By Richard Russell
The word out of China is that China is selling massive quantities of US Treasury bonds. At the same time China has been a huge buyer of gold. My thought is that China wants to back the yen with gold and thus the yen will be the world’s only gold-backed currency. In this way, China wants to be on an economic par with the US. Russia is also buying physical gold, as are most of the central banks. They may be preparing for a collapse in fiat currencies. I advise my subscribers to buy as much bullion gold as they can. It seems that the central banks don’t trust the garbage money that they themselves have created.
Transports confirm the Dow by rising 116 to 8208. The Nasdaq was up 87 and us closing in on 5,000. Turning to gold, which is acting well, it is currently up 16 to 1185.9. It looks ... Log in or subscribe to continue reading.