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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 06/22/2010 : 21:10:00
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...Saudi Arabia “restated” its gold reserves Monday, right as the spot price found an all-time high of $1,265. Last week, SAMA, the shady Saudi sovereign wealth fund, held 143 tons of gold. Today it's 322 tons!
The Saudis gave little explanation other than a humble “adjustment of the SAMA’s gold accounts.” Heh, a double, that’s some adjustment.
China did the same thing roughly a year ago. Having not reported its gold holdings in years, the Chinese quietly announced they were holding in excess of 1,000 tons of the metal, double what the world expected....
Yin Zhongqing, vice chairman of the finance committee for the People’s Congress, suggested the Chinese government increase its holdings in oil and gold....
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Saudi & Central Bank Accumulation: Higher GOLD
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The money is moving where the real money is.
