This time is different. All right, out of Zero Hedge, exceptionally strong PBOC and Chinese private sector buying continues to boost the gold price. Chinese private sector gold imports accounted for 543 tons in the first quarter, while the People’s Bank of China, the PBOC, added 189 tons to its reserves over this time horizon. I got to ask you, it’s interesting, as the Iraqi central, Iraq Central Bank, Chinese, the Russians, even Europe, all over Europe, they’re all adding gold. What is America not doing? Not only they’re not adding gold to their reserves, which I do not believe are even there, quite frankly, honestly.

And the truth is, when Germany sent over a delegation to come and check on their gold back around 2014, 2015, and found out, and the reason why they sent them is because the Federal Reserve said, when they asked for their gold back, the Federal Reserve said, no problem, it’ll take about seven years. They raced over here to look, they went screaming back and said, the gold is not there. But furthermore, America, our government, still has gold valued at $35 on the books at the Treasury. Why? Because our government is trying so hard to demean, to deteriorate, to destroy the idea of American citizens owning gold.

They don’t want anybody doing it. It’s like, maybe they’re paying Dave Ramsey, maybe he’s their official mouthpiece. Honestly, think about it. So right here, it says, China continues to be the marginal buyer of gold in the gold market, driving up the price. And there are expectations that China will remain a robust buyer of gold going forward in support of the price. Not only China, I want you to add all of the other BRICS nations because they’re all joining forces to move away from the dollar. So what does that mean? In order to bring value to their currency in the past, countries would go to the US government and buy T-bills, bonds, US dollars, and put them in their reserves with their central bank or their government.

And that would bolster the value of their currency. Well, now, since they’re walking away from the dollar as a reserve currency status, what else will bring them value? It’s gold. Gold has become a tier one asset under Basel three rules. And and I know this sounds crazy. It wasn’t always like that. But banks and countries, governments are starting to understand how serious and how important it is to have gold as a reserve. So the question is, what are you doing? It says in an article, let’s do this, we’re going to talk about instead of being price sensitive, China has become a driving force in the gold price.

February also caused by the Chinese was also caused the price rise by the Chinese. However, as new data has been released, people can confident we can confidently say that China initiated the current bull market. The media is aware that since 2022 central banks, mostly by gold, covertly, covertly, by what is widely known as the World Gold Council, pushing a single statistic on aggregate central bank buying each quarter, which is markedly higher than what all monetary authorities combined report to have bought, which central banks are causing the difference isn’t made clear, though.

In February of 2023, there was a story that was broke on unreported buying being mostly acquisitions by the PBOC to people familiar with the matter shared with the author of this story, the Chinese central bank is responsible for the majority of secretive additions by monetary authorities emerging markets such as Saudi Arabia, take up the rest. Again, I want to remind you that Saudi Arabia has completely abandoned the United States in their agreement at the very significant time point of 50 years, they walked away from the petrodollar. And they said they are pledging their allegiance not only to China for 50 years, but more than 50 years.

This is amazing. And the reason why it’s amazing is because you get to find this information out before the masses. And there are a lot of people out there that say, well, the government will just make owning gold illegal again. Well, the truth is, back when they did it last time in the 30s, everybody, every single household had gold. And they said, look, if you turn it in, we’re going to make it illegal, but we’ll pay you the going rate. And they ripped off the country, but they only actually ripped off about 10% of Americans.

10% of Americans actually turned in their gold for sale. And then the government swiftly changed it from what was it $25 and change back then to $35. 90% of the population of America got to watch their gold go up. Sure, they couldn’t move it around like they used to, but they still had it. Well, today, only less than one 10th of 1% of Americans own any gold. So if you think for a second that the government’s going to waste its time going and making gold illegal to own. Well, you know, I don’t think it’s going to work out very well for you or the government.

Now, based on field research, the WGC, the World Gold Council states that central banks bought 290 tons of gold the first quarter of 2024, most of the difference. I use 80% between the World Gold Council’s estimate and total purchases as disclosed by the IMF being 162 tons. When we add what the PBLC has reported to have bought during this period, total purchases come in at 189 tons or 8% more than the previous quarter quarter. Possibly the PBLC had a stake in boosting the price since late February. Now I want to remind you that as the price of gold increases, central banks around the world know, unlike the retail sector, how to buy properly.

They buy on weakness, they put out bad press releases, things like that, and they shake weekends out. However, the more and more smoke we’re seeing, we’re starting to identify the fire. China also knows that, and I guarantee you in these summer months, they are going to ramp up gold purchases. Why? Because they know once the cat’s out of the bag, grab it at all costs. Taking into account purchases, the Chinese Central Bank now holds gold reserves weighing 5,542 tons, according to this author’s research. Chinese net imports of gold by the private sector have been extremely strong.

From January through March, imports accounted for a mammoth 543 tons, up 74% from quarter four of 2023. Think about that. Almost a doubling, a 100% increase from the prior quarter. Can you say panic? This is definitely what pushed up the gold price. Import in April’s decrease somewhat to 125 tons. India imported a healthy 95 tons in February, but less than 30 tons in January and March. Before I go on, I want to tell you I’m more bullish on silver than gold, but I report on the gold, and I do own gold, but I own more silver than gold.

Why? When gold comes up, silver starts to rock it. Right now, we’re sitting, well, not well above 30, but we have sustained an over $30 per price point for a handful of days now, and that’s getting certain traders in the COMEX very worried. Why? Because they can try and smash it down, but Asian buying in the Asian market opens are showing us when they smack it down and it pops right back up in Asian trading, what exactly is happening? And I’m going to be honest with you. I do not think we’re going to top it 50 and drop back down for a third time.

The third time, this time, when it comes to silver is the charm. And I’m not joking. This is the moment. Type one, if you are an aggressive buyer of silver and you are getting super pumped about this price. And I don’t mean this lightly, and I don’t want you to dive right in and put all your money in. That would just be crazy. But a lot of us have been invested in silver, and we know the true value, the intrinsic value, the absolute, unbelievable, unmistakable, undeniable truth about silver. And I believe that you are going to see much higher prices this year, and when it blows through 50, it will blow through 50.

I’m pumped. In quarter one, the UK and Switzerland both were net exporters and Western ETF investors declined. It’s interesting that the Western civilizations are not, they’re not diving into gold ETFs like the rest of the world, but I am honestly in the belief or the camp that pride has come before a fall, and that America and the other Western countries have absolutely no concept that China, Russia, India, and the rest of the BRICS nations are coming around the back of them, and they’re about to go smack them right upside the head.

Honestly, like economically. Private gold man in China is likely to uphold as well as the end of the property slump is not in sight. Home prices have declined in 30 out of the 33 last 33 months. The state council is floating a plan to buy unsold houses through local governments, but they’re already drowning in debt. The Chinese public, which doesn’t have any investment options due to capital controls, could continue to invest in gold and support the price. Why is this important? Their housing collapse? Because the more and more it’s in the news, the more people get worried and they go buy gold.

Look, I’m going to make this short and sweet. I own gold, I own silver, I own platinum, I own crystallized osmium. That’s for you, Neil. But I also own Bitcoin. I also have cash, and I believe that all of those assets are going to do very well in this downturn. Hope you have a great day. Let me know your favorite. Hashtag your favorite investment down below. Hope you have an awesome day. The economic ninja is out. [tr:trw].

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