Chia has been gobbling up PHYSICAL gold for more than a few years while the west has been playing with “trading” paper gold.
Get ready if you are along paper gold; you are about to get your ass handed to you. Paper is looking more and more like it is leveraged 80:1 per OUNCE gold. There is a tsunami worse than 2008 about to hit when you can finally factor in all aspects of fiat money.
I wouldn’t own paper gold no matter what the circumstances. It defeats the purpose of owning gold.
China is just too capricious and erratic economically.
The petro dollar never really existed.
What made the dollar the dollar was backed by the full faith and security of the Unites States. Our military, our acumen.
No facing destruction under Obama.
The question is however. Who’s going to believe the Chinese when they claim to have X amount of gold?