Is there a bull market in gold and silver or a bear market in fiat debt instruments? From Jim Quinn at theburningplatform.com:
“China has been understating its gold reserves by possibly a factor of 10. I believe this is the biggest story in world finance. The West is either asleep at the wheel or ignoring it.” – Dominic Frisby
The Financial Times reported that China is under-reporting their gold reserves, subversively hiding the fact they have accumulated 10 times as much gold as they have officially reported. The charts and data below from Visual Capitalist are based on “officially” reported numbers. Even these fake numbers show China accumulating gold at a rapid pace over the last five years. According to these charts, The U.S. supposedly has 8,133 tons of gold, but Trump’s unfulfilled promise to audit Fort Knox puts that figure in doubt. Officially, China has the sixth largest amount of gold at 2,280 tons. Unofficially, China’s reserves are at least 5,000 tons, with some estimates exceeding the U.S. levels.
The 140% increase in the price of gold over the last three years is telling a story the legacy media propaganda outlets don’t want told. The decline of the dollar and western civilization are a reflection of the soaring price of gold. And this isn’t a recent development. The beginning of the end began at the start of this century. The shills and bimbos on CNBC will blather endlessly about stocks for the long-run without ever revealing these facts:
- The price of gold on January 1, 2000 was $289 per ounce. The current price is $4,256 per ounce. So, gold has gone up by a factor of 14.7 in the first quarter of this century.
