Comte de Sats Germain on Nostr: I've gotten lazy. This wouldn't have escaped my attention a few years ago... China ...
I've gotten lazy. This wouldn't have escaped my attention a few years ago...
China banned exports of tungsten two weeks ago, right at the same time that people/institutions started pulling their gold out of the Bank of England's vaults, mostly moving it to the US.
https://www.bloomberg.com/news/articles/2025-02-06/tungsten-miner-says-clients-in-disbelief-as-china-chokes-supply
The easiest and common way to fake a gold bar or coin is to hollow out the inside and fill it with tungsten. Because tungsten's density is very close to gold's, there's a chance that any gold you own is really just tungsten.
China mines almost all of the global supply of tungsten. They can cause supply and manufacturing disruptions whenever they want. More importantly, if you know most of the West's gold is fake, and you see that central banks have been both purchasing more gold in recent years AND repatriating their gold, then you can potentially push the price of gold up by making the main counterfeit material more expensive.
China is good at this game. Much better than the mafia that runs finance... much better. This is strategic time preference.
#geopolitics #gold #China #fraud
China banned exports of tungsten two weeks ago, right at the same time that people/institutions started pulling their gold out of the Bank of England's vaults, mostly moving it to the US.
https://www.bloomberg.com/news/articles/2025-02-06/tungsten-miner-says-clients-in-disbelief-as-china-chokes-supply
The easiest and common way to fake a gold bar or coin is to hollow out the inside and fill it with tungsten. Because tungsten's density is very close to gold's, there's a chance that any gold you own is really just tungsten.
quoting nevent1q…tjhuThe #Gold delivery’s slow because the Bank of England needs time to give their Tungsten bars a fresh gold makeover.
China mines almost all of the global supply of tungsten. They can cause supply and manufacturing disruptions whenever they want. More importantly, if you know most of the West's gold is fake, and you see that central banks have been both purchasing more gold in recent years AND repatriating their gold, then you can potentially push the price of gold up by making the main counterfeit material more expensive.
China is good at this game. Much better than the mafia that runs finance... much better. This is strategic time preference.
#geopolitics #gold #China #fraud