Includes transcript.
Been eerily quiet on the western front as far as gold goes. However, had an interesting email conversation with a colleague from mainland China that will be shared once it’s cleared with him. In the meantime, here’s a preview..
Also: Here is more on backwardation and gold from today.
Below is a in depth post from late last year that’s extremely relevant. Scroll down to the section about how “it could manifest“ referring to backwardation and gold.
Zoltan's Gold-mageddon Deconstructed
Housekeeping: We have several pieces to put out the next few days and so are posting this whole thing, (intended as a 3 parter) all at once. Overview [B]anks have been managing their paper gold books with one assumption, which is that [Nation] states would ensure gold wouldn’t come back as a settlement medium. -Zoltan Pozsar
