MKG 2.0 🇮🇳 Profile picture
Sep 20 9 tweets 2 min read
World's biggest Financial SHOCK might not be a US recession, but the SECRET Gold in #China !?

Yesterday, China's central bank made some announcements. Utility of the digital Yuan (Up by 1800%) will expand beyond 4 trial cities.

Share of Gold in Forex Reserves across nations -
USA : ~74%, India : ~7% , China : ~5% (officially)

But, wait.. there's something fishy-

What if the Chinese Govt 'secretly' had more than the USA's Gold Reserves?

Afterall, "He who owns the gold, makes the rules."

Here's an interesting Story -
In 2007, China overtook South Africa as the largest gold producer. In last 10 years, ~15% of world's gold was produced by China. It was accumulated via :

1.) Mining :-
~50% of Chinese gold production is Govt owned.
Export of domestic mine production is not allowed.
So, China keeps all the gold it mines.

Since 2000, China mined roughly ~6,800 Tonnes (T)
But, China's gold reserves declared is just ~1948 T .

In the last 2 decades,
Chinese mining companies have aggressively bought assets - across Africa, South America, Asia.
Result? In 2020, China's gold production via:
International mines exceeded Domestic mines! (by ~15T)

2.) Imports
One of world's biggest gold importer? ✓China .

Apart from undeclared imports, almost ~6,700 T of gold were officially imported into China since 2001, via Hong Kong.
3.) Bullion and Jewellery :-
World Gold Council estimates ~2,500 T in privately-held jewellery in China prior to year 2000.

Meanwhile, as a matter of pride Indian households own more than 24,000T gold !! And Govt reserves hold ~743T.
Cumulatively & very conservatively, total approx gold held in China is over >25,000 Tonnes. Of which, as per expert estimates ~50% is Govt owned.

That is ~12,500 tonnes, which is >1.5x that of USA!
And >5x of what is officially declared by China!
If China decides to weaponise money as the US has done, all it has to do is declare its real gold holdings.

This might send waves into global forex markets, acting as a potential nail in the coffin for the shift of global powers.
For now, China follows Deng Xiaoping's doctrine, “We must not shine too brightly.”

Just let history of cyclical supremacy shifts repeat, while working silently.
#GoldStandard

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जीना इसी का नाम है
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