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Koos Jansen: West to East gold distribution update
10:27a ET Saturday, November 16, 2013
Dear Friend of GATA and Gold:
Updating his data on the flow of gold from West to East, gold researcher Koos Jansen concludes today that the flow is far greater than is estimated by the World Gold Council, whose gold supply and demand estimates lately also have been challenged by Sprott Asset Management CEO Eric Sprott:
Of the likely annual imports of gold into China, Jansen writes: "While the World Gold Council estimates Chinese consumer demand will be over 1,000 tons, my estimate is it will be over 2,200 tons. In my humble opinion just the official route raises a few eyebrows to the WGC demand numbers. If we then take into account that gold is also imported by China through ports other than Hong Kong, more eyebrows are raised."
But then despite GATA's entreaties and frequent sharing of information, the World Gold Council has remained silent in the face of growing evidence of central bank intervention against the gold price, and that silence implies complicity. Indeed, the World Gold Council exists only to make sure that there never is a world gold council.
Jansen's commentary is headlined "West to East Gold Distribution Update" and it's posted at his Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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