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Jan Nieuwenhuijs: Estimating the true size of China's gold reserves
11:40a ET Thursday, February 23, 2023
Dear Friend of GATA and Gold:
Gold market analyst Jan Nieuwenhuijs today gives his estimate of the gold reserves held by the People's Bank of China: twice the tonnage officially reported.
Perhaps more important Nieuwenhuijs documents how China's central bank and central banks in Europe appear to be working together to match their gold reserves with their nations' gross domestic product in preparation for some sort of new gold standard or gold price targeting system.
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Nieuwenhuijs notes that China's central bank especially has an interest in keeping the gold price down while it acquires the metal necessary to reach a balance with its GDP.
Nieuwenhuijs also essentially reminds us that gold is the secret knowledge of the financial universe, a mechanism surreptitiously used by governments for purposes like manipulating currency and other markets -- a subject that simply cannot be addressed by mainstream financial news organizations and most market analysts who aspire to respectability.
Nieuwenhuijs' analysis is headlined "Estimating the True Size of China's Gold Reserves" and it's posted at the Gainesville Coins internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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