Saturday, April 28, 2018

U.S. financial system so adverse to gold that they are shipping all mine production overseas to Hong Kong

Besides leasing programs, price suppression through the futures markets, and a mainstream media that vilifies gold at every turn, the U.S. financial system has gone all in for believing that gold will never have a place in monetary system.  And in a new report from SRS Rocco on April 28, it appears that we are even shipping all of our own mine output to China.

The U.S. gold exports to Hong Kong surged in February consuming nearly all of the domestic gold mine supply.  According to the USGS recent Gold Mineral Industry Survey, February gold exports to Hong Kong more than doubled compared to the prior month.  This was an interesting increase in gold demand from Hong Kong as the market price increased slightly month over month. 
Not only did gold exports to Hong Kong jump, but total U.S. gold exports also increased 40% from 36.1 metric tons (mt) in January to 50.4 mt in February.  The top three countries that received the majority of U.S. gold exports were Hong Kong (15.5 mt), the United Kingdom (12.1 mt) and Switzerland (11.7 mt). – SRS Rocco via Silver Doctors
Perhaps the biggest irony in all of this is that a Congressman from West Virginia has submitted a bill to once again back our currency with physical gold, but if we are shipping it offshore as fast as we mine it, how would we have any gold to back this legislation? 


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