China Buys More Gold While The Fed Prints More Paper (Video/Podcast)

About a week ago, Reuters reported that Russia’s second largest bank, VTB Bank, had agreed to supply 15-20 tonnes of gold to China over the next 12 months. VTB also plans on increasing the amount of gold supplied to China over time, up to 80-100 tonnes. Without a doubt, the PBOC’s demand for gold now exceeds the 450 tonnes produced by China. This agreement with Russia underscores that view.

At the same time, it was apparent from yesterday’s post-FOMC presser with Janet Yellen that the Fed is backed into a corner with regard to its options on monetary policy. Anyone who believes that rhetoric about a “stronger economy” and a “tight labor market” has a calcified brain. Unless the Fed intends to let the financial system collapse, the only option left is to print more money.

We discuss both of these developments in this latest episode of the Shadow of Truth:

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.