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Zero Hedge is wrong about Chinese gold operations, Turk tells KWN
10:53a HKT Monday, March 24, 2014
Dear Friend of GATA and Gold:
Interviewed today by King World News, GoldMoney founder and GATA consultant James Turk today disputes Zero Hedge's assertion yesterday --
http://www.gata.org/node/13818
-- that Chinese interests acquired so much gold over the last year through commodity funding deals that involved shorting gold futures contracts.
Rather, Turk says, Chinese interests are borrowing in national currencies against their gold to buy more gold, and the gold price was held down over the last year only through central bank dishoarding.
Turk's interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/23_Wh...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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