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Charlie Garcia: America just imported a mountain of gold, and that should scare you
By Charlie Garcia
MarketWatch, New York
Thursday, May 15, 2025
What do central banks know that the rest of us don't?
Something suspicious is happening with gold. Not the kind of suspicion when your neighbor suddenly buys a Ferrari. I mean the kind when a guy in dark glasses unloads mysterious crates at 2 a.m.
... Dispatch continues below ...
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In the first two months of 2025, America quietly imported more than 600 tons of gold from London and Switzerland, according to World Gold Council data -- enough to make King Midas blush.
Officially, economists at many major banks waved it away as a statistical oddity. "Relax," they said. "It's just bullion banks hoarding gold ahead of tariffs."
Sure. And a fleet of black helicopters landing at your neighbor's barbecue is just the local weather guy testing his equipment.
Maybe it's nothing. But let's walk through it slowly. ...
... For the remainder of the commentary:
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