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Lawrence Williams: Is China hiding its central bank gold in its commercial banks?
8:30a ET Monday, February 16, 2015
Dear Friend of GATA and Gold:
Examining the huge offtake from the Shanghai Gold Exchange, Mineweb's Lawrence Williams today speculates that the government of China may be holding massive amounts of gold on the books of the country's government-owned commercial banks to avoid reporting them officially to the International Monetary Fund. If so, Williams writes, China's gold reserves could have reached four or five times the 1,054 tonnes the country claimed in its last report to the IMF, in 2009. Williams' commentary is headlined "Is China Hiding Its Central Bank Gold in Its Commercial Banks?" and it's posted at Mineweb here:
http://www.mineweb.com/news/gold/china-hiding-central-bank-gold-commerci...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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