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With 40,000 tonnes, China can trigger a weaponized gold revaluation at any time, Maguire says
10:23p ET Friday, January 26, 2024
Dear Friend of GATA and Gold:
China likely has 20 times the 2,200 tonnes in gold reserves it has officially reported, or 40,000 tonnes, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program, making a weaponized gold price revaluation possible at any time.
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Meanwhile, Maguire says, heavy demand by central banks is keeping the gold price above $2,000 despite the constant attempts to knock it down in trading on the New York Commodities Exchange.
The program is 41 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=61WwPCSYt18
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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