China Extends Aggressive Gold Buying With Another 30 Tons Purchase In December

• China Extends Aggressive Gold Buying With Another 30 Tons Purchase In December
  by Tyler Durden, https://www.zerohedge.com/
  One week ago, in his latest – and arguably most important note of 2022 – Credit Suisse repo guru Zoltan Pozsar discussed the two key anchors of the Bretton Woods III regime he believes will replace the world in which the dollar is a reserve currency: i) commodity encumbrance (i.e., rehypothecation) and ii) the Petroyuan, and – intertwined inbetween them – China’s aggressive accumulation of gold.
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  This was hardly a coincidence: just a few weeks earlier, we learned that for the first time in years, China had bought 32 tons of gold in the month of November, its first official purchase since September 2918 (even as it had unofficially been buying up much more gold over the past three years). We added the following:
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  Back in March we pointed out that according to JPMorgan, “while the world is short on commodities, China is not given they have started stockpiling commodities since 2019 and currently hold 80% of global copper inventories, 70% of corn, 51% of wheat, 46% of soybeans, 70% of crude oil, and over 20% of global aluminum inventories.” And now, China is aggressively stockpiling every ounce of physical gold it can get its hands on. Almost as if China is actively preparing for war.
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