China's not buying gold to hoard it—they're buying it to have leverage when the dollar eventually can't back up what it promises. The weaker player in currency wars always moves to hard assets first. I ran into the same idea in The 20 Laws of Game Theory by D.K. Jarmell, and it made the pattern click.
They continue flooding the metal markets with paper derivatives in the United States. It’s all bullshit. Metals are worth far more now than they were. Sell your ponzi cryptos for the real deal while you can.
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Need what China is doing. Like long ago.