Andy Schectman: China Doesn't Increase Gold Holdings For 2nd Straight Month
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- Опубликовано: 6 авг 2024
- Andy Schectman: China Doesn't Increase Gold Holdings For 2nd Straight Month
The People's Bank of China released their latest gold holdings data on Monday, and reported for a 2nd straight month that they did not add to their gold reserves. And this is after a streak of 18 months of consecutive reported purchases.
Of course China is an important participant in the gold market, with a surge of Chinese buying being one of the key drivers of the rally we've seen this year. So on today's show, which takes place live at the Rule Symposium, I talk with Andy Schectman about the latest gold and silver developments.
Andy will also be talking about what's happening at the conference, and taking questions live.
So join us at 4:30 PM eastern on Tuesday to get caught up to speed with the latest news in the precious metals markets!
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Just saw Andy with liberty and finance. Never get bored with Andy. 👍🏻
I enjoy listening to you guys. Thanks for taking the time to talk to us all ! ! !
I keep my bills paid and a comfortable amount of cash at home. The remaining monthly FIAT goes to metals. Stack as much as you can!
Good call Andy. I wish I was at the Rule conference.
😊
Looking at Andy & Chris, The Action in the Bar last night after Rick’s Symposium was Rolling !!!
Andy and Bill Holter are the best. They have been spot on since I have been following them. They are amazing teachers.
Great live interview…thanks !!!!
Awesome report thumbs 👍👍👍👍👍👍👍👏👏
Chris You look like a multi million dollar mining executive. Great interview. Thanks from the Permian Basin
I think only Gold and Silver should be tier one assets, no government paper.
Very true but the Government doesn't like. That because they Can't print it 😂🥇🥇🥇🥈🥈🥈🥈
With the unprecedented level of corruption in the US government, inflating our way out of this mess is absolutely not possible. A part of the answer to ever solving the US financial situation is having a very stern grip on controlling corruption while austerity measures.
It’s not corruption. It’s Criminal now. It’s absolute, complete, open on our Faces, Tyrannical Lawlessness
Thank for your insight on all that happening in financial world it’s enabled me too get in right position
Who is singing the "Land of Arcadia" song?
If a fiat currency system is perceived to what it actually is people will depart from it very quickly. The problem with the masses is they have no idea how it works and how it affects them to their detriment.
Love the "Silver" tie Chris - a coincidence???
Only owning 5-10% of portfolio in PMs is unfathomable. Those that promote this philosophy can't make money off of you if you put more into PMs, especially in these times. I say 50% minimum.
Many have changed their ratio of gold to silver suggested holdings to more on the silver end now.
Can you please provide a link to the jim simclaire interview that you refer to? Thanks
Soon many of the junk silver coins will be difficult to find. So will be nice to grab some to hand down to your children as antique. Just as it's rare to find them in your change long time ago. You can still find copper cents but even those are dwindling down.
Began hording my nickels too. It costs OVER 10 cents to make them. Soon the metals will change just like the pennies did.
Gold is about to go 20x
Maybe 2x
Why 20x?
@@Jrome3 Because the entire world is going back to a gold standard.
27 k - Jim Rickards
Schectman for head of the COMEX
25 basis pt cut in September. Another after the election. Bank on it.
Hi Yarra!!!
Will any country back there currency at 100% with gold?
No
Does anyone know exactly what a derivative is the appropriate definition for the term
Think options.
That's what there saying, I'm sure they are still buying.
Actually China not buying makes a huge lot of sense, if it leaves India particularly able to buy it, without the upward pressure on the Gold price from China. Why ? India buys Gold at the Lower price, the Gold price then goes up dramatically,and India uses the Gold to pay Russia for the Oil and other things it has purchased from Russia, with the benefit of having abother massive Discount on what it has bought? Frankly, I bet they are stocking up like crazy with Gold to use for future purchases while it is available tbh. Makes Sense to me anyway, plus India looks to be doing the same with Silver ? A Very Smart Strategy that will fix the India serious Payments problems.🤔🌟🌟🌟👍🏴🇬🇧❤️
50% into metal,30% cash, 20% high risk investment... that's as low as I would be into metals.
Exactly
I like both Andy and Chris but China not buying for 2 months straight is a nothing burger. Have fun at the show fella's but nothing new in the PM's world for quite some time now. Fundamentals win in the long run, not charts!
Two of my favorites. Chris is a superb interviewer.
How many people attending the conference your attending believe that there is a possibility of a stock market crash? The BRICKS have a big upcoming meeting in October,we have the most important election coming up in November.Maybe even if on a temporary basis, purchasing a large part of your money into gold and silver and when and if things get back to normal then you can always sale it to invest elsewhere.
I missed Chris Marcus? Oh no!
Does Andy see a bidding war for physical gold by the Central Banks?
Great show Thanks
Wasn’t it JPMorgan that has tones of silver, did they bet it all away through derivatives?
All countries need to repatriate their gold back.
From Fort Knox? Good luck, it's empty.
There are multiple factors making silver bullish. industrial demanding booming, production slowing in Mexico and south America, individual investment sector growing like Cosco, etc & even wars.
Official Symposium Cocktail - The Golden Hammer !!! Ingredients:
2 oz. vodka
2 oz. rum
1 oz. amaretto
4 oz. orange juice
7 oz. pineapple juice
1 handful ice
Avoid the garlic cloves on the hibachi. They taste great but for a week!
Yay!! There she is!! 😉🥰
why trust brinks switzerland when everything goes REALLY bad ? does not make sense too me x
My big question is who is going to have the bigger hangover tomorrow. Andy or Chris?
Andy
Guys while the public XRPL is permissionless, the XRPL also has something called side chains, or private XRPLs so the banks including CBDC’s can have their own permissioned XRPL to protect their data! XRPL sidechains can be permissioned or nearly permissionless ledgers. Federated sidechains allow developers to create private or public sidechains, and choose validators and system rules.
Why China has to tell US how much gold she has?
Because the Chinese Government is pathologically HONEST . they are incapable of lying on any topic
Pms are a diversity of money!
surely the percentage depends on your net worth also ?
The US has no GOLD!!! 😂🤣😂
So what! the US have the USD paper currency ,wars and debt. It aren't good enough?
Fruity Pebbles
My goal is to make the next rule symposium
capital gains lol THEFT
"Use" gold value without selling it, look at monetary metals program. Gold as the new collateral replacing treasuries ?
16:30 countries repatriating gold
Who benefits from JPM selling naked shorts on Gold and Silver into the markets? The USD. But by supressing the price of Gold and Silver, somebody else can buy it cheap. Like the rest of the world. So I agree with your premise, buy Gold and Silver now. Making wild claims so people will buy it from you, lessens your credibilty.
😂😂❤
They won’t buy for four months
How much gold was shipped buy the 4 banks you mentioned to Shanghai?
Just a after thought 😅😅😅
the golden Rule...he who has the gold makes the rules...pun intended
they still have just about complete control over silver and to a lesser extent gold. The stories about breaking 30 and going to 50 bucks is another example of wishful thinking. The dollar may be headed for the junkyard but it will last longer than other fiat currencies.
Spot on, Andy. If a Central Bank knows what it is doing, why warn the market? Chop the interest rate in big steps. Stop messing about. And stop letting the big guys move early with jibber jabber Boston Legalese. Either chop or leave alone. Tinkering is the sign of an amateur at the helm. Splice the mainbrace and turn into the wind rather than trying to outrun the storm advancing on your rear. Or better still make the banksters walk the plank, we do not need dead weight on board.
If you're not Dutch, you're not much. Damn! That includes me haha
September the 11th 2024 Silver hits $100, Gold $ 3242... It is written in the Star's 😮
The right guy looks like mike pence next to Trump in bad old days.
“Handsome Andy”… 😂 bro, with a snout like that, you should stick to the precious metals… 😂😂😂
Away from the Western banking system lets call it west instead of .. and The BRICS supposed to be better? The MBridge CBDC prison system?
IF FOR THE AMERICAN GOVERNMENT GOLD IS NOT MONEY WHY IS AMERICA SO WORRIED ABOUT OTHER COUNTRIES HAVING GOLD !!!!!!!!!!!!!!