Hu Xiaolian, Director of the State Administration of Foreign Exchange, of the People’s (central) Bank of China, announces that the PBOC has surreptitiously acquired 454 tons of gold (lawful Money) over the previous five years.
Postscript: This announcement touched of a buying spree of gold that brought the exchange rate against the “dollar” (a Bill of Credit) from 910 per ounce down to 1,400 per ounce over the next 20 months.
[added 11/9/2021] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
References:
Guest Post “The Failure of the Second London Gold Pool | zero hedge
www.zerohedge.com/article/guest-post-failure-second-london-gold-pool
China Admits Gold Stockpiling Rumors Are True | Welcome To Jim Sinclair’s MineSet
jsmineset.com/2009/04/24/china-admits-gold-stockpiling-rumors-are-true/
London Fix Historical gold — result
www.kitco.com/scripts/hist_charts/monthly_graphs.plx