There may be a bright side to the chronic gold sales by the “central bankrupts” and generous offerings by large central banks in the loan-lease market.
Some observers feel that this has helped governments maintain their issues of currency and debt as being more attractive than gold.
It is possible that this may be an overambitious objective; just making their paper as good as gold would do.
Or, perhaps chagrined by the debacle in the bond markets, governments could be making up their “bad” fills in treasury offerings last year by providing “good” fills in the gold markets.
W.R. Hoye
Vancouver, B.C.
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