In a MUST SEE interview with Bloomberg, Albert Cheng, the World Gold Council’s Managing Director, Far East dropped 2 bombshells regarding Chinese gold demand.
First, Cheng revealed that nearly every Chinese Bank is now selling gold over the counter directly to the public, and Cheng also made the shocking revelation that over 100,000 gold dealers are now selling gold to the public in China.
To put this number in perspective, the number of US retail locations for McDonalds, Subway, and Starbucks COMBINED… are only 50,000!
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Just remember, gold is not money.
David DeGerolamo
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Banks or gold stores? I don’t know if that makes a difference, but I do know that you can buy any amount of gold that you wish in Vietnam on most any city street from probably more than one shop that trades in such.