Another 7,285 ounces of gold bullion were redeemed from the Sprott Physical Gold Trust.
My friend Arby had an interesting observation. I have not checked it out specifically. I thought Australia was in second place, but I have not looked at the latest figures for 2014.
But if the numbers are generally right, which they seem to be, it gives us some idea of the magnitude of what is going on.
US 52 WEEKS gold mine production 2014 (estimate from Mineweb) ... ... 210 tonnes
China first 3 WEEKS gold imports 2015 (calculated by Koos Jansen) .... 202 tonnes
The largest producer of gold is China, second Russia, third USA.
The two largest producers are net importers of their world leading mining output. The third largest producer is a net exporter.
No matter what the exact numbers, gold is flowing from West to East.
Anyone who does not understand this is missing one of the most dramatic monetary phenomena of this century.
I wonder who will blink first in this 'suicide squeeze.'
Speaking of monetary phenomenon, the professor of numbers and all things housing Tony Sanders notes that Mortgage Bonds Have Underperformed the Worst Since 2008 on Refi Risks.
As part of a different discussion, I noticed the other week that the Fed stepped up purchases of agency mortgage debts considerably since they 'ended QE' and own a boatload of them.
Janet and Bill Dudley must be running handcarts up and down Wall and Broad Streets telling the Banks to, 'bring out your dead.'
Fan and Fred buy them, and the Fed buries them. With nothing going to the people whose homes are being foreclosed.
That's trickle down stimulus par excellence.
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