Koos Jansen on German Financial TV Discussing Gold Manipulation and Chinese Demand

(Before It's News)

TND Guest Contributor:  Craig Hemke |

Last week, our pal Koos Jansen was a featured guest on the German financial TV network, DAF. As the algo-generated divide between physical demand and paper price widens by the day, this video is a must watch for everyone.

Koos now works for BullionStar.com and the original source link can be found here.

In this 12-minute interview, Koos discusses most of these points:

• Chinese consumer gold demand in 2013 was 2,200 tonnes, not 1,100 tonnes as the Wold Gold Council states.
• Only for consumer demand China net imported 1,500 tonnes in 2013.
• The best way to measure Chinese wholesale demand is by withdrawals from the Shanghai Gold Exchange vaults (SGE) – although this might change in the future.
• The PBOC does not purchase gold through the SGE.
• The PBOC is definitely increasing its official gold reserves.
• China is the most important player in the gold market, they are the second largest economy in the world and accumulate gold for it’s monetary value and in anticipation of a new monetary system.
• China still has a lot to work to do regarding the internationalization of the renminbi, developing their financial markets and diversify their FX reserves. In this sense China has no rush, it wants a gradual shift away from the US dollar.
• When China will fully utilize the gold it is accumulating, I expect the price to rise.

One note…The first 30 seconds or so are in German but the remainder of the interview is conducted in English.

TF

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Craig Hemke (aka Turd Ferguson) is a former stockbroker, mutual fund wholesaler and commodities options trader with over 25 years of experience. He jumped off the corporate ladder in 2008 and now is the proprietor of the popular website TFMetalsReport.com as well as the author of a subscription service hosted at the same website. Click here to learn more about his exclusive reports.

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