Submitted by Michael Krieger of Liberty Blitzkrieg blog [6],
Chinese Gold & Silver Exchange Society Runs Out of Gold... Importing from Switzerland and London
Hong Kong’s Chinese Gold & Silver Exchange Society has been in operations for over a century [7], and it’s President Haywood Cheung was interviewed by Bloomberg news earlier today. Whoever orchestrated the attack on gold and silver [8] in the last week or so has gravely miscalculated, since the response to the drop has been surging demand for physical gold and silver. While I tend to be skeptical when I hear about silver shortages since these reports have been so exaggerated in the past, the lack of silver coin availability and premiums are the most extreme I have seen since the financial and economic meltdown of 2008. Now we discover that the Chinese Gold & Silver Exchange Society has essentially sold out of gold bullion, and must wait until Wednesday for shipments to arrive from Switzerland and London.