Alasdair Macleod: US Debt Skyrocketing As China Secretly Accumulates 25,000 Tonnes Of Gold

In this latest interview, Darryl and Brian Panes from As Good As Gold Australia interview Alasdair Macleod, Head of Research at GoldMoney. In a world of chaos and extreme uncertainty, non-western central banks are buying enormous amounts of gold (eg, 1200 - 1300 tonnes annually) while mining of gold worldwide only produces 3,200 tonnes annually. What are they seeing that the west isn't and why don't Western Central Banks read their history books and take heed? The US, Europe, and especially Japan are all in a massive debt trap. US debt to GDP 126%. Japanese debt to GDP 260%. Could the Bank of Japan be the first to fall over, and what would that do to the price of gold? Jamie Dimon, the CEO of JP Morgan Bank (the largest bank in the US) is now reported as selling one million shares of his own JP Morgan stock (approx. $140 million). Why would he do this if he felt the market was in a good place and he believed the company's prospects were still very strong? Lets remember of course that Jamie Dimon warned us there was an economic hurricane on its way. Some Facts: The Ukraine war - supported by the United States The Israel war - supported by the United States The US Government interest payment is now $980 billion The US GDP growth is only coming from government spending The US financial assets are wildly overpriced Why is gold completely mispriced? Now more than ever before, living in a world with exploding debt, uncontrollable inflation and two wars dominating our attention, it's imperative that we own gold. All Central Banks own gold to protect themselves against currency collapse in this environment. As the great Jim Sinclair always said, if it's good enough for the Central Banks of the world to own gold, then surely it makes sense that you should too? Wise words.