Considering how much gold is being drawn down(think that is the way to put it), then how much physical is left, or can this be estimated? How much longer does one think that China will continue to buy treasuries? Japan? We appear to have a possible battle coming, with more Russian ships sent to help Syria. Will this not result in a middle east powder keg, of sorts? If this starts, then the whole middle east will turn into an inferno, no? So many questions.......I think there is little time. Our economy is not doing it's best, because the kids going back to school sales effected the consumer retail spending. Any one have any idea on how this all will be resolved?
Anyone who thinks they can put a timeframe on the default of the Comex or LBMA is terribly mistaken IMO. This is a marathon, not a sprint.
Here are just a few of the things that one would have to know for sure in order to make a call:
1) How much gold does the US actually have in its reserves?
2) How low is the US prepared to allow its gold reserves to fall before calling a halt?
3) How much gold do the Chinese have?
4) How much gold does China want to accumulate?
5) How low will the Custodians of the fractionally backed ETfs allow their gold holdings to go?
6) How much physical can the international banking community loot from desperate central banks around the world?
I've been observing each of these for several years. Fascinating stuff.
I am thinking that it may have gotten out of hand now, so to speak. At first, the US spoke up and then Russia started to pound it's proverbial chest with a dare. Now......it has turned into a game of "chicken", as I used to play.LOL. Get on a dirt bike and rev up the motor, like you will blast off and hit them.......he other hollers if you want to play chicken....you not wanting to look scared hollers back, "sure.......bring it on".LOL. Each is facing the other and the engine zooms and you blast off.......one is going to either turn and miss the other(the chicken) or hit them straight on. It seems like we are backed into a corner now, since Russia hollered to play "chicken". They think they are some thing, evidently, in that they are now saying to "bring it on". This is a tight spot to be in now, imo. This is just my interpretation, which could be wrong.