Subject: Re: I have a silver coin. Sell me a barrel of oil
This interesting article shows who is holding gold and who is buying gold.

https://www.bullionvault.com/g...

The biggest recent buyers are China, India, Poland and Turkey. The U.S. and Europe hold the largest reserves but they aren't buying in significant amounts.

Frankly, if I was China I wouldn't invest my huge trade surplus in USDs or Treasuries, I'd buy gold. The U.S. will probably inflate away our gigantic fiscal deficits so the USDs will depreciate over time. And the likeliest response will be monetization of the debt -- permanent QE by the Fed, buying Treasuries with fiat dollars to suppress market interest rates.

But that doesn't tell us why silver is skyrocketing or whether it's just a bubble.

Wendy