A Chinese Revaluation of Gold and Silver is More Likely than a Comex Default
The prices of gold and silver will finally adjust, most likely not because of a long predicted Harvey Organ style Comex failure of delivery default, but when China decides that it has enough gold to declare a new higher price.
The country with the most gold has an interest in valuing its gold at the highest possible price.
The United States revalued gold 69% higher in 1934 from $20.67 an ounce to $35 after it confiscated its citizens gold leaving it with the largest gold holdings in the world.Will China soon do the same?
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