With the Western central bankers conducting a clearance sale, and depleting their physical holdings in the process, China and Russia are importing gold at cheaper and cheaper price levels. In the war for gold, the East and West are still winning, but for vastly different reasons. Let me explain.................................................................... China loaned Mao’s gold to the NY central bank, and it would not [could not] return it. The gold was gone, loaned out, sold, we will not likely know the true story, but it was gone. Paper was the name of the game for the West. Physical gold, silver, and natural resources was, and still is the name of the game for China and Russia. Both have been dumping US Treasury bonds in exchange for gold, silver, and any other asset that is not a derivative of paper. Because of the NY central bank experience, China is out for revenge. How is the West winning in the war for gold supremacy? By default, which is all it knows how to do. The entire Western world remains in the financial grip of fiat obligations. Everything is dependent upon the central banking system that is close to collapse. The fiat Ponzi scheme is being kept afloat by China and Russia not forcing the totally insolvent Western banking system to make good on its debts. Instead, China is being rewarded by cheap gold prices and cheap New York real estate that comes with the added bonus of the largest commercial gold vault (they bought 1 Chase Plaza for $750 million, about half of its value, from JP Morgan which also happens to house the world’s largest gold vault) located across the street from the Federal Reserve gold vault. http://www.munknee.com/noonan-gold-war-replaced-cold-war-chinarussia-vs-u-s-struggle-economic-dominance/