Tom Cloud provides an update on the Chinese SDR and gold announcement. He discusses several reasons why the Chinese have not made a public how much gold they hold in their official reserves. This is the first currency added to the IMF – International Monetary Fund SDR (Special Drawing Rights) in sixteen years.
Tom also shares his thoughts on what would happen if the Fed does get the authority from Congress to start buying stocks. While I believe the Fed & U.S. Treasury have already been buying stocks via the Presidents Working Group On Financial Markets secretly, once they can do it publicly, then it is a sign the the END IS NEAR.
Lastly, Tom Cloud now believes in owning 33% of ones assets in the precious metals. This is much higher than the standard 5-10% allocation recommended by some of the more well-known gold analysts, such as Jim Rickards. Tom explains the reasons he believes it is important to have one-third of one’s wealth in the precious metals
Tom also recommends for anyone who hasn’t listened to the Cloud Hard Assets Precious Metals Webinar with the SRSrocco Report, to check it out below. There is a lot of good information to help educate new investors to the precious metals industry.
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