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Jason Burack of Wall St for Main St had on returning guest Craig Hemke aka Turd Ferguson of the TF Metals Report http://www.tfmetalsreport.com/ to talk about the gold market and China.
During this 20+ minute interview, Jason asks Craig if he thinks the Shanghai Gold Exchange will eventually replace the LBMA and COMEX for setting the global gold price. Craig thinks it’s inevitable and a question of when and not if this happens.
Next, Jason asks Craig where he thinks all the gold the US exports is coming from?
Craig says the US and UK are both exporting way more gold than they mine per year.
Jason and Craig discuss the SDR, metals markets and the global financial system and what role China is going to play going forward.