China’s ICBC buys giant London gold vault from Barclays

gold barclays

Mining.com: China’s ICBC Standard Bank aid on Monday it is buying a precious-metals vault from Barclays PLC’s, one of Europe’s largest vaults, in the latest move by the Chinese bank to increase its role in the precious metal’s market.

The agreement, which is due to close in July according to Bloomberg, will make ICBC Standard the only Chinese bank to operate a vault in London, a strategic market when it comes to trading and storing precious metals.  more here

5 Comments on China’s ICBC buys giant London gold vault from Barclays

  1. They are securing their place to be added as a reserve currency (IMF approved). I read the official announcement is slated for this October.

  2. The Chinks are a fuckin paper dragon.

    Socialism is a completely false, fake, delusional system which is bound to fail due to its phony foundations. It can survive a great while (witness USSR, Cuba, Soviet Bloc, China, &c.) through the application of raw force but will always fail because it is based on lies and imbecilities.

    Historically China has understood her limitations and has striven for a market hegemony rather than imperial. Sometimes nationalistic expansion masks rot (as a distended belly is sometimes filled with putrescent gasses) but at other times it’s a matter of necessity (market or populational).

    At this time in History, the Heathen Chinese are inscrutable.

    They still remain totalitarians, however, and must be watched. Are the Clintons still in hock to them? Has HRC ever answered for her treasons concerning the Chinks?

    izlamo delenda est …

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