In this video episode from Arcadia Economics, Vince Lanci provides some insights into how China is essentially re-monetizing Gold into the fabric of Chinese citizenry … some of the highlights from the video include …..

Chinese commercial banks have introduced a new service, allowing their customers to transfer their savings into bank-held gold accounts … this enables people to use their gold bullion account as a savings account … and the two accounts can be connected digitally … this service requires express approval from the People’s Bank of China (PBOC), so it is believed that China is using capital controls to encourage its citizens to buy more gold.

The banks, which are state-controlled, are now permitted to link savings accounts with gold accounts … investors can buy physical gold digitally … this new service was introduced after some investors received a text message from the Bank of Communications introducing a precious metal wallet service … the new service covers gold transaction-based services such as accumulation, trading, and conversion.

Customers’ precious metal shares provide a conversion value-added service, meaning that investors can convert precious metal shares into physical precious metal products within a specified time, such as jewelry and bars … the banks have upgraded their regular gold investment business to a precious metal wallet business recently … so the accounts will be changed to real-time, meaning that investors can buy gold with their savings account balance instantaneously.

One Gold product is sold by the gram … another type of Gold product offered by the precious metal wallet is fixed term fixed deposits, which supports dollar cost averaging … and in the future, gold is also expected to be tied to bonds.

China is encouraging its citizens to buy more gold for several reasons, one reason being; global risk aversion against economic uncertainties.

See the original video here …
https://youtu.be/so2nqcbAakc?t=125

This video was created by Arcadia Economics … view, support, & engage with more Arcadia Economics content at the following links …

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