calm on top, but working like all get out underneath.   Sadly, we are witnessing a relentless, crushing transfer of wealth from the west to the east.   Remember the barbarians as Rome went implaccably down the toilet:  they refused to any longer guard the degenerate and corrupt romans, unless they were paid in gold, as the Roman currency became worthless.   This too will happen to the Bankrupt West, as the citizens are going to experience a huge Greece like slide over this decade.   The math is very clear about this.


Tue Feb 5, 2013 9:12am EST

* Hong Kong exports 832.162 T gold to China in 2012

* Hong Kong imports 274.684 T gold from China

By Rujun Shen

SINGAPORE, Feb 5 (Reuters) - Hong Kong's net gold flow to mainland China jumped 47 percent in 2012 to a record high of 557.478 tonnes, indicating robust demand in China, which vies with India to be the world's top gold consumer.

Hong Kong shipped 114.372 tonnes of gold to China in December, also a record high for monthly exports. The former British colony received 19.644 tonnes of gold from the mainland in that month.

Its total gold shipments to China in 2012 jumped 94 percent from the 2011 total to over 832 tonnes, but imports also were six times higher at 274.684 tonnes, data from the Hong Kong Census and Statistics Department showed on Tuesday. (

"It is not a surprise," said Dan Smith, head of metals research at Standard Chartered. "Consumer and investment appetite was quite strong, and no one knows how much the central bank is buying."

Investors are waiting for a research report from the World Gold Council due next week, which will show whether China overtook India last year as the world's top gold consumer.


"This is a very strong number," said Nick Trevethan, senior commoditystrategist at ANZ in Singapore. "China's implied gold demand looks set to approach or exceed 1,000 tonnes based on Hong Kong trade data and the annualised gold production number."

The implied demand could reach 1,050 ton