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AAAU - Protect Your Portfolio With Gold Denominated In Renminbi
Goldman Sachs Physical Gold ETF
There is huge potential for an outflow of capital from China’s banking system into gold, Black Snow Capital founder Alexander Campbell told viewers of Real Vision’s Trade Ideas.
Campbell sees China dealing with its internal banking issues by “bailing everybody out” and “printing money and papering over the problem.”
“There are 30 trillion of deposits in Chinese banks right now, and if just one in 10 of those RMB go into buying gold, that’s all of last year’s gold demand,” he said. “So we like gold denominated in RMB. You win on the gold if