China’s gold holdings are 10x more than it admits, why it's secretly hoarding gold - Dominic Frisby

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Dominic Frisby, Founder of www.theflyingfrisby.com/, who explains why China is secretly buying gold. Frisby says China’s actual gold holdings are ten times larger than what is officially being reported. He discusses the weaponization of money and says that if China were to admit its real gold stash, it would equate to a declaration of war on the United States. Frisby also weighs in on the chances of a gold-backed currency and gives his price forecasts for gold and Bitcoin.
Special coverage of the New Orleans Investment Conference is brought to you by Discovery Group 👉 www.discoverygroup.ca/
Follow Michelle Makori on X: @MichelleMakori ( / michellemakori )
Follow Kitco News on X: @KitcoNewsNOW ( / kitconewsnow )
Follow Dominic Frisby on X: @DominicFrisby ( / dominicfrisby )
00:00 - Intro
02:05 - The Cockroach Portfolio
08:26 - Gold outlook & miners
23:24 - Why China's gold holdings are 10 times what it say they are
28:55 - Gold-backed currency
34:20 - Weaponization of money
36:35 - Bitcoin
46:13- Gold & Bitcoin price forecasts
__________________________________________________________________
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[@timbimjim514]

Physical gold and an ETF aren't the same

[@BassRott]

Yeah...that part was odd

[@Feracitus]

for big investors they are. it's not like you can easily stock 2 tons of gold in your backyard.

[@timbimjim514]

@@Feracitus The size of the investor is immaterial. An ETF is, by definition not physical gold. By the way, a metric tonne of gold would be a cube with about 37 cm per side,small enough for the smallest of back yards.

[@user-jq4ew2ft8j]

ETF isn't worth believing that gold exists in their warehouses. she is listening to him very carefully. He hold a crucial hidden secrete. So, thank you, you two. The truth can't be completely hidden. Silver start to increase its value in my understanding.

[@AIrtfical]

@@Feracitussure you can if you can own 2 tons of gold

[@COUNTINGSLURPULA]

One that holds nothing has nothing, and that's exactly where the WEF wants you.

[@mattmatt6572]

One who has nothing, has nothing to loose. And that is not where those want power want the people they wish to control.

[@dreb4223]

but I hold all these wonderful things that I pay monthly for!

[@1rjona]

Only for those who are under the control of WEF. You’d be surprised how many individuals are not outside the Western World

[@BWater-yq3jx]

You will own nothing and you will be happy. Or You will own F all, and you will be... f**ked. 😬

[@samgreen23]

​@@mattmatt6572sure it is, hungry stomachs are an enticing method to achieve this. Especially if we are trapped in a digital hell. You may not have anything, but if they can control how food is distributed, you'll listen real quick. People need to wake up to this.

[@moon1val]

Nice to see Dominic on Kitco !

[@adelsasumi]

Huge respect for Dominic Frisby for not financing criminal organizations (not buying government bonds).

[@user-jo6iq1uh4z]

yeah,and The British one is called Guilts

[@vbonzo]

What a fascinating man. His view of our attraction to gold was stunning,

[@leroyjones6170]

Bitcoin still isn’t anonymous. I think the statists will grow to love it. Every transaction indelibly recorded.

[@user-xg6yc8ho3w]

I know it's great. Imagine if everything is switched to a bitcoin standard, and all government spending is transparent on the bitcoin blockchain for all to see.

[@leroyjones6170]

GOV spending yes I am on board with. For the citizens currency BTC is not good at all.@@user-xg6yc8ho3w

[@willschreifels8490]

There was 650 plane loads of gold taken out of the Vatican tunnels valued at 25 quintillion dollars.....thats 19 zeros. Silver is the rare one

[@Mark-pb8kj]

you got any proof of this

[@therealscot2491]

Proof plz....

[@SnowAngelfish]

Nope. Silver is 15x more abundant than gold per a give quantity of ore.

[@dr.ulyssesswlabr6642]

Brilliant perspective! Gold and silver are a constant through time, always valuable, always used. Central banks (particularly Russia and China) have been hoarding gold over the last decade because they know it's the foundation of future economic power.

[@markweaks2239]

Yes! And when they spend it all, look out! Theyll be handing it over for all kinds of things. The spending of all that gold will fascinate the world as its power goes out of China into other economies all over the world in trade until its distributed everywhere. Hopefully China will hold on to a little bit of it and not just blow it all. Gold. Who would spend it? China, right.

[@tonnypedersen5915]

hoarding is just another name for saving up.

[@mongooseeight311]

Wow. What an enlightening interview! Love it!

[@Metal_seer]

Even gold-backed currencies are not 100% backed by gold.

[@eddiefigueroa9080]

Nice explanation of China’s gold holdings. Sounds reasonable. Kudos to Dominic.

[@bbcdsatoshi]

Nice one Dom!

[@patrickmcguire8565]

Absolutely Brilliant

[@jonsalvador5051]

This guys was fun and very informative, thanks.

[@dogbox2290]

Very cool ☀️🌴Gold is the giddy limit of first principles. Fascinating. Thanks Michelle

[@patrickholland5478]

Fantastic as always.

[@stephenpaul4258]

Regardless of the electronic currency today etc Gold still holds its value . tradeability and usability. I dont like BTC because there are so many criminals hacking wallets

[@imconfused1237]

Except, gold hasn’t ‘held its value’ at all. Inflation has annihilated any hilarious belief that it was a “hedge” 😂 It is a mathematical fact, that I can buy more gold today than I could a year ago, with the same amount of money. If you don’t understand that very simple concept, stop kidding yourself that you’re an “investor”.

[@samgreen23]

​​@@imconfused1237what are you smoking, gold has held its value entirely. Just because you believe the corrupt numbers doesn't make your statement true, it makes you unbelievably naive. Manipulation of currencies doesn't mean gold doesn't hold its value. While the price of gold in currencies has stayed the same or moved slowly higher, everything else valued in gold has GOTTEN CHEAPER. So much for your thesis. i'd like to know where you collect your data!

[@rimaskautsar4058]

great content!

[@DeanHiltonYoung]

Gold has no counterparty risk.

[@regularcustomer8285]

But you need to understand the touch of gold , on the hand, makes a customer react.

[@renegademind1833]

Most excellent Interview.. Thank you.

[@R-Woz]

One of your Best!

[@gastUCR]

Bitcoins is good because you can go through customs with nothing. Gold is good because you can hide your wealth outside all systems.

[@dreb4223]

gold is good for forgetful people too

[@frankv8858]

Airport security's purpose is to prevent the free movement of gold.

[@joeygee11]

And in your teeth

[@williamholden4312]

It’s like watching one of the band members from the movie Spinal Tap discuss financial planning and economics.

[@ginayoung6900]

Thank you Michelle!! My hat is off to you!

[@Dark_Embracer]

Michelle looking lovely as ever 😍😘

[@TommasoLucaSanna]

Great interview. Another good one Michelle!

[@statecraft3603]

This is one of the ultimate lesson all mortals must learn on this planet 🎉

[@schmileyboy]

Putin says thanks for isolating him from the banking crisis

[@rockytop6077]

😂😂😂😂😂

[@jhchooo]

Man Michelle Makori is well put together.

[@shermansheepherda8488]

Elon Musk built her she is an Android

[@CAPT1933]

Lots of surgeries……😢

[@LarryDickman1]

Nice twins to keep my ears warm.

[@anyfriendofkevinbaconisafr177]

​@@LarryDickman1Her cheeks?

[@TerryAShaw]

​@@LarryDickman1Mmmmmm, comfy.

[@ddprepper5227]

Excellent report 👍👍👍👍👍

[@tommysevens2242]

The U.S.A. Government owns a substantial portion of "Bitcorn". I wouldn't touch it period.

[@randywhelchel4674]

Weren’t those Enron guys supposed to be the smartest people in the room?😂😂😂😂😂

[@anahitakatrak5995]

Well Researched

[@szeref]

Excellent interview!

[@hectorg.m.3350]

Great guest! 👏

[@BatmanBoss]

Dominic ❤

[@keviliciousatyourservice9510]

The main reason today, that out of over 100 currencies, zero of them are "backed" by gold, is that as they print the currency with no limit, they outstrip soon, the amount of gold they said they would keep to "back" the currency. Every "Gold-backed-currency", in human history, has failed.

[@khtan585]

No point eh ..... just keep printing those USD ❤❤❤

[@stevetaffy8780]

Stupid comment. All currency Gold backed never failed. When the central banks printed AND held gold created all issues. Check your history

[@rockytop6077]

Moron😂

[@keviliciousatyourservice9510]

They always have violated any"glod-backing" and always will.... so the stupid thing to do, is to fall for the same trick when some country states they will "gold-back" their currency, but not let anyone into "Fort Knox" - to count the gold they say they have. It is a lie that has been tried too many times during the written portion of our history, for it to be believed. Back when society had the memory of a goldfish, this could be tried again and again, because people did not remember all of the times it had been tried and failed. @@stevetaffy8780

[@Mark-pb8kj]

And the US dollar is no longer gold backed

[@jakubkielar9708]

Amazing interview

[@KingKong-li2lg]

Michelle is Awesome Sauce!

[@vindiesel5466]

One of the hottest

[@kausikbasu7604]

Fascinating...

[@California511]

Excellent interview 👍🏻👍🏻👍🏻

[@kitco]

Glad you enjoyed it. Thanks for watching!

[@josephlam1385]

A very refreshing conversation, thank you!

[@davidotness6199]

Alasdair Macleod of Gold Money Research, a former investment banker who I think among the most knowledgeable on the subject of gold, puts the Chinese holdings at up to 40,000 tons with half of it held by the general public.

[@deebee5310]

40 tons? As of September 2021, there were approximately 31,695 tons of gold reserves in the world. would china inflate holdings ? real gold.

[@rap3208]

@@deebee5310 You don't ever use a search engine? Try this, type this question in google or any other search engine, "how much gold has been mined in human history". make it a habit to use a search engine whenever you have a question, saves you from embarassment when you insist on making comments, takes only afew seconds. I prpbably use it 20 to 40 times a day.

[@campbellfalls7430]

Ty

[@dave5185]

I'm pro-Ukraine, but one downside of the US freezing Russia's assets is it has all countries questioning whether they want to role out CBDCs as that allows easier freezing / confiscation of funds.

[@rockytop6077]

Really? I'm pro human

[@zkal11]

@@rockytop6077 I'm anti-human. Have you seen the crap we do?

[@SUNNMANN139]

Excellent guest, Dominic Frisby is. This video is the best one I've seen from Kitco News on the subject of Gold. One leaves this video with one realization - Gold is permanent, Bitcoin is fragile.

[@dreb4223]

bitcoin is only representative of a near-perfect process. gold-backed blockchain is inevitable.

[@sciagurrato1831]

Guy is a self-taught amateur - can’t compare to Matt Piepenberg.

[@T-T-T-888]

The only permanent thing about gold is the price manipulation.

[@SUNNMANN139]

Matt is certainly knowledgeable on Gold. But don't forget to mention Alasdair MacLeod.

[@SUNNMANN139]

The Chinese will definitely agree with you - Russians too. Blockchain is the most advanced digital accounting tool to date. But when the digital accounting tool gets hit with a glitch (and it will), I can still function in my community with my REAL Gold and Silver in my REAL hand.

[@agaragar21]

Please no more Facial Filler !

[@peterprescott9041]

Just remove the electricity.

[@bunrisl]

Very charming and very useful interview, thanks Dominic and Michelle.

[@daussamp8054]

Ridiculous description of Golds origin. There is no space.

[@jameskelly9243]

If a gold etf goes under its backed by nothing

[@brian6x]

@43.37 - Not nuclear to break bitcoin, but a EM Pulse?

[@Run4Ever77]

If he is referring to Harry Browne's recommended portfolio (called the Permanent Portfolio), Harry recommended 25% stocks, 25% long-term US Treasury bonds; 25% cash/short-term T-bills; and 25% gold. He switched out the short-term cash and out in real estate when he described it.

[@user-mh3kp7we7i]

brilliant "the cockroach of all coachroaches"....this guy must have done tons of shrooms😂😂😂😂😂😂

[@contingencywoman8550]

At 15 mins: "The closest you will ever come to touching eternity". Nice. This man has a poetic soul.

[@Micaelbarnes]

He’s pretty adamant about gold and funding governments. Instead, he funds bankers with the fraudulent manipulated gold ETF’s. Sorry by physical everyone! Also silver is more manipulated then gold. 😉

[@pastexpiry2013B]

There are a few ETFs backed by actual gold. E.g. MNT in canada.

[@dreb4223]

we are lucky it is manipulated. gives you time to buy in. for sure it will correct again as it always has.

[@Micaelbarnes]

@@pastexpiry2013B PSLV is the only one backed by physical silver. None the less it’s still manipulated and controlled.

[@davidotness6199]

The secret of silver is the enormous amount of it covertly used in military applications. There is your price-fixing.

[@deankluver3596]

Michelle is so beautiful I love watching her she does a great job!

[@dave8212]

Beautiful interview! 💛

[@peterprescott9041]

They can survive in restaurant kitchens all over America.

[@petruflorintofoleanu5865]

GOLD. SILVER IS THE CREATION OF GOD FATHER AND NOTHING WILL REPLACE CREATION OF GOD FATHER

[@milinparekh3435]

Which stocks he suggested?

[@eliasbabich1938]

Very interesting 😢

[@franzbuchel7295]

Brilliant interview, interesting man. Thank you Michelle!

[@pjanke2]

China never lies 🤣

[@tnt_pkk1311]

You been living under a well?

[@renegademind1833]

Oh Yes, they the most trustworthy in the whole world.

[@mistercut8331]

and we can trust the US MSM to inform us with the truth

[@Buddhist_Gnome]

Does anyone else find it interesting that every article online about bitcoin has pictures of gold coins with B's on them to represent bitcoin.

[@user-tx4yn7en9u]

They are all saying 20-30k tons

[@mclucky7086]

China is ' secretly " buying gold but you know about it ?

[@CONTACTLIGHTTOMMY]

How many Chinese gold bars have lead cores?

[@Mark-pb8kj]

and theyre 24k plated

[@dessmith7658]

We test

[@bobsmith3983]

None. Lead is too easy to detect. Tungsten core in the good ones (density is about the same as gold).

[@user-jo6iq1uh4z]

Any news in the Rare Earth Metals Narkets?

[@gregspeth7910]

Gold, Gold, physical, gold, ETF, same thing😂😂😂

[@logann001]

Lost a lot of respect when he interviewed Richard Heart and didn't realise hex was a scam, very embarrassing for him.

[@enuajsifoto]

When he says, he’s waiting for the regime change in Moscow with his uranium purchases, he displays a complete lack of understanding of Geopolitical realities on the ground and beliefs built on the western media narrative - rather orthodox take for an unorthodox investor

[@syedmaricar9946]

Gold and silver for savers , Banks and money is for bonkers.

[@glenn9576]

Great description of Gold Beauty in this….

[@misty671]

Great guest.

[@love3peace3truth3]

And look at them now

[@martincorona6190]

NOT JUST CHINA IS AMBITIOUS- EVERY COUNTRY IS AMBITIOUS WHEN IT COMES TO GOLD.

[@MrFargo1001]

Maybe you should check the charts. Gold was $250.00 oz in 1970. As an example, the average auto price in 1970 was appx $5000. Gold is now $2000, 8x it's 1970 price. Autos are now $40,000, 8x it's 1970 price. In other words, gold has kept pace with price increases(aka Inflation). And that's good. BUT, don't fall into the trap of believing Gold's prices will be going thru the roof. Ain't gonna happen! Not to mention, you can't watch TV or Internet or radio without being inundated by Gold sellers offering all kinds of incentives to buy GOLD. If it was worth holding, they wouldn't be selling IT.

[@zkal11]

So...gold held it's purchasing power, but the dollar didn't, right? That is much of the point of owning gold. If say, our US gov prints its way of this debt sprial, the dollar would be devalued vs cars...and land...and gold, etc. I'm not sure gold WILL spike, but I am betting it will increase in dollar value and it's easier than investing in cars.

[@Sola_Scriptura_1.618]

He lost me when he said gold ETFs and Physical is the same. 😮

[@uptoapoint7157]

I have been following Dominic for 4 years. Update from April 2024: Bitcoin is at $ 68,000 and gold over $ 2300/oz.

[@renegademind1833]

He a perfect match, made in heaven, for Lynette.

[@bjd15664]

People now don't value "things"? How do I make sense of this in a society based where your "success" is based on the things you have?

[@herestomydownfall]

16:25 😆😆

[@Metal_seer]

Governments would NEVER base currency on Bitcoin

[@cabbys]

Frisbee is spot on so far.

[@Javier99999]

Never seen an interviewee react so strongly on kitco as Dominic did at 27:00. wonder what he knows. !

[@andrzejfrancikiewicz9964]

One year away china money's aa good as GOLD😅

[@campbellfalls7430]

Love this guy....great insight.

[@user-jo6iq1uh4z]

Mr B rown, excellent name and forssight......

[@sampur2]

This was 10/10

[@dogbox2290]

Immutable digital Au ❤💪🏻

[@Spacenow869]

How is it secretly if we know that they have ten times then they admit. Just last week we had sent them several tons of American gold at good prices. As for surviving nuclear war. In new york they recommended to stay indoor.

[@user-qj6vg8gp3l]

Who is we? The US sent china several tons of gold? Source?

[@evelynscarlett7983]

Engaging in an individual market option is a fair but its performance level can’t generate high dividends. Diversification is the secret to optimal performance, that’s why I have my interest set on options based on projected growth and performance.

[@yung1448]

can you explain in full on the market options you’re into, i’m curious•

[@evelynscarlett7983]

When it comes to finance growth, it’s wrong to engage in a single option. I suggest diversifying into various options with high performance coupled with the experience and aid of a finance Pro will generate bigger dividends and balance volatility.

[@evelynscarlett7983]

”Do not lay your eggs in one basket.” I engage on various options (real estate, real assets, index/mutual funds, ETFs, annuities, lDOs and many others) with the aid of my finance pro, and so far have acquired so much (amount is confidentiaI)

[@evelynscarlett7983]

sear ch the full name below, if you care

[@evelynscarlett7983]

IsabeIIe ChIoe Scott

[@Metal_seer]

There indeed might a correlation ( or reverse correlation) between pizza sales and economic conditions. Perhaps you could report on the PIZZA index during your broadcasts.

[@randomracki9453]

Gold based currency are the go

[@ianperry9914]

Good to see you Dominic , is Michelle actually real .

[@kitco]

Yes, Michelle is very real

[@kealani6535]

How does the confiscated gold factor into this? Is most of it stored in Cheyenne Mtn?

[@regularcustomer8285]

So you think the crowd pleasers should all chant, " We're not going to take it! We're not going to take it anymore? " I think there's better motivation, I'm swimming to go see.

[@jessiemartinfostersr.6067]

TREASON , GOLD HAS ALWAYS BEEN A SPECIAL INTREST OF THE CHINESE IN REFINING ALL COPPER ORE , ANOTHER CLINTON DEALS FOR A FEE ...

[@SnowAngelfish]

I think the fact that he only has 5% in Bitcoin says everything.

[@MrDodgedollar]

.. and bitcoin has doubled six months on Dominic🥰.. and Gold $2400.. Well projected sir!