Excerpt from Crain’s New York Business quoting DataTrek’s Nick Colas:

…. “For governments that have an axe to grind to Washington, buying gold is one way to store value without helping the U.S. government fund its $1 trillion/year deficit,” observed Nicholas Colas at DataTrek Research in a report this morning. “In fact, they likely have to sell Treasuries to fund these purchases”….

Read the full article here on Crain’s NY!