Many once had high hopes for emerging Asia, but count this development as one more piece of evidence that they’re as backward as ever over there, spending time and money foolishly building a vault to store upwards of 2,000 tonnes of gold bullion as detailed in this report at Bloomberg when they could be buying shares of U.S. stocks and making a fortune.
The vault can store over $80 billion worth of gold bars at today’s prices, much of that metal transferred from vaults in London and New York as part of the ongoing flow from West to East, what Warren Buffett would no doubt deem a colossal waste.
