The Real (and Untold) G-20 Story

I think that the big news will happen near the old coal mining town of Nemacolin.

About 70 miles southeast of Pittsburgh, near Uniontown (birthplace of George C. Marshall), the five-star resort at Nemacolin Woodlands is 100% booked. The Chinese are staying there. Just to be on the safe side, the state police are closing major roads for 10 miles in each direction. Access will be via helicopter to and from the Nemacolin airstrip. My informants tell me that quite a bit of the nitty-gritty of the G-20 will occur at remote Nemacolin, far from the street protesters who have showed up to camp in Pittsburgh.

My bet is that the biggest news to happen at the G-20 will happen there, but it won’t get reported, or won’t get reported in the way it deserves.

The news will be about how the Chinese and the International Monetary Fund have agreed on a sale of IMF gold to the Chinese state treasury. It’ll be 400 tonnes. It’ll increase Chinese state reserves by 40% overnight. The mainstream media will say nary a word.

But if you’re an Outstanding Investments reader, you know what I mean. I don’t even have to explain it to you. Yep. 400 tonnes. We’ll see.

The Daily Reckoning