Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Gold Bug

Like Tree5Likes
  • 1 Post By ancona

Reply
 
LinkBack Thread Tools
Old 02-05-2013, 09:25 AM   #1
Big-eyed bug
 
Join Date: Nov 2012
Posts: 416
Liked: 249 times
China Imports Record Amount Of Gold In December on price drop

http://www.zerohedge.com/news/2013-0...ber-price-drop

Quote :
China imported an all time record 114.4 tons of gold in the month of December
Quote :
This means that for all of 2012, total China imports of gold have hit a staggering 834.5 tons, double the 431 tons in 2011
Unbeatable is offline   Reply With Quote
Old 02-05-2013, 09:36 AM   #2
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
I'll bet these guys have well over 10,000 tons. One fine day, they will announce to the world that they are taking over as the worlds reserve currency. The Chinese government takes ownership of all domestic production, so how much metal have they mined in the last two decades? Add to that all the gold they buy in the open market and that which they buy surreptitiously, and you have one giant pile of shiny.
Unbeatable likes this.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 02-05-2013, 09:56 AM   #3
Big-eyed bug
 
Join Date: Nov 2012
Posts: 416
Liked: 249 times
Yeah I agree with your 10 000 tons+ number.

The only problem is we (The West) don't have a whole pile of shiny

So I can't see the 'powers that be' letting a real money currency exist because it would ruin the biggest paper con game in the world. (The Rothschilds are getting back into gold mining again so fingers crossed the switch will benefit them enough to let it pass.)

Also gold would be valued so high I can't see any of the Western countries not stealing it from their citizens.
Unbeatable is offline   Reply With Quote
Old 02-05-2013, 10:16 AM   #4
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
What we do have Unbeatable, is food. Lots and lots of food. I'm not sure who said it first, but "An army runs on it's stomach", so you can have a mopuntain of gold and a mountain of silver, but if the army is starving, it does you no good. If China wants to become the reserve currency hegemon, so be it. That is the point in time where we simply demand gold for our wheat and corn. ; - )
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 02-05-2013, 11:51 AM   #5
Moderator
 
Join Date: Oct 2011
Posts: 1,059
Liked: 459 times
Originally Posted by ancona View Post:
What we do have Unbeatable, is food. Lots and lots of food. I'm not sure who said it first, but "An army runs on it's stomach", so you can have a mopuntain of gold and a mountain of silver, but if the army is starving, it does you no good. If China wants to become the reserve currency hegemon, so be it. That is the point in time where we simply demand gold for our wheat and corn. ; - )
They are investing billions upon billions in Africa. I fully expect agriculture to boom there.
DSAbug is offline   Reply With Quote
Old 02-16-2013, 11:01 PM   #6
Mote in the Fed's eye
 
Join Date: Feb 2013
Posts: 16
Liked: 10 times
The Chinese government is ran like a well ran corporation and since they own all the major industries in China and run them fairly well (in terms of making profits of off them) they are better prepared then the US.

My wife's father is about to buy a new car and is going to be paying for it all in cash... How many Americans buy a house, car or anything else in cash (everyone does this in China, there is no 'borrowing' system. I mean you can, but people don't usually do it).
mazztech is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
India Raises Gold-Import Tax for Second Time; Prices Drop PMBug Gold Bug 24 02-08-2013 07:18 AM
India's Gujarat state almost doubles gold imports in Oct. PMBug Gold Bug 3 11-12-2012 06:57 AM
India's Q3 gold imports seen falling by a third PMBug Gold Bug 0 07-19-2012 08:13 AM
Gold price hits new record high in India PMBug Gold Bug 15 12-12-2011 05:33 AM
China Bought Massive Amount of Gold Today PMBug Gold Bug 8 11-21-2011 09:22 AM


All times are GMT -5. The time now is 02:48 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.