China Imports Record Amount Of Gold In December on price drop

[Unbeatable]

http://www.zerohedge.com/news/2013-02-05/china-imports-record-amount-gold-december-price-drop

China imported an all time record 114.4 tons of gold in the month of December

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

 

[ancona]

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]

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.

 

[ancona]

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. ; - )

 

[DSAbug]

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.

 

[mazztech]

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).