Currency Wars

rakeitinrakeitin Posts: 4 Tin ✭
edited December 2015 in About Gold
From Stansberry Research: " a group of 25 Chinese engineers and geologists showed up with gear and hit the ground with no safety briefing. They began mapping and testing the area. They did 90 days of work in 3 weeks.

That mine will produce 10,000 ounces of gold per year assuming the deposit is not expanded once in operation.

So this is third piece of the puzzle. Just how much gold is China consuming in this method? How many of these private arrangements are in place over Africa, Indochina, South America and around the world?

Keep in mind, China has more than $3.7 trillion in foreign exchange reserves.

And just a few months ago, they launched the Asia Infrastructure Investment Bank... It's basically China's answer to the World Bank... a "development" organization that will be glad to build roads, schools and hospitals in poor countries all over the world... as long as their governments "play ball" with the counties' buried riches.

So when you account for the gold China is absorbing from projects like this one - all over the world...

...plus the covert purchases CIA insider Jim Rickards talks about...

...plus the 2,000 tons or more that disappeared into China just in the last three years...

...plus the potential gold flows from China's citizen "Gold Army" and its projects in the developing world...

...plus the 1,693 tons that China officially admits to holding...

...an estimate of 8,134 tons (1 ton more than the U.S.) may be too low.

To me, the facts are undeniable. And remember, I haven't even added in the totals, from all of the sources I mentioned, for the first half of 2015.

Of course, here's the best part...

Even if this rumor is completely wrong... and China hasn't already surpassed the United States...

...the simple fact is that China is accumulating gold at an unprecedented rate... and these events are going to play out in the very near future - much sooner than anyone thinks.

China's announcement will confirm that thousands of tons of physical gold are gone from the markets (likely for good). It will set off a buying frenzy among rival central banks."

It seems like a good reason to buy BitGold.

Comments

  • GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
    I am of sufficient age that I can remember the Cultural Revolution under Chairman Mao. It was nuts. And very dangerous, especially for the elites like university professors who were dragged out of their classes by young zealots and sent of to camps to be brainwashed. Or killed. Those days are gone. Or are they? The country is still run by the same Communist Party and people are still expected to do what they are told.

    My point is that China is not run like other advanced economies and cultures so we should expect the unexpected. Given its history it is no wonder the Chinese love their gold. So yes, we can expect the trend of swapping dollars for gold to continue. The real question is what happens after they get all the gold they want or need?
  • UvasUvas Posts: 680 Silver ✭✭✭✭
    10,000 ounces a year is a fairly small operation. I am currently invested in a small company in Australia that plans to mine 30-40,000 ounces a year.

    Worldwide production of gold stands at about 2500 tons a year, or around 80 million ounces. (maths?)
  • KimKim Posts: 636 Bronze ✭✭✭
  • rohanibuang61rohanibuang61 Posts: 2,379 Gold ✭✭✭✭✭
    Hi @ Uvas. Just asking if there is a way or an opportunity for BitGold members outside Australia to invest the same as you did in Australia?
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