"10% for The Big Guy!" ™
Posted on 03/13/2024 6:27:47 AM PDT by Tell It Right
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The People’s Bank bought more gold (225 tonnes) last year than anyone else, but the real figures are higher – China likely uses state-owned enterprises and other bodies to buy and hold its gold, too.
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(Excerpt) Read more at internationalintrigue.io ...
The Chinese psyche REALLY prefers holding things physically.
If paper money and electronic money crashes you can always count on gold and silver.
When they take control of the planet, they won’t need to buy gold or bubble gum. Save their money until that happens.
Xi wants to make a parachute?
Probably because they have had paper money longer than anyone else and know how worthless it can be many times over.
IMHO, Chinese see value in THINGS, while western capitalists see value in PRODUCTIVITY. The general ability to get sh*t done is more valuable than a thing that sits there.
Silly Chicoms. Don’t they KNOW the world went off the “GOLD STANDARD” decades ago?
It’s why the US has nearly emptied its Ft. Knox vaults.
Derp!
Because they don’t want Auric Goldfinger getting it?
The Chinese Communist Party controls the Junkcoin so it will never buy those ,LOL
US Dollar inflation is up 33% over the last 10 years.
The US Dollar value of gold is up about 55% over the last ten years.
On the other hand, if China had invested in QQQ (Nasdaq 100), their investment would have increased 400%, plus a small annual dividend.
Chinese, japanese, Indians, etc are all crazy about golf for 4000+ years. Nothing new.
“China’s total gold reserves are now at around 2,257 tonnes, behind the US (8,134t), Germany (3,353t), Italy (2,452t), France (2,437t), and Russia (2,300t).”
I think these stats are from the IMF (which I trust about as far as I can spit).
I will suggest that the 4 or 5 CCP controlled banks have absorbed so much debt that the only recourse is to just deny the debt, close the banks and create a totally new Maoist/Xi economy.
The real estate development business has collapsed and left banks holding all sorts of bad loans and mortgages of incalcuable value. The automobile manufacturing industry has seen the closing of perhaps hundreds of manufacturers and untold numbers of jobs. There are literally tens of thousands of new autos sitting in fields unsold and unsalable.
The Gold might be used to salvage a new communist economy
Because they won't have any US politicians to buy after January 2025.
"10% for The Big Guy!" ™
The BRICS nations are positioning themselves to topple the dollar the reserve currency of the world.
Great way to topple our nation overnight
This is funny because very few if any people under 40 care about holding gold. Over the next 10-20 years we’ll see interest in gold as an investment decline to where only commodities traders hold it, same as copper or nickel. It will have value for jewelry and electronics and so forth, but I expect it will settle in around 1/3 to 2/3 of its current value as elderly goldbugs die off and one nation after another switches to cryptocurrencies for reserves. Serves China right...
Because they want to control the world.
Some day the Chinese are going to have a showdown with the islamists for control of the world.
Yet, the Chinese are more productive than the West...go figure.
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