[nickcarraway]

the Chinese and Russians are putting alternatives in place to do so once the time is right.

China's markets started crashing in August when it turned out that they had half as much gold as people thought.

[agere_contra]

The Chinese declared their PBoC holdings.

However they studiously avoided declaring their holdings in the State Administration of Foreign Exchange (SAFE) and the China Investment Corporation (CIC).

SAFE, PBoC and CIC are all used to buy Gold. China has been buying (and mining) Gold like mad to hedge its UST holdings. At the barest minimum they have 5000 tons.

Of course, they also have a history of ludicrous malinvestment and an imploding credit bubble, so it's not all rosy for them.