Posted on 03/12/2010 4:14:12 PM PST by TigerLikesRooster
China assesses its gold strategy
By Russell Hsiao
Chinese leaders convening in Beijing for the annual plenary session of the National People's Congress (NPC) - China's ceremonial legislature - this week will, among other things, hammer out a blueprint for the ascendancy of the country's currency, the yuan (or renminbi).
China's 2010 economic blueprint, which was officially unveiled at the plenary's opening, set the country's target growth rate at the proverbial 8%, which is the rate Chinese economists deem sufficient to generate enough domestic demand to make up for dwindling exports to regions such as the United States and Europe.
The 8% growth target has remained the same since 2004 and is also widely seen as politically necessary to create enough jobs to stave off social unrest. While the world's largest economy - the United States - struggles to stem the bleeding of jobs in its ailing economy, its biggest creditor - China - has been quietly increasing its gold reserves in an apparent effort to hedge the weakening value of the US dollar and stabilize the value of its massive foreign exchange (forex) reserves.
(Excerpt) Read more at atimes.com ...
P!
They are also attempting to purchase gold mines and Au mining rights in the USA using business fronts.
Do you have a link for that tidbit of information you could share?
Thanks in advance.
They contacted me directly twice.
Who? The Chicom government?
Auric?
Auric GOLDFINGER?
Is it really you...?!!
Chers!
I don’t know about Australia specifically, but googling “China Investment Corporation” gives lots of stories like this one:
“...China Investment Corp, one of the world’s largest sovereign wealth funds, is taking positions in some of the world’s larger gold miners, including Canada’s Kinross Gold, AngloGold Ashanti and Gold Fields of South Africa.”
oops replace USA for Australia there
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