Author: laoda1

China Imports More Gold [Copy link] 中文

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Post time 2012-8-26 03:14:47 |Display all floors
laoda1 Post time: 2012-8-17 21:09
Have Gold Will Travel ............

I like the looks of it

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Post time 2012-8-28 19:10:05 |Display all floors
China Launching Gold Backed Global Currency!

Sunday, August 12, 2012 17:14

China is busy recasting all of their gold reserves into smaller one kilo bars in order to issue a new ‘gold backed’ global currency. This is no doubt the reason for the recent trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. Expect to see more nations sign new trade agreements with China in the near future.

GATA now estimates that 80% of the gold (40.000 metric tons) supposedly stored in the vaults/allocated accounts of the bullion brokerages is long gone. Clients retrieving their allocated gold have had much trouble in doing so, and when they do manage to take possession, their gold does not bear the registered serial numbers they are supposed to. One can only wonder how much of the allocated gold is now 1 kilo bars. Additionally we now read that China is interested in purchasing Gold mines.

CHINA RECASTS GOLD BARS

China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based USDollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.

The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizeable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic USTreasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.

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Post time 2012-8-29 17:23:38 |Display all floors
Russia, Turkey, Ukraine Buy Gold But Bullion Tiny Part Of Global FX Reserves


Russia, Turkey, Ukraine and the Kyrgyz Republic have again expanded their gold reserves.

July saw Russia’s biggest increase since since October and Kazakhstan increased their bullion reserves for a 12th consecutive month.

Gold now accounts for about 9.2% of Russia’s total reserves and 16% of Kazakhstan’s, according to the World Gold Council.

That compares with more than 70% for the U.S. and Germany, the biggest bullion holders and less than 2% for China.

IMF World Gold Reserves in Millions Fine Troy Ounces– (Bloomberg)

Central banks were net sellers for the best part of 50 years despite the massive increase in the global money supply and indeed of international foreign exchange reserves in that period and especially in recent years (see important charts above).

Therefore, there is a real possibility that the recent shift to becoming net buyers may be a game changer as central banks are now likely to be net buyers for a long number of years to come.

This will provide a fundamental pillar of support under the market.

China’s undeclared official gold reserve purchases remains an elephant in the room in the gold market with very little coverage of or analysis of the People’s Bank of China’s quiet and untransparent accumulation of gold.

In the coming months, one can expect that China will announce that they have doubled their gold reserves to over 2,000 tonnes. This announcement may again shock the market and drive prices higher as did their announcement in April 2009 which surprised those less informed about the gold market.

The People’s Bank of China will not telegraph its intentions or purchases to the market as doing so would lead to a surging gold price and to a further devaluation of its foreign exchange reserves.

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Post time 2012-8-29 17:23:54 |Display all floors
Russia, Turkey, Ukraine Buy Gold But Bullion Tiny Part Of Global FX Reserves


Russia, Turkey, Ukraine and the Kyrgyz Republic have again expanded their gold reserves.

July saw Russia’s biggest increase since since October and Kazakhstan increased their bullion reserves for a 12th consecutive month.

Gold now accounts for about 9.2% of Russia’s total reserves and 16% of Kazakhstan’s, according to the World Gold Council.

That compares with more than 70% for the U.S. and Germany, the biggest bullion holders and less than 2% for China.

IMF World Gold Reserves in Millions Fine Troy Ounces– (Bloomberg)

Central banks were net sellers for the best part of 50 years despite the massive increase in the global money supply and indeed of international foreign exchange reserves in that period and especially in recent years (see important charts above).

Therefore, there is a real possibility that the recent shift to becoming net buyers may be a game changer as central banks are now likely to be net buyers for a long number of years to come.

This will provide a fundamental pillar of support under the market.

China’s undeclared official gold reserve purchases remains an elephant in the room in the gold market with very little coverage of or analysis of the People’s Bank of China’s quiet and untransparent accumulation of gold.

In the coming months, one can expect that China will announce that they have doubled their gold reserves to over 2,000 tonnes. This announcement may again shock the market and drive prices higher as did their announcement in April 2009 which surprised those less informed about the gold market.

The People’s Bank of China will not telegraph its intentions or purchases to the market as doing so would lead to a surging gold price and to a further devaluation of its foreign exchange reserves.

Use magic tools Report

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