China's Demand For Gold Could Send Gold ETF Prices Soaring http://etfdailynews.com/2011/07/05/chinas-demand-for-gold-could-send-gold-etf-prices-soaring/ "Chinese gold Panda coins are being bought up by the millions..." "Adored by collectors around the world, the golden Pandas tell a much larger story about the Chinese economy. Only 16,000 of the one-ounce Pandas were minted when they were first introduced in 1982. But this year, a total of 300,000 Pandas were slated for stamping. That wasn't enough...." "Pandas are no longer collectors' items or legal tender. They are becoming the most popular investments for China's masses..." "The Journal also acknowledges that "China was the largest physical-bar and coin market in the world in the first quarter." In other words China is now leading the world in physical investment in gold." "As for competing investment products, none are proving to be as popular as golden Pandas, gold bars and gold-based investment certificates..." "Surprisingly, personal consumption of gold per capita is still lower in China than India. But, China has considerably higher per capita income than India, leaving considerable room for growth. China average gold holding is only one fourth of the global norm according to Zhong Wei, director of financial research at Beijing Normal University...." "...in the long run, it's a fair bet that China will become the world's largest gold consumer. Don't forget China's love for the gold Panda. It is one species that seems destined to continue multiplying..."
Too right OC Eventually it'll all end up in the hands of the state. China still has a command economy which limits property rights (just look at their crack down on private real estate). They'll eventually start chasing all that privately held gold...."for the good of the collective". Until China evolves into a true market economy, everything they do (including letting private citizens hold their own gold) is window dressing.
I'm not so sure about that - the Chinese leadership is reportedly nervous about civil unrest over the economy and food prices and wages, and are treading lightly, now that the Chinese have had a taste of some of the capitalist perks that a less restricted economy has brought them they will not want to be told that they have to give up their newfound prosperity. I think that it would be easier to get Americans to hand in their guns that to get Chinese to hand in their savings, i.e: their gold.
Jonesy, "I think that it would be easier to get Americans to hand in their guns that to get Chinese to hand in their savings, i.e: their gold." Agree 100% Which is one of the many reasons I do NOT believe the idea of a NWO will EVER fly!!! OC
