[NEWS] China's Gold Policy...

Discussion in 'Modern Chinese Coins & Medallions' started by yennus, Sep 10, 2011.

  1. yennus

    yennus Well-Known Member Silver Stacker

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    The Coin Analyst: China's Gold Policy and Alleged U.S. Government Suppression of Gold Prices

    http://www.coinweek.com/bullion-rep...ed-u-s-government-suppression-of-gold-prices/

    By now I'm sure most Silverstackers should have heard this info already, but here it is for those that haven't:

    ...China's goal is to keep increasing its gold reserves and acquiring as much gold as it can to help drive the price higher and higher with the ultimate purpose of ending the U.S. dollar's reserve currency status.

    According to Chinese sources, as quoted in the leaked U.S. government memo, "The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or Euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold."
     
  2. Bart

    Bart New Member

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    That's cool. They can have their gold pandas back from me when the price is right :)

    Do they have a position on silver?
     
  3. yennus

    yennus Well-Known Member Silver Stacker

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    hahaha... yeah they do actually... it's a 17% tax on almost all silver products :)
     

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