Some Stacks in China

Discussion in 'Gold' started by Golden ChipMunk, May 20, 2016.

  1. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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  2. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Yeh, but they're all fake. :(
     
  3. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    Even if real you won't believe it
     
  4. JulieW

    JulieW Well-Known Member Silver Stacker

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    Is that the total 3000 tonnes that China has?

    :lol: :lol: :lol:
     
  5. House

    House Well-Known Member Silver Stacker

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    Estonian Stack

    [​IMG]
     
  6. encik

    encik Member

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    A couple of field photos here taken on a recent trip to southern China at a branch of CCB (one of China's big four banks). It's just a glimpse of what's available for the man-on-the-street stacker over there. Yes, the items on the shelves are exact replicas for security purposes and doesn't yet include the latest products, but they'll show you the real stuff at the counter when you are actually buying.

    [​IMG]

    [​IMG]

    [​IMG]

    [​IMG]

    .. Well, the belief that their government has got giant hoards of the metal is not unfathomable given their current day financial might and ambitions. Just personal views here.
     
  7. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    ^^^ :)
    Does anyone knows what a Golden Key represent??
     
  8. milkyspot

    milkyspot Member

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    Maybe it unlocks somebodys chasity belt?? ^^
     
  9. madaw1

    madaw1 Well-Known Member

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    Golden Key will open golden vault/of course in China/
     
  10. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    I've heard a Hong Kong ex-pat use an expression: "Born with a golden key in his/her mouth".

    The meaning of the expression is similar to "Born with a silver spoon in his/her mouth". The idea of being born into inheritable wealth.

    The implication is that the golden key opens doors (bank vault doors, connections into exclusive clubs etc.)

    Its the type of gift that the Chinese noveau riche craves as an affirmation of their status.
     
  11. encik

    encik Member

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    [imgz=http://forums.silverstackers.com/uploads/16219_ctf_lc_scb_au_1tael_x_4_-_01.jpg][​IMG][/imgz]

    [imgz=http://forums.silverstackers.com/uploads/16219_ctf_lc_scb_au_1tael_x_4_-_02.jpg][​IMG][/imgz]

    [imgz=http://forums.silverstackers.com/uploads/16219_lc_au_1tael_x_2.jpg][​IMG][/imgz]
     
  12. Old Codger

    Old Codger Active Member Silver Stacker

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    My guess is they have well over 10,000 tons.

    They dig gold out of the ground at the rate of over 400 tons a year, and ALL of that is retained. Some of that is costing $2000 an ounce to mine. so i read a while back. They are buying it on the open market at the rate of over 1000 tons a year, and all that for probably the last 5 years at least.

    They will do that until SHTFD dawns.

    JMO


    OC
     
  13. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    They doing it back their yuan with gold?
     
  14. Old Codger

    Old Codger Active Member Silver Stacker

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    In due course, yes probably.
     
  15. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Doesnt China export more gold than they buy?
     
  16. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    OC I think so too.

    China is biggest gold producer and if they are hoarding gold to back it's currency then that can only be a good thing for us PM stackers if less PMs in circulation. Russia is doing same too I think and maybe other Asian nations too.
     
  17. masmas

    masmas New Member

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    Correct, if that's the case when the USD is collapsing or there is another GFC, then China, Russia and India could be the next strong economy due to the Gold reserve they have accumulated now ? :mad:
     
  18. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    I made a bet with a member here that the Chinese yuan will replace the USD as the world reserve currency before end of 2020.
     
  19. masmas

    masmas New Member

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    Skyrocket,

    Yes I'm with you in that case.
    So far on the 1st October 2016, CNY is now part of the SDR (the 3rd ones beating JPY and GBP).

    USD domination must come to end for sure in the next decade.
     
  20. billybob888

    billybob888 Well-Known Member Silver Stacker

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    Not going to happen.

    How much do you want to bet with me?
     

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