Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

China Finally Reveals How Much Gold It Has DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

China Finally Reveals How Much Gold It Has

Post new topic   Reply to topic

Go down

China Finally Reveals How Much Gold It Has Empty China Finally Reveals How Much Gold It Has

Post by Ponee Tue Jul 21, 2015 12:07 pm

For the first time in six years, China has updated the status of their national gold reserves. As part of their move to join the IMF’s basket of currencies, they were asked to come clean on the amount of gold they’ve accumulated in recent years. However, the numbers they’ve given have left investors feeling skeptical.


China Finally Reveals How Much Gold It Has Gold-bullion1

Officially, they now have 1,658 tons of gold. The last time that number was updated in April of 2009, it stood at 1,054 tons, which is roughly a 60% increase, and places their gold haul above Russia’s. That’s pretty impressive, but it falls far short of what investors had expected. When they first announced that they were going to reveal their stockpile two months ago, the most conservative estimates placed their gold holdings at 3000 tons, or double what they recently reported. Due to the fact that China is the largest gold producer, and nearly the largest gold importer, their current numbers are dubious at best.

As for why they may still be under reporting their gold reserves, they probably don’t want to alarm the markets. They want to keep prices low so they can keep accumulating more, which given the amount of gold they’ve officially bought, they’re obviously determined to keep buying. And since the price of gold and the value of the dollar have an inverse relationship, they want to keep gold low so that their massive dollar reserves stay valuable (which they’re still in the process of selling). At some point they’re going to use their gold reserves to challenge the supremacy of the dollar, but for now, they’re going to keep prices low while they hoard as much as they can.
See how the Chinese are faking their economic data.


Delivered by The Daily Sheeple


Contributed by Joshua Krause of The Daily Sheeple.
Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .


http://www.thedailysheeple.com/china-finally-reveals-its-gold-reserves_072015

*****************
Ponee
Ponee
Admin
Admin

Posts : 38061
Join date : 2011-08-09

View user profile

Back to top Go down

China Finally Reveals How Much Gold It Has Empty Re: China Finally Reveals How Much Gold It Has

Post by Kevind53 Tue Jul 21, 2015 12:45 pm

Or they simply do not have as much as some thought they had because they have been spending their money recklessly on a massive military and unneeded infrastructure, and are in reality worse of than the US economically.

Another possible explanation is that they actually do have that much gold, but are under reporting it because they fear that revealing how much they have would either a) drive down gold prices negatively effecting their reserve levels or, (more likely IMO,) b) admitting how much they actually have would drive the value of the Yaun up making their exports less competitive on the world market.

*****************
Trust but Verify --- R Reagan Suspect

"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

 China Finally Reveals How Much Gold It Has 2805820865  China Finally Reveals How Much Gold It Has 2805820865  China Finally Reveals How Much Gold It Has 2805820865  China Finally Reveals How Much Gold It Has 2805820865
Kevind53
Kevind53
Super Moderator
Super Moderator

Posts : 27225
Join date : 2011-08-09
Age : 21
Location : Umm right here!

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You can reply to topics in this forum