It qill only be a matter of time till the dollar go down chine is fludded with US dollar and have on 2% of their reserves in gold. The World is rnning short of gold. large instituition are buy up gold. gold can only increase in value. Wpuld suggest looking for companies with good properties, infrastructure and very near production.
EZ is in good position to do well, I have have few properties I am looking at must be less then 60M share, close to
Smelter, roads, of course good News Release whats in the ground, you would be surprised how many of these companies lie or stretch the truth on their infrastructure,
You almost have to go ther to see what they have.
Good luck I think Golds the way to go along with Ketchup
Rep. Kirk of Illinois leaks China’s plans to buy $80 billion worth of gold
(Patrick Kerr of CommodityBroker.Net) Rep. Kirk of Illinois leaks China’s plan to buy $80 billion worth of gold, to protect it’s massive foreign currency reserves from hyperinfaltion. China is particularily vulenrable to infaltion as governments around the world openly inflate their way out of the “Great Global Recession”. China currently has approximately 1% of their foreign currency reserves in gold vs the U.S. with 75%. China has less gold than Italy. China’s massive wealth accumulated over the last many years is all paper…hence China’s new label as the “Paper Tiger” of the global economy.
This is a Fox interview with U.S. Representative Kirk from Illinois about the dollar situation, in which he speaks candidly about both China and Geithner’s efforts to stave off panic about the deteriorating fundamental outlook for the U.S. dollar.
Near the end of the interview, you’ll hear Rep. Kirk indicate that China plans to buy $80 billion worth of gold in addition to ongoing efforts to expand their strategic petroleum reserve. The whole interview is worth a listen, but the $80 billion gold purchase plan is one of the biggest developments in the fundamental picture for gold since that same country revealed its prior buying to the tune of 1,054 tonnes.
“They funded a second strategic petroleum reserve and they plan to buy $80 billion worth of gold. That’s two Fort Knox’s. Both of those investments only make sense if you expect significant dollar inflation.”