Post by
theancient on Jul 19, 2015 7:12pm
The Stories About The Chinese And Gold
In about seven years the Chinese' gold reserves is up 57% from 1056 tonnes to 1658 tonnes, the initial reaction to the 57% increase pushed gold price up $15, after people realize 57% is only 7.8% growth a year, the price of gold started to drop.
The so-call experts speculate that the Chinese may possesses staggering 10X the official gold holding, they stop short of calling the Chinese are liars, they think the Chinese wants to surprise the world when the right time comes.
Well, we all made the wrong assumption that the Chinese will help to push the price of gold up. I think the Chinese wants to manipulate the gold price down just as much as the Fed.
Do you think the Chinese are dishonest, and or stupid?
If you are the gold buyer for China, do you want the price of to go up or down? LOL CHEERS GLTA.
Comment by
makingdough on Jul 19, 2015 7:24pm
Where did you get your info that experts believe the Chinese have 10 TIMES the gold they say they to? That's alarming, and I'd like to read it. Thanks.
Comment by
HARJAY on Jul 19, 2015 9:55pm
Article on Bloomberg - FYI
China's Been Hoarding Gold And It Isn't Likely to Stop
byEddie Van Der WaltLuzi-Ann Javier
Updated on