Gold and China
China’s secret gold hoarding in a move to back their currency with gold could drive Prices to $10,000/oz. and beyond!
Gold is currently $1,628/oz. Do not wait another minute. Protect yourself by owning gold today.
China is ranked #1 in gold mining production worldwide.
China is buying gold mines all over the world. If they control the gold market many Countries with huge debt loads will see their currencies devalue vs the Chinese with little or no debt.
The time to buy gold is now before it moves up.
It is suspected that every year China accumulates 300 tonnes of gold, roughly 9.6 million ounces!
“China is considered a stealth buyer of gold… As the world’s largest producer of the metal, China often buys gold from its own mines and doesn’t report those sales publicly. Analysts suspect the country is continuing to buy gold and could in fact, be the world’s largest buyer consistently…” Boris Schlossberg, CNN Money.
China is expected to amass some 5,000 tons of gold over the next five years.
-source: Mining Journal.
No gold mined in China is allowed to leave the country before going to the Chinese government’s reserves. Foreign companies can only form joint ventures with local Chinese forms, but all gold must be sold to the Chinese government.
China is the world’s number one mine operator.
China is the world’s number one car manufacturer.
Yet, only own 40 vehicles per 1,000 inhabitants vs. 950 per 1,000 here in North America and 590 per 1,000 for our cousins in Europe.
Imaging the growth potential for cars there with a population of 1.3 Billion.
China is the number one exporter. Any way you look at it, China is the nation on the way up- and America is the nation on the way down.
China has nearly zero debt (-7%) compared with the U.S. debt which has a figure of -$15.9 Trillion or (-100%). United Kingdom (-400%), Germany (-142%) and France (-182%) countries that are expected to bail out Greece (-174%) and Spain (-154%). But how can they if they owe more than they make?
China has $3.2 trillion in cash and makes a billion every day, more than any other country. The U.S. has hardly any cash on hand and is forced to print more to keep their economy afloat, which only adds to the debt and forces the dollar down and commodities up. This is great for gold.
In 2011, China grew 9.1%, which is more than 7.5 times faster than the U.S., enough to nearly double the size of China’s already massive economy in one decade.