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nologiks
Penny Sorter Member
83 Posts |
 Posted - 02/25/2010 : 12:48:14
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China to buy half the gold in the IMF fund? Anyone worried... Cause they obviously know something the US government doesnt right?
I know why they are buying it, because of the declining reserve currency.
What's your guys/girls opinion about this..
mine is that i need to start buying PM's like crazy.
Here is the article
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 02/25/2010 : 13:03:18
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More accurately, China is rumoured to be buying the remaining half of the already announced IMF gold sales (which are 1/8 of its total reserves).
Good news nonetheless. Gold is up on the news. |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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PointOmega
Penny Sorter Member
50 Posts |
 Posted - 02/25/2010 : 13:25:25
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| I heard India was in on the deal too. All it suggests to me is that China has serious reservations about the greenback, and our ability to pay back loans. For us gold and silver hoarders that's good news. For copper people, not so good. These developing countries need copper for growing infrastructure. But if we can't pay them back, they won't expand and the copper will stockpile, as it is now. Expect gold and silver to move one way, and copper to move another. Just like it happened today! |
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Think China Knows Something?
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