Author Topic: Bank of China Director Urges China to Increase Gold Holdings  (Read 1130 times)

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Offline Panda Halves

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Bank of China Director Urges China to Increase Gold Holdings
« on: December 27, 2011, 06:18:18 PM »
""The Chinese government should not only be cautious of the imported risk caused by rising global inflation, but also further optimize its foreign-exchange portfolio and purchase gold assets when the gold price shows a favorable fluctuation," said Zhang Jianhua, director of the research bureau affiliated with the People's Bank of China (PBOC)." - China Daily

http://www.chinadaily.com.cn/usa/business/2011-12/27/content_14332943.htm

Offline GDG's

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Re: Bank of China Director Urges China to Increase Gold Holdings
« Reply #1 on: December 27, 2011, 07:27:41 PM »
Nice Post

>>>Zhang said bleak economic conditions, increasing international liquidity as countries turned to monetary easing and the resulting high inflation had dampened investors' confidence. He said that gold had become the only "safe haven" for risk-averse investors. "No asset is safe now. The only choice to hedge risks is to hold hard currency - gold."<<<

Makes me wonder why the U.S. government doesn't admit what QE 1,2,3 eventually does to a currency. I have a Zimbabwe 100 Trillion Dollar Banknote Framed and hung on my office wall. Just a reminder of what can happen.