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India dumps dollars for IMF gold - is China next in line?
Submitted by paul4won on Tue, 11/03/2009 - 07:58
http://www.mineweb.co.za/mineweb/view/mineweb/en/page72068?o... Funny how that worked out... » |
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Bump cause i want to hear
Bump
cause i want to hear some discussion on this.
Trying to make
sense of all of this. There are so many questions don't know where to start.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
According to Bloomberg:
"China, the world’s biggest gold producer, has increased reserves of the metal by 76 percent to 1,054 tons since 2003 and has the fifth-biggest holdings by country, Hu Xiaolian, head of the State Administration of Foreign Exchange, said in April.
The nation may purchase some of the 403.3 tons of gold being offered by the IMF, Market News International reported in September, citing two unidentified government officials."
Remember the spin of the last couple of years that IMF gold sales will flood the market and depress the price? "The average price to India, the biggest consumer, was about $1,045 an ounce, an IMF official said on a conference call."
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAkoE...
Thanks for Posting
This should be very bullish for gold!
Freedom, Prosperity and Peace
Freedom, Prosperity and Peace
Hmmm, and little interest at the DP...
I thought it was a pretty big story, myself.
Truth exists, and it deserves to be cherished.
There was a post yesterday
or last night, but it didn't get much attention either.
it is, but most people do
it is, but most people do not understand what is going on or just don't care..
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.