HUGE NEWS- China stacks more than US (us)
Posted: Sun Jan 20, 2013 7:31 pm
the following story is huge, imo.
Zhang's not EXACTLY trash talking the dollar, but..........The Chinese and the "BRIC's" stack for exactly the same reason i do, in my lil guy way: quote, "as an insurance policy against unpredictable changes"......i think we're all in good company, the Chinese are smart, crafty.
here's the whole article: http://www.zerohedge.com/news/2013-01-1 ... dent-china
China now buys more gold than the Western world. With the global monetary system in a state of flux - with many nations creating bilateral and multilateral trade agreements to trade in non-dollar currencies, including gold - emerging market central banks see gold — the oldest existing form of money — as an insurance policy against unpredictable changes, and as a way to win global monetary influence. As Zhang Jianhua of the People’s Bank of China said: "No asset is safe now. The only choice to hedge risks is to hold hard currency - gold."
Zhang's not EXACTLY trash talking the dollar, but..........The Chinese and the "BRIC's" stack for exactly the same reason i do, in my lil guy way: quote, "as an insurance policy against unpredictable changes"......i think we're all in good company, the Chinese are smart, crafty.
here's the whole article: http://www.zerohedge.com/news/2013-01-1 ... dent-china