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Interesting gold chart
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John Burns
Posted 11/14/2012 10:05 (#2696574)
Subject: Interesting gold chart

Pittsburg, Kansas

Thought this chart was interesting. I knew China has been increasing their gold reserves via official numbers but the official numbers are released very seldom leaving only speculation as to current accumulation.

China gold imports

It is interesting that the Chinese government is encouraging gold ownership in their population and the western world banking system looks at it as a barbarous relic. For the gold bulls it could be said the Chinese see something coming that makes gold a good asset to hold. For the gold bears they could say maybe the Chinese are just using gold as a bubble asset for a place where their excess currency can go to inflate, ie a replacement for property speculation. That might be plausible for individual ownership but that would not explain why the central bank was accumulating it. Maybe they are just not too bright? Maybe they know something we don't? Or at least what the common person doesn't know?

Just musings.

Potentially, in 4 years China gold holdings could exceed the US holdings if they continue on the same path. Hmmmmmm...........


Edited by John Burns 11/14/2012 10:10
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