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View Full Version : Chinese Gold Rush.......



Steal
20th May 2010, 05:14 PM
http://www.youtube.com/watch?v=SbUvvfJakfI

Blink
22nd May 2010, 08:03 PM
I like the warning at the ending. This is "bubble" for gold, like the other shitty bubbles. Don't think so. The only way for the gold bubble to collapse (hasn't even started yet), is for a total worldwide currency default, IMO.........

Trinity
22nd May 2010, 08:37 PM
Interesting. But if the Chinese are set to revalue their currency upwards verses the dollar would not this make Gold go down in price in Yuan. Unless of course if Gold goes up more than the Chinese revalue their currency then it doesn't matter.

gunDriller
23rd May 2010, 05:38 AM
Interesting. But if the Chinese are set to revalue their currency upwards verses the dollar would not this make Gold go down in price in Yuan. Unless of course if Gold goes up more than the Chinese revalue their currency then it doesn't matter.


exactly.

and they've been talking about revaluing the yuan by up to 40% - it is kept artificially low versus the dollar.

so, to the Chinese, $1200 gold now will cost the same as $1700 gold after they move the peg.

gold will just become that much cheaper for them. obviously they will be happy to trade in worthless FRN's for something of real value.

and if they have been burned by American tungsten gold bars, i don't think they'll be having much sympathy for Americans.

i still don't understand why they buy our Treasuries. i think the ChiComm's, as Rush Limbaugh calls them, must get a cut of the action. so the "leaders" have an incentive to keep the game going.

Trinity
23rd May 2010, 07:51 AM
i still don't understand why they buy our Treasuries.

That was part of the deal they made with the bankers in 1994 when they were allowed to "Devalue" their currency and jump start their export machine.