Ponce
1st January 2012, 09:39 AM
The are now saying this because they now have all that they need or want.....but of course they will getting more... by the way, the US is the #10 in the world in holding gold...and you know what that would mean if the other countries were to go on the gold standard.
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'Gold Is The Only Safe Haven Left'.
Gus Lubin | Dec. 27, 2011, 10:55 AM | 9,435 | 16
People's Bank of China official Zhang Jianhua declared yesterday: "No asset is safe now. The only choice to hedge risks is to hold hard currency - gold."
Zhang, the bank's research director, recommended buying the dips: "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."
China's $3.2 trillion in foreign reserves are currently invested one-third in U.S. treasuries 20 percent in euro-denominated assets and only 1.8 percent in gold, according to China Daily. China has one of the world's biggest gold reserves at 1,054 tons.
Read more: http://www.businessinsider.com/zhang-jianjua-gold-safe-haven-2011-12#ixzz1iGSe2pJP
================================================== ===
'Gold Is The Only Safe Haven Left'.
Gus Lubin | Dec. 27, 2011, 10:55 AM | 9,435 | 16
People's Bank of China official Zhang Jianhua declared yesterday: "No asset is safe now. The only choice to hedge risks is to hold hard currency - gold."
Zhang, the bank's research director, recommended buying the dips: "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."
China's $3.2 trillion in foreign reserves are currently invested one-third in U.S. treasuries 20 percent in euro-denominated assets and only 1.8 percent in gold, according to China Daily. China has one of the world's biggest gold reserves at 1,054 tons.
Read more: http://www.businessinsider.com/zhang-jianjua-gold-safe-haven-2011-12#ixzz1iGSe2pJP