Thursday, February 25, 2010


You know what they say: While the U.S. middle class dumps it's gold, the rest of the world buys...

This officially confirms the old adage that a rumor isn't true until it's been denied three times by official sources.  That China was interested in the rest of the IMF gold was denied at least three times.
China has confirmed the intention to purchase 191.3 tons of gold from the International Monetary Fund at an open auction, Finmarket news agency said...“Chinese officials have confirmed previous announcements from IMF experts and said that the purchasing of 191 tons of gold would not exert negative influence on the world market. China is interested in the development of the domestic consumer market,” the agency reports...Here's the link:  ChinaGold
So there you have it.  China, India, George Soros...who else is loading up the boat on the world's oldest and truest form of currency?

The most significant aspect of this announcement is that it is the first time, at least that I'm aware of, that China has publicly revealed its appetite for large "chunks" of gold.  If you really analyze the message here, it's China's signal to the whole world that if someone has large quantity of gold to sell, they are the buyer.


  1. ahhh how reliable is this news from pravda????

  2. China's speed to divest itself of USD denominated assets is only matched by that of Banana Ben's printing press.

    Joe M.

  3. @Anonymous: my view is that media reports coming from Russia/Pravda are far more reliable than ANYTHING you see in ANY U.S. mass media source.

  4. Bla...who is selling? Hell I am a buyer.

    Love those dips.

    Keep up the great work, long time lurker first time poster.

  5. Great nickname Hopium! Please post anytime.