Why Are the Chinese Buying Record Quantities of Gold?

[myrobbins7]

This month, the Hong Kong Census and Statistics Department reported that China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best indication of China’s gold imports.

Why Are the Chinese Buying Record Quantities of Gold? - Forbes

Got Gold?

 

[CSpindizzy]

They listen to Glen Beck in Beijing?

 

[myrobbins7]

They listen to Glen Beck in Beijing?

lol:

 

[GAVol]

They told their broker to buy gourd futures and it got lost in translation.

 

[DEFENDTHISHOUSE]

Gold is not money per Ben Bernanke.

 

[Pepe_Silvia]

Gold is not money per Ben Bernanke.

It's not money if you can't print it at will.

Gotta love the Fed.

 

[lawgator1]

Teeth.

 

[MG1968]

electrical industry stuff? gold plated contacts are used on memory, expansion cards, etc.

don't see a problem here unless China thinks Ron Paul is going to win and they're launching a pre-emptive action to prevent the US from returning to a gold standard

 

[golfballs]

Because they are smart!

 

[golfballs]

The politically expedient way for countries to downsize their debt is just to monetize it. With it happening on a global scale, gold is a pretty safe investment. :twocents:

 

[n_huffhines]

electrical industry stuff? gold plated contacts are used on memory, expansion cards, etc.

don't see a problem here unless China thinks Ron Paul is going to win and they're launching a pre-emptive action to prevent the US from returning to a gold standard

What if the problem is that they think the dollars they've been investing in are becoming worthless? Isn't that cause for concern?

 

[VolsNSkinsFan]

Their US Treasurys Bonds they hold were up 28% last year. I doubt they are concerned

 

[n_huffhines]

Their US Treasurys Bonds they hold were up 28% last year. I doubt they are concerned

Do you have a link? I just found this:

China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011,

China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills | CNSnews.com

 

[possumslayer]

Creating a 2,000 foot Buddha to fight the Christian god Larry.
Posted via VolNation Mobile

 

[golfballs]

They're building an aircraft carrier made of gold

 

[VolsNSkinsFan]

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt


What's the difference between bills, notes and bonds?

T-bills are short-term obligations issued with a term of one year or less

Treasury notes and bonds, on the other hand, are securities that have a stated interest rate that is paid semi-annually until maturity. What makes notes and bonds different are the terms to maturity. Notes are issued in two-, three-, five- and 10-year terms. Conversely, bonds are long-term investments with terms of more than 10 years.

 

[n_huffhines]

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt


What's the difference between bills, notes and bonds?

Haha, I actually googled to find out if treasury bonds and treasury bills are the same thing, but couldn't find anything helpful.

Even still, that chart looks like Chinese holdings are decreasing:

Dec 2010 = 1160 billion
Nov 2011 = 1132 billion

Since bonds are long term, wouldn't bills be more indicative of how the Chinese feel about the dollar right now?

 

[VolsNSkinsFan]

I think it has more to do with manipulating the US Dollar to keep their exports cheap

 

[WA_Vol]

Because they like watching Bering Sea Gold on Discovery

 

[TheDeeble]

Because they like watching Bering Sea Gold on Discovery

Good show. I don't know how much expense they incur, but dang. Dude pulled in, what was it, 46oz in one day? $72,000. I know he has the biggest operation with the most costs but still, that's not bad.

 

[WA_Vol]

Good show. I don't know how much expense they incur, but dang. Dude pulled in, what was it, 46oz in one day? $72,000. I know he has the biggest operation with the most costs but still, that's not bad.

\yeah i like it, dont buy his arguement that they have that much expenses though :lol: that was a big day.

 

[TheDeeble]

\yeah i like it, dont buy his arguement that they have that much expenses though :lol: that was a big day.

What was it he said. 1 million in expenses each year or something like that? I have zero knowledge on what they do, and his dredger is bigger than the rest, but it looks like something someone built in their garage out of a boat graveyard. Like they took a small barge, put a single wide on it, and a trackhoe on the front. Maybe there is some fees and licensing stuff that costs a lot of money.

Kinda makes me feel bad for the Hoffman guys on Gold Rush seeing them pull up $72,000 in one day.