http://seekingalpha.com/article/159962-china-urges-citizens-to-buy-gold-and-silver Why would they do this? Could it be that China is buying up all its production so it doesnt have to report how much it is buying and wants it citizens to buy gold & silver on the world market to get even more of the gold into china without the price going up too high? Whether or not the dollar becomes worthless in the future, the fact that china is buying unknown amounts of gold & silver and keeping it secret, strongly suggests that there is going to be a gold & silver bubble at the very least. The precious metal hording race has begun. The first ones in are the ones that make the most.
yeah agreed. i think the reason they are telling people to invest in gold and silver is to diversify. people there save a lot so they are at least diversifying the risk due to not wanting to buy the dollar on the same level as before. after the main world currency precious metals are the best bet for that kind of investment. it will rise further in the future but i think there will be another lul soon then will be the best time to buy. it will be between 6to18 months before it really rises. the next few years will be hard.
China can't afford a weak USD, not now, not ten years from now. It will kill their exports, and their domestic consumers are not nearly ready to compensate for that loss, and it will also kill massive holdings of US dollars. Look for a concerted intervention among nations of the world to bolster the dollar.
China pegs its yuan to the dollar. They want a weak dollar, which means a weak yuan, which helps them to sell more to Europe etc.
China is putting 17 Billion to work and buying oil producing fields in Africa, Brazil (Petro and her new find), Iraq, the largest oil field owned by BP, Ramalia Field, Argentina....etc. China is hedging her bet for sure. Dollar being weak will help the US Manufacturing Base. The US Gov wants a weak dollar to hault the massive savings rate that is going on and to get people spending. It's a win/win for US and China, with the weaker dollar. The gold and silver run, probably for the same reason. China is also buying up Mines of Coal and looking to dump Billions into Distressed properties using the PPIP rules that the feds put together for distress realestate. China is making her move in the commoditties market. Keep that in mind while you watch gold push through 1000 and oil back above 70. Watch copper and silver. China put out a report that she expects 20% consumer growth in Energy over the next 5 years. Their cards are easy to read. If your playing the right game....Stocks are not it.
Grrr, this looks like a profitable opportunity, stupid recession, I could've gotten a job by now if it weren't for it >_<.
stockcharts.com is down but take a look at DOW indexed to Gold. I haven't checked in a few weeks but it should show the big rally in stocks is a myth Its a dollar push, long term trend for stocks inflation adjusted is down, down,down. stick with the funnymentals The totalitarian communist country has a better grasp on reality, than Free market uncle sam.
and its a huge downward trend my friend. And since the dow probably isnt going to go down, I think 2,000$ gold is not out of the question in the next year.
Yep them's the charts. Thanks! But the sheeple are really loving this rally. Throw in the weak ass volume in the dow, and I feel a big crash inbound.