• Gold Money
    05/26/2016 - 14:27
    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

Gold Retraces All Losses After Official Says "China Should Take Every Chance To Buy Gold, Especially When Gold Prices Fall"

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Wed, 03/09/2011 - 08:30 | 1032426 hugovanderbubble
hugovanderbubble's picture

Gold +Silver + Palladium + Platinium = New World Commodities Basket Currency Linked System


Crude oil - Venezuela New Currency Linked


+Rare Earth Metals 5%


Physical is the key To collateralize money and of course the infinite debt .....but remember physical is not infinite as Bernanke Printer....¡¡¡¡


Wed, 03/09/2011 - 09:02 | 1032494 Zero Debt
Zero Debt's picture

Just add just 5% sugar and 5% chocolate and it's perfect!

Wed, 03/09/2011 - 10:17 | 1032696 fasTTcar
fasTTcar's picture

You forgot rice, corn and wheat.

Wed, 03/09/2011 - 08:31 | 1032430 smeagol
smeagol's picture
China Buys 47% of the World's Gold

 In fact China is already set to buy almost half of all the gold that'll be mined this year.

You read that right: The Chinese may buy nearly 50% of total world gold production in 2011.



Wed, 03/09/2011 - 09:45 | 1032601 zaphod
zaphod's picture

Gold production means nothing compared to past production


China could do this for 50 years and still not have as much as the French, let alone Fort Knox (I know I know tungsten bars, I still have to believe they've got a decent amount stored, say what you will but we're not as dumb as the bank of england....)

Wed, 03/09/2011 - 10:14 | 1032681 doggings
doggings's picture

one day we'll see I suppose.

Wed, 03/09/2011 - 12:02 | 1033111 EscapeKey
EscapeKey's picture

Huh, come again?

The US sits on about 8,100 tons of Gold. If the Chinese buy 50% of the annual 2,500 ton production, that would mean they would catch up from scratch in less than 7 years.

The French sit on 2,400 tons. That would be surpassed in less than 2 years.




Wed, 03/09/2011 - 08:31 | 1032431 Oh regional Indian
Oh regional Indian's picture

Think this may impact many things.


Please see: The Axis of Evil Doing



It is the fulcrum.




Wed, 03/09/2011 - 08:41 | 1032449 hugovanderbubble
hugovanderbubble's picture

Why the star is in the middle of Algerie?


Wed, 03/09/2011 - 08:53 | 1032473 Oh regional Indian
Oh regional Indian's picture

Look at the start points (Zimbabwe-Black, Iceland-White) and then all the others, Ireland, Tunisia (flash point)...
It's all there, on that axis.
HydroC goes Super Nova there.


Wed, 03/09/2011 - 08:41 | 1032453 cossack55
cossack55's picture

Interesting, but to tell the truth, the Stunning Art link was really wild.  I've saved the site, tho. Thanks ORI

Wed, 03/09/2011 - 08:48 | 1032467 Oh regional Indian
Oh regional Indian's picture

:-) All good Cossack. I feel the Axis tells the story. Interesting is great for a start.

And that art, mind-blowing, eh?


Wed, 03/09/2011 - 15:57 | 1033862 DollarMenu
DollarMenu's picture

There is much on your site that is 'mind-blowing'.

Thank you!

Wed, 03/09/2011 - 10:28 | 1032742 Pegasus Muse
Pegasus Muse's picture

Hmmm.  Curious thing.  

Roswell, NM:  33.4 Lat, -104.5 Long


Thu, 03/10/2011 - 02:30 | 1035778 IQ 145
IQ 145's picture

 you got that right. It's impacting the shit out of a lot of things right now. More to come. Stay tuned.

Wed, 03/09/2011 - 08:34 | 1032435 El Hosel
Wed, 03/09/2011 - 08:36 | 1032442 cossack55
cossack55's picture

Gold is in a correction.  It is headed towards its real value ($8,000/oz imho), and I don't think we are talking paper gold.

Wed, 03/09/2011 - 08:54 | 1032476 Onlygold1
Onlygold1's picture

sorry, but you are fractionally low-g-


still waiting for the jawboning to stop and the chinese to really start buying right now they like the looow prices-

Wed, 03/09/2011 - 08:44 | 1032458 Twindrives
Twindrives's picture

Meanwhile in America.......Bernanke's pitchman Obama tells citizens to spend, spend, spend.  


Now that's leadership!     <sarcasm>

Wed, 03/09/2011 - 08:46 | 1032460 SumDumGuy
SumDumGuy's picture

What is BTFD in Chinese?

Wed, 03/09/2011 - 08:56 | 1032480 Flakmeister
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Wed, 03/09/2011 - 08:58 | 1032490 Flakmeister
Flakmeister's picture

Damn... the Hedge does not support Mandarin...

Mai gaisi jiang

Its the best I can come up with

Wed, 03/09/2011 - 09:22 | 1032549 Mark McGoldrick
Mark McGoldrick's picture


Thu, 03/10/2011 - 02:31 | 1035781 IQ 145
IQ 145's picture

 It's what they've been doing for the past six months; pay attention.

Wed, 03/09/2011 - 08:45 | 1032463 ciscokid
ciscokid's picture

Gold is the ultimate money.

Wed, 03/09/2011 - 08:54 | 1032479 Henry Chinaski
Henry Chinaski's picture

Trust the Chinese officials on this one, but everything else they say is lies and/or propaganda.  Just sayin.

Wed, 03/09/2011 - 09:09 | 1032515 tmosley
tmosley's picture

Truth is they are already buying a lot, and have bought a lot more than they have said.

Wed, 03/09/2011 - 08:56 | 1032484 YHC-FTSE
YHC-FTSE's picture

Meh. Good advice and all that, but most of the articles these days seem almost identical. Wouldn't mind seeing some contrarian stuff.

Wed, 03/09/2011 - 10:35 | 1032766 Dr. Richard Head
Dr. Richard Head's picture

Contrarian stuff?  Are you fucking kiding me?  Just turn on the TV here in Amerika.  CNBC, FOX, CNN, and any of the ABC, CBS, NBC nighttime news feeds.  The media is littered with all things contrarian to ZH.  I don't think any more of that sort of news is needed here. 

Wed, 03/09/2011 - 13:19 | 1033365 Bay of Pigs
Bay of Pigs's picture


Wed, 03/09/2011 - 14:17 | 1033541 Flakmeister
Flakmeister's picture

  The most even handed site for economic news in CalculatedRisk.. He presents all the data. He doesn't spin it. He is very calm and reasonable. I think his experience leads him to cautious optimism. CR was the best site for the housing meltdown, bar none.

Thu, 03/10/2011 - 02:36 | 1035787 IQ 145
IQ 145's picture

 Oh, okay. here you go. Paper money is wonderful. No matter how much of it you print it always gete and more valuable. Gold is a barbarous relic; gold will crash soon; your paper moneys will be worth much, much. How's that; feeling better now.?  Contrarian stuff; what the fuck is wrong with your brain; reality is determined by study of facts and history; not by voting on it. God and I make a majority.

Thu, 03/10/2011 - 08:32 | 1036080 YHC-FTSE
YHC-FTSE's picture

Shit, if I had known I'd get pissed on for wanting a little variety I would have brought an umbrella. Most of the nuts think I advocate toilet paper instead of PM/IMs, but use a little imagination. There's oil, food, battery tech, green tech... the list is as long as ingenuity. Never mind.

Wed, 03/09/2011 - 09:08 | 1032503 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Hmmmm... which team to be on; Team USA (+rest of western world), or Team China?

Hmmmm, decisions, decisions.

Well, seeing as the USA has become as despotic, non-productive, banana replubic, non-job service driven, propoganda hell hole ran by genocidal manics while the citizens sit idle day in day out and do nothing to stop the enemy within... well, i think my mind has been made up for me.

Wed, 03/09/2011 - 10:30 | 1032751 Dr. Gonzo
Dr. Gonzo's picture

Jim Rogers made that bet 7 years ago.

Wed, 03/09/2011 - 09:08 | 1032510 zaknick
zaknick's picture

Where is Spalding Smailes and Team America to tell us how those 8100 tons of gold are real. Really.

Wed, 03/09/2011 - 09:10 | 1032514 High Plains Drifter
High Plains Drifter's picture

He had to get up early this morning and go make a delivery of hubris..........

Wed, 03/09/2011 - 09:08 | 1032512 High Plains Drifter
High Plains Drifter's picture

Its the Chinese put.  Put that in your crack pipe and smoke it Blythe


Wed, 03/09/2011 - 09:17 | 1032530 MiningJunkie
MiningJunkie's picture

Barbarous relic !

Wed, 03/09/2011 - 09:16 | 1032532 Billy Shears
Billy Shears's picture

??????(GOLD, BITCHES!)

Wed, 03/09/2011 - 09:19 | 1032539 SuperRay
SuperRay's picture

what the hell is going on here? I thought the chinese were inscrutably subtle and thinking for the long term.  Why would an official actually come right out and publicly announce that they want to buy the dips?  What purpose does it serve them? Wouldn't they want Gold to correct so they could quietly buy up as much as possible, as cheaply as possible? There's a subtext here, but I can't read it..

Thu, 03/10/2011 - 02:39 | 1035792 IQ 145
IQ 145's picture

 It's geopolitical chess. it;'s brilliant. they attack the dollar while remaining blame free. Oh, didn't you want us to encourage our people to be free? I thought you like freedom? The central government is blameless; the people will take care of it; are taking care of it ! Brace up, there's another 50-60 million chinese who haven't bought any yet. Cleverist move I've seen in international politics in forty years. absolutely brilliant.

Wed, 03/09/2011 - 09:20 | 1032542 SuperRay
SuperRay's picture

...and why aren't they interested in silver?

Wed, 03/09/2011 - 09:41 | 1032595 Twindrives
Twindrives's picture

The Chinese know JPM have no more silver, and neither does anyone else, so they figure there is no point bringing it up.


Got silver?   

Wed, 03/09/2011 - 10:08 | 1032655 gwar5
gwar5's picture

They are. They encouraged the people to acquire gold and silver.

They are redeeming silver bullion from SLV redemptions stealthily.

Wed, 03/09/2011 - 10:44 | 1032810 Pegasus Muse
Pegasus Muse's picture

China says Buy Silver:


"China is also encouraging its citizens to buy silver as an investment for the first time in 60 years. Take a look at the State TV unveiling silver as an investment like Ford would show off a new F150. If a billion people by a little of anything, huge swings tend to happen in markets."


Thu, 03/10/2011 - 02:41 | 1035793 IQ 145
IQ 145's picture

The Chinese national currency unit was a silver casting for many, many years; everyone knows this; they are buying the shit out of silver; wake up, please.

Wed, 03/09/2011 - 09:53 | 1032618 Math Man
Math Man's picture

Just like China waited for Oil to break before stocking their strategic petroleum reserve, they will wait for Gold to break before buying more Gold. 


Thu, 03/10/2011 - 08:39 | 1036091 RogueFit
RogueFit's picture

Hey Math Man, any way we can exchange email addresses?

Wed, 03/09/2011 - 09:56 | 1032623 I Am The Unknow...
I Am The Unknown Comic's picture

you trolls out there need to get busy and tell the Chinese they can't eat gold.  Obviously there must be a misunderstanding because no sane person buys gold for financial reasons, right assholes?

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