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How The Chinese Buy Gold?
880 grams at a time...
As China News reports, in a gold shop in Taiyuan, Shanxi Province, a "tyrant female" (Google Translate must have loved that one) bought more than 880 grams of gold jewelry. Lunch boxes were used to weigh the gold and it left other shoppers speechless with admiration.
Reporters on the scene saw the woman buy gold jewelry and diverse, there are a dozen light gold ring, the rest of the gold necklaces, gold pendants and other a lot. The staff at the time of weighing a total of more than 880 grams of gold jewelery boxes accounted for nearly one-third the size of the load box, stacked full of gold so that shoppers around again and again speechless.
Faced with the question, "why buy gold", Ms. "buy gold" did not want to say, but suggsted for her "own use."
Perhaps she read Grant Williams anti-"Anti-Gold-Idiots" discussion this week:
"So these anti-gold idiots are just that, idiots, or else they have the memory of a goldfish, because currencies come and currencies go, as sure as night follows day. It is the natural order of things. And as you can see, it's not about trading gold to get rich or getting long gold or buying one by two call spreads or getting fancy, it literally is about protecting yourself in the end. It's not like Williams got rich. He just stayed rich. Everyone else got poor."
When Western central bankers rubbish gold as a "barbarous relic" or, as in the case of Ben Bernanke shortly before he started his job at The Brookings Institution left office in January, admit to a complete lack of understanding of it, does it not strike you as strange that, having accumulated significant stockpiles of gold over the years, they aren't in a hurry to swap any of it for paper money (well, with the notable exception perhaps of the United Kingdom, thanks to the antics of Gordon Brown, King of the Idiot Chancellors)?
It shouldn't.
Gold is held by Western central banks for exactly the same reason individuals ought to hold it: protection.
Central banks are accumulating gold because it cannot go BANG! like fiat currencies do.
Individuals should be doing the same — not being sidetracked by the distractions.
It's not about price. The story Jared shared with us demonstrates that beyond any doubt.
If you own gold, it will do all the heavy lifting for you when the time comes
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good for her, but if it is for a storage of wealth, why pay more for gold in jewelry form?
Maybe it goes for resale.
enjoying a good conspiracy, as i do, the lack of concern for gold by central bankers almost makes me wonder if something is afoot
such as? you may ask
i saw a bit on discovery the other day
though a slow process, they were making gold in a lab somehow
scalable?
dont know
but it makes me wonder
Very Smart People...
They Will Be Well Rewarded With Their GOLD Metal Money #1...
Faced with the question, "why buy gold", Ms. "buy gold" did not want to say, but suggsted for her "own use."
Prepper?
I seem to recall Kyle Bass buying a shitload of nickels, and telling people "I just like nickels".
"Faced with the question, "why buy gold", Ms. "buy gold" did not want to say, but suggsted for her "own use."
Prepper?"
Commissar's wife, doing her part to protect the people's wealth.
Other competing China headlines:
A bag of rice fell from a shelf
A bicycle was stolen
The media was ON HAND for some woman buying 2 ounces of gold. Hmmm. What a lucky coincidence.
Who fronted her the money for this, and why??? Obviously this was guerrilla marketing, but for who? Probably the jewelry store... but many other possibilities.
Uhm. That was about THIRTY ounces of gold. Not a bad haul.
China has been telling their citizens to buy gold for years. I wouldn't be surprised if it were propoganda.
China is proud of Mao's killing 80 million of its own. I really can't see the Chinese leadership giving a shit about the common Chinese person. There certainly is no safety net nor environmental regs. If the Yuan is backed by gold and becomes central to the world's reserve currency, there is a good chance the Chinese gov will confiscate. But let's hope that doesn't happen. It would be karmically appropriate if the Chinese found themselves wealthy one day, as 100 million fat Americans on the dole find out how vulnerable they are as the USD loses 70% of its purchasing power.
If we should go there, because people here think the US .gov will confiscate their gold, imagine what China will do and how much gold they would get.
OK. OK. We get it. The Chinese worship gold. You retards.
And when your time comes, you won't be needing it.
That blog sucks!
It certainly has no business being shamelessly whored here, but I do read the dude's blog occasionally. I can't help, I keep falling victim to his minefield of links, clicking on them thinking I will be lead somewhere relevant but instead am treated to a log of his daily routine. It's thrilling, actually.
I am Chumbawamba.
DON'T BE LIKE CHINA. CELEBRATE 223 DAY TOMORROW!
The potheads have had April 20th for many years now (420 the police code). Nothing scares the Obamas, the Maos, the Cass Sunsteins, the social engineers, boot-lickers and state worshipers more than to see people go out and vote with their dollars! Buy something firearms related tomorrow, preferably scary tactical looking with a folding stock and high capacity magazine. Or better yet, take someone shooting who has never shot a gun before.
Celebrate your rights loudly and in their faces, or lose them forver.
223 day? First I ever heard of it. Are you a member of CSSA or NFA? Damn, 223 day is here to stay! I think I'm going to the range today....
Closet canuckleheads and their "high cap mags" lol, love it!
There are high capacity magazines in Canada. Being able to arm and protect yourself is a god-given right accross the globe regardless of what any smarmy politician says. Just like it is fonestar's god-given right to be able to send $1 billion dollars to Tehran without anyone knowing about it.
April 20th? Why wait so long; 308 day is just a couple of weeks.
Because 223 day is already established and it's associated with the liberal's darling, the AR-15.
Dude, you obviously have never touched a joint in your life because you have no fucking clue where 420 originates. You're a shameless hack. I will give you my bitpenny if you promise to go away and spend it.
I am Chumbawamba.
420 dipshit. And no, fonestar couldn't care less about the potheads and what they do.
http://en.wikipedia.org/wiki/420_%28cannabis_culture%29
When money enters a gold purchase it is held long term. China has too much currencly in circulation. An ideal solution is to encourage citzens to swap their excess currency for an asset they will hold forever. What they spend on gold is not driving inflation in their country. Gold sales are deflationary.
"China has been telling their citizens to buy gold for years."
It hasn't. This is an urban myth, grown from a single news item on CCTV showing citizens purchasing gold, when the ban on such transactions was lifted.
Personally I wouldn't buy gold jewelry, because of the premium, but any way it goes down, it won't matter if it is coins, bars, or on spindles - gold is a valuable commodity.
Some, like Ferfal, recommend jewelry for resale. Sell your dear departed Mom's necklace an inch at a time, and you are perceived as broke by the buyer. Sell a gold maple, and people start to wonder how many more of 'em you have at home.
Ding ding ding
Smartest thing I've read in a while concerning gold and the common mans attempt to survive through the economic shit storm heading our way. Accumulate as much scrap precious metal as you can. Those earring backings and left over shanks could easily be traded to feed your family in a pinch. It is quite easy to trade ounces of this without drawing too much attention to yourself, start throwing around coins and you might as well announce to everyone to rob your house. This is the primary reason silver bugs believe in silver so much. Well that and the complete destruction of this fiat monetary system we have. :)
Got a little math problem brewin' there, although your point is still made.
This is news?
880 grams isn't even 2 pounds
I'll bet there are a lot of Chinese buying much more than this...
[P.S., that's only about $37K melt value at yesterday's closing price. How many Chinese spent $37K on cars yesterday?]
http://www.nytimes.com/2013/07/20/world/asia/survey-in-china-shows-wide-...
"Average annual income for a family in 2012 was 13,000 renminbi, or about $2,100. When broken down by geography, the survey results showed that the average amount in Shanghai, a huge coastal city, was just over 29,000 renminbi, or $4,700, while the average in Gansu Province, far from the coast in northwest China, was 11,400 renminbi, or just under $2,000. Average family income in urban areas was about $2,600, while it was $1,600 in rural areas."
soo....probably not most, unless they dumped 10 years of total income.
but of course, all pigs are created equal. just some are more equal.
Averages lie. There are about 100 million Chinese that have stolen huge amounts of money. Yes, there are 1.29 billion that have nothing but 100 million is a lot of people to buy gold
Assuming that all the jewelry bought was 14K, the purchase was about 16.5 troy oz of pure gold or about $22K worth. Not really news worthy. The better ZH Chinese gold purchase story was a few months ago when 10,000 people were waiting in line in the rain to buy gold for some Chinese holiday. In the US, the only way to get 10,000 people to line up for something is to offer Section 8 Housing applications.
Yea, Chinese don't really buy K-gold. It's all pure stuff that's in demand.
or, ammo
Averages lie because they ignore the fact that the rural areas drag it all down. For the major cities, you're looking at median household around $15k or so.... which is dragged down by the migrant workers as well as being dragged down even further by the low-end jobs that provide room+board, as well as the many jobs which have low monthly but high cash (unreported) bonuses. In reality, on average, a city-dweller is looking at something in the 20~30 range. Of which, over half goes into savings. Having $100k+ in cash is really not all that rare either, and a family with housing sorted can easily live off of the interest with all earnings going into savings. Farmer income is also rather underreported, as it tends to be a cash business and farm-income is tax free, but look around at the homes they are building and you'll know they generally tend to not be all that poor.
Again, there is 100 trillion rmb of CASH sitting in the major banks accounts, not invested, just sitting there untouched. If even a portion of that was used by the masses to buy gold, it would require mass imports on a scale never seen before in human history, and the forex reserves would be drained to cover it. In the end, that gold is imported by the major banks, who would then kick the fiat back to the PBOC for forex used to import. The PBOC can just as easily re-issue it to keep away deflation, which keeps costs here down in terms of forex, and the sucking continues. USD has to go somewhere, and the only logical place is back to the US, which is then faced with inflation, so the government issues bonds, which are bought to lock away the liquidity... which raises the national debt, which causes more problems.
You can buy gold on credit Einstien.
Alchemy is alive and well then.
apparently so
http://news.cnet.com/8301-17938_105-57526387-1/bling-researchers-create-24k-gold-in-the-lab/
but its old news
But Lab Director Stew Pidasso said Tuesday night the lab's scientists have produced economic quantities of the precious metal in a different way.
"The alchemists and the early nuclear scientists failed to realize that there's more than one way to skin a proton," Pidasso said. "Instead of trying to knock protons out of lead, protons can be borrowed from metals with lower atomic numbers and added to make gold."
Pidasso said the lab, a division of the U.S. Department of Energy, first achieved the transformation by borrowing protons from copper and nickel and adding them to bars of iron. But when copper and nickel supplies ran out, the lab began using protons from calcium, which is abundant in seashells along the nearby California coastline.
According to Pidasso, using proton borrowing and high-quality varnishes, the lab will be able to manufacture about 1,500 metric tonnes of gold per year, which, he predicted, might indefinitely fill what is estimated to be the gap between annual world gold demand and mine and scrap supply.
Pidasso said the laboratory's gold research long has been funded by grants from JPMorganChase & Co. and Goldman Sachs Group Inc. but that recently "enormous" help had been provided by Bear Stearns Cos.
edit:this is from 2007
https://www.youtube.com/watch?v=cEf7rvl8RiQ
Transmuting Paper into gold
http://www.youtube.com/watch?v=RMYy65CO7vk
Transmuting Plastic into Gold
http://www.youtube.com/watch?v=eRa0Mnd93wE
Transmuting gold into paper
www.lbma.org.uk
Transmuting paper gold into nothing
WWW. GLDETF.com
the gold-from-seashells article is fantastic
hugs,
ben dover, author and seashell collector
Ben Dover from the San Francisco Comical. People will believe anything written on the internets.
...and he powers the entire apparatus with a SINGLE 9V BATTERY! </sarc>
Is the battery included?
No, it's never included; is this your first day?
Sometimes it is included but its covered in chinese writing and lasts about a day before leaking into the circuitry and ruining the gizmo ;0)
Can you imagine the temperature and energy requirements that would be required to pull this of in anything beyond micro-gram scale? It is inconcievable. The nuclear waste would be monsterous in volume. It would require a very coherent particle-eqivalent to Light Amplifiacation by Stimulated Emission of Radiation (LASER) (PASER?) in the form of protons or neutrons, and as far as I know, such a trick is currently impossible and may always be. In any case, the power requirement and waste generated would require its own planet.
You're looking at this in a complicated way.Some of the other citations are pure fantasy in a scientific regard.
Just think thermodynmics. Often cited, poorly understood. There is a reason gold is so stable.
Truth is, I do my gold transmutation the old fashioned way - I let a super nova do the heavy lifting.
Very good.
FANTASTIC STORY... the gold made of seashell in lab funded by JPM and Giant Squid :-)
Then please consider this fact:
WHY GOLD IS SO RARE
"UNLIKE diamonds or gem stones, which are produced under the Earth by extreme pressures and heat, GOLD is a NON-TERRESTRIAL metal, meaning that all the gold that exists today, above and below ground, is all there ever will be. Gold is not produced by the geology of the Earth; in fact, Gold doesn’t even originate from this solar system. All the gold that exists on Earth today arrived many billions of years ago during the early period of Earth’s formation. Gold is a heavy element with an atomic number of 79. As with other elements heavier than iron, gold was created in the far reaches of space in some of the most violent events in the universe – supernovas."
More at here: http://bit.ly/S6Ieb3
There are indeed some factual reasons why gold is famously nicked as the BARBAROUS RELIC :-)> LOL
if that was the case, Germany wouldn't be having any problems getting their gold back, audits would be welcomed, etc....if some entity could "make gold", I doubt Discovery Channel would be breaking the news. It's something to consider, but I can't think of ANYTHING that has ZERO risk.
"... I can't think of ANYTHING that has ZERO risk."
I think that's it right there. It's all RELATIVE risk. You just say, ok, given all of my current options, and my understanding of the world around me... which option seems most likely to preserve my wealth?
That's all any of us can do.
Uh, no. They might be looking at extracting it from different places not considered before. For instance, did you know peat moss preferentially complexes gold salts, salts which are found in the ocean?
It is not a metaphor to state that gold is formed in stars when they go supernova. To "make" gold would be a highly energetic nuclear process.
Besides the capability of building nano and smaller machines, I have seen recently articles saying they can image the nucleus of an atom and layers of proteins clearly, so I wonder if they are at the point where they can just shoot gamma rays at a mercury nucleus to transmute it to stable gold. If so then all that is left is the inefficiencies of the process to keep it from being too cheap, but there are advances there too.
The best defense is to stock up on things you need. Hope people don't flock to NSA cryptocurrencies. I'd rather see lots and lots of local currencies.
yes, that's possible, but extremely expensive:
http://en.wikipedia.org/wiki/Synthesis_of_precious_metals#Gold
Dated material by GATA. Anyone have something more recent?
It's a fake story. You can't make gold.
No, no. It's "You can't eat gold!".
Sure you can... Just be sure to collect it all, the following day!
See my prev post.
http://www.sciencedaily.com/releases/2014/01/140113104839.htm?utm_source...
http://physicsworld.com/cws/article/news/2013/jul/29/how-to-make-zeptose...
http://www.sciencedaily.com/releases/2014/02/140214130913.htm?utm_source...
http://www.sciencedaily.com/releases/2014/01/140130141301.htm?utm_source...
http://www.sciencedaily.com/releases/2014/01/140123102723.htm?utm_source...
.
Maybe it goes for resale.
Go girl!
Think I'm in love.
She is cute and smart. If you two are both single, get her number!
I don't know for 800 grams, but in China this is the most common way of investing in gold.
It's actually 24K pure gold and as "liquid" as cash.
there's a daily adjusted price per grams information displayed in the shop that follows gold spot.
last time I got something in a Chinese gold shop, they gave me little silver earrings as a gift; i really wonder what this lady got!
I got raffle tickets....which were not winners....oh...and I got my gold....
Just buying Pandas though, not jewelry.
I wonder what the big deal is since we hear the Chinese prefer i kilo bars. I suppose it was the fact that she was buying in jewelry form from a shop that usually sold in gram quantities...or maybe the real story here is that she was a TYRANT!
In jewelry form it has purpose beyond being a paperweight. It's also a lot easy to get through customs with jewelry than it is bullion. Worst case, gold prices somehow collapse, eh, at least you have a necklace out of it, whereas a bar is going to have to be traded in to get any jewelry and you'll take a hit on it.
Women buy gold as jewellry, first and foremost, and store of value second.
Men buy gold as store of value, first and foremost, and jewellry (for a significant other) in second.
Have you heard of pendant gold bars?
https://www.google.ca/search?q=pendant+gold+bar%5C&espv=210&es_sm=93&tbm=isch&tbo=u&source=univ&sa=X&ei=A-MIU7ShJ-aayQHKuoB4&ved=0CEsQsAQ&biw=1351&bih=816
We all could learn something from Mr. T. I pity the fool that aint got no gold!
maybe it is just easier to get out of the country that way
rings on your finger, necklace and bracelets,
or a bar in your pocket
as gramma used to say, 'you need at least enuf gold to bribe the guards'
circa ww2, more than just jews were rounded up
Maybe its time to hide gold any way possible....
Gold balls, a gold dildo or Buddha. Gold fillings and gold plated trimmed everything in da crib!. Gold butt plug anyone?
Gold Bitches...
Don't think those that say it don't mean it.
You can always melt it down and assay it.
It's gold bitches!!
Hip and knee joint replacements
Cahing in on that one or trying to use it for barter would end up a bit messy though.
because you can enjoy wearing it whilst it preserves and increases your wealth. Plus, gold worn on the skin is suppose to help with cell conductivity as its a brilliant conductor. Throughout history gold has been seen as integral part of power and in the East this still holds strong. Wow, she made the news whereas I purchased maybe 10x her amount recently (kg bar form) and no mention. hehehe. I purchased online and collect in a private room. No better way to buy than in stealth.
you just bought a half million in gold?
its good to be the king
Recently, 250 a gram was a realistic price. Assume 10kg. 10,000*250=2,500,000 RMB. You can't even get a decent apartment in Beijing for that. So yea, that's fairly trivial to be honest.
Last time I saw news about a major purchase was caibai with a guy walking out with a 50kg brick of it. Funny, a meager 880g of gold is all it takes to make the news in the west.
880g = 28toz approx, so it's not exactly a trivial amount. Close to $40k.
Sorry, that's trivial.
its good to be you
wish i considered 40k trivial
i dont even consider 70 bucks to fill up the car trivial
It's trivial when it comes to gold. You buy gold for multiple reasons:
Locking your savings into something physical and mobile
Security if things go to shit
Profit.
If things go to shit, anything pure is more valuable than K gold. .9999 gold is nice and soft and be clipped for fractional transactions. A 1oz coin... hope your guy has change. A large bar? pain in the ass to be honest. Jewelry's great cus it has links which can be snipped. It can be pounded flat quickly and sliced up.
So, say you buy it for locking up, you buy it for security too, and welp, looks like you're ready to retire and the world has not gone to shit. World still running on fiat? Obviously, there's profit now. A jump from 250 a gram to 500? Hell yes, sell. Sell and rebuy when it falls back down and you have more than you started with. So, say you buy a whopping 200 grams, that's 50k RMB. Ready to sell? That's 100k RMB. What can only be considered an epic movement, and you made a whopping 50k. Enjoy your shitty new deathmobile, cus that's all that can buy... or maybe a vacation or two. Pump up that investment to a quarter mil USD, congrats, you also doubled your money to half a mil. You can take that profit and turn it into something else. You play physical because you'd rather have the security of holding onto something real rather than playing with paper and leverage with something that does not really exist. If you are buying for anything apart from profit, including profit+something else, you take physical. If you are just playing for profit, you play with paper. It's fine to have a mix of both, with the understanding that paper can go to zero and with leverage you can get fucked in a hurry on manipulation. Furthermore, mass buying for security prompts more buying. Look to Spain for reference following the rape of the new world. Massive inflation, everything cost a fortune in gold because everyone had it in spades. Meaning, if you have your few little ounces, congrats, you're still fucked. On a weird note, when there is a wide disparity caused by a small percentage having it while most simply do not, it results in extreme scarcity, deflation, etc. VERY easy for chaos to reign, in which case, guns are far more valuable than any gold and life is cheap beyond measure. When my son was born, family members and close family friends didn't give money, they gave gold, about 1kg of it in total. Even the most backwoods farmer relatives who have zero clue about pretty much anything, gave gold.... And his grandparents bitched that it was so little and should be more. Everyone in this country understands it and buys it, none of it the K-gold shit, all of it pure.
Come on you pikers who down arrowed laomei - - -He's telling you that people in China are buying gold in BIG QUANTITIES and youre on the same side of the long term trade.
I hope folks in China, India, and everywhere else keep buying lots of physical metal.
At this point it seems that Americans won't try to get in the market in volume till the need is even obvious to the clueless.
It's all relative. As my son replied to me this week: "Yeah exactly, realative to what I have, that's a lot."
I think the cloak just failed. ;-)
On the bright side, you've admitted to your problem and that's a first step.
If today was 1932 or early 1933 that lady would have been making a very smart move by choosing jewelry over bullion.
Here's a quote that sums it up pretty well:
"why pay more for gold in jewelry form?"
The margins above spot in these Asian exchanges are very low. and there are reasons to buy jewelery.
reason #1: Jewelery will be easier to exit any country when it's wrapped around your neck or wrist, than gold coins stuffed in your luggage.
reason #2: Some can actually insure jewelery while insuring coins is more difficult.
reason #3: It's a legitimate way to draw ladies into hoarding something legitimate. It's a heck of a lot better than a closet full of expensive purses and shoes.
Pretty much this exactly. When me and the wife got married whe originally wanted a diamond. Then I politely informed her of the REASON why rings came about for marriage. Originally it was for the woman only, and originally it was basically a pile of gold to ensure security in case anything happened. Rings symbolize this, and then men ended up having them too thanks to marketing. The whole diamond thing, of course being utter bollocks invented by de Beers and diamonds generally not being worth anything. Don't get me wrong, there are exceptions to diamond value, but those are LARGE diamonds which generally don't end up in regular jewelry. Swap in a ring at a pawn shop, and the diamond magically becomes worthless, they just look at the gold.
I explained that this is our security. It's a piece of hard money that can be used in times of great need wrapped around your finger. So yes, get the .9999 fine stuff obviously. And because I wasn't a cheapskate we did it this way: I got my ring, she got her ring, both being basic and solid gold. Then I had her find a diamond ring she liked, I took that price, doubled it and applied to it more .9999 fine gold jewelry. At the time, that worked out to about 100grams of goodies. On the 1 year anniversary, I got her a ring made with an old diamond passed down in the family... it's not worth anything apart from sentiment, but then again, that's worth more. Jewelry, we have about 400g of the stuff laying around. All of it tasteful. Just remember, gold is dense, 400g sounds like a lot, but it's really not. Most in the west would just assume it's low-quality K-gold,
Some people prefer it greenskeeper cause it is easier to transport across borders without raising any suspicion
That is a common question by Westerners when they visit jewellery stores in places like Dubai.
The jewellery is priced by its gold content (8 carat and so on is not considered "gold"). There is very little markup for the workmanship.
The Swiss put .999 gold into a machine which produces the most intricate chains imaginable - like very thick spagetti - at the other end. Try doing that by hand!
It's the same price as bullion in China.
"good for her, but if it is for a storage of wealth, why pay more for gold in jewelry form?"
Some people carry big wads of 'walking around money'
this lady has a wad of 'walking around gold'
You are thinking likeaWesterner where gold jewelry is often 9 or 14 carat, has heavy sales taxes added and the store has high wages and rents requiring 100% markups. Buying 18ct and higher gold jewelry at a modest mark up to bullion value has many benefits in most of the world.
Bullion is boring for most women. In times of trouble and the need to flee a country the boarder guards know cash and bullion are wealth and subject to regulations. For most countries there is far less restrictions on wearing your jewellry through the airport. My wife left Egypt wearing over 15 bangles, 5 heavy necklaces and about 10 rings (all 18 to 22 carat) without problems, but I had to have exchange reciepts and other paperwork for my currency notes. Had we any ingots they would have also raised ared flag.
She gets to display her wealth/status. Unlike a fancy new dress or hairdo it doesn't lose all value within months and might gain value.
The premium for making jewelry is very cheap. 15 dollars added to a 1.5 oz necklace. (And it's superbly made)
The only drawback is that it's not 99.99. It's 96.5%.
Regards.
I test Chinese gold very frequently and it is rarely below 99.5 %. I believe you are refering to Thai gold jewellery which is typically 23K
Most Chinese gold (in private hands) is held in the form of 24K jewellery. Bars seem to get the attention in the shops but most folks leave with jewellery type items. The markup on it is higher than bars or coins but much lower than the premiums over gold value paid in Western countries.
That jewellry is rarely worn as it is considered more a savings vehicle than adornment by those who hold it.
You mean someone should unload their "precious" Federal Reserve notes, that the criminals can print in UNLIMITED quantities, for something as barbaric as gold ? Absurd.
You think the Chinese aren't printing infinte amounts of cash which is funneled into the world through their network of operatives who are all related in some form to government officials back in China?
They're all cooking with water! Don't give the Chinese anymore credibility than the rest. If anything, I wouldn't trust them even to buy the Fed paper because it allows them leverage over us. What are they buying it with? Mao paper so deeply trenched in shadow banking from unqualified origins. The Chinese are Mao's sons and daughters and they want to over take the West no matter how long it takes.
If they have a central bank, and last I checked, Japan, China and Russia do, then they are owned. All of them are part of the grand conspiracy.
"The Chinese are Mao's sons and daughters and they want to over take the West no matter how long it takes."
And we are letting them. If they don't buy our paper who will? The rest of the world is too broke to help. Nor do they want to. When the FED is finally owner of all US debt, game over. Might as well save your 20's for toilet paper.
Buying again this weekend... almost up to where I consider my gold amd silver weight "acceptable"
When you can measure it in stones not pounds, its probably about right.
The entire "barbarous relic" meme is wearing a bit thin much to the aggitation of central bankers. I think most people are onto the discrepancy between what they say and what they do.
When the Banksters are talking gold down while they hold more than they have ever held before, you know it's time to buy.
This lady in China understands what most don't. In Gold We Trust. Does it cost The Fed anymore to print a $1000 bill than it costs them to print a $1 bill? They can't print gold. But they can print paper gold. Why save paper in a bank that gives you zero interest and can default or not allow you to withdraw your paper when you need it? Convert the paper into PM and hold on.
The highest denomination bill in America is $100,000. I believe that they have one in the Smithsonian.
A common mistake is people believe that they are printing huge amounts of notes. Note printing only accounts for pennies in the dollar of the money that is being created. Most is just created electronically with a few keystrokes. It would take them about 500 years to print enough notes to cover all the electronically created money.
Best to hold gold/silver, then nickels, then other coins, then low denomination notes (cash on hand) and then electronic notes (what your bank statement says you have).
880 grams equals about 28 oz, bully for her!
$37K. Not bad.
STOP THE PRESSES!!!......a random Chinese woman may have bought some gold.
Lunchpail jewelry boxes.
Great way to travel your gold
I travel my Gold in accident prone boats.
Occident prawn boats you say?
China, FUCK YEAH!!
She used chump change for a country printing 4x as much as the Fed.
"She used chump change for a country printing 4x as much as the Fed."
I guess if the amount of printing is true then they just derive the number of times to print from the population ratio, China roughly has population 4X the USA.
See http://www.geohive.com/earth/population_now.aspx
No wonder PBoC opts to have the printing 4X the Fed... lol
Title: Answers To Correspondents
Author: Mark Twain [More Titles by Twain]
[Written about 1865.]
"ARITHMETICUS." Virginia, Nevada.--"If it would take a cannon-ball 3 and 1/3 seconds to travel four miles, and 3 and 3/8 seconds to travel the next four, and 3 and 5/8 to travel the next four, and if its rate of progress continued to diminish in the same ratio, how long would it take it to go fifteen hundred million miles?"
I don't know.
"AMBITIOUS LEARNER," Oakland.--Yes; you are right America was not discovered by Alexander Selkirk.
"PROFESSIONAL BEGGAR."--NO; you are not obliged to take greenbacks at par.
"ARITHMETICUS." Virginia, Nevada.--"I am an enthusiastic student of mathematics, and it is so vexatious to me to find my progress constantly impeded by these mysterious arithmetical technicalities. Now do tell me what the difference is between geometry and conchology?"
Here you come again with your arithmetical conundrums, when I am suffering death with a cold in the head. If you could have seen the expression of scorn that darkened my countenance a moment ago, and was instantly split from the center in every direction like a fractured looking-glass by my last sneeze, you never would have written that disgraceful question. Conchology is a science which has nothing to do with mathematics; it relates only to shells. At the same time, however, a man who opens oysters for a hotel, or shells a fortified town, or sucks eggs, is not, strictly speaking, a conchologist-a fine stroke of sarcasm that, but it will be lost on such an unintellectual clam as you. Now compare conchology and geometry together, and you will see what the difference is, and your question will be answered. But don't torture me with any more arithmetical horrors until you know I am rid of my cold. I feel the bitterest animosity toward you at this moment-bothering me in this way, when I can do nothing but sneeze and rage and snort pocket- handkerchiefs to atoms. If I had you in range of my nose now I would blow your brains out.
-THE END-
Rick Rule On Gold And Silver Markets, Miners And Silver Short Positions
Rick Rule gave a very interesting interview on Gold and Silver markets and, particularly, on Gold and Silver mining stocks. Learn from the pro about the investment landscape unfolding this year. Rick Rule was right on the money with his call on the bottom in junior miners last summer. Now he is talking about the Silver short positions being literally uncoverable with the inflow of 2 billion dollars.http://sufiy.blogspot.co.uk/2014/02/rick-rule-on-gold-and-silver-markets...
She's obviously working undercover for the Chinese Govt.
;-)
"Cherchez la femme"... and do what she does, if you can afford to do it! I mean 880 grammes in one fell swoop... WOW!
Wow, my stacking looks rather pathetic now..
Must. Stack. More!!!!! (and learn Mandarin too)
Stack Envy?
I buy gold because I can't afford a $100 million Van Gogh like the big boys.
You can't buy a loaf of bread with a $100 million Van Gogh.
But you can burn it to cook with.
But ... but ... foneystar said to buy buttcoins! Don't the Chinese know how to store wealth in buttcoins? Buttcoins, it be what people crave!
Brawndo is betterer...I like money.
"
How The Chinese Buy Gold?"
WITH A SHOVEL!
Why is household debt in the western world so high?
Because we can.
And the rest of the world has to suck it up and buy our debt if they want the privilege of sending us the product of their labor.
Aaahh. To be an American!
Eventually when we move large asteroids to lunar orbit and mine them, then streets will indeed be paved in gold. We won't even know what to do with all the nickel and iron
The Chinese can keep their Yellow gold. Kirk prefers White gold: (p)latinum. It's more precious and useful.
But then I also prefer Dilthium Crystals, and vacations in the Virgo cluster. ;-),
Absolutely nothing wrong with diversification into platinum! Value-dense diversification and all...
And Palladium -- and if you're Bass nickel.
And not paper gold either.
there will be no gold standard ! or gold reset
Silver standard - gold is for asia silver for americas ! bitcoin for the world
.
The funny thing is that some people are concerned that they might be able to make gold in a lab. This makes me laugh . I am rather more concerned about the vast quantities of fiat produced in the FED's lab.
never said i was concerned
have you ever seen the old twilight zone episode where the guys steal the gold, but pop into the future where gold no longer has value, because they can just make it?
and how far ahead technology wise is the military industrial complex?
and jp morgan, goldman sachs are involved in funding the study?
hmmmmmm, makes you wonder
which is all i said
I get your point but you need to understand that before they get to the point of producing gold in a lab at a viably commercial cost, the system is going to blow up.
Of more concern is that they are replacing human workers with robots at an alarming pace, in Japan they have replaced partners with rubber dolls, and in the whole world value and values are bing replaced by price tags and debt.
It is going to be an extremely long time before anyone can just "make" gold. There are no good nuclear reactions to get to 19779Au from anything else without messy radioactive byproducts or intermediates, some kind of time-loop matter duplicator would be the only efficient way - and that would probably require input of mc2 worth of energy. Even if you could get away with input of an equivalent exchange mass instead of raw energy, you would still need time travel tech to make a matter duplicator.
Personally, I think the development of more efficient ways of finding deep gold deposits and getting to them is much more likely.There has to be huge gold deposits deep within the earth's crust. If there was a good way of finding them, say by neutrino oscillation tomography, then one could drill for the gold, and pump down oxygenated cyanide solutions to dissolve out the gold. One could even do hydraulic fracking to get to the gold.
What about testing sea water for gold concentrations and thereby locating vents at the bottom of the ocean that are spewing gold? That was from my soon-to-be materials scientist son who I had read your post.
Even if a method is found, it would be very expensive I'm sure and require a lot of resources/energy to make. Initially atleast... it will still retain value.
i left info up before
there are actually a half dozen methods
How long be fore they nationilise APPLE and all.
there is your COLLATERAL
One day it ends
have enough.
SMH. You've got to be outside of China to think this sort of shit is amusing. The ostentatious display of raw naked cash is becoming increasingly vulgar, almost fucking pornographic. I'd say most Hongkies are in agreement with me on this one... but quite frankly... we've just about had enough of the goddamned mainlanders and their suitcases full of cash, most of it very likely illegal. So the fact that among other things, yeah, these criminal motherfuckers also buy gold... so fucking what. They also buy the most outrageously fucktarded shit making it plain to see the they're burning through ill-gotten gains as fast as they can.
Every day you guys keep posting about the Chinese bubble popping.... and one day... it's going to come true. Man... I for one can't WAIT.
Is this even news???
I was at a bullion store a couple of years back and saw this older gentleman trade $85K in cash (apparently kept in a freezer by the way it was wrapped) for GAEs.
So....is this news?