An unnamed consultant to the Chinese government has stated that China is considering a slow increase for their countries gold reserves.
Just as they are acting with all global affairs, the Chinese will be taking a slow and methodical route to increase their gold holdings due to certain retraints not allowing them to buy all the gold they want at one time.
For most of the public, comments will go through one ear and out the other. These comments are the ones between the lines that need to be interpreted for the true meaning behind them.
The World Gold Council’s general manager for China made some statements recently that caused me to put a higher powered magnifying glass on China. Ronald Wang holds the position mentioned above, and had this to say from Beijing last week. “They have access to information and they must have a plan with regard to gold.”
What information exactly do they have access to? , and what, do tell, could they be planning Mr. Wang? We would love to have him elaborate a little more on this if he ever feels so inclined.
Keep an eye out here, you never know what we might come up with at PreciousMetalNews.com.
We were under the impression that China has a lot of gold, and it may be true if what our last article about Russia has any merit as to how gold reserves are calculated. Be sure to read that if you have not already. According to Mr. Wang, gold reserves are low in China. What I don’t know is, if the amount of below ground gold is being calculated. If what he is saying is true, China’s holdings are a lot less than the US’s 8,130 + tons and only tops 25 countries in the world. The IMF tracks over 110 countries. It seems like the smart thing for China to do, as they are the second largest holder of American debt during a time of US dollar devaluation.
The original story can be read by clicking the following link. You will need a translater.