Huge gold buying from China - GoFuckYourself.com

stillsexy · 12-03-2010, 08:54 PM

"As at 31 October 2010, the US has approximately 8,134 metric ton of gold reserve while China has only 1,054 metric ton of gold reserve."

Data cited Thursday by China's state-run Xinhua news agency showed that China imported 209.7 metric tons of gold in the first 10 months of the year, a fivefold increase compared with the same period last year.

http://marketnoise.blogspot.com/2010...rom-china.html

seeandsee · 12-03-2010, 08:58 PM

maybe they are making golden palace

stillsexy · 12-03-2010, 09:13 PM

they are buying expensive trees from oversea too... way to go... spend spend spend... spending on credit is even better!

Ethersync · 12-03-2010, 09:13 PM

Lots of countries will stock up on gold now with all the talk of some kind of new quasi gold standard coming once all the dust settles with our economic problems.

WarChild · 12-03-2010, 10:07 PM

Quote:

Originally Posted by Ethersync

Lots of countries will stock up on gold now with all the talk of some kind of new quasi gold standard coming once all the dust settles with our economic problems.

A Gold Standard would be a disaster.

Bill8 · 12-03-2010, 10:16 PM

Quote:

Originally Posted by Ethersync

Lots of countries will stock up on gold now with all the talk of some kind of new quasi gold standard coming once all the dust settles with our economic problems.

it's a shame that "betting on the future" systems that were predicted back in the cypherpunk days never materialized. (http://www.longbets.org/ doesn't count, it doesn't have the scalability and anonymity of a true future betting system)

cuz i'd be happy to bet you that unless civilization collapses back to an 1800s state no serious country would move to a gold standard, unless it's a part of a market basket.

the idea that countries are inevitably moving to a universal external standard for money is probably right, but it will be something like a market basket, or maybe a measure of energy like the kilowatt or the calorie.

such talk does not bode well for the united states.

JP-pornshooter · 12-03-2010, 11:20 PM

india has been buying lots of gold too

one of the reasons china buys gold is the fact gold jewelry actually is very popular for many wealthy chinese, apart from real estate its about the only investment they can get into.

btw lately gold and $ currency have moved in the same direction = higher; mostly due fact nobody wants to hold euros right now

Ethersync · 12-03-2010, 11:28 PM

Quote:

Originally Posted by WarChild

A Gold Standard would be a disaster.

Tell that to the World Bank, Michael Bloomberg, and many others.

...and I said a quasi-gold standard.

DBS.US · 12-03-2010, 11:29 PM

http://www.popsci.com/diy/article/20...fake-gold-bars

k0nr4d · 12-04-2010, 12:05 AM

Quote:

Originally Posted by stillsexy

they are buying expensive trees from oversea too... way to go... spend spend spend... spending on credit is even better!

In their position, it is extremely smart to spend spend spend especially on credit... They are an export-driven country and it is in their best interest to devalue thier currency against the US dollar and EUR...

stillsexy · 12-04-2010, 01:09 AM

in Asia, esp in hk & spore, US$1 million could probably buy u a peice of crappy property (tiny studio)... Rising wealth in Asian does not mean rising living standard, in fact, the living standard has been declining...

djroof · 12-04-2010, 01:23 AM

gold never dies in crisis...

Davy · 12-04-2010, 02:35 AM

Pfff... the Chinese always need to one-up the others. Maybe it's a penis-size related issue?

stillsexy · 12-04-2010, 03:35 AM

Quote:

Originally Posted by Davy

Pfff... the Chinese always need to one-up the others. Maybe it's a penis-size related issue?

thought it's the jap issue?

stillsexy · 12-04-2010, 03:37 AM

so r u sayin the chinese is getting chicks using gold as bait, rather than big penis? how many gold bars = 1 big penis?

DWB · 12-04-2010, 06:47 AM

Quote:

Originally Posted by WarChild

A Gold Standard would be a disaster.

You are probably correct. However, as painful as it would be for a while to go back to the gold standard, long term it would probably pan out better than the unsustainable system that is in place now.

But I make porn for a living, so what do I know.

Kingfish · 12-04-2010, 09:38 AM

They are just getting on board the golden rule ?He who has the gold makes the rules" and they wanna make the rules now.

Coup · 12-04-2010, 09:41 AM

Quote:

Originally Posted by WarChild

A Gold Standard would be a disaster.

I've heard there's not enough gold in the world to cover the gdp of the united states alone.

Ethersync · 12-04-2010, 09:54 AM

Quote:

Originally Posted by Coup

I've heard there's not enough gold in the world to cover the gdp of the united states alone.

...at the current valuation.

CamsMaster · 12-04-2010, 10:36 AM

gold = $$ = Euros = gold :D

minicivan · 12-04-2010, 11:13 AM

Quote:

Originally Posted by Ethersync

Lots of countries will stock up on gold now with all the talk of some kind of new quasi gold standard coming once all the dust settles with our economic problems.

And how is that "gold standard" going to work when our economy is larger than the worlds gold supplies?

_Richard_ · 12-04-2010, 11:54 AM

wonder why they'd be doing that, if they were expecting the USD to remain the reserve currency

Ethersync · 12-04-2010, 11:57 AM

Quote:

Originally Posted by minicivan

And how is that "gold standard" going to work when our economy is larger than the worlds gold supplies?

Already answered that. It's pretty fucking simple to figure out...

The Demon · 12-04-2010, 11:58 AM

Its called a gold cover clause ratio, otherwise known as a fractional reserve gold standard.

Coup · 12-04-2010, 12:01 PM

gonna be a small fraction lol

12-03-2010, 08:54 PM	#1
stillsexy Confirmed User Join Date: Dec 2006 Posts: 1,913	Huge gold buying from China "As at 31 October 2010, the US has approximately 8,134 metric ton of gold reserve while China has only 1,054 metric ton of gold reserve." Data cited Thursday by China's state-run Xinhua news agency showed that China imported 209.7 metric tons of gold in the first 10 months of the year, a fivefold increase compared with the same period last year. http://marketnoise.blogspot.com/2010...rom-china.html __________________

12-03-2010, 08:58 PM	#2
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	maybe they are making golden palace __________________ BUY MY SIG - 50$/Year Contact here

12-03-2010, 09:13 PM	#3
stillsexy Confirmed User Join Date: Dec 2006 Posts: 1,913	they are buying expensive trees from oversea too... way to go... spend spend spend... spending on credit is even better! __________________

12-03-2010, 09:13 PM	#4
Ethersync Confirmed User Join Date: Mar 2008 Location: London, Saint-Tropez, Bermuda, Moscow Posts: 5,289	Lots of countries will stock up on gold now with all the talk of some kind of new quasi gold standard coming once all the dust settles with our economic problems. __________________ The best ePassporte replacement I have found: OKPAY

12-03-2010, 11:20 PM	#7
JP-pornshooter Confirmed User Join Date: Sep 2006 Location: westcoast usa Posts: 4,007	india has been buying lots of gold too one of the reasons china buys gold is the fact gold jewelry actually is very popular for many wealthy chinese, apart from real estate its about the only investment they can get into. btw lately gold and $ currency have moved in the same direction = higher; mostly due fact nobody wants to hold euros right now __________________ "Obscenity is whatever gives the Judge an erection." -- Author Unknown

12-03-2010, 11:29 PM	#9
DBS.US Geo Cities Industry Role: Join Date: Aug 2003 Location: North Captiva Island, Florida USA Posts: 11,831	http://www.popsci.com/diy/article/20...fake-gold-bars __________________ Make a Free Chaturbate White Label site in 34 minutes and be making money tonight

12-04-2010, 01:09 AM	#11
stillsexy Confirmed User Join Date: Dec 2006 Posts: 1,913	in Asia, esp in hk & spore, US$1 million could probably buy u a peice of crappy property (tiny studio)... Rising wealth in Asian does not mean rising living standard, in fact, the living standard has been declining... __________________

12-04-2010, 01:23 AM	#12
djroof JuicyDevils.gr Owner Industry Role: Join Date: Jan 2004 Location: Greece Posts: 25,391	gold never dies in crisis...

12-04-2010, 02:35 AM	#13
Davy Confirmed User Industry Role: Join Date: Apr 2006 Location: Germany Posts: 4,323	Pfff... the Chinese always need to one-up the others. Maybe it's a penis-size related issue? __________________ --- ICQ 14-76-98 <-- I don't use this at all

12-04-2010, 03:37 AM	#15
stillsexy Confirmed User Join Date: Dec 2006 Posts: 1,913	so r u sayin the chinese is getting chicks using gold as bait, rather than big penis? how many gold bars = 1 big penis? __________________

12-04-2010, 09:38 AM	#17
Kingfish Confirmed User Join Date: Sep 2002 Posts: 668	They are just getting on board the golden rule ?He who has the gold makes the rules" and they wanna make the rules now.

12-04-2010, 10:36 AM	#20
CamsMaster Confirmed User Join Date: Mar 2009 Posts: 1,200	gold = $$ = Euros = gold :D __________________ Sex Chat Roulette \| Adult Sex Chat \| Cam Sites \| Mature Cams \| Director Web \| Videochat \| Webmaster \| MediaEnterprise

12-04-2010, 11:54 AM	#22
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Earth Posts: 30,989	wonder why they'd be doing that, if they were expecting the USD to remain the reserve currency

12-04-2010, 11:58 AM	#24
The Demon Confirmed User Industry Role: Join Date: Apr 2003 Posts: 7,336	Its called a gold cover clause ratio, otherwise known as a fractional reserve gold standard. __________________ Greed is Good

12-04-2010, 12:01 PM	#25
Coup 🚨 PBBC International 🚨 Industry Role: Join Date: Apr 2010 Location: /👁\ Posts: 9,931	gonna be a small fraction lol