Friday, November 14, 2008

Chronicles Of Depression 2.0: #409: Gold

China needs to buy more gold
China's Gold Association has called on the government to sharply increase its holdings of the precious metal, as the U.S. dollar may soon decline. The government currently holds 600 tons in its reserves. The association says this figure should be increased between five and six-fold.

Emphasis added by me.

OK, this is Big. Very, very big.

See yesterday's post: Chronicles Of Depression 2.0: #407: $2K/oz.

Could China find itself as the richest nation in the history of mankind next year?

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