08 September 2009

But when we buy, the price goes up

From China alarmed by US money printing quoting Cheng Siwei, former vice-chairman of the Standing Committee and now head of China's green energy drive:

"Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets," he added.

This is a strong contender for my quote of the year.

5 comments:

goldnoob said...

I'm liking China's stance on PMs more and more.

Anyone notice Rudd hinting recently that we aussies should be learning asian languages for the near future? Almost as if he was hinting at the promise of an Australasian Union...but I may be reading way too much into that.

EU and NAU are a reality (or near enough for the former pending Lisbon Treaty), hopefully the AU will be established _without_ a world war between the BRIC nations and the Empire as Lyndon LaRouche reckons, if it's to be realised at all.

I don't want an RFID chip in my arm, though, and they seem dead set on that particular Orwellian nightmare. They even scared the Mythbusters guys, and I've never seen them scared.

Anonymous said...

Goldnoob


If you are really worried about RFID in your arm my advice is to draw a line in the sand and acquire the means to enforce it.


As to the linked article. When China buys Gold they buy physical. Of course the price shoots up. Gold is finite. Paper infinite. All the other central banks are playing with paper. China with the real deal

goldnoob said...

Acquire the means to enforce it?

If we get RFIDs en masse (they're already in some pets, prisoners, alzheimers patients, and nightclub VIP members) the intention is for it to become the new (and only) money, I gather, making opting out a bit like opting out of having a bank account would be now. i.e. not practical.

I hope it's a conspiracist fantasy, but there seems to be too much convergence from unrelated sources for there not to be something to it.

We already know that who controls the money controls the fate of nations, now imagine those with power over these chips being able to turn your money supply off, deduct on a whim without your consent etc.

goldnoob said...

Sorry Bron, I've gone way off topic.

Yes, and they're encouraging their people to buy up silver. Although Bron says that retail is so small as to be irrelevant to the price, I speculate whether the largest population in the world might have an effect.

Bron said...

When I say retail is small, I'm talking about current western world retail, but if we go mass market (east already is mass market), then that is a different story and we are talking about big dollars.