China wary of gold 'bubble’ danger after quietly doubling its reserves

[peaceandlove]

China wary of gold 'bubble’ danger after quietly doubling its reserves

The Chinese authorities have given the clearest indication to date that they view the surge in gold to an all-time high of $1,217 (£730) an ounce as a speculative frenzy.

By Ambrose Evans-Pritchard
Published: 8:22PM GMT 02 Dec 2009

Hu Xiaolian, the vice-governor of the central bank, said Beijing would not buy gold indiscriminately.

“We must keep in mind the long-term effects when considering what to use as our reserves,” she said. “We must watch out for bubbles forming on certain assets and be careful in those areas.”

China announced this year that it had quietly doubled its gold reserves to 1,054 tonnes,
the world’s fifth largest holding. India has also joined the rush, gobbling up half the IMF’s gold sale.

Continues: http://www.telegraph.co.uk/finance/c...-reserves.html

SOURCE: http://solari.com/blog/ Catherine Austin Fitts' blog

[Swanny]

Gold prices took a big hit yesterday

[Connecting with Sauce]

Originally Posted by Swanny

Gold prices took a big hit yesterday

50/1210 > 4% in one day is a big drop but... if you scroll down on this website...

http://www.kitco.com/charts/livegold.html

You will see fundamentally that gold has risen 61% in the last year from $750 to $1210 yesterday... (1210-750)/750 equates to a 62% rise on the 750 price!

When you realise the buying power the group that want it down have you understand why the drops are bigger and faster than the rises... but it will come back up...

This may be clearer for people...

http://www.kitco.com/charts/techcharts_gold.html

when the red crosses the blue AND the green lines (like in Aug 2008) will be the time to sell Gold... Now is the time to watch it go up...

[peaceandlove]

Listen to Bob Chapman at the beginning of the Friday Discount Gold and Silver show say at the beginning (after the introduction)...

He expected a correction at the 1250 to 1325 area...

"This is not going to last long..."

"that rinky dink employment report was supposedly the excuse, that was just a cover, it was slightly better and that's about it. They wanted to correct it (gold)..." Silver did better, just trying to knock gold down.

"I wouldn't be surprised if gold was relatively near even on Monday and then start back up again...it all depends on whether the government wants to put more shorts on or to cover them"

http://libertyarchives.com/farlive/FS2_FRI.MP3

I imagine the slightly better employment figures had something to do with Holiday part time jobs.

[peaceandlove]

Bob Chapman also interviewed by Alex Jones on 12/4/2009

VIDEO Part 1 of 3 (9:21): http://www.youtube.com/user/TheBobCh.../2/g6Crc57KPmA

[SWIFT]

Gold is like Cabbin Fever,

The man in the corner counting his gold money while the boy in street begging for some honey and bread

A women is crying as she wipes the blood of her lips and forced to be quite while hodling her gold ring

The man removing his golden rings while he hits his kids and the childern hidden in the kitchen hugging those golden shoes

The women similes as the gold shines in the sun while the beggers ask for food

Gold is a mineral of lust and dust
Greed is the shadow that haunts us all

Cheers
SWIFT

[Swanny]

I'd buy some if I had any money

[pineal-pilot-in merkabah]

Originally Posted by Swanny

I'd buy some if I had any money

me too, im preferring survival equipment and food stores, tradeable goods like bottles of jack daniels ciggarettes ect. more easily tradeable and cheaper.. more sought after.

[joe2288]

Originally Posted by pineal-pilot-in merkabah

me too, im preferring survival equipment and food stores, tradeable goods like bottles of jack daniels ciggarettes ect. more easily tradeable and cheaper.. more sought after.

brilliant i never thought of that, but in other news whens this bubble gonna

burst because i do plan on buying moderate amounts of silver and i wanna

know the best time to invest

[Connecting with Sauce]

Originally Posted by joe2288

i wanna

know the best time to invest

Last year

[rhythm]

Originally Posted by Swanny

I'd buy some if I had any money

na! Swanstar

your already a diamond geezer..........

[Kundaflower]

Hi all,

Gold as base from which fiat money is created is problem when PRIVITE
BANKERS have all the gold and power to issue money.

That means that creation of money and decision power of how, were and who is gonna have it is not in the hands of democratic goverment.

Of cource we have this situation also now even when our money is not based on gold.

Money should be created by sovegrein goverments only not privite banks.
Backing money with Gold is just part of the problem.

We the people, must start to take this matter in consideration and fast.

Option is that those in power will present again and again systems
which will serve only few.

Just see WHO paid the fun so far?

Peace and monetary reform!
Kunda

[Swanny]

Originally Posted by rhythm

na! Swanstar

your already a diamond geezer..........

Thx
But diamonds are a very common crystal just made to look rare