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China now buying newly mined US gold

derrybderryb Posts: 36,795 ✭✭✭✭✭
in Precious Metals
Hope CDE is on your list of mining stocks!

Good news for CDE

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭
    How long has this been going on?
    Does it have any relation to the U.S. Mint's problem getting enough "newly-mined U.S. gold" to make Proof gold eagles?
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • wpr101wpr101 Posts: 59
    That is pretty crazy. So basically China is mining so much gold, they can't find enough mines in China so they go to Alaska too? Does our government know about this? lol... not that they would do anything.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Any thing we let China have/take is treasonous IMHO!imageimage
    Avid collector of GSA's.
  • derrybderryb Posts: 36,795 ✭✭✭✭✭


    << <i>How long has this been going on?
    Does it have any relation to the U.S. Mint's problem getting enough "newly-mined U.S. gold" to make Proof gold eagles?
    TD >>



    Mint has enough gold and silver to produce proofs. They're spitting out record numbers of bullion aren't they. If they wanted to they could easily do a 10,000 - 20,0000 set run of silver and gold proofs. That would be only a drop in the bucket of what they are striking for bullion. It has nothing to do with resources, probably just an excuse to keep the extra work load down.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • johnny9434johnny9434 Posts: 28,313 ✭✭✭✭✭
    it is what it is image
  • NitroCruiserNitroCruiser Posts: 654
    When you own the store, you dip your hand into the candy jar as you please. image
  • MrOrganicMrOrganic Posts: 1,366
    If indeed it is China’s plan to increase its gold holdings, but while maintaining an orderly market in the yellow metal, it is a smart move. The main reason, almost certainly, that China did not buy the IMF gold on offer – or even a large hunk of it – would be that to do so would have sent a very overt signal to the market and that the gold price would have skyrocketed as a result. Such a movement in the price might have been seen on global markets as a vote of no confidence in the dollar – and with China’s huge dollar-related foreign exchange holdings this would not suit its long term economic policy either.

    image
    Singapore & Hong Kong March/April
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  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Smart, nice to have cash!

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • CaptHenwayCaptHenway Posts: 32,127 ✭✭✭✭✭


    << <i>Smart, nice to have cash! >>



    They have most of ours.........
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>

    << <i>Smart, nice to have cash! >>



    They have most of ours......... >>



    It's there money now.

    Didn't HAVE to go this way but obviously there are millions here who want even more of what China is running away from.

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    The main reason, almost certainly, that China did not buy the IMF gold on offer – or even a large hunk of it – would be that to do so would have sent a very overt signal to the market and that the gold price would have skyrocketed as a result. Such a movement in the price might have been seen on global markets as a vote of no confidence in the dollar – and with China’s huge dollar-related foreign exchange holdings this would not suit its long term economic policy either.

    Good points. What better way to accumulate gold and dump dollars without ruffling too many feathers? Was it Mao who said that the West would sell the very rope that one could use to hang them with, if a profit could be made.

    How long will we continue to buy cheap crap from China so that they can cherrypick our resources? What's next, farmland? Or does VanJones still have dibs on that?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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