Has golds heroic seller gone away?

Justacommeman

fluffy but interesting

MJ

bluelobster

I had to laugh when I saw "radical gold bugs".

He's not talking about anyone on here is he

derryb

There is speculation that China has slowed down on their purchases of gold as they attempt to wrestle away southern europes holdings with a "rescue" of the potentially defaulting nations. Further speculation that China is covertly trying to build their gold reserves with the sale/trade of US Treasuries in an attempt to eventually back the "redback" (yuan) so that it will become the strongest paper in the ongoing currency wars. As the status for world currency becomes up for grabs, it will probably be won by the first major currency to become backed by gold.

Make no mistake, China is successfully building partnerships in europe and southern asia that will eventually lead to the US's loss of supporters in keeping the US$ as the world currency. What the US is attempting to do with its military worldwide, China is successfully (and quietly) accomplishing through diplomatic and banking channels without a need for expensive and perceivably threatening worldwide military installations. The US and UK will be left in the cold when the rest of the world has to choose economic sides. By then they will have become too indebted to China to say "no."