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People's Bank of China official Zhang Jianhua declared yesterday: "No asset is safe now. The only choice to hedge risks is to hold hard currency - gold."
China's $3.2 trillion in foreign reserves are currently invested one-third in U.S. treasuries 20 percent in euro-denominated assets and only 1.8 percent in gold, according to China Daily. China has one of the world's biggest gold reserves at 1,054 tons. Read more: www.businessinsider.com...
Originally posted by TopElite
False. Bullets and gold are the only safe haven... So when everything goes to heck and everyone will be locked in their houses holding their gold coins and people are shooting people on the streets more people will be wishing they bought bullets instead. I won't be buying any gold. I am only buying bullets, food, water and seeds. Like you stated though this is pretty interesting.
Originally posted by Wrabbit2000
I wouldn't touch gold for all the advice on Earth. This is only working to make my feelings stronger on the point. China says buy, yet they don't buy themselves. China and Russia both have reserves left to mine that can simply destroy the gold market almost overnight if they just cut loose with what they have and dump it outright. Of course, they won't HAVE the holdings that such a move would destroy...but when such a large % are clinging to gold like a life raft, destroy it would.
What better way to just lay the whole world flat in a fit of opportunistic excess and walk in to buy whatever they'd like to own in the aftermath? Monuments...Buildings...NATIONS...whatever China or Russia may take fancy to. All they need to do is keep encouraging this madness to hoard gold..and then flood the market at the right moment.
Those who argue for Copper, Lead and Brass as the metals to hoard are onto something. You can't eat gold..you can't shoot gold..and unless everyone wants to take a crash course on assay of gold, you won't even be able to trade the stuff after TSHTF once people realize Tungsten Steel weighs EXACTLY the same...and that is only one method to spoof a sloppy or amateur gold system.
Don't mind me though..the experts all say buy buy...so, by all means... buy!
Originally posted by TopElite
PS. If the government wants more "currency" like gold and silver they will take it away from you like they plan on doing with our guns and food.
The CIA, FBI, TSA have already been going into places like efoods direct who sells emergency foods and asking for a print out of all the people who are stocking up on foods...(efoods is a sponsor of Alex Jones and they called him and told him about the government wanting the names. It was on his radio show0 Why do you think this is something they would want to know. This country is going down the pipes and it's happening right in front of our faces. It's dang near scary.