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XMFSinchiruna (27.49)

China Converting Incoming Dollars to Gold Reserves

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September 24, 2008 – Comments (2)

Count the number of times this analyst mentions gold in this 3-minute interview. Do you think she's trying to tell us something? :) She mentions the Euro and Yen when further pressed by the interviewer, but starts off by mentioning just gold. 

http://www.cnbc.com/id/15840232?video=865880359

2 Comments – Post Your Own

#1) On September 24, 2008 at 5:43 AM, DemonDoug (65.96) wrote:

China knows it can't do that too much or else the dollar will tank (and their economy is still too export-based), but yes, overall gold is going higher, no one can stop it, unless someone gets a Paul Volcker-like policy going, hard to see that happening any time soon.

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#2) On September 24, 2008 at 9:05 AM, XMFSinchiruna (27.49) wrote:

DemonDoug

Yeah.. no way... Volcker had the benefit of an otherwise strong economy as a starting point for his epic round of monetary tightening.

I think China knows the dollar is tanking anyway regardless of what they do, and they're preparing accordingly.

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