It would be interesting if they decided to strive to obtain the same weighting in gold for their reserves that the US Government has(55%) that would make quite a splash in Barrick's price projections,....I was referring to the US currency reserves..they are still mainly in gold bullion
I thought, according to all the gold fanatics, that the U.S. bullion reserves have been loaned out to the gold carry trade in the great gold conspiracy caper. If there is no unleased U.S. gold left in the vaults, we must conclude that the reserves are represented by some sort of fiat paper, and that gold is now jewelry sold through Walmart etc. If correct, your 55% is gone, and they will have to revise this table,...I wonder who the auditors are?? (gggggggggggggg)
http://www.ustreas.gov/ra/reserves.htm
I believe you are correct about the Chinese though. I sense they did emulate the U.S. reserve system, and now invest most of their currency reserves into military hardware, software and peopleware. Too bad the people in this small world couldn't trust each other and co-operate with each other and funnel those resources into something that saves and enriches lives.
No, I'm not suggesting that the U.S. is using military might to force their trading partners to take their fiat. The U.S. is using technological innovation, their corrupt auditors, stock and money markets, and enormous marketing might to do that.
When you go along for 1000's of years with little to no socioeconomic development,...and then all of a sudden you get rid of the gold standard, encourage innovation and technological change, educate the masses and accept that fiat is the best currency system ever,...we get the explosion in socioeconomic development we have seen in the last few decades. We are just dragging you gold fossils along behind us kicking and screaming (ggggggggggggggg) |
