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Politics : Stockman Scott's Political Debate Porch
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To: lurqer who wrote (11690)1/13/2003 3:07:15 PM
From: Jim Willie CB  Read Replies (4) of 89467
 
China has announced diversification of their $300B in reserves
in early 2002 I think they were predominantly USTBonds
but in summer 2002 they announced plans to make

1/3 USTBond
1/3 EuroBond
1/3 Gold

do the math
1/3 of $300B reserved in gold for a new central bank
that is a lot of chicken
now continue to add 1/3 of all new surplus reserves from trade
that be chicken with wings

I think two forces have driven up gold and dollar down
China and Islamic oil producers
money is heading into Euro and Gold
big money, and the trend wont quit until at least 2007

/ jim
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