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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (37232)7/29/2005 2:08:17 AM
From: RealMuLan  Read Replies (2) | Respond to of 110194
 
Some Chinese researchers already openly call on Chinese gov. to increase the gold holding in their foreign reserves, from the current 1.16% to 10% in order to counter the possible financial crisis (from the current 600 tons increased to 4000-5000 tons). And some of them suspect this basket of currency may contain gold, but no one knows for sure.

70% of the US reserve is gold (more than 8000 tons).

here is the link for the Chinese article
news.hexun.com



To: mishedlo who wrote (37232)7/29/2005 5:38:04 PM
From: Ramsey Su  Read Replies (1) | Respond to of 110194
 
Mish,

I have never done it before but have you ever tried to convert a billion US$s? Do you go to one of those airport kiosk?

I suspect if China converts their US$ to anything, we will see the mother of all US$ deflation.

On the other hand, China can certainly use the US$ and buy US$ denominated stuff, such as oil.

Ramsey


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