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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (55259)	9/21/2009 8:19:56 AM
From: Secret_Agent_Man	Read Replies (1) \| Respond to of 219865

BEIJING, Sept 21 (Reuters) - China is considering buying gold being offered for sale by the International Monetary Fund, Market News International said on Monday, citing two unnamed government sources, but the report could not immediately be confirmed. "China will consider buying if the price is right and the return is relatively high," MNI quoted one of the government sources as saying. Gold, which had dipped just below $1,000 an ounce, rebounded to $1,003.45 after the report. That would put the market value of the 403.3 tonnes on offer from the IMF at close to $13 billion. Read All Comments "There was a small reaction to the news that China may discuss its gold plans at the G20, it recovered a little, but overall the market isn't overly concerned, not yet anyway," a Europe-based trader said. China, the world's biggest producer and buyer of gold, revealed earlier this year that it had lifted its own stocks of gold to 1,054 tonnes from 400 tonnes when it last reported its holdings in 2003. The IMF formally endorsed a plan on Friday to sell 403.3 tonnes of gold, one eighth of its holdings, to central banks or in the gold market. Two Chinese central bank officials not directly involved in the issue told Reuters China should consider buying the gold being put up for sale by the IMF, but only at a big discount. The officials, neither of whom had direct knowledge of the gold strategy, said they were expressing personal opinions. "China only has about 1,000 tonnes of gold reserves and the investments in other assets are performing not very well," said one official, who declined to be named. "I think we should build up more gold with foreign reserves, but when to buy is the key. It's a good idea if China can buy the gold from IMF at prices well below market level." The official said he had no idea if the sale would be on the agenda for the G20 summit. "I personally think China should buy the IMF gold. It will help China to diversify its reserve assets," the second official said. "For the purpose of reserve safety, it is also good to increase the proportion of gold by a suitable amount." The estimated $13 billion cost of the is small beer for the Chinese exchequer, with foreign exchange reserves of more than $2 trillion. If it decided to buy the gold, China would be likely to seek a discount for the bulk purchase, since a market sale would put heavy pressure on the price. The IMF has said it will try to sell the gold, one-eighth of its holdings, to central banks. If there are no takers, it could sell to the market, which saw world gold demand of 3,880 tonnes last year, according to World Gold Council figures. The huge increase in reserves that China announced earlier this year had had little impact on the market because the gold was accumulated over a long period and mainly through direct purchases from Chinese producers. (Reporting by Eadie Chen and Tom Miles; Editing by Clarence Fernandez) Copyright 2009 Reuters forbes.com

To: TobagoJack who wrote (55259)	9/21/2009 3:52:23 PM
From: Maurice Winn	2 Recommendations Read Replies (3) \| Respond to of 219865

It's one of life's oddities that Great Britain delivered freedom, prosperity, capitalism, common law, english, habeas corpus and all that good stuff to Hong Kong then abandoned them there. Back home they adopted Marxism, world record cctv Big Brotherdom, imprisonment without trial or habeas corpus, ditched capitalism, despise prosperity, have envy taxes wall to wall, have dole, welfare and kleptocratic suffocatocracy then lecture people about the need to pay a fair share of taxes and that avoiding or evading taxation are bad things. Of course the bank should say, "Sorry, it's none of our business how you handle taxation. You do what you like". If the bank gave advice, their customer might hire a lawyer to sue them for bad advice as financial professionals. Avoiding, evading, dodging, ducking, fleeing, escaping, hiding from and otherwise ensuring the greedy, envious, violent, thieving, wastrel, bludgers who would enslave the productive is a sensible thing to do. There used to be a ditty, "Rule, Britannia, Britannia rule the waves, and we never ever ever will be slaves". Tax slavery is far more effective than outright state chattel serfdom type slavery. People are able to maximize their economic output and therefore the amount their owner can force them to pay. No wonder The British Empire faded and was abandoned by the colonies as taxation became the objective rather than exporting capital, talent, technology and civilisation to the hinterlands of the world for mutual profit. The socialist kleptocratic welfare bludging mentality spread to many colonies from the headquarters, but Hong Kong, where democracy never was established, escaped the depredations of the mindless Marxist mob. The British tried to install democracy in Hong Kong before folding the flag and handing it back to China. Democracy doesn't necessarily lead to welfarism on a grand scale - look at Singapore and Japan for example where being a lazy graffiti-writing violent dole bludger is not looked on as high civilisation. The Welsh, in a similar way, exported all their vowels to Finland when there was a major migration there long ago. Mqurice