WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Did you wipe it off?

Business Insider:
We just came across a Bloomberg News article quoting an official from the state-owned Assets Supervision and Administration Commission (Ji Xiaonan, the Chief) as saying “we recommend China increase its gold reserves to 6,000 metric tons within three-to-five years and possibly to 10,000 tons in eight to 10 years.” China’s reserves, after a 76% buildup since 2003, currently stand at 1,054 tons, so we are talking here about the prospect of some pretty heaving buying in coming years.

China's going to be buying 1000 metric tons a year? That's something to get excited about.


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