Posted on 02/26/2010 7:17:34 AM PST by TigerLikesRooster
200 tons from the IMF, total imports 300-350 tons per the article here
http://www.freerepublic.com/focus/f-news/2422225/posts
Yea but that’s all for jewelry...they love the gold.../sarc
Whoa! I wonder if these large quantity purchases are unique to last year and this year, or fairly common in recent history. From my viewpoint I get the gut feeling that China and India see what’s coming and are preparing for a real SHTF financial meltdown scenario.
They ain't buyin’ it to make earrings!
BTW: if you're at all interested, the Indians bought that 200 tons last year at $1040/oz; so that makes that figure a fairly stable floor price these days.
Awesome to see someone busting out Mises. Needs to be done more on FR. The Austrian School of economics, as well as the Chicago School, hold the answers to liberating our economy and resolving our onerous and Byzantine monetary and fiscal systems.
Unfortunately, our POTUS doesn’t speak “austrian”, and even though he spent time in Chicago, he obviously never had the time to study the Chicago School of Economics....
the term “Chicago School” is associated with a particular brand of economics which adheres strictly to Neoclassical price theory in its economic analysis, “free market” libertarianism in much of its policy work and a methodology which is relatively averse to too much mathematical formalism and willing to forgo careful general equilibrium reasoning in favor of more results-oriented partial equilibrium analysis. The Chicago school is associated with neoclassical price theory and libertarianism in its support of lower taxation and private sector regulation, but differs from pure free-market economics in its support of government-regulated monetary policy
Below is a quote from the Obama worldtour 2009 he took after his swearing in ceremony......
“It was also interesting to see that political interaction in Europe is not that different from the United States Senate. Theres a lot of I dont know what the term is in Austrian wheeling and dealing and, you know, people are pursuing their interests, and everybody has their own particular issues and their own particular politics.”
Obama the feckless wonder wouldn’t know Menger, Mises, Hayek, Friedman, Stigler, et al. from a hole in the ground. He could tell you about Marx, Hegel, Shaw, Veblen, etc. though.
ChiCom gold purchase policy was reported here last November. The source was a ChiCom paper. Pravda does not have much of an exclusive here.
Chinese official: China should increase its gold holdings to 10,000 tons
yitbos
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