If you think this fiat system will be around forever you're...

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23/03/19

06:36

Post #: 37859792
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Originally posted by slay22: ↑

Very likely. China have been playing a long and patient game building up their sovereign wealth and moving away from the USD standard. The Chinese history is long and proud, they were once the most powerful nation and biggest economy on earth that they sure haven't forgotten about. They are thinking long long term and I believe working their way back to the glory days of the Silver Empire. Gold and Silver = Power and they know this. The Chinese people have been buying up gold big time since The Chinese government lifted the ban (in 2004 from memory) and the Gov have actually been promoting it to their citizens. The Chinese don't have trust in paper money as they've learnt from history, metals they trust. Who knows how much the Gov hold as the biggest producer in the world and one of the biggest importers, plus their citizens have also been hoarding for a long time.

Russia under Putin have also built up their sovereign wealth and actually have the second most gold in the European region behind Sweden, quite a feat from 25 years. Putin's greatest legacy will be restoring Russia's sovereign wealth through a long and steady gold hoard that they physically hold.

If you think this fiat system will be around forever you're dreaming. It's a question of when and these countries have a lot more patience then any stacker or investor

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If you think this fiat system will be around forever you're dreaming.
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Quite possibly - kids don't carry cash these days, they carry only a card or two. You're dreaming if you ever think we'll go back to a gold standard or carry gold ducats or sovereigns around in our pockets.
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Add GOLD (COMEX) to my watchlist

If you think this fiat system will be around forever you're...

Top Stories

Cyclone signs MOU with Vale for development of Iron Bear play

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

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Banshee's historic trenches prove rich in antimony and gold for GDM

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks