Gold dust

10/13/2013

My friend in Taiwan insists that China is slowly and carefully stockpiling gold in preparation for a transfer to a gold standard for their currency.

He claims they are doing it slowly so as not to push the price up.

They want to wean themselves off the essentially valueless US dollar so as to be independent of the US and it’s troubles.

Their timing will coincide to when their economy is 70% domestic so they aren’t too exposed to US consumption.

That’s the hypothesis anyway.