China tells people to buy gold & silver

[chris200x9]

this sounds to me more like bullshit news and the source of it is kind of strange too, and on top of it all OP is a known person for spreading this kind of false information about anything so i wouldn't take it seriously.

we all know precious metals are good investments but the timing in that market is also important. and the same things you see in bitcoin is also seen there on a much smaller scale.

Gold and silver always favorite investment for many people and its already known for centuries. But I think with many people have internet connection, we will need currency that can be used for payment on internet transaction and cryptocurrency is the answer for solution

If your only looking for a payment option online then you can do that with credit cards, PayPal and other banking options. Apart from payment people consider bitcoins as an investment option to grow their money.

Whatever will be happening out side crypto-world will be less bothered by this community. Moreover all Chinese people must have been buying bitcoins and new instructions from their government is to continue that by deviating the focus from cryptos.

Bitcoin community keeps asking "why did bitcoin fell from $20,000 to $6,000". Look at other safe investments also....

Any price goes up very fast then there are potential chances of a correction in prices and that is what happening now. If you can hold then you may get a chance to make a profit in the future.

Also, never invest all your money in single investment but you need to consider to diversify your funds.

[Finnsimon]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

Yes, its not bad to invest in gold and silver for they are an asset, but I guess China pushes people to buy those to cover or discourage people to buy bitcoin instead for they don't support bitcoin. Only in my opinion.

[First77]

Yes, its not bad to invest in gold and silver for they are an asset, but I guess China pushes people to buy those to cover or discourage people to buy bitcoin instead for they don't support bitcoin. Only in my opinion.

China’s gold imports have surged over 700% since 2010

and the country remained the world's biggest consumer of the precious metal last year, according to the latest data from Hong Kong.In 2015 the country imported almost 1,000 tons of gold, compared to about 100 tons five years ago. China was followed by India which imported 849 tons of gold in 2015.Last year China’s demand for gold coins surged 25 percent in the fourth quarter from a year earlier. The rush followed Beijing’s devaluation of the yuan as consumers sought to protect their wealth.China’s central bank has also accelerated gold purchases to diversify the country's reserves away from the US dollar.However, Beijing doesn’t explain the jump in gold demand, claiming the country’s gold reserves have grown only a little in recent years.

China has a lot more gold than they declare," John LaForge, head of Wells Fargo's commodities team told CNN.For the last six years Beijing has stayed secretive about its gold reserves. Last year the government finally revealed a nearly 60 percent growth in reserves since 2009. The country became the fifth largest holder of gold in the world, following the US, Germany, the International Monetary Fund (IMF), Italy and France.

https://www.rt.com/business

[Silberman]

China is accumulating a big amount of Gold and once they have enough they will be able to control it. I am surprised though that they are so into metals but so against Bitcoin and other altcoins but I think this might change if they begin to promote ONLY THEIR ALTCOINS so they keep all the wealth within Chinese hands. Think about it, China has used a protectionist policy for aeons so I doubt it would change fiscal policies now. China will only allow what will strengthen it's own national currency and decentralized currencies do not benefit the Chinese Central Government or the Central Bank, but buying gold does, because they own a big amount.

It is not really difficult to see why they are so against bitcoin, gold is great but there is a limited amount of gold that you can carry with you and since it's physical it can be very easy to confiscate or to find, with bitcoin is the complete opposite, you can carry as much as you want, it is completely invisible and unless you revealed that you have it no one will ever know.

[soul-impact]

because the Chinese government is strictly bitcoin. They think bitcoin will impact on the economy. China encourages people to buy gold and silver instead of bitcoins. they do not like bitcoin.

[Hell-raiser]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

And what's the point of all that? Do you mean to say the Chinese government tells their population in this subtle way that they should get rid of the American dollar? If so, I think it has more to do with the trade war which is about to start in full between the US and China, not so much with the collapse of the dollar system itself as many posters here have likely already assumed. Maybe, it was actually a signal for the American government.

[bearexin]

if we bear in the mind the industry and strategy of china towards than this call is quite normal for me and even though the commodity price falls it won`t fall as much as btc so it is safer for them.

There is big move predicted in the price of gold and silver.

But I can bet on this, that big move won’t be as big as bitcoin’s one are. No other asset whether physical or digital is as beneficial as bitcoin. China has been trying to divert attention of all people here for years now. If it really considers gold and silver to be more profitable than bitcoin, how about buying all of it. I believe, china has that much capacity. Be like Japanese and go for bitcoin to have a good future.

[Belliapro]

because the Chinese government is strictly bitcoin. They think bitcoin will impact on the economy. China encourages people to buy gold and silver instead of bitcoins. they do not like bitcoin.

not just to think again, two years ago even the crypto currency has managed to erode the rate of economic inflation there because too many miners and ico is very massive, there has been the transfer of assets to the crypto in the medium scale, this is what causes the government invites back to the pattern of the sector real, it's just an alibi because it looks like the government wants wants to regulate, but it has not been able to perfect the crypto draft into a whole regulation.

[kissme09]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

Gold and silver are investment options that are highly stable and their prices are not affected by the overall market trend. But gold and silver will not be a good choice for those who want to be rich because their value is stable.

[Hell-raiser]

Gold and silver are investment options that are highly stable and their prices are not affected by the overall market trend. But gold and silver will not be a good choice for those who want to be rich because their value is stable.

Well, that is disputable and can be easily challenged. In fact, it is quite the other way round. It is not the price of precious metals that remains stable, it is their value or valuation which is pretty much constant over years. Ans exactly because of this their market price is more than affected by market trends. For example, when USDX, the indicator which shows the strength of the US dollar, goes down the price of gold typically surges. You can take historical data for the last 10 years and check for yourself that there is a strong negative correlation between these two market indicators.

[wozzek23]

this sounds to me more like bullshit news and the source of it is kind of strange too, and on top of it all OP is a known person for spreading this kind of false information about anything so i wouldn't take it seriously.

we all know precious metals are good investments but the timing in that market is also important. and the same things you see in bitcoin is also seen there on a much smaller scale.

Gold and silver always favorite investment for many people and its already known for centuries. But I think with many people have internet connection, we will need currency that can be used for payment on internet transaction and cryptocurrency is the answer for solution

If your only looking for a payment option online then you can do that with credit cards, PayPal and other banking options. Apart from payment people consider bitcoins as an investment option to grow their money.

Whatever will be happening out side crypto-world will be less bothered by this community. Moreover all Chinese people must have been buying bitcoins and new instructions from their government is to continue that by deviating the focus from cryptos.

Bitcoin community keeps asking "why did bitcoin fell from $20,000 to $6,000". Look at other safe investments also....

Any price goes up very fast then there are potential chances of a correction in prices and that is what happening now. If you can hold then you may get a chance to make a profit in the future.

Also, never invest all your money in single investment but you need to consider to diversify your funds.

I won’t refer to the present situation as some sort of correction that was required. The only thing that happened is bitcoin touched 20k dollars and that gave the holders huge amount of profits on selling it out so it happened. Whenever a big selling takes place of any asset, it decreases in value. Now bitcoin is dip as well as altcoins and this is the time to buy more digital coins at low rates.

[CryptoMoar]

In my opinion. the possibility of the Chinese government is shifting the focus of the investors to prefer gold or silver to be used as an investment tool. and reduce investment in the form of digital currency. so it will be more profitable for a more real and targeted Chinese economy to get definite results.

[d1ceplayer]

this sounds to me more like bullshit news and the source of it is kind of strange too, and on top of it all OP is a known person for spreading this kind of false information about anything so i wouldn't take it seriously.

we all know precious metals are good investments but the timing in that market is also important. and the same things you see in bitcoin is also seen there on a much smaller scale.

Gold and silver always favorite investment for many people and its already known for centuries. But I think with many people have internet connection, we will need currency that can be used for payment on internet transaction and cryptocurrency is the answer for solution

The market of expensive metals used to have worth a couple of decades ago, now in majority of the countries they are limited to ornamental uses. People are leaving these markets as mode of investments rather going after crypto currencies. The main primary reason for this change is the tendency of crypto to generate huge money in little time. People want some easy solutions, no one like carrying gold here and there.

[TYPEcoin]

In my mind that's really  good investment, but I don't think that government should to make this advices to people also.

[masterchief001]

China is also a thriving economy. The people of this country often buy gold and silver. China has a bitcoin ban so that is also part of the bitcoin fall. I do not like China even though they are very talented but they do not have virtue, their morale is high.

[GoldenLad]

Of course they will, the Chinese government believe that investment in Silver or Gold will not prevent them to monitor their citizen assets the way Cryptocurrency did. Gold and Silver are still valuable assets and shouldn't be ignored. The Chinese government felt that since noone is controlling cryptocurrency, that their people will have too much allowance by doing things the way they want.

[ajochems]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

The reason for this is they want the people to inverse for their country development. If the people of China invest in cryptocurrency, the profit from it is get into the investors pocket.To get some taxes from the people, the China government ask them to inverse in gold and silver.

[MintCondition]

In my opinion. the possibility of the Chinese government is shifting the focus of the investors to prefer gold or silver to be used as an investment tool. and reduce investment in the form of digital currency. so it will be more profitable for a more real and targeted Chinese economy to get definite results.

They have at least control in the gold and silver investment that they can put a tax on their people as well used in in the growing circulation of their market, they see crypto somehow threatening their industry since its decentralized and the profit goes not only within their limit but its worldwide.

[First77]

If President Obama had crossed his stated Red Line In The Sand, the Syrian disaster would have ended long ago! Animal Assad would have been history!

https://twitter.com

[DarkIT]

I think it is not wrong to buy silver and gold, it is also a very good investment. but, not everyone can buy, and take advantage of it. many people expect crypto, but china banned it for his country.