China tells people to buy gold & silver

[Tenderino]

You can forget almost everything what governments are telling people in connection to money. If I remember correctly, the government of China purchased huge amounts of gold during the recent years. I think they have even the largest amount in the world. And now they advise its citizens to buy gold and price will increase? What a coincidence!

[rehydrogenated]

It is hilarious to me that the most anti-government people go crazy hard on gold and silver. Governments hold the most precious metals. They also benefit the most by the average person believing it has a ton of value. At the end of the day, governments know they can pay people in gold. So when you buy gold, you help governments. Anyway... here's my opinion on the precious metals

Silver - Most likely to moon. Has mooned many times in the past - due to whales cornering and manipulating the market
Gold - The OG bitcoin
Platinum - Waaay undervalued right now. I think people are too young to remember are the great products there were that had small catalytic converters as part of them. Large companies stopped making these products when plat got so expensive, but they will come back eventually.

[olumyd]

All investment streams should be encouraged not at the expense of the other. People who would be rich diversify their portfolios and earn a big buck buying everything that could become useful tomorrow when they sell it.

[Sithara007]

I am surprised by this news... Historically, the Chinese government has discouraged its citizens from buying bullion metals, as it can negatively affect their efforts to manipulate the national currency (Chinese Yuan). Is this news confirmed?

[First77]

I am surprised by this news... Historically, the Chinese government has discouraged its citizens from buying bullion metals, as it can negatively affect their efforts to manipulate the national currency (Chinese Yuan). Is this news confirmed?

Shanghai city in China

Video: https://www.youtube.com

[0t3p0t]

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.

Well for me it is good for the gold and silver investors as it's price keep on increasing in due time though not really the best investment compared to cryptocurrency wherein return is high but the only problem with crypto is high risk. Investing in a stable assets like gold and silver is a safer way for me because we can sell it anytime without loss as it's price keep on increasing unlike crypto that is very volatile that may result in loss if we sell it during dip. My only concern with these satble assets is it's security as we all know that most of the time we heard news about robbery, theft and it sometimes cause death for owners who fight against burglars. I think this is not just good for the people of China but for the whole country in general most especially to it's economy and they may use it to back up they fiat currency just like other highly developed countries did.

[cheeseandcrackers]

China has been trying to get rid of bitcoin for almost the entirety of last year, in my opinion this is likely just another tactic geared towards that.  Problem is, you really cant stop people from using blockchain technology without cutting off their connection to the web itself.  There's nothing wrong with investing in gold and silver, though.  Just wont really be big gains, if any at all.

[xhoondilan]

Since Gold and Silver is much more secure than investing in bitcoin. Also, its regulated already and government can impose taxes on that. If people earn more government will earn more too and there economic stability will increase too. As we all know china is one of the third world country that is still on developing. Maybe, this is some kind of there strategy to stabilize there economics. This is bad as well, since I could see this as 2 win situation at the end. People from their country will earn from it as well as the government.

[Irvinn]

At the moment, the movement of the yuan currency is being corrected where there is potential Beijing will buy more gold.Because China is the world's largest gold consumer.

China in general is a very peculiar country and is constantly looking for its own ways of developing the economy, and not unsuccessfully. There is nothing surprising in that they call on citizens to buy gold and silver. They have always been and are an undeniable value at any time. We do not know what can happen with bitcoin and another crypto currency in the future, but gold and silver are eternal values.

[rafi035]

I am surprised by this news... Historically, the Chinese government has discouraged its citizens from buying bullion metals, as it can negatively affect their efforts to manipulate the national currency (Chinese Yuan). Is this news confirmed?

Shanghai city in China

Video: https://www.youtube.com

This vidio was made in 2011 and may have many changes there. china is full of pros cons about cryptocurrency. they have residents with the largest users but seem to want to play with their personal advantage

[markk94]

well kinda just heard this news, i think china is already the best of advertisement and business matter. just if china is fully support in this cryptocurrencies world, then its progress to globally run and daily use could be more fast.

[onebtcforlife]

Yes, we need to diversify all investment into different portfolios in order to be safe because we don't when and which market will effect. At this condition, we need to have the different investment strategy to fulfil our loss with other investment. So diversify your investment is always a good strategy to the investor's point of view.

[fiulpro]

Well I have no idea what 2012 news would be any food to us but you know they are saying right since gold and silver holds value all over the world .
A countrie's wealth can be backed using them abd cryptos are something that Haven't earned their desired recognition right now..and it's day back in 2012 it would definitely have been a good option so I don't see how it relates.

[jaocoincrypto18]

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.

I think there is nothing wrong with this development as this is nothing to do with Bitcoin currency investments as every nation is entitled to develop and promote their own goods specially that gold, silver and mining are one of their souce of gross domestic products secondary to agriculture. Except if China totally ban Bitcoin and encourage the use of gold or silver as alternative investment then of course it will not favor the Bitcoin progress in the market.

[Maheshkumar_Hrangkhawl]

This news is not that much believable. A lot of restrictions exist in China for common people to invest in gold. Purchasing physical gold is quite difficult, although paper gold (ETF) is easily available from various banks and demat traders. China imports most of its gold, and therefore I don't think that the government will be very keen to increase its demand within the country.

[First77]

Shanghai city in China Video: https://www.youtube.com

This vidio was made in 2011 and may have many changes there. china is full of pros cons about cryptocurrency. they have residents with the largest users but seem to want to play with their personal advantage

Now Shanghai is New York. Look at all those tall buildings

[GoodLuck2]

I think that's just a way to take people's attention away from crypto...

It is an attempt made by government simply to stop people from getting involved into bitcoin too much. We all know that Chinese were at times the largest slot of investors of the crypto market when these digital currencies were banned in their country, the market suffered a lot. Government is aware of the fact that people are still in one way or another attached with crypto market, so they want to divert their attention.

[BitcoinMarshal]

Shanghai city in China Video: https://www.youtube.com

This vidio was made in 2011 and may have many changes there. china is full of pros cons about cryptocurrency. they have residents with the largest users but seem to want to play with their personal advantage

Now Shanghai is New York. Look at all those tall buildings

Now Shanghai is much ahead of New York because they are doing hard work for making this as business hub for world and too many things already done just because of this they are now playing mind games in every field and causing problems for other peoples encouraging peoples for this is not new in many markets they are playing main role and doing this same policy

[RDNX]

I think, 2012 is the year were gold and silver has its highest price.

Silver fell to $9/ounce. China still waiting to buy gold and silver.

The article was also written back in 2009. I think China was maybe playing the role of a pumper, then dumped their gold and silver holdings on the market 2 to 3 years later. Look at the gold and silver charts. It tells the same story.

So do you mean China will pump the gold and silver price? They encourage the people to buy, so the gov will dump at price high? If that true, many Chinese people will REKT.  This scheme like a pump signal group. Telling people to buy now, but the owner already buy at the dip price 

[Viyamore]

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.

It is because they are going to earn from it. THis is what we call a tangible asset. And gold and silver come from mining the nature. In this time, we are concerned for the welfare of our nature and technology is up now. So I think, it is not considerable to just buy golds and silver instead of bitcoins. China should think for the sustainability of golds and silvers for the next generations. Those have to be well preserved.