China tells people to buy gold & silver

[nguyenthanhvien]

If you want to make a lot of money, invest your money like real estate, stock market, crypto, etc. But there is a risk that you will lose it. If you want to preserve your fortune, buy gold and silver, and your assets will never be lost.

[icoresearch]

Probably, they are going to sell gold from the reserves at a good price and buy crypto instead? ))

[markj113]

Probably, they are going to sell gold from the reserves at a good price and buy crypto instead? ))

Why would they need to do that when they can print currency?

Cant print gold.

[Baimovic]

Gold assets and so on are also experiencing a sharp decline, current conditions are not possible for that, many people are forced to take usd because of strong economic pressure. I am personally not too affected because I believe that crypto assets will recover, but gold is not very effective to buy at this time.

[typertees]

Gold assets and so on are also experiencing a sharp decline, current conditions are not possible for that, many people are forced to take usd because of strong economic pressure. I am personally not too affected because I believe that crypto assets will recover, but gold is not very effective to buy at this time.

i agree. buying physical gold is so last year. crypto investment growth more faster. the digital era combine with the blockchain technology is more profitable investment at the moment

[Zigzagkuy]

I think that's no problem. Let people choose to buy anything. Because everyone's interests are different. So I think this is not important. Because gold is also my value is also a good investment. So that is all the choices and choices that are in yourself.

[Elseye]

For me its not surprising at all. This country is famous for their orthodox vision of things and tradition dedication. Also that may be the reason why they don't want to accept crypto in law.

[BitBustah]

Probably, they are going to sell gold from the reserves at a good price and buy crypto instead? ))

Why would they need to do that when they can print currency?

Cant print gold.

People often forget that new gold is being mined everyday.  The annual inflation rate of new gold found is only around 1-2 % but we shouldn't pretend that gold is deflationary.  

I believe America got off the gold standard when they realized they couldn't manipulate the economy unless they were detached from the gold standard.  Now they can type digital numbers into their computers at will and create as much currency as they wish.   The current economy runs off debt and without it everything would collapse.

[markj113]

People often forget that new gold is being mined everyday.  The annual inflation rate of new gold found is only around 1-2 % but we shouldn't pretend that gold is deflationary.  

I believe America got off the gold standard when they realized they couldn't manipulate the economy unless they were detached from the gold standard.  Now they can type digital numbers into their computers at will and create as much currency as they wish.   The current economy runs off debt and without it everything would collapse.

But more gold is traded than physically exists thanks to the comex scam that is leveraged 400:1.

1-2% additonal gold would match world population growth but gold mine production is in decline, 7% reduction by 2021:
http://www.mining.com/overall-see-gold-supply-dropping-7-pct-2021-newmont-ceo/

[Renai0925]

There's nothing wrong with diversifying to gold and silver but the thing is, it's harder to determine the purity of gold depending on what form you're buying them. There's also scams in buying them. If you buy necklaces or jewelry, it's harder to determine their selling price. Same with bars I think.

[KonstantinosM]

Don't even think for a minute the chinese government is doing that to benefit the people. I'm sure that the communist party is benefiting from it. If they ever wanted the gold back they can probably find an excuse to seize it.


Bitcoin can easily escape the country's borders. Bitcoin can also become un-stealable by the government if the person is strong-headed enough or sends them to an unknown third party within China.


I also think that many wealthy party members stand to benefit by selling gold.

[Xising]

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

China has $2 Trillion to $5 Trillion for Gold ?? Chinese government told/encourages its citizens to buy gold and silver in 2012.

I think many Chinese support that idea because of the reality that despite cryptocurrencies have been an upcoming trend, gold and silver are still more reliable and, in terms of value, still holds that virtually unchanging amount, and so, if you plan to keep it as an asset long term, even after holding it for a while, it will still hold the same value that could be used at any point in time once it is exchange for money. Also, I think it's their strategy to give their local-cryptocurrencies originating from China a jump start to gain a push to rise up.

[diger]

Yeah the price of gold in my country is more than $600 per 12 grams. The highest price of 2018. If you have lot of money you will definitely buy some gold or silver because it is real money. If you want to make money in short time then bitcoin is better than gold but if you want to have real money then gold is better than bitcoin. Both have their benefits.

[doanlang]

It is sad to hear that China has this news, despite being a mighty country and many resources but urged people to buy gold in 2012 is back in the back . While all other countries buy encoding money more than gold or silver .

[rasp]

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

China has $2 Trillion to $5 Trillion for Gold ?? Chinese government told/encourages its citizens to buy gold and silver in 2012.

That's very strange that in 2018 you are talking about some events that happened in China in 2012..
Moreover, the article that you gave as a link is dated early September 2009 - the time when crypto was hardly even heard about.
But yes, it is absolutely normal when a country encourages its citizens to buy precious metals - we all know that the value of any national currency is supported by the gold reserve.

[First77]

But more gold is traded than physically exists thanks to the comex scam that is leveraged 400:1. 1-2% additonal gold would match world population growth but gold mine production is in decline, 7% reduction by 2021:
http://www.mining.com/overall-see-gold-supply-dropping-7-pct-2021-newmont-ceo/

Buying 1 ounce gold will kill the trading scam. 1,000,000,000 ounce gold [bars and coins] purchased will eliminate traders cartel forever.

[First77]

That's very strange that in 2018 you are talking about some events that happened in China in 2012..Moreover, the article that you gave as a link is dated early September 2009 - the time when crypto was hardly even heard about. But yes, it is absolutely normal when a country encourages its citizens to buy precious metals - we all know that the value of any national currency is supported by the gold reserve.

Financial experts say stock markets will fall -30% to -40% from $1 Trillion trade war started by Donald Trump and China is in the direct line of Fire

[ufaiz50]

I do not know for sure how economic growth in China so I think it is natural if the government encourages its citizens to buy or invest in gold, China is also a country with a demand for gold as jewelry in the world with second place after India, whereas for silver I don't know much because I'm not very interested in silver. Besides being in the crypto world and buying some coins as an investment I also bought gold because in my opinion the risk is not so much.

[Pab]

China wants to block over 150 oversea exchanges and trading crypto services
Now can be many issue with fiat currency because of trading war
Germany is calling for developing swift alternative for Europe
Russia is buying as many gold they can we are entering in very hard time

[LeGaulois]

China gives excellent advice to its investors. I believe that an excellent example for their citizens

http://i64.tinypic.com/j621sk.jpg

Fuck off! You don't need to post over and over the same photo in different topics. It's not the first time you do it, you got warned already. You copy paste also the same shit over and over. If we want to see photos we can go to instagram or flickr
Get a life!