China 's gold reserves 1of2 growing by leaps and bounds

By Increase Savings | Published: May 6, 2009

little more than one-tenth of the value of the US gold reserve, the world’s biggest. It also means gold has slipped as a share of China’s total reserves from about 2%, based on end-2003 prices. Only six countries hold more than 1000 tonnes, and China is ranked fifth, having leap-frogged Switzerland, Japan and the Netherlands with its announcement. However, the International Monetary Fund and the SPDR Gold Trust exchange traded fund are even bigger, leaving China with the world’s seventh-biggest …

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19 Comments

  1. cds162
    Posted May 6, 2009 at 5:24 am | Permalink

    i’m buying… hope you are too!

  2. cds162
    Posted May 6, 2009 at 5:24 am | Permalink

    China is buying gold.. and so should you
    (and/or silver too)

  3. gringott12
    Posted May 6, 2009 at 5:24 am | Permalink

    China has cut up the US credit card.
    They have to get out of the dollar so they have something left when US hyperinflation hits.
    All that US debt they hold won’t be worth the paper it is printed on.
    They are getting ready, so should you.

    I like how they put words in other people’s mouths. I haven’t heard anyone say you are crazy or stupid to buy gold. Only these people on this video.

    Only fools thought the high real estate prices made sense.

  4. Muraabit
    Posted May 6, 2009 at 5:24 am | Permalink

    1:25

    a) ”they heard what I said and did what I said”

    lol max

  5. bbn1980
    Posted May 6, 2009 at 5:24 am | Permalink

    unfortunately, my neighborhood supermarket doesn’t accept gold when I want to purchase bread….yet.

  6. smashsamus
    Posted May 6, 2009 at 5:24 am | Permalink

    why, you ask? because China is set to be the next world power. but I don’t think all thhis shit is going to last all that much longer though. all this stuff WILL come to an end.

  7. KhmerD0g
    Posted May 6, 2009 at 5:24 am | Permalink

    lingerie bowl boobs.

  8. madridisinSpain
    Posted May 6, 2009 at 5:24 am | Permalink

    The dollar is not backed by gold anymore. Nixon took the dollar out of the gold standard after France realized that the US was printing more dollars that what they had backed with gold, and the french asked to ship their dollars in gold to their country. Look at glen beck – inconvinient debt

  9. streakAsia
    Posted May 6, 2009 at 5:24 am | Permalink

    Can I ask why everyone in the states don’t go demand GOLD for the dollar… isn’t claimed to be BACKED by gold? Get the GOLD, everyone and you will learn it is all VIRTUAL. DEMAND GOLD FROM YOUR EMPLOYER for YOUR WORK

  10. streakAsia
    Posted May 6, 2009 at 5:24 am | Permalink

    notice the hand on the panda, it is holding it out begging

  11. streakAsia
    Posted May 6, 2009 at 5:24 am | Permalink

    it is not all China’s gold. Some have been moving to China as well… why?

  12. CurrencyCafe
    Posted May 6, 2009 at 5:24 am | Permalink

    So buy GOLD.

  13. leepakim
    Posted May 6, 2009 at 5:24 am | Permalink

    and silver?

  14. PestControl02
    Posted May 6, 2009 at 5:24 am | Permalink

    great info & entertaining
    5*

  15. mrzack888
    Posted May 6, 2009 at 5:24 am | Permalink

    did someone say “Gold”!!!

  16. tinstareel2
    Posted May 6, 2009 at 5:24 am | Permalink

    Woo! Gold standard here we come…

  17. calypsodelta99
    Posted May 6, 2009 at 5:24 am | Permalink

    NYAHHAHAH, Neil Cavuto, that fuck, look at him (3:28), he’s eye them tittes!

  18. Danster82
    Posted May 6, 2009 at 5:24 am | Permalink

    umm hu

  19. SandyAllred
    Posted May 6, 2009 at 5:24 am | Permalink

    Good report!

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