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@Wanka re James G. Rickards is the editor of Strategic Inteliigence

Posted by Mr.Copper @ 11:58 on January 19, 2015  

Re part:
“China would be left in the dust. It wouldn’t have enough gold relative to the other countries, and because their economy’s growing faster and because the price of gold would be skyrocketing, they could never acquire it fast enough. They could never catch up. All the other countries would be on the bus. The Chinese would be off the bus.”

Comment:
Imo there is no way of knowing how much gold any country really has. But even if you go by the “numbers” China allegedly has $3 Trillion in liquid paper cash. China could buy all the gold on the planet if they wanted to and have plenty left over. And the alleged amount of Gold hoarded in the USA if sold would be between 300-400 billion.

According to that, it looks like a chump change savings account for the USA. That’s why imo if the US gov’t, really has 8000 tons, they need a much higher gold price to make the “savings account” be meaningful.

After researching I found this below.

That Rickards guy? I don’t think he knows what he’s talking about. He should know all this…………………..

Let’s start with some big, but digestible numbers:

$3,950,000,000,000 = China’s total foreign exchange reserves

$1,250,000,000,000 = Value of the world’s 31,866 metric tonnes gold reserve at $1220/troy ounce

$1,280,000,000,000. = China’s holdings of U.S. Treasuries in its foreign exchange reserves

$ 319,000,000,000. = Value of U.S. 8133 metric tonnes gold reserve at $1220/troy ounce

– China could purchase the total United States gold reserve (8133 metric tonnes) with 8% of its foreign exchange reserves.

– It could purchase the total global gold reserve (31,866 metric tonnes) with 32% of its foreign exchange reserves.

– It could purchase all the gold stored by Exchange Traded Funds (+/- 1750 metric tonnes) with less than 2% of its foreign exchange reserves.
More:
http://www.usagold.com/publications/Oct2014R&O.html

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.