In these unprecedented times in the markets I consider gold a “must-own” investment for many reasons, which I’ve mentioned several times here in my blog as well as in my other writings.
But lately, there’s another reason rising to the surface … China is soon going to make some big buys in the gold market.
Take it from me, I’ve met with central bankers, regulators, and gold traders in China and Asia. I know Beijing’s views on the yuan and gold. And all signs point to China gobbling up the precious yellow metal.
To find out why this is one of the chief reasons I am now even more bullish on gold, expecting the price of the precious yellow metal to eventually exceed $2,000 an ounce … and how you can make sure you’re set to profit with all my gold recommendations, click here.
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{ 3 comments… read them below or add one }
I am a little confused about the example of 10 new dollars to equal 1 old dollar. Did you mean to say 1 new dollar = 10 old ones? Taking this further, if there is a 500,000 loan on a home now, that would mean the new loan would be
$5,000,000? Or would you still pay loan off with old dollars? If so, how does that help with all the debts in the system? It seems that it would make owing money worse, not better. Please expand on this for all of us. Thanks in advance for your help,
Larry. You are the only one I have seen that has an intelligent discussion of what is really going on here.
Hi Larry – I am considering a subscription to your service and, perusing your website, saw the following comment. Can you please elaborate on Christina’s question? Thanks, Dave.
“I am a little confused about the example of 10 new dollars to equal 1 old dollar. Did you mean to say 1 new dollar = 10 old ones? Taking this further, if there is a 500,000 loan on a home now, that would mean the new loan would be
$5,000,000? Or would you still pay loan off with old dollars? If so, how does that help with all the debts in the system? It seems that it would make owing money worse, not better. Please expand on this for all of us. Thanks in advance for your help,
Larry. You are the only one I have seen that has an intelligent discussion of what is really going on here.”
Larry Edelson Reply:
February 9th, 2009 at 7:54 pm
It would be the reverse. A $500,000 loan would become equal to a $50,000 debt, in proportion to asset prices. One new dollar would equal 1/10th of an existing dollar.
Hey Larry, It’s almost 10 years later and Christina is still waiting for the decency of an answer. Also you said in Sept /Oct 2008 that China would be big buyers of gold…. not a word from you on that subject since you mentioned it! Have you heard of Alzheimer’s Disease or common decency are they in your lexicon?
Larry Edelson Reply:
February 11th, 2009 at 11:39 am
Kevin, if something fell through the cracks, my apologies. I welcome and encourage reader comments and I make it a point to try and answer each and every one that comes in on my blog. As for China buying gold, my sources indicate they are and have been buying gold. But it’s almost impossible to prove. With China, you will not know until after the fact, that’s for sure.