Any Way It Wishes

clipped from financialsense.com Inside sourceshave recently confirmed the Chinese government is actively promoting gold and silver investment to the masses. Some analysts now contend that China can no longer afford to let the gold or silver price slump. The rationale behind that contention is that with the Chinese government now telling the general populace to buy precious metals, it would be highly problematic should gold and silver subsequently take a nose dive. Namely, at $1,000 an ounce, the total value of all the gold ever mined comes to about $5 trillion. Of that amount, less than $1 trillion is held in official reserves, the rest under mattresses, in jewelry and family heirlooms, and in various ETFs – GLD being the biggest, by far, holding about $34 billion worth of gold. Against these totals, China has foreign reserves in excess of $2 trillion. In other words, more than enough to push the tiny gold market around in any way it wishes.