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Autor Tema: China establece récord de importación de oro  (Leído 3252 veces)

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China establece récord de importación de oro
« en: Noviembre 07, 2011, 20:24:37 pm »
De Zero Hedge:

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China Takes Advantage Of September Price Drop; Imports Record Amount Of Gold

Remember how virtually all "experts" speculated that the drop in the price of gold would set off a liquidation cascade in China, where everyone was "loaded to the gills" and at the first hint of deflation would dump all holdings (not to mention that economic Ph.D. proclaimed the gold "bubble" popped two months and $200 lower)? It seems that as so often happens when all experts agree on something, it is precisely the opposite that happens. The FT reports that "Chinese gold imports from Hong Kong, a proxy for the country’s overall overseas buying, leapt to a record high in September, when monthly purchases matched almost half that for the whole of 2010....After hitting a nominal all-time high of $1,920.30 a troy ounce in early September, the yellow metal fell to a three-month low of $1,534 an ounce later in the month. Chinese investors snapped up the metal as prices fell." Fair enough: this means the natural bid under gold will pretty much always be there, especially since the SHCOMP plunged at the same time, and if there was truly cross asset liquidation, imports would hardly rise. Which begs the question: if not China, then who sold? Was the move purely a function of fears that Paulson was liquidating? Or were rumors that various central banks are liquidating gold, actually true? We will likely find out when the next WGC report is filed. WE will also know that the Chinese number for total gold holdings is grossly underreported.

More from the FT:

    Analysts expect the September import surge to continue until the end of the year as Chinese gold buyers snap up the yellow metal in advance of Chinese New Year, China’s key gold-buying period.

     
    “In September we saw some bargain hunters come back into the market on the price dip,” said Janet Kong, managing director of research for CICC, the Chinese investment bank.

     
    Data from the Hong Kong government showed that China imported a record 56.9 tonnes in September, a sixfold increase from 2010. Monthly gold imports for most of 2010 and this year run at about 10 tonnes, but buying jumped in July, August and September. In the three-month period, China imported from Hong Kong about 140 tonnes, more than the roughly 120 tonnes for the whole 2010.

And before the experts congregate and conclude that this time China will certainly start dumping gold, this time for realz, read this:

    The last two months of this year are likely to see China’s gold imports surge further ahead of Chinese New Year, supporting gold prices, according to Ms Kong. “We’ve noted a quite strong seasonality in gold prices, typically prices go up in the months before the Chinese New Year.”

So in addition to being a comfort to gold bulls, does this report also undermine all goalseeked reported from China that inflation in the country is moderating? Because if anyone knows best, it surely is the locals.


China ha aprovechado la corrección en la cotización del oro durante septiembre para aumentar sus importaciones de oro hasta alcanzar un nuevo récord (56,9 toneladas para dicho mes, récord mensual).

Enlace:

China Takes Advantage Of September Price Drop; Imports Record Amount Of Gold | ZeroHedge
"Ni el interés ni el miedo, el rencor ni la afición, no les haga torcer del camino de la verdad, cuya madre es la historia, émula del tiempo, depósito de las acciones, testigo de lo pasado, ejemplo y aviso de lo presente, advertencia de lo porvenir".

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Re:China establece récord de importación de oro
« Respuesta #1 en: Noviembre 09, 2011, 21:31:10 pm »
...Es lo que deberia hacer Europa,hacer que el euro estuviese respaldado por el oro,en estos dificiles momentos,no en deuda

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Re:China establece récord de importación de oro
« Respuesta #2 en: Noviembre 15, 2011, 23:46:41 pm »
Y determinados países europeos lo hacen, como Alemania.

El oro alemán no respaldará el Fondo Europeo de Estabilidad Financiera | Oro y Finanzas
Además tienen muy claro que es exclusivamente su oro

o Suiza:

Referéndum en Suiza para proteger las reservas de oro | Oro y Finanzas

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Re:China establece récord de importación de oro
« Respuesta #3 en: Noviembre 17, 2011, 17:28:46 pm »
La demanda mundial de oro se incrementó un  6% el último trimestre, según el Consejo Mundial del Oro:

Citar
Third quarter gold demand increased 6% year-on-year to 1,053.9 tonnes, worth a record US$57.7bn. A strong rise in investment demand drove the growth in overall demand, as investors across the globe sought wealth preservation, portfolio diversification and strong returns. Mine supply increased slightly, with mine production and recycling activity both contributing to the rise.


La demanda mundial de oro se incrementó un  6% el último trimestre, debido a la búsqueda de seguridad por parte de los inversores de todo el mundo, aunque particularmente los países asiáticos y, curiosamente, los bancos centrales mundiales.   :o

Adjunto enlace al informe completo, muy interesante para los inversores en metales preciosos:

http://worldgoldcouncil.newsweaver.co.uk/IRMGDT/iimvwhqsrg9z273u61wtd3

(formato acrobat reader - pdf).
"Ni el interés ni el miedo, el rencor ni la afición, no les haga torcer del camino de la verdad, cuya madre es la historia, émula del tiempo, depósito de las acciones, testigo de lo pasado, ejemplo y aviso de lo presente, advertencia de lo porvenir".

Miguel de Cervantes Saavedra (1547-1616).

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Re:China establece récord de importación de oro
« Respuesta #4 en: Noviembre 17, 2011, 17:55:20 pm »
Personalmente me preocuparía más (como país) de tener forma de controlar el acceso a la energía, que es en realidad quien manda. Incluso si se pagase con oro, será el poseedor de la misma quien se acabe haciendo con él, o eso o le roban. Si no que se lo pregunten a Gadafi.

De momento no invaden por el oro, sino por la energía. Cortar el suministro a un país civilizado es literalmente matarlo.

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El Banco Central de Corea aumenta sus reservas de oro un !39 por ciento¡
« Respuesta #5 en: Diciembre 02, 2011, 16:45:22 pm »
Artículo de Zero Hedge:

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Bank of Korea Increases Gold Reserves by Massive Nearly $1 Billion or 39% in November Alone

Gold is trading at USD 1,752.90, EUR 1,298.30, GBP 1,116.10, CHF 1,604, JPY 136,700 and AUD 1,706.4 per ounce.
Gold’s London AM fix this morning was USD 1,751.00, GBP 1,116.50, and EUR 1,298.29 per ounce.
Yesterday's AM fix was USD 1,750.00, GBP 1,113.02, and EUR 1,298.03 per ounce.

Cross Currency Rates

Gold is marginally higher in most currencies and is headed for its biggest weekly advance in six weeks after also seeing a gain of 1.8% in November. Gold’s technical picture has become positive again and is now aligned with the very positive fundamental backdrop.

The Bank of Korea’s continued diversification of its foreign exchange reserves is a bullish factor which may have led to the price gains today.

The central bank of South Korea announced that it had purchased 15 metric tonnes of gold in November to raise its reserve of bullion in an effort to diversify its portfolio of its foreign reserve investment and reduce risks caused by market volatilities.

According to the Bank of Korea (BOK), it made a purchase of 15 tons of gold last month to increase the nation’s gold reserves to 54.4 tons worth $2.17 billion as of the end of November.

It boosted the size of its gold reserves by US$850mn in November, up a massive 39% from the previous month. Its total gold reserves are now worth US$2.17bn.

 

The purchase was the central bank’s second acquisition of gold this year. It bought 25 tons of bullion in June and July for the first time in 13 years.

Thanks to the buying, the gold reserves of Asia’s fourth-largest economy jumped by three notches to 43rd in the rankings of the World Gold Council.

Based on the October reading, Korea is the eighth-largest holder of foreign exchange the world behind China, Japan, Russia, Taiwan, Brazil, Switzerland and India.

The Bank of Korea said its gold holdings account for just 1% of its foreign-exchange reserves.

“The BOK purchased gold last month in a bid to diversify its portfolio of foreign exchange reserves,” Lee Jung, head of the investment strategy team at the BOK’s Reserve Management Group, told reporters.

"Demand for gold is increasing as a hedge against global inflation amid the persistent sovereign-debt crisis in Europe," Lee was quoted as saying.

"The gold purchase will help us cope with volatile global financial markets and enhance investor confidence in Korea in times of crises."

 

The move comes as other central banks across the world are again diversifying into gold amid the worsening financial turmoil in the eurozone. The European sovereign debt crisis is lurching towards contagion and showing signs of spreading to France and Germany, the top two strongest economies in the region.

Mexico has bought 98 tons of gold this year, followed by Russia and Thailand, which purchased 63 tons and 53 tons, respectively, with the total official acquisition of gold reaching around 350 tons.

South Korea’s foreign exchange reserves stood at $308.63 billion at the end of November, down $2.35 billion from the previous month, as the euro, pound, yen and dollar all fell in value versus gold.

Foreign reserves consist of securities and deposits denominated in overseas currencies, along with IMF reserve positions, special drawing rights and gold bullion.

It is the second time Korea has bought gold to diversify its foreign exchange reserves this year. It purchased 25 tons of gold between June and July -- its first purchase since the 1997-98 Asian financial crisis.

No details were given as to from where the sizeable tonnage of gold was bought in November – whether it be inter central bank or from refiners or bullion banks. Nor was information forthcoming as to whether the Bank of Korea is storing their gold reserves in the central bank in Seoul.

Asian governments have become increasingly concerned about the problems in the West, with European leaders struggling under the weight of a crippling sovereign debt crisis that threatens the end of the eurozone and the euro.

The United States has a debt crisis of its own with politicians unable to agree a plan to bring down the country's titanic deficit, which sits at more than $15 trillion and increased another $160 billion in the last two weeks alone.

The ongoing woes have led to forecasts of further gold purchases, especially from Asia.

Gold is becoming increasingly attractive to central banks worldwide due to the global financial crisis and concerns for the outlook for the global reserve currency, the dollar and the euro and all fiat currencies.

European central banks have stopped selling gold. China, which has the world's biggest foreign-currency reserves, has been increasing its gold holdings mainly through domestic producers.

As we have been saying for some time, gold makes up a miniscule 1.6% of China’s foreign exchange reserves. People’s Bank of China buying alone could support gold prices in the coming months and years.

The world average for central-bank gold holdings as a share of foreign-currency reserves is has increased marginally to 11%. The U.S., still the world’s largest gold holder of gold bullion, bullion makes up 74% of foreign exchange reserves.

The fundamentals for gold remain very bullish and yet gold remains largely taboo in the non specialist financial media. The fundamentals and the facts of the gold market remain unknown by the majority of the market which is bullish.

Total above ground stocks of refined gold bullion remain tiny vis-à-vis stock, bond, foreign exchange and derivative markets.

Even a small shift in allocations from these markets and into physical bullion has the potential to lead to much higher prices.


Dice que el Banco Central de Corea ha aumentado  sus reservas de oro un 39 por ciento en Noviembre.

Enlace:

http://www.zerohedge.com/news/bank-korea-increases-gold-reserves-massive-nearly-1-billion-or-39-november-alone
"Ni el interés ni el miedo, el rencor ni la afición, no les haga torcer del camino de la verdad, cuya madre es la historia, émula del tiempo, depósito de las acciones, testigo de lo pasado, ejemplo y aviso de lo presente, advertencia de lo porvenir".

Miguel de Cervantes Saavedra (1547-1616).

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Re:China establece récord de importación de oro
« Respuesta #6 en: Diciembre 21, 2011, 14:28:01 pm »
Hay colgado en burbuja un articulillo interesante que dice que estas compras no se estarían haciendo a los bancos de bullion, sino directamente a los productores mineros. A ver si lo busco y lo enlazo o algo.

Las repercusiones que plantea son muy importantes porque dice que el papel-oro se está estrangulando y puede reventar en cualquier momento.
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Re:China establece récord de importación de oro
« Respuesta #7 en: Diciembre 21, 2011, 19:35:14 pm »
ironic on... mira que si los todo a 100 se convierten en complo olo ... ironic off

Ahora en serio, parece que China se da cuenta que lo que valen no son los papelitos verdes del tio Sam... y eso que tienen un montón

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China bate su récord de importación de oro de Hong Kong
« Respuesta #8 en: Enero 11, 2012, 16:54:28 pm »
De Zero Hedge:

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China's Gold Imports From Hong Kong Surge to Highest Ever? - PBOC Buying?

Submitted by Tyler Durden on 01/11/2012 08:39 -0500

Submitted by GoldCore

China's Gold Imports From Hong Kong Surge to Highest Ever‎ - PBOC Buying?

Gold’s London AM fix this morning was USD 1,641.00, GBP 1,063.51, and EUR 1,286.25 per ounce.

Yesterday's AM fix was USD 1,627.00, GBP 1,051.91, and EUR 1,271.49 per ounce.

Demand for gold bullion in China continues to surge.

Mainland China's imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October. This is a 20% increase from the already high number seen in October and a 483% y/y increase.



The run into Chinese Lunar New Year has again seen higher than expected Chinese demand for gold and China's voracious appetite for gold is surprising even analysts who are positive about gold.

As Chinese people's disposable incomes gain and concerns grow over inflation and equity and property markets, Chinese consumers and investors are turning to gold as a long term investment hedge.

There is informed speculation that commercial Chinese banks may have taken advantage of the recent price dip to build stocks of coins and bars and accumulate bullion.

China's demand for physical gold bullion has rocketed past India with the country now overtaking India in the third quarter as the largest gold jewellery market according to the World Gold Council.

There is also informed speculation that some of the buying was from the People's Bank of China with one analyst telling Bloomberg that “there is always the possibility that some purchases were made by the central bank.”

As we've stated in the past, the PBOC is gradually diversifying their huge FX reserves and likely will announce upward revision of total gold reserves again in the coming months. Whether official buying is responsible for the huge surge in gold imports from Hong Kong is more difficult to ascertain The Chinese Central Bank does not release their figures on gold purchases.

As of June, 30, 2009, they held 33.59 million ounces or 1,054 tons. This is the 5th largest holding by country but some officials are on record with regard to Chinese aspirations to hold as much gold as the Federal Reserve's 8,100 tonnes of gold reserves.

What is particularly bullish about the import data is that there is a ban on exporting gold from China so gold bullion is in strong hands in China.

Platinum group metals rose a third straight day due to concerns on supply disruption in South Africa, as the national grid warned about extremely tight power supply in January.  The gold-platinum spread narrowed to just below $165 an ounce, its smallest in two weeks. The price of platinum has been lower than that of gold since September 2011, as gloomy economic outlook dampened sentiment on platinum, while gold's safe-haven appeal helped limit its price decline.


Gold Spot $/oz - 5 Days

Finally, markets were looking forward to a meeting between German Chancellor Angela Merkel and Italian Prime Minister Mario Monti later in the day in Berlin, while IMF's Christine Lagarde, is to meet French President Nicolas Sarkozy in Paris. Markets are also watching Spain and Italy’s plan to sell as much as EUR17 billion in debt on Thursday and Friday respectively.

The continuation of the eurozone crisis and risk of global financial contagion will continue to support gold's safe haven status.


Las importaciones chinas  de oro desde Hong Kong suben a 102,779kg, un 20% más que en octubre.

Enlace:

http://www.zerohedge.com/news/chinas-gold-imports-hong-kong-surge-highest-ever%3F-pboc-buying
"Ni el interés ni el miedo, el rencor ni la afición, no les haga torcer del camino de la verdad, cuya madre es la historia, émula del tiempo, depósito de las acciones, testigo de lo pasado, ejemplo y aviso de lo presente, advertencia de lo porvenir".

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Re:China establece récord de importación de oro
« Respuesta #9 en: Enero 13, 2012, 00:24:30 am »
Mi pregunta es. ¿coreanos y chinos compran ese oro con dólares? ¿el ultimo empujon al dolar hacia el guano?

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Re:China establece récord de importación de oro
« Respuesta #10 en: Enero 13, 2012, 14:53:19 pm »
Mi pregunta es. ¿coreanos y chinos compran ese oro con dólares? ¿el ultimo empujon al dolar hacia el guano?
A la primera pregunta: forozosamente, no tienen más remedio (por ahora).

A la segunda pregunta: ni idea.
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Re:China establece récord de importación de oro
« Respuesta #11 en: Marzo 18, 2012, 20:57:38 pm »
Los bancos centrales siguen comprando oro a manos llenas:

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As Retail Sells, Central Banks Wave Gold In With Both Hands

As recent entrants in the gold market watched paralyzed in fear as gold tumbled by over $100 on the last FOMC day, on the idiotic notion that Ben Bernanke will no longer ease (oh we will, only after Iran is glassified, and not before Obama is confident he has the election down pat), resulting in pervasive sell stop orders getting hit, others were buying. Which others? The same ones whose only response to a downtick in the market is to proceed with more CTRL+P: the central banks. FT reports that the recent drop in gold has triggered large purchases of bullion by central banks in recent weeks. "The buying activity highlights the trend among central banks in emerging economies to buy gold, even as some western investors are losing patience with the metal. Gold prices have dropped 13.8 per cent from a nominal record high of $1,920 a troy ounce reached in September, and on Friday were trading at $1,655.60." Well, as we said a few days ago, "In conclusion we wish to say - thank you Chairman for the firesale in physical precious metals. We, and certainly China, thank you from the bottom of our hearts." Once again, we were more or less correct. And since past is prologue, we now expect any day to see a headline from the PBOC informing the world that the bank has quietly added a few hundred tons of the yellow metal since the last such public announcement in 2009: a catalyst which will quickly send it over recent record highs.

More on what was perfectly obvious to most except the propaganda pushers:

    The Bank for International Settlements, which acts on behalf of central banks, has been buying significant quantities of gold on the international market amid falling prices, traders said.

     According to several estimates, the BIS bought 4-6 tonnes of gold, worth roughly $250m-$300m at current prices, in the over-the-counter physical market last week, with purchases particularly strong at the end of the week. The total purchases over the past three or four weeks were likely to be as much as double that, the traders added.

     

    In a note to clients this week, Credit Suisse referred to “aggressive central bank buying seen last Friday”.

Of course, central banks are well aware what they are doing. In fact, they have been buying up gold pretty much non-stop in the past few years.

    As a group, they made their largest purchases of gold in more than four decades last year, led by emerging economies such as Mexico, Russia and South Korea intent on diversifying their dollar-heavy foreign exchange reserves. The World Gold Council has also pointed to the possibility of significant unreported purchases by China at the end of last year.

     

    At the same time, European central banks have all but halted a run of large sales.

     

    “Central banks have definitely been looking at gold as an asset class much more closely ever since European central banks stopped selling,” a senior gold banker said. “There has been a huge interest."

     

    While some countries, such as Russia, China or the Philippines, have traditionally accumulated gold produced by their domestic mining industry, others use the BIS as an agent to carry out purchases and sales on their behalf, preserving anonymity.

     

    The central bank buying comes as gold prices have slid in the past three weeks as strong economic data from the US has lowered investors’ expectations of quantitative easing by the Federal Reserve and made other investments, such as equities, appear more attractive.

The irony is that as has been pointed out repeatedly, gold will ultimately do well both in extreme deflation and inflation cases. And anyone who believes the Fed has the situation balanced properly, even as the global liquidity providing machine swings to ever greater exponential extremes, well, they likely also believed Bernanke when he told Maria Bartiromo that a home price decline is a "pretty unlikely possibility... we have never had a decline of house prices on a nationwide basis." And if it wasn't for Bernanke's endless bailouts, they would all be broke now.


http://www.zerohedge.com/news/retail-sells-central-banks-wave-gold-both-hands
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Re:China establece récord de importación de oro
« Respuesta #12 en: Abril 14, 2012, 13:01:18 pm »
El Plan Maestro de China para sustituir al dólar como moneda de referencia:

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Why (and How) China is Boosting the Price of Gold
Published March 12, 2012 | By Tim McMahon

The History of Gold (and How We Got Here)

To get the full picture of the current price of gold we have to look back nearly 100 years. In the 1800′s and early 1900′s gold played a key role in international monetary transactions. The gold standard was used to back currencies. Each country determined a fixed exchange rates for its currency, i.e. how many ounces of gold each unit of currency was worth.

Trade imbalances (importing more than they exported or vice versa) could rectified via the exchange of gold reserves. A country with a deficit would have to ship gold to the country with an excess. Any country experiencing inflation would lose gold and therefore would have a decrease in the amount of money available to spend.

However, during WWI and WWII economic warfare was employed in an effort to combat poverty in ones own country by employing a policy called “Beggar Thy Neighbor”. This involved shifting demand away from imports onto domestically produced goods, either through government policy, rather than free markets. The primary vehicles were tariffs (or import taxes), import quotas, or by devaluation of the currency (i.e. changing it’s value in relation to gold). For example, During the 1930s, the British created their own economic bloc to shut out U.S. goods because they felt they couldn’t compete with cheap U.S. goods.

In July 1944, towards the end of the war 730 delegates from all 44 Allied nations gathered in Bretton Woods, New Hampshire. During this conference the U.S. held most of the cards because it was the least financially damaged by the War. The original plan presented by John Maynard Keynes was to establish a world-wide currency called the “Bancor”. Each nation’s individual currency would be pegged to the Bancor (rather than Gold) at a fixed rate. Governments would then be required to buy or sell Bancors in order to maintain the value of their currency at the pegged rate.

However, at Bretton Woods…

During World War II, European nations were highly in debt and had transferred large amounts of gold into the United States both for safe keeping and in payment of debts. In addition, the two wars had devastated Brittain and it was requesting aid from the U.S. So when the United States signed an agreement on December 6, 1945 to grant Britain aid of $4.4 billion the British Parliament finally agreed to ratify the Bretton Woods Agreement.

French President Charles de Gaulle, bitterly fought U.S. officials but in 1945 de Gaulle was forced to grudgingly ask the U.S. for a billion-dollar loan. And thus he too agreed to the Bretton Woods Agreement. This meant that other countries would peg their currencies to the U.S. dollar, and would buy and sell U.S. dollars to keep market exchange rates within plus or minus 1% of parity. Thus, the U.S. dollar took over the role that gold had played under the gold standard in the international financial system. In order to bolster the other country’s faith in the dollar, the U.S. agreed to link the dollar to gold at the rate of $35 per ounce of gold. So, theoretically, foreign governments could still exchange dollars for gold. For instance, if France had a trade surplus with England, England would pay France in Dollars and then France could exchange them for Gold.

But this gave the U.S. an ability that no other country had, i.e. the ability to inflate their currency. The U.S. inflated their dollars and because of the peg to the dollar basically the other countries got the inflation. Obviously, the other countries didn’t appreciate this. By 1965 this became apparent as the free market value of gold was worth more than $35 an ounce. So De Gaulle decided to take his surplus out of the U.S. and made a profit at the same time. He basically bought $150 million worth of Gold from the U.S. Government at the fixed price of $35 an ounce and took it home to France. By 1969 it was worth $39 an ounce on the free market.

By 1971, the U.S could no longer maintain the illusion that gold was still worth $35/oz and could no longer afford to keep selling it at below market prices, so Nixon was forced to “close the Gold Window” and terminated our agreement to sell gold at the fixed price. Not long afterwards fixed pegs to the dollar were also abolished and currencies began to “float” against each other once again.

This should have been the end of the Dollar’s reign but Nixon had one more ace up his sleeve. In the early seventies the US still was basically oil independent, i.e. it produced enough oil for its own consumption. In an effort to protect U.S. oil companies against foreign competition, it created imports restrictions. So, in exchange for the lift of import restrictions, the OPEC countries promised they would only accept dollars for their oil. This gave the dollar back the control it lost when it gave up gold convertibility.

Basically every country that imported oil had to have dollars to buy it. This artificially increased demand for dollars and once again put the U.S. in an enviable position.
Along Comes China

In 1978, China began exporting more than it imported (i.e. it had a trade surplus). This started slowly but has grown exponentially. By 1980 China’s foreign currency reserves stood at approximately $2.5 billion. Being a “Communist” country with a “command economy” rather than a free market, China was able to create a unique environment. The Chinese currency (called either the ‘yuan’ or the ‘renminbi’) does float freely on the open market. The government sets a fixed exchange rate (similar to Bretton Woods) .  So when a business earns dollars by selling overseas, it has no choice but to hand that money over to the People’s Bank of China (or PBOC, the country’s central bank), in exchange for local currency. And so the PBOC began accumulating more and more foreign reserves.

China's Foreign Reserves

 

 

Thus the PBOC makes a profit on the exchange rate and collects valuable foreign currency in exchange for worthless local currency. At least that is the way it started. But recently, as the dollar has inflated… the dollar has become worth less… while the Yuan has become theoretically more valuable (except for the ‘peg”).

So now the Chinese are stuck with depreciating currency that they can’t dump (or else the value would be driven down on the remainder of their holdings). So they’ve been looking for options. Initially they bought U.S. Treasuries and at least earned interest on their money. But the FED has driven interest rates to near zero. So the Chinese diversified into the stock market buying things like the Blackstone Group (an investment firm) and Morgan Stanley.  But we know what happened to the financials in 2008. So like everyone else, the Chinese got burned big time by the U.S. equities markets.

But they still need somehow to diversify their assets and reduce their currency risk. And where to park all those Dollars? So they started buying up gold and gold resource companies. They began buying gold in the early 2000′s.  Up until this point most governments had been net sellers of gold in an effort to keep the price low and discredit it, so that they could keep up the demand for their currencies. But China realized that eventually paper currency would become worthless and Gold would always be valuable so they slowly began accumulating. Thus the beginning of Gold’s dramatic rise.

By 2011, China had become the world’s biggest buyer of gold. Overtaking even India.  Historically, India has always been the world’s leading gold buyer. In India, people traditionally save and display their wealth in gold… wearing it around their necks rather than trusting banks.

In addition to being the biggest importer of gold it is also the biggest producer of gold. Yes, they produce more gold than Australia or South Africa or Canada etc. But they don’t export it! China actually produces more than 300 tons of gold a year–that’s almost 50% more gold than Australia, the world’s 2nd largest producer.
So where is all that gold going?

According to Richard Russell creator of “The Dow Theory”

    “China wants the renminbi to be backed with a huge percentage of gold, thereby making the renminbi the world’s best and most trusted currency.”

So it is stockpiling all the gold produced within China and even buying more on the open market. In addition, it is encouraging its citizens to buy even more gold.  In 2002, China lifted its ban on individual ownership of Gold, twenty-eight years after restrictions on holding private gold within the United States were removed. Then, in September 2009, China began to actively promote gold ownership to its citizens.  The government actually started a major campaign to encourage all citizens to buy gold making it available at  any Chinese bank in the country and at government “gold stores” which look a lot like jewelry stores but inside the cases, instead of jewelry, are various sizes of .9999 pure gold bars.
Why would the Chinese government actually encourage its citizens to buy gold?

    They are planning on confiscating it at some time in the future like they (and the U.S.) have in the past…                                  or more likely
    They are preparing their citizens for a major shift in the world economy.

China has announced plans to open something called the Pan Asia Gold Exchange (PAGE), In June of 2012. This is designed to be a direct competitor to COMEX in New York and the London Metals Exchange in the U.K. and they promised that it would “level the playing fieldand allow for a fair global price discovery of precious metals.” But according to SGT Report, it “posed an enormous threa t to the existing fractional reserve bullion banks.” And has been derailed. But that won’t stop China and there is another “fully regulated” exchange in the works.

China has also recently inked agreements with Iran to bypass the U.S. Dollar and trade Gold for Oil.
Will China “Corner” the World Market in Gold?

Many experts believe that China wants to establish a world-class currency, being the only one capable of being backed by gold. In this way they could supplant the U.S. just as we did to Great Brittain with the Bretton Woods agreement. This would give them tremendous economic leverage just as we had in 1944. In addition, to piling up government reserves, putting the massive population to work buying Gold reserves, producing gold from Chinese gold mines, and opening the Pan Asia Gold Exchange, China has also embarked on an ambitious accumulation program, buying world class gold mining companies outside of China.

They have bought significant portions of:

    Anglogold Ashanti with mines in South Africa, Brazil, Tanzania, Ghana, Guinea and Australia : 100,000 shares
    Goldfields Ltd with mines in Australia, Ghana, Peru and South Africa: 350,000 shares
    Kinross Gold Corp. with mines in the U.S., Russia, Mauritania, and Ghana: 250,000 shares
    Teck Resources: Canada, Mexico and Peru 101 million shares (17% ownership)
    China also holds US$145 million or 155,600 shares of gold-backed ETF SPDR Gold Trust shares.

So it appears that China is getting serious about Gold and so previous spikes in the price of gold (See: Inflation Adjusted Gold Prices) may not be comparable when it comes to estimating how high Gold will go this time around. But China isn’t stupid and so it is probably timing its purchases and perhaps even selling at some points to mask its accumulation in an effort to get the best prices and not drive up the market as it continues to increase its holdings.
What Can We Do?

The question is how do we protect ourselves? What would happen if the U.S. dollar is no longer the preferred Oil currency? What if the Yuan or “Renminbi” becomes the reserve currency of the world?

None of this will happen overnight. The one advantage the Chinese have is that they take the long view. They don’t have to worry about 4 year presidential terms, or annual reports. Instead they think in terms of decades (or longer).

I think at this point the best way to play it is right alongside the Chinese. Accumulate Gold and Gold mining stocks, and ETF SPDR Gold Trust shares for the long term. In the long run they will retain their value and appreciate due to increased Chinese demand.


Básicamente, quieren respaldar el Yuan con oro para que se convierta en la moneda de referencia internacional, desplazando al dólar estadounidense.

http://inflationdata.com/articles/2012/03/12/china-boosting-gold-price/
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Miguel de Cervantes Saavedra (1547-1616).

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Re:China establece récord de importación de oro
« Respuesta #13 en: Abril 14, 2012, 13:14:57 pm »
El Plan Maestro de China para sustituir al dólar como moneda de referencia:

Básicamente, quieren respaldar el Yuan con oro para que se convierta en la moneda de referencia internacional, desplazando al dólar estadounidense.

http://inflationdata.com/articles/2012/03/12/china-boosting-gold-price/


China sabe que va a necesitar comprar mucho petroleo, cada vez más, en los próximos años y va a tener que competir con EE.UU. por ese recurso.

http://economictimes.indiatimes.com/news/international-business/china-to-surpass-us-as-worlds-biggest-oil-importer-goldman-sachs/articleshow/11427533.cms

http://www.ibtimes.com/articles/259625/20111201/european-crisis-oil-soar-2012-goldman-sachs.htm

http://www.transicionestructural.com/transicion-estructural/rescate-de-espana-la-travesia-del-desierto-ha-comenzado-%28ii%29/msg24641/#msg24641

Cuando China empiece a soltar reservas de dólares esa moneda se va a devaluar (o lo que es lo mismo, el petroleo se va a encarecer): lo único que sostiene al dólar es el monopolio para comprar petróleo (la "sangre del sistema"), monopolio respaldado por la fuerza de las armas por parte de EE.UU. ... cuando el dólar se devalúe (= el precio barril/dólar aumenta) habrá quien prefiera recibir el pago en oro. ¿creeis que EE.UU. se quedará quietecito? las guerras de Afganistan, Irak, y todos los movimientos militares de EE.UU. en la región responden a la estrategia de EE.UU. de entorpecer el acceso a China a esos recursos naturales. Esto va a acabar a hostias y si no, al tiempo...

 


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