China is the #1 producer of gold and has recently become the #1 importer of gold. They have also encouraged their own citizens to buy both gold and silver.
Though it is speculative, we believe that China is indeed preparing for the future, either to have the first gold backed currency or to follow up with a gold back currency after Russia, the U.S., or another major nation announces one.
Recently it was reported that a Chinese Diplomat told Stephen Leeb that China is accumulating gold to back the Yuan, so this is certainly being talked about in some very high circles of influence.
If China Yuan be backed by a Gold Standard - HOW HIGH WILL GOLD PRICE FLY ? -
THE HISTORY OF LAWFUL GOLD AND SILVER LEGAL TENDER AND THE DEBT BROUGHT ON BY UNLAWFUL FIAT PAPER MONEY -
Caledonia “Cash costs at the mine are running at around $500/oz, which positions the company well to keep generating cash to self-fund expansion and pay dividends to shareholders.
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