it is a good reminder:
"China is already the world’s top gold producer, but has remained somewhat muted in the global gold market. Now, with the expansion of the Chinese gold market (China approved its first gold mutual fund on Nov. 29), the increasing investment demand from the Chinese government and/or individual investors will become a major force influencing the world's gold market.
Chinese recently announced that they control over 33.89 million ounces of gold for monetary purposes. That’s an increase of 75% in Chinese gold holdings over the past six years.
This kiloton of Chinese gold makes the Middle Kingdom the world’s sixth largest holder of the yellow metal. The U.S. — courtesy of President Roosevelt’s gold confiscation in 1933 – tops this list of the world’s largest gold holders, followed by Germany, the IMF, France and Italy.
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And here’s what REALLY matters. China is monetizing its gold!...
