.."And if you think that the Chinese are bluffing, then it becomes hard to explain why although “China has quietly become the world’s leading gold producer”, it is also a fact that “most of that production never leaves China’s borders, but goes instead to the national reserves as a hedge against its currency holdings.”
This is where it becomes interesting, as “China, by the simple expedient of defending its own interest, accomplishes much for the gold mining industry as a whole. By posing as a gold buyer of last resort, ready, willing and able to scoop up any sizable offer, China may have very well put a floor under the market price”!
"And it is not just gold, as Junior Mogambo Ranger (JMR) James R. sent an article titled “Chinese Strategic Plans; Control of the Supply of Rare Earth Metals” from the Contrarian Investor’s Journal.
The article says, “Rare earths are the 15 elements within the lanthanide series of the periodic table, plus the elements yttrium and scandium. The best known are lanthanum, cerium, neodymium, praseodymium, gadolinium, europium and samarium”, which I gotta tell ya, I never heard of any of them, but they have all kinds of important, specialized, strategic uses and blah, blah, blah, none of which I understand, and I would not be telling you about them now except that I am intrigued by the sentence “China is the largest producer of rare earths. In fact, it is said that China is the Saudi Arabia of rare earths.” Hmmm!"
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