What do the Chinese know that we don’t?
The People’s Bank of China have been on a gold buying terror. This coupled with purchases by private investors and other Chinese banks should make everyone take a second look.
Could it be that China is positioning their currency, the Renminbi (more commonly called the Yuan), to replace the U.S. Dollar as the world’s reserve currency.
The Chinese say that their actions are a precaution wrought of the termoultuous intertwined world economy.
But these actions, and their recent build up of their military begs the question – Just Why Are the Chinese Buying Record Gold Amounts?
Time will tell.