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Old 08-20-2007, 07:03 AM
boracay boracay is offline
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Join Date: Nov 2005
Posts: 766
Default Re: The Fed\'s Secret Weapon

[ QUOTE ]
Yup,
Coincidentally, China has also made noise about converting a small percentage (10%) of its currency reserve into gold. This would buy up a little more than an entire year's worth of gold production, BTW.

[/ QUOTE ]

in numbers 10% would be over 100 billion US dollars.

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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