IMF to Dump Gold!

Quote from niceneasy:

i think i read yesterday an nfl team is building a new stadium for 13 billion - the same amount of gold being sold. on a world scale - it just seems like an inconsequential amount.
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Season home opener for the Dallas Cowboys in the new stadium "palace at dallas". Jerry Jones, the owner, spent $1.1 b on it, so I doubt your $13 b is correct. Quite a stadium, record attendance for a NFL game at 105k.
 
IF the chinese are buying it then goldbugs really are fucked.

Not that I'm a great investor, but I think China may be the worst investor EVER.

China adding to long position at 1000 means gold at 600 or lower withing the next year...

lol.
 
Quote from texrex2002:

IF the chinese are buying it then goldbugs really are fucked.

Not that I'm a great investor, but I think China may be the worst investor EVER.

China adding to long position at 1000 means gold at 600 or lower withing the next year...

lol.
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In addition to holding $30 bil in gold bullion, China is also 'long' nearly $2 TRILLION USD. They can't <i>both</i> sink at the same time, you know.
 
Quote from texrex2002:

IF the chinese are buying it then goldbugs really are $$$$$$.

Not that I'm a great investor, but I think China may be the worst investor EVER.

China adding to long position at 1000 means gold at 600 or lower withing the next year...

lol.
More...
Judgments base on emotional prejudice don't make money. Worst investor was variously Japanese, Arabs and now the Chinese. It won't help if I vote the current Champion to be Americans who long politicians and bankers who defaulted wholesale.

Many of the leaders of the current Chinese regime are trained engineers including former president Jiang Zemin who succeeded Deng Xiaoping who encouraged capitalist economics. Their transition towards capitalism was smoother than that of the former Soviet Union which adopted western style democracy. China managed a 1.3 billion population and might have done better overcoming mass poverty than India. Its USD2 trillion reserve is a sign of their success.

So if China supports Gold at USD1000/oz, the rest had better redo their maths.
 
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