Does China Want a Lower Gold Price?
This massive sum is no guarantee against a China market crash. Pettit goes on to point out that China’s huge reserves amount to “5-6% of global domestic product.” This is the same rough percentage as the total central bank reserves accumulated by the United States in the 1920s. … Given the intimate knowledge of its own long-run plans, China likely wants to exchange dollars for gold at the most favorable price possible – which, here and now, means a lower gold price. …
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Tags: 1920s, central-bank, china, global-domestic, gold-price, likely-wants, massive, most, same, the-intimate, the-total, total, united, united-states
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