Newsweek reports that China is gobbling up gold on the international market. China is already the world’s largest gold producer, but it’s buying more gold hand-over-fist. And it has been doing so every single month for almost a year.
For thirteen years central banks have been socking away gold.
The Financial Times headlines its account of China’s aggressive gold buying this way:
China leads record central bank gold buying in first nine months of year
Central banks in emerging markets look to reduce reliance on US dollar for reserve holdings
Describing China’s appetite for gold as “voracious,” FT reports, “China has stood out as the largest purchaser of gold this year as part of an 11-month buying streak. The People’s Bank of China has reported snapping up 181 tons this year, taking gold holdings to 4 percent of its reserves.”
Are you wondering why China is so serious about gold?
It is because China is preparing for a crisis, a monetary meltdown.
They see more bank and bond market trouble on the horizon, uncontrollable US spending, and unpayable US debt. And maybe even more war. A lot more war.
When it comes to monetary affairs, China knows the Golden Rule: He who has the gold makes the rules!
So, China is aggressively buying more gold to protect itself from both financial and geopolitical risks. Shouldn’t you be doing the same thing?
At Republic Monetary Exchange, we advise our friends and clients to do what people have done for thousands of years, especially when the handwriting is on the wall! Preserve your wealth with gold and silver.
See us today. If you don’t have a gold and silver professional at Republic Monetary Exchange, simply call or stop buying and you will be connected with an experienced consultant who will help you achieve your wealth preservation and profit objectives with precious metals!
Republic Monetary Exchange— stop by on Camelback, just east of 40th Street. Or call 602-955-6500 Monday-Friday anytime between 9 am-5 pm!