Very interesting with a new partner being from China ...before...

Very interesting with a new partner being from China ...before the mods decide to take this off thinking it has nothing to do with GDO

Here's why precious metals are going higher. Bloomberg talks to an analyst who says China may buy as much as $1 trillion in gold, as the dollar crumples into a pitiful heap on the floor. Bloomberg:

China?s Gold Reserves

China, which has just 1.6 percent of its reserves in gold, may invest more than $1 trillion in bullion, [Michael Pento of Euro Pacific Capital] said. ?China wants to be an international player, and they need to own more gold than they currently have.?

...?China is out to have more gold than America, and Russia is aspiring to the same,? [Robert] McEwen, [the chief executive officer of producer U.S. Gold Corp] said yesterday in an interview in New York. ?When you have debt, you don?t have a lot of flexibility. China wants to show its currency has more backing than the U.S.?

http://www.wealthwire.com/news/headlines/1090