is there any substance in this .... , page-5

Hey vdub

be good if it were true but he is most likely taking the ..mickey (almost forgot you wear a badge). BTW here is a link to the article:

http://www.dailyreckoning.com/Writers/Mogambo/DREssays/MG092908.html

Realistically it is much more likely that the Chinese will try to rebalance their reserves, as currently they are far too heavily weighted in USD and very light on for gold. They hold only 1% of their reserves in the shape of gold and if they bring that up to an average level (which from memory is about 10%) then they will take up much of the gold the European governments are looking to offload and then plenty more still. However now that they are the largest producer of gold they may take a similar attitude to what we in Australia take (which is there is no point in both producing and buying gold).