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Buying Gold: Why Are The Chinese Gobbling Up Gold Like There Is No Tomorrow?

Why are the Chinese buying so much gold?  In 2010 it has been demand out of China that has been one of the primary factors for the dramatic rise in the price of gold.  Gold is up approximately 26 percent this year, and most analysts expect it to go even higher in 2011.  So is China buying gold at a breathtaking pace because they view it as a good investment, or are there other factors at work here?  Do the Chinese view gold as a hedge against inflation?  Is China seeking to get out of U.S. Treasuries?  Has gold simply become much more attractive than paper currencies such as the euro and the U.S. dollar?  Or could China be preparing for the coming financial collapse that so many economists see coming?  It is always difficult to tell exactly what China is up to, but one thing is for sure – they are buying gold like there is no tomorrow.

It recently was announced that China imported 209.7 metric tons of gold during the first ten months of 2010.  That was five times more gold than China imported during the first ten months of 2009.

So what can account for such a dramatic increase?

Does China need all of that gold for domestic use?

Without a doubt gold is becoming much more popular in China, but it is not as if China does not produce a massive amount of gold on their own.  In fact, since 2007 China has been the number one producer of gold in the entire world.  They are certainly not suffering from a shortage of gold.

If that is the case, then what else could explain why China is buying gold so rapidly?

Well, there seem to be four primary theories for why China is buying up so much gold right now.

#1 A Hedge Against Inflation

Already we are starting to see some very serious inflation in China.  In particular, food inflation threatens to spiral out of control.  In an inflationary environment, gold is always a good investment.

#2 An Alternative To U.S. Treasuries

Over the past decade, China has invested very, very heavily in U.S. Treasuries.  In fact, the U.S. government owes China nearly a trillion dollars at this point.  However, over the last year or two China has dramatically slowed down their purchases of U.S. Treasuries and they have been actively seeking out alternative investments.  Gold has always been a very safe investment, and with the world financial system so unstable right now it makes a lot of sense to invest in gold.

#3 A Lack Of Faith In Paper Currencies

Over the past decade, China has accumulated a gigantic pile of foreign exchange reserves, but lately paper currencies such as the euro and the U.S. dollar have become increasingly unstable.  The European sovereign debt crisis threatens to collapse the euro at any moment.  Quantitative easing 2 and the tax cut deal that Barack Obama and the Republicans are trying to push through Congress are causing the rest of the globe to lose a tremendous amount of faith in the U.S. dollar.  In this type of environment, holding paper currencies has become much less attractive.

#4 Preparing For The Coming Financial Collapse

It doesn’t take a genius to figure out that we are living in the greatest debt bubble in the history of the world and that at some point the world financial system is going to crash.  When that happens, the safest place to be will be in precious metals and other commodities.  The Chinese have been busy gobbling up gold, silver and many other commodities, and so whether they mean to or not, they are positioning themselves to weather the coming financial storm better than most other nations.

Once again, it is always hard to tell exactly what China is doing.  Perhaps in six months or a year China will change course again.  But right now China is gobbling up huge amounts of gold, and if this continues it is going to create a huge imbalance in global financial markets.

In fact, if all of this Chinese gold buying goes on long enough, it could blow out many of those who are holding significant short positions in gold.

But it is not just the Chinese government that has caught “gold fever” these days.

Chinese citizens are buying gold at a rate that has never been seen before.

On the Shanghai Gold Exchange, trading volume soared 43 percent during the first 10 months of 2010.

As the Chinese middle class has grown, gold has become much more popular.  Amazingly, Chinese households have purchased almost half as much gold since mid-2007 as all the investors in the West combined.

This is yet another sign of how far China has come.  China is not a minor player on the world stage any longer.  The truth is that China is now a major economic superpower.

In a previous article entitled “China #1, United States #2? 25 Facts That Prove The Transition Is Really Happening“, I detailed some of the statistics that prove that China has become an absolute powerhouse.  The following are just a few examples of those statistics….

*The United States had been the leading consumer of energy on the globe for about 100 years, but this past summer China took over the number one spot.

*Over the past 15 years, China has moved from 14th place all the way up to 2nd place in the world in published scientific research articles.

*According to one recent study, China could become the global leader in patent filings by next year.

*China now possesses the fastest supercomputer on the entire globe.

*China now has the world’s fastest train and the world’s largest high-speed rail network.

*Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China’s share had soared to 20 percent.

*Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

So what about the United States?

Well, the truth is that Americans have become so dumbed-down that only about 70 percent of them can even find China on a map.

How sad is that?

On the global chessboard, China seems to constantly be four or five moves ahead of the United States these days.

So if China is busy buying gold at a feverish pace perhaps it is because they know exactly what they are doing.

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comments

  • mondobeyondo

    There was a time, not all that long ago, when the British Empire ruled the world. In fact, it was said the sun never set on the British Empire, because of its territories and global dominance.

    Well guess what? It did.

    And the same thing is happening to the U.S.

    Now it’s China’s turn in the spotlight. They’re buying gold like crazy, because they know it’s a safe investment.

    Their theory, more or less, is, “You Americans, keep buying the Playstations, crock pots and plastic Christmas trees we manufacture, and we’ll keep exchanging the dollars you send us (which will soon be worthless) for gold and silver, which will keep its value”.

    Take a hint from the Chinese. Buy gold. NOW! Can’t afford gold now? You REALLY won’t be able to afford it six months from now. The same goes for silver.

    Good luck, Merry Christmas, and Gung Hee Fat Choy (Happy New Year!)

    Can’t remember what 2010 was.. Year of the Snake, or Rabbit, or something. I don’t know what 2011 has in store for the U.S. But I have this sick feeling, that it’s gonna be the Year of the Chinese Flyswatter Spanking American Fly.

  • mondobeyondo

    I’m not all that literate, geographically speaking. I mean, I have trouble telling the difference between the Yellow Sea, the Red Sea and the Black Sea.

    But I do know we’re taking on water, and sinking fast.

    History tends to change, often in unexpected ways. Where was China 100 years ago, or even 50 years ago? The average American would say, “Weren’t they fighting a revolt against Mao Tse-Tung? Or maybe it was Ho Chi Minh? They all sound the same to me!!”

    (Hint: It wasn’t Ho Chi Minh. He was the leader of the North Vietnamese government.)

    One other point I’d like to make.
    China is a Communist country.
    Yup, just like North Korea, Vietnam, Mongolia and Cuba, which are to the best of my knowledge, the only Communist countries still left in existence.

    I know it’s hard to believe, but it’s true. They’ve made some inroads towards free market capitalism, as in Hong Kong, and so forth. But the Chinese government is Communist, steeped in the history of their immortal hero, Chairman Mao. What a shocker!!

    Still want that Chinese made TV?

  • hognutz

    Glad I bought Gold when it was cheap. Lead is also a good choice……….

  • Martin Ordelmans

    China has smart people in government. The western world has to do with politicians

  • EndTheFed

    …#5 All Of the Above!

    Do the Chinese know what they are doing? You bet! And we should better know, too.

  • Mr Carpenter

    I would say that they absolutely know what they are doing, and that anyone with two brain cells to rub together in their heads should very seriously consider their own actions. Assuming, of course, that they have anything left to buy gold (or even silver) after all the necessities are paid for.

    If you do, then I’d recommend buying a safe, bolting it down in a closet (assuming you own a home and are not behind on payments) and actually holding your coins.

    Budgeting for them every payday – like the electric bill, the gas bill, the house payment, the car payment, the cable bill, the internet bill, etc., will help you realize your goals.

    But set a goal. Even if modest such as “I’d like to buy five ounces of silver per month and 1/10th ounce of gold”.

  • Aurelius 7

    Better yet, does the U.S. even have any gold at Fort Knox anymore? There hasn’t been an audit since 1996’ish — and that was only partial.

  • Piglet

    “Has gold simply become much more attractive than paper currencies such as the euro and the U.S. dollar? Of course, gold is more attractive. Paper currencies are, as the term implies, just colored paper, and they’re backed with worthless government promises. Act accordingly.

  • Theo

    Don’t buy gold. It’s a trap to further rob you of whatever wealth you are willing to part with in exchange for it. Don’t be deceived. Read about Executive Order 6102 signed by FDR on April 5th, 1933. The only value gold has is the value it is given by the powers that be. Its value IS NOT inherent. It’s a standard because it’s been made a standard by them. It’s legal to possess now, because they allow it to be. They control it. If gold is no longer recognized as a standard or if it is made illegal to possess, tell me, what would you do with a bar of gold? What good would it be to you or anyone else you would think of giving it to in exchange for something else? Absolutely nothing. Some of you don’t understand what is really happening. You don’t understand the nature of the beast you’re dealing with. The thief cometh not, but for to steal, and to kill, and to destroy. For those who have ears to hear, let them hear.

  • guy369

    Britain never lost control of the world.
    Know your history.
    They STILL own the U.S. of A. and continue to rape them at every cost while unbeknown to its people put fools in power who bankrupt their own country for the sake of nationalization of the global market.

  • Tim

    Theo,

    A little history lesson for you. Executive order 6102, which required Americans to surrender their gold to the government in exchange for paper dollars, was never enforced. Though “violators” were subject to a $10,000 fine, Americans never paid a dime in fines. The only gold the government received was from citizens who voluntarily turn their gold in. No one ever had their gold confiscated! How would the government know who had gold? Furthermore, why are pre-1933 gold coins still available in coin shops around the country if the government confiscated all the gold in 1933?

    Gold and silver are real money and will always have value. All fiat currencies, on the other hand, eventually go to their true value–ZERO. Today, nearly every currency in the world is a fiat currency. Since the Federal Reserve was created in 1913, the U.S. Dollar has lost 95% of it’s value, and continues to lose value. Gold and silver are finite resources, unlike fiat currencies which are created out of thin air.

    Tim

  • A Dodgy Bloke

    I don’t put any act of desperation, or stupidity past the Federal Government as part of Obama care 1099’s are to be filled out for all business over $600.00. To my knowledge that had not be over turned in the just passed tax deal, the Republicans (Who I view as just as bad as the Democrats in some cases just bigger liars) have not said a peep about abolishing this during the lame duck.
    The reason I’m mentioning this is A the Government doesn’t need to take your Gold they can just tax any Gold or Silver transaction to the moon. Or simply just take it driving it into the black market, with stiff penalties for anybody who doesn’t hand over their gold and silver.
    The only way I see this not happening is the Government totally collapses (Mad Max) something Mike Rupert is positive is going to happen me I’m really not sure. Things would have to get real hosed up real quick globally.

  • Mr Carpenter

    Correction, Tim; not “nearly every currency is fiat money” but EVERY currency is fiat money.

    The last bastion of some partial sanity, the Swiss Franc, is not even partially backed by gold any more.

  • http://www.cubeofgold.com Gold bubble

    All money in China wont buy more than half of the worlds gold supply.

    1.5 China = All gold on earth

  • Jonathan

    Everyone should be buying gold…With everything that’s been going on in the US and Europe, whatever’s happening now is just stalling a depression, which will come sooner than we think…Gold is a safe bet, money is just paper…paper is worthless…Government will try to do one thing after another but the fact still remains, you cannot not avoid what’s coming…you can try to stall it from coming but what will come will come…

  • http://pathtoasia.com Rhea

    Gold is a very important commodity, try turning metal into gold. Even though gold is a speculative investment, of which risk-takers mostly participate in, investors would usually buy gold as a buffer against any economic unrest of which the world is currently experiencing. Expect gold value to go up more than 100%.

    We help Americans find jobs and prosperity in Asia. Visit http://www.pathtoasia.com/jobs/ for details.

  • Javik

    Don’t put all your eggs in one basket. Meaning, don’t leave it all in dollars, and don’t convert it all to gold either. A mix of different currencies is better.

    The idea is that if the value of one crashes, at least you will still have something of value in the other.

    If you put 1/10th of your savings in gold, and the dollar crashes to 1/10th of value… you end up having lost nothing, because the gold is now worth 10 times as much in dollars.

    Though in this regard gold is nothing special. You could also put 1/10th of your savings in Euros. If the dollar crashes to 1/10th value compared to Euros, you have lost nothing.

    This is why a mix of currencies and precious metals investments is useful. Each one acts as a hedge against the other. Though it is hard for the little guy to do this due to exchange fees and so forth.

    If things got really bad, you may not have access to your foreign bank accounts with your Euros and your Yen. Some gold bugs question the safety of gold stocks like GLD. But, you also may not be able to find anyplace safe to cash in your gold or silver either.

    It may be necessary to scrounge along like everyone else for a while, and hold out for better times when you can regain access to your savings.

  • Theo

    @ Tim:

    Nice straw man, Tim.

  • JB

    Buying gold at this point is a little too late. If you are buying gold when everyone is doing it….you have missed the boat so to speak. Buying now is a suckers bet because we all know deep in our hearts the gold bubble will burst eventually. Despite what many people may think, perhaps the powers that be are getting ready to rob the chinese blind. The Chinese go out and buy a ton of gold at $1400 an ounce, the dollar starts plummeting and then all of a sudden, something great happens and gold drops to $700 an ounce and the dollar skyrockets, guess who just got shafted….the Chinese. Guess who owes the most to the Chinese…we do. I hate to say this, but there are some smart and sneaky ass people that have conned most people so far….they are just getting the rest with this gold mess. I will gladly take it off y’alls hands when it drops back to $700 and you have lost half of your savings :)

  • Boilermaker

    Ok Theo,Your soul and mine are worth more than anything.Fact. But you havent given an opinion on what people should do. You say not to buy but havent given an alternative and then called Tim a strawman when he has given better factual information than you have. Keep off these Blogs if your so thin skinned.

  • dan

    JB

    WHAT ARE YOU GOING TO EXCHANGE FOR THE GOLD FIAT…I THINK NOT

  • http://gardenserf.wordpress.com GardenSERF

    “Has gold simply become much more attractive than paper currencies such as the euro and the U.S. dollar?”

    Yes. And, then the Chinese will turn around with that pile of gold and buy American farmland.

  • Nicholas

    Well… yes, China has some advantages, but the vast majority of you have utterly no idea what risks China faces:
    1) complete social and political collapse due to growing labor tensions (labor abuses that breach Intl labor and human rights standards)
    2) cancer rates that are going to the moon due to insanely destructive industrial pollution and lifestyle choices (such as smoking)
    3) corruption that would make people at Enron and other US champions of such practices blush
    4) a central government that often has utterly no power over provincial government and thus disjointed polices abound
    5) the strong possibility of major famine and drought; the US will always have major leverage over China on this key point alone
    6) a growing military which is likely to be used on its own people as more and more disparity and abuse is no longer accepted
    7) abuse of society by strict control of the media

    Oh… and why is China so powerful today? It aint because their government is smart… It was only because US and European corporations, societies and governments were so damn stupid! Never before in the history of the world has a technology transfer/gift been ever carried out at such a scale.

  • Horace Manoor

    This shows how stupid the Chinese are. Where were they ten years ago when gold was hitting bottom? It’s tiresome hearing about the cleverness of Chinese officialdom, as if top-down economic management made sense.

  • Scott

    Buying gold now is not too late. I started buying at $279.00/oz. and all the way up on pullbacks. You’ll know when to sell when our government seriously addresses our problems head on. In other words……..hits the reset button. I don’t watch the price of gold. I watch what’s happening outside. All you naysayers will buy at the top just like you bought tech stocks and real estate.
    But that’s good because I’ll need a buyer for my stockpile.

  • RB

    @JB
    ´´Buying gold at this point is a little too late. If you are buying gold when everyone is doing it….you have missed the boat so to speak.´´

    This phrase has been repeated often last decade; in 2003 and 2004 and 2005 and 2006 and 2007 and 2008 and 2009 etc. and guess what happened? Goldprice rising all the time. Everybody buying gold? Not my dentist, not my neighbour, not the taxidriver and even not my familymembers. The boat still is at the harbor, waiting to prepare leaving and few are willing to see it´s still there. Yes, someday it will leave, unexpectedly, but that day will be not now. Better be prepared for that…

  • Robert

    The Fed is a for-profit corporation run for the benefit of its shareholders. It has now surpassed China and Japan in the amount of US debt it holds. (I am talking about bonds, treasuries, etc.) Total such debt outstanding is more than four trillion dollars. Of this, the Fed holds about one trillion. In order to collect interest payments on its holding, the Fed will increase the interest rate. For each one percent increase, the Fed will collect ten billion dollars from US taxpayers in the form of interest. This is why the Fed is buying US debt. It will also prevent the Chinese and the Japanese from dumping their dollars onto the open market. Therefore the dollar is unlikely to collapse until later. Instead, it will be thought to increase in value, especially when compared with certain other currencies. Compared with gold however, it will be known to be losing value, because many people understand that rising interest rates go with a weakening currency. So it will take more dollars to buy gold. Have I got this right? Or am I just a dumb cluck?

  • Agent P

    JB – when might that be? The $700/oz. mark, that is?

    The ‘Powers that be’? You mean the $Money changers at the Fed and major financial institutions vs. their 5000 year-old counterparts of middle Earth…?

    Hmmm… Could be quite a chess match there, JB. I would sell a civilization that is as old as the $Money changers too short, you might get burnt…

    As far as the Chinese in general? They are focused on building an empire – let’s call it what it is: A new Dynasty.

    Meanwhile, we over here fritter away our time & resources on far more important issues – like Don’t ask, Don’t tell, Kyoto protocols, the latest DC scandal and self-esteem.

    I wonder if Chinese Military Generals are hip to ‘self-esteem’…?

  • Charles

    The chinese are aware that the days of unbacked fiat currencies are numbered, & are now preparing to back their yuan/remimbi with gold some time in the near future, at which point they will be able to become the worlds reserve currency. We are stupid, economically foolish, & have allowed the Federal Reserve banksters to steal the GDP of the whole country. Although Bernanke & all of the central bankers profess that gold has no economic valoue, you better believe that they have theirs,( & lots of it!), that they bought with the worthless paper they have been printing. If you don’t, you better get cranking, because soon the “dollar” will be good for nothing but wallpaper or asswipe, & obviously it’s not much good for either. To close I’d like to quote from Darryl Robert Schoon, ” Buy gold, buy silver, have faith”

  • TG

    If you are holding all paper expect to get wiped out.
    Its funny that all these people say that Gold is in a bubble.
    What about a credit/dollar bubble you “FOOLS” ?
    I will believe 6000 years of history before some Bafoon that thinks they know finance.
    nuff said………………………

  • oehT

    Don’t own paper. It’s a trap to further rob you of whatever wealth you are willing to part with in exchange for it. Don’t be deceived. Read about Executive Order 6102 signed by FDR on April 5th, 1933. The only value paper has is the value it is given by the powers that be. Its value IS NOT inherent. It’s a standard because it’s been made a standard by them. It’s legal to possess now, because they allow it to be. They control it. If paper is no longer recognized as a standard or if it is made illegal to possess, tell me, what would you do with a pile of paper? What good would it be to you or anyone else you would think of giving it to in exchange for something else? Absolutely nothing. Some of you don’t understand what is really happening. You don’t understand the nature of the beast you’re dealing with. The thief cometh not, but for to steal, and to kill, and to destroy. For those who have ears to hear, let them hear.

  • Habu

    Theo …are you really as ignorant as your post would indicate?

  • Vess

    China is an economic accident waiting to happen.

    The USA is an economic accident that has already happened.

  • robbie

    JB, please send me your address so when Gold prices drop to $700 I will be able to sell you mine.
    Yea, right. How about the same to you? But I won’t be holding my breath.

  • Ben Steppe

    Mongolia is not a communist country. It has been an independent free market democracy for twenty years now – unfortunately landlocked between China and Russia. Mongolia is a good partner of the US, and sent troops to Iraq for five years, and has over 200 soldiers assisting US and NATO efforts in Afghanistan – far more soldiers than many of our NATO allies have anted up. Great opportunities for investment there, too.

  • therooster

    Theo …. FDR’s assault on gold was because of the fixed peg. There’s no fixed peg since 71 so governments are free to debase the dollar and pay down debts with diluted dollars. No gold confiscation is needed. Welcome to the 21st century where the closure of Bretton Woods set gold free and supports personal and individual freedom …. but only if you own gold.

    Gold is also being monetized, for your information, each and every day at the grass roots level as a market currency. Don’t look for a top-down gold standard. It won’t happen and is not part of the “script”. This time, gold is monetaized from the bottom-up and is utilized within real-time digital system where we use its weighted tile as a currency. What this means when the smoke clears is that digital gold backed payment systems allow one to trade weighted gold for a stick of Juicy Fruit that may have fiat pricing with real-time payment and no lingering debt when the transaction is complete. Store of debt free value has married with instant global liquidity. It doesn’t get any better than that.

    You’ll only see this from a gold paradigm with gold as the payment standard. You will not see it from a fiat paradigm. The fiat paradigm creates a blind-spot to the truth.

  • http://AmericanDream Fine as Frog Hair

    What is, is. What isn’t, isn’t. What is, is that if you control the debt, you control the citizen, the economy, the Nation. No need to pass the Laws or sign same.What isn’t,isn’t necessary to be a rocket scientist to know that gold is payment par excellent any time, any place, any where.JB keep to selling your cheap ass coins and leave the blogs to the thinkers

  • Nikolaus

    all governments do the right thing: after they tried everything else…
    so the chinese are finally buying gold: after accepting about 1 trillion of US$-“printed paper pieces”… that ben is successfully devaluing: everything that is available in abundance, becomes worthless… unfortunately, that’s even true for animals incl. the naked ape: us.

  • Lawrence

    Theo
    You have the typical US centric view. Those with any sense and who have learnt from history are busy preparing for the death of your precious world reserve dollar. Asians know that it is now their time and the sun is setting on the USA as the dominant world power. The rest of the world wont give a monkeys if gold is outlawed in the US. They know gold is real money compared to the ass-wipe dollar fiat paper. If u dont buy gold you end up poor. Period.

  • Reymondo

    @beyondo
    =====
    >>One other point I’d like to make.
    China is a Communist country.
    Yup, just like North Korea, Vietnam, Mongolia and Cuba, which are to the best of my knowledge, the only Communist countries still left in existence.
    ======
    nothing beats uncle sam in being communist – look how they gave away trillions to the banksters. lol

  • Dick Tator

    Calm down people. Instead of spending too much time on sites that only confirm opinions that you already have, widen your perspective. China still has a long way to go. The US will continue to be important and relevant. It will be good that we aren’t the sole superpower policing the world. Those who speak glowingly of gold with rock solid certitude are also guilty of confirmation bias. Historically, individuals stockpiling gold hasn’t been a good strategy. Emotionally, it makes people feel grounded, but it is an illusion.

  • Ed Smith

    Why would anyone buy gold if there was no tomorrow? They are buying gold precisely because TOMORROW IS COMING!

  • Kerux

    There are three elements to money: 1)substance 2) unit of measure and 3) quantity. The US dollar has no substance behind it. It is what is called a faith based currency. Silver used to be the substance – “silver certificates” – behind the paper currency. Now, nothing backs the US currency. Once the world figures this out and loses faith in the worth less and less every day paper currency, they will stop accepting the USD. Then, Americans will understand Zimbabwe like hyperinflation.

    Silver and gold and other PMs are the substance we used to back our currency with.

    Got substance?

  • Grover Lembeck

    It’s interesting to note that the Chinese have a history of causing their neighbors problems with a grabby attitude towards gold- in ancient times, they caused such a currency crisis in Rome, the Romans were forced to pay their soldiers with salt.
    Please note I’m not claiming that Rome had direct trade with China, but Rome did have a LOT of direct trade with India, and those merchants had to get gold from anywhere other than China, so there ended up being a shortage in Rome.

  • Tom

    Reasons for Gold are clearly:
    Loss of confidence in Fiat (Europe and the US, fear of inflation), the debts which can never be paid back,
    asians, who have traditionally always favored gold and now have more and more buying power…
    more and more people learn and read about gold
    and: which alternative investment had such an value increase in the last years and seems to be so safe if you have physical Gold?
    I live in Germany and some of my friends and myself believe very strongly in physical Gold.

    Many say: gold will never be as cheap again as today…

    Merry x-Mas!

  • Tom

    Another reason for Gold: which alternative investments do you see right now? Bonds, stocks…other commodities ?

  • NotgoingDown

    CHina is buying up all the old it can just so it can make itself the leader in the national currency. Yes, China is gobbling up all the gold it can to back up what will be the next new world currency which will be the Yuan or the Kubinini I believe it is called. It is pruning itself to be able to be the worlds next leading or only currency that is actually worth something because it will be backed with you know what….Gold. Since the US took itself off of the gold standard, our debt has become to high. 15 trillion dollars to high. We owe so much money to other countries and they are bought in the form of us treasuries which is basically them buying our debt. So if you want to protect yourself from this you better by buying some gold stocks, or getting in on the chinese gold holdings in the stock market which have dealings with the US. Buy silver too, that whay you have a hedge on your portfolio. Believe me, if you don’t do it now, when gold prices hit 2000 or 3000 dollars an ouce it will be too late as most people will not be able to afford it. Heed this warning if you do nothing else today. You can also do your research and start looking up what I am telling you on the internet. You won’t hear about this on the news until it is tooo late. So start buying as much as you can right now, and get into some of these chinese holdings as soon as possible.