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Gold & Silver, preparing for the next launch….to greater heights - China holding only 1.5% of its assets in gold

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Slower economic activity in the USA will spill over into other economies, resulting in lower tax revenues. Ironically this will coincide with increased government spending because of the various ‘safety nets’ have been put into place. Unfortunately, lower tax revenues combined with increased spending cause a geometric (not arithmetic) rise in budget deficits. We can therefore expect monetary inflation to continue for a long time. The Chinese Central Bank in 1978 had 95% of its foreign reserves tied up in gold. Today, because of the rapid increase in its foreign reserves (much of it in US dollars), only 1.5% of its assets consist of gold. A number of highly placed officials are on record as stating that they would like to see a change, especially as they notice the decreasing value of ...

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