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Guess Which Country Has Been Working Overtime Reinforcing Its Gold Holdings

Jan. 10, 2013 4:50pm Becket Adams

Not to be outdone by their Russian neighbors, who’ve been boosting their gold holdings at a breakneck pace, it looks like the Chinese have really stepped up their “grab all the gold” game.

China imported 90.8 tons of gold in Nov. 2012, double the amount imported in October (47 tons), bringing its annual total (excluding December) to 720 tons of gold. Yes, 720 tons of gold.

“If last year is any indication,” writes Zero Hedge, “the December total will be roughly the same amount, and will bring the total 2012 import amount to over 800 tons, double the 392.6 tons imported in 2011.”

China Really Steps Up Its Gold Game in Nov. 2012

Courtesy ZH

If Zero Hedge is correct, and the total amount imported come in at 800 tons of gold, there’s this to consider:

… in one year China, whose official reserve holdings are still a negligible 1054 (and realistically at least double, if not triple, this number), will have imported more gold than the official holdings of Japan, last pegged at 765.2 tons (and well more than the ECB’s 502.1 tons).

Here’s a list of the world’s gold holdings:

Courtesy ZH

While China purchased roughly $39 billion worth of gold in 2012, as the Hedge points out, it only purchased $10 billion U.S. Treasurys.

“Finally, let’s not forget that recently China surpassed South Africa as the world’s biggest producer of gold with annual output in the hundreds of tons,” the report concludes.

“Add the net imports number to this total (which amounted to some 281 tons in 2012 according to Bloomberg) and one can get a sense of how big China’s appetite for hard assets … has become,” it adds.

Whatever, China.

Our yet-to-be-minted $1 trillion-dollar coin will take on your gold holdings any day.

USA! USA! USA!

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Fueautured image courtesy China.org.cn

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Comments (65)

Netsurfer2
Posted on January 10, 2013 at 8:12pm
It really doesn’t matter because the price of food, good of any kind and not to mention our pay in what we work always stays the same! Isn’t it wonderful when you pay more taxes while people like Bill Gates, Warren Buffet and other high end Dem’s get their own lobby’s with lawyers! They get out of paying so that we can! Remember “yes we can”! Their utopia always nips you in the! Now you can bet on it that none of the deficit will be repaid, taxes and spending will go up beyond belief! How’s that for the price of gold? Greed will get ya!

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David1967
Posted on January 10, 2013 at 8:03pm
The US is doing the same thing. That is why there is a CASH-FOR-GOLD store on every street corner.

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jamestoms
Posted on January 10, 2013 at 7:51pm
Oh ain’t everything great, the savior Ohama has pushed america right into the gutter along with Geitner and all the rest filth. I hope everybody will like the “Super” Depression!!!

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potica69
Posted on January 10, 2013 at 7:38pm
Hypothetical question:

Kinda like a Goldfinger scheme, what would happen if an enemy were able to drop a nuke on Fort Knox and virtually vaporize all the gold there?

What would be the ramifications?

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- broper
  Posted on January 10, 2013 at 7:48pm
  Concerning the gold in Fort Knox, there are three possiblities:
  
  1. It is still there, and it belongs to the United States
  2. It is still there, but it has been sold to another nation.
  3. It is not there.
  
  It has been decades since anyone other than a tiny few Ft. Knox personnel have seen the gold. No elected official has been able to inspect the gold, inventory the gold, or even peek at the gold in years. Makes you wonder.
  
  Report this comment
- soybomb315_II
  Posted on January 10, 2013 at 7:52pm
  why does it matter if we even have the gold. Our listed reserves are just a fraction of our national debt
  
  Report this comment
- CommonSenseTalk
  Posted on January 10, 2013 at 7:56pm
  Why use a nuke? Just sell all the American Dollars you own and a fast sale of all American debt at the same time. See what happens to the dollar, the price of goods like food from other nations. btw, we need lots of food from other nations to provide for all Americans.
  
  If the world thinks the dollar is worthless are they going to sell us anything for dollars or will they want gold instead?
  
  Report this comment
- TheWhiteFalcon
  Posted on January 10, 2013 at 9:53pm
  If I recall, they claim there is no gold in Kentucky, that it’s all in the Federal Reserve Banks (primarily in New York).
  
  Report this comment
Vickie Dhaene
Posted on January 10, 2013 at 7:31pm
Looks like the “World” economics needs a start over point. I think inflation is ready to hit on a massage level.
Smells like GS is working overtime.

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chicago76
Posted on January 10, 2013 at 6:43pm
America and Europe passing money back and forth from hand to hand. In one hand is a Treasury or Euro bond in the other is the dollar bill or Euro. Like two guys passing bills and bonds back and forth across the Atlantic, printing them up as they go. A huge money laundering scheme that only the globalists and crooked bankers and crooked politicians on both sides of the Atlantic could dream up. What a filthy mess they have created.

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- turkey13
  Posted on January 10, 2013 at 7:39pm
  Didn’t you get the word – Congress is legal to invest on insider trading. Remember Charlie Rangel came in on a seargents pay and is now worth almost $$ 6 million bucks. Of course he got swept up in Nancy Polisi’s draining of the swamp along with 6 of Obama’s Szar picks. Turbo Timmy was # 7 but blamed his tax problrms on Turbo Tax.She couldn’t get that plug back in fast enough.No – we don’t have corrupt politicians – we just let in untill they get rich & die of old age.
  
  Report this comment
chicago76
Posted on January 10, 2013 at 6:33pm
Now you know why the US government does not mind printing money. Not only can they spend it, but it makes, through inflation, the gold reserves that much more valuable. It is a win win situation for the US government.

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- cindy g
  Posted on January 10, 2013 at 6:43pm
  Show me the gold first!
  
  I have no faith that this country has anywhere near the gold it claims to have. Ron Paul and a few other congressional republicans asked to see the gold reserves and were never given a response to the request.
  
  Report this comment
coyote1hell
Posted on January 10, 2013 at 6:10pm
Buh’rack said…no,no,no….China..you are supposed to pissss..the money away, like Meeee….

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- RJJinGadsden
  Posted on January 11, 2013 at 6:18am
  Agenda 21′s little twist on Ecclesiastes VIII 15, Eat, drink, and be merry, for tomorrow many of you shall die.
  
  Report this comment
The-Monk
Posted on January 10, 2013 at 5:56pm
I feel compelled to do some math on this one….. be back soon.

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- The-Monk
  Posted on January 10, 2013 at 6:13pm
  I’m back…
  
  27381.1 x 2000 = 54762200 lbs.
  $1675.94 ounce x 16 = $268150.4 per lb x 54762200 lbs = $1,468,450,583,488
  
  This means that 1.5 of Obama’s new $1T coins will be worth more than all the Gold in that chart.
  
  Report this comment
- soybomb315_II
  Posted on January 10, 2013 at 6:22pm
  US government does not have 8,000 tones of gold in its vaults
  
  Report this comment
- The-Monk
  Posted on January 10, 2013 at 6:31pm
  Go away and stop posting on my comment posts Soybom315.
  
  Bother someone else with your guesses. : )
  
  Report this comment
- The-Monk
  Posted on January 10, 2013 at 6:38pm
  That’s not a 15… that’s 1.5… one and a half coins for those that missed the decimal point.
  
  Report this comment
- soybomb315_II
  Posted on January 10, 2013 at 6:45pm
  i had meant that to be a general comment and not under your name but have a nice day Mr. Sensitive
  
  Report this comment
- The-Monk
  Posted on January 10, 2013 at 9:32pm
  Correction….
  
  tonne [tʌn]
  n
  (Mathematics & Measurements / Units) a unit of mass equal to 1000 kg or 2204.6 pounds Also called (not in technical use) metric ton
  
  Change 2000 pounds to 2204.6 pounds = $16,186,730,781,788.224
  or 16 Obama coins. Or about our entire debt.
  
  Report this comment
- The-Monk
  Posted on January 10, 2013 at 10:14pm
  Messed up on a decimal point this is it…
  
  I added up all the tonne of Gold on that chart = 27381.1 tonne.
  
  1 tonne = 2204.6 lbs
  
  27381.1 x 2204.6 = 60364373.06 lbs
  
  Gold is $1675.94 per oz.
  
  $1675.94 x 16 = $26815.04 per lb. (Price of Gold per pound)
  
  $268,15.04 x 60364373.06 = $1,618,673,078,178.82
  
  Or $1.62T, about 1.6 Obama coins.
  
  Report this comment
thegreatcarnac
Posted on January 10, 2013 at 5:42pm
I’ll bet obama is sooo proud of them.

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RaydocX
Posted on January 10, 2013 at 5:37pm
they have to… having let us spend ourselves into involvency (sort of like we did to Russia, no?), they will take a huge loss, and with the world economy ‘weak’ (Lefty talk for in recession), gold is their hedge.

Welcome to the world the English experienced after the colonies broke away… sadly the passing of the torch is NOT to another democracy, but that matters little to our leaders.

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- woodyee
  Posted on January 10, 2013 at 5:47pm
  The passing of the torch of “democracy” is precisely what is happening. What I abhor is the twilight of a Constitutional republic.
  
  Report this comment
ChiefGeorge
Posted on January 10, 2013 at 5:30pm
Just read revelations 13 to see how this all works out.

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- Welcome Black Carter
  Posted on January 11, 2013 at 11:35am
  Revelation. No “S”
  
  Report this comment
woodyee
Posted on January 10, 2013 at 5:23pm
At the risk of sounding conspiratorial, if any of you notices movement of foreign troops within our borders, please let an armed American know as quickly as possible, and ANY American you happen to come across if the fit hits the shan…

I’m on 3 going on 4, RJJ!!!!!!

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woodyee
Posted on January 10, 2013 at 5:21pm
Gold is held back and stockpiled when planning for hard economic times – and war.

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GoodStuff
Posted on January 10, 2013 at 5:18pm
The Chi-coms basically own Africa. They have hundreds of thousands of miners working 24 hours a day turning Africa upside down to get the gold. And every one of these mining outfits are armed to the teeth. They’ll mine thousands of acres of land even if they don’t have a lease on the lot. They’ll just show up with guns, claim the land as their own, and start mining. The local governments won’t stop them because the local politicians get a kickback.

Meanwhile in America, the media is talking about the Kardashians or something.

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- woodyee
  Posted on January 10, 2013 at 5:27pm
  SO TRUE!
  
  I had to work with “that type” throughout most of my career, fighting uphill every step of the way to get at least ONE to see the forest for the trees. I got a few to look at things from what they were schooled to do, but not many. The impossible ones were the “sports-stats” type – they could tell you anything you wanted to know about any professional athlete, but ask them what they paid in taxes on their last pay stub, and they’d ask “Uh, what’s that?”
  
  Report this comment
- Acena
  Posted on January 10, 2013 at 5:42pm
  Yeah,i was shocked to see how China has taken over in Africa.
  They obviously have a deal with muslims who have alot of control in Africa .muslims keep tribal ,racial and religious wars and political instability going so China can rape the land.
  Along with coffee companies,like Starbucks, who screw farmers blind.
  
  The big question is why the IMF is on this list.
  
  Report this comment
- soybomb315_II
  Posted on January 10, 2013 at 6:17pm
  @Goodstuff
  What is that – an Alex Jones conspiracy?
  
  Kook Alert!
  
  Report this comment
The-Monk
Posted on January 10, 2013 at 5:13pm
I wouldn’t be surprised if Obama had 3 $1T coins made and just mailed them to China to pay some debt off.

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- gyro
  Posted on January 10, 2013 at 5:28pm
  to late already done
  anyone looked in fort nox latly
  
  Report this comment
media-bias-steals-elections
Posted on January 10, 2013 at 5:12pm
So what do you want us to do about it?

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- GoodStuff
  Posted on January 10, 2013 at 5:18pm
  Start mining.
  
  Report this comment
- jakartaman
  Posted on January 10, 2013 at 5:21pm
  Don’t watch MSM – I have not in years only football.
  Also a letter/e-mail to the news advertisers saying you will not buy their product if the support the commie news station – just have some fun with it
  
  Report this comment
Ghandi was a Republican
Posted on January 10, 2013 at 5:07pm
Obama has destroyed the dollar. The yuan will be there to pick up the pieces sending the dollar into a hyperinflationary spiral of worthlessness. Retirement accounts will become worthless overnight.

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- Chet Hempstead
  Posted on January 10, 2013 at 5:23pm
  That’s not how you spell Gandhi.
  
  Report this comment
- Fireking151
  Posted on January 11, 2013 at 9:57am
  @Chet…LOL! His name does not refer to a Indian! Think Texas.
  
  Report this comment
woodyee
Posted on January 10, 2013 at 5:06pm
Let me take a break from my self-anesthetizing to form a cogent and late question, and then post it here –

Why, good heaven, do the ECB and IMF even EXIST?!?!?!?

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Anonymous T. Irrelevant
Posted on January 10, 2013 at 5:06pm
China is patiently planning.

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- MDECKER
  Posted on January 10, 2013 at 5:24pm
  Gold is no match with my Second Amendment!
  
  Report this comment
- ImMadAsHell
  Posted on January 10, 2013 at 5:40pm
  You betch ya U R correct sir I agree 100%, keep an eye on CHina they are bad juju
  
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- VRW Conspirator
  Posted on January 10, 2013 at 5:46pm
  I am with Decker…let them go for gold…we will get the brass and copper and lead…we can meet somewhere in Europe or Africa after they both burn to the ground and see who wins the final battle…
  
  Report this comment
- Mudd
  Posted on January 10, 2013 at 6:48pm
  China will turn it’s peace time economy into a war time economy the way the U.S. did after Pearl Harbor. Can we we match their output with what’s left of our manufacturing industry?
  
  Report this comment
Cavallo
Posted on January 10, 2013 at 5:04pm
They will have to have something to fall back on when we stop sending them any more monopoly garbage money.

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- booger71
  Posted on January 10, 2013 at 5:10pm
  China, no, The vast majority of our debt is held by the Federal Reserve.
  
  Report this comment
woodyee
Posted on January 10, 2013 at 5:01pm
Am dis heah be a surprise to anybody? My brovas, the question must should be – Who am da Chineses betting against?

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Meggers55
Posted on January 10, 2013 at 5:01pm
Therhasn’t been an audit of Ft. Knox since the 70′s. It’s high time we had another one. I want to see if our gold is really still there.

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- BasketFullOfPuppies
  Posted on January 10, 2013 at 5:16pm
  It isn’t. After going to all the trouble to tunnel in there, and make my fortune, all I found inside were 2 guards playing poker and getting drunk, and a single IOU laying on the floor.
  
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Meggers55
Posted on January 10, 2013 at 4:59pm
it’s high time for another audit on Ft Knox. I want to see if any of our gold is still there. Hasn’t been an audit since the 70′s.

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Snowleopard {gallery of cat folks}
Posted on January 10, 2013 at 4:58pm
Learn well people, we are headed for a massive global overturning of the old order.

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- gyro
  Posted on January 10, 2013 at 5:29pm
  when money is valueless what left?
  
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- jakartaman
  Posted on January 10, 2013 at 5:30pm
  You are soooo right Snowlepard.
  people have No clue as to what the real world debt is.
  Example – just the derivative debt is cole to a Quadrillion – yup
  Once the music stops – $$printing – the whole house of cards implode.
  Can you say global food shortage – oil prices so high you can not afford it
  The heroes and new millionaires will be the local farmers – the trucks will not be running from California w/lettuce/grapes to NE
  
  Report this comment

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