BillHolter.com

Bill is interviewed by Liberty and Finance – (Also under Interviews)

Bill’s Commentary:

“How much gold does China have? And the US “supposedly” has 8,300 tons?”

China’s gold strategy

China first delegated the management of gold policy to the People’s Bank by regulations in 1983.

This development was central to China’s emergence as a free-market economy following the post-Mao reforms in 1979/82. At that time the west was doing its best to suppress gold to enhance confidence in paper currencies, releasing large quantities of bullion for others to buy. This is why the timing is important: it was an opportunity for China, a one-billion population country in the throes of rapid economic modernisation, to diversify growing trade surpluses from the dollar.

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