China, Gold, and the Civilization Shift

peaceandlove · 12-02-2009, 06:30 PM

China, Gold, and the Civilization Shift

Catherine and News & Commentary, December 1, 2009 at 2:12 pm

By Ambrose Evans-Pritchard

Stephen Jen from the hedge fund Blue Gold Capital has a warning for those who think that gold has risen far too high, is necessarily in a speculative bubble, and must soon come clattering back down.

Mr Jen is an expert on sovereign wealth funds from his days at Morgan Stanley. The gold story — essentially — is that the rising economic powers of Asia, the Middle East, and the commodity bloc are rejecting Western fiat currencies. China, India, and Russia have all been buying gold on a large scale over recent months.

CONTINUES: http://blogs.telegraph.co.uk/finance...ization-shift/

SOURCE: http://solari.com/blog/?p=5251

An older AMBROSE EVANS-PRITCHARD article:

Is $6,300 fair value for gold?

Ambrose Evans-Pritchard has covered world politics and economics for 25 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels. He is now International Business Editor in London.

By Ambrose Evans-Pritchard Economics
November 19th, 2009

The last parabolic spike in gold took off when central banks joined the fray in the 1970s, hoarding bullion with the same enthusiasm as gold bugs.

Dylan Grice from Société Générale says it smells much the same today.

He sees an eery similarity between the decision of India’s central bank to buy half the IMF’s entire sale of gold, and the move by France’s central bank to start converting dollars into gold in 1965 — which was, of course, the start of the slippery slope leading to the collapse of Bretton Woods and the closure of the US gold window under Nixon.

CONTINUES: http://blogs.telegraph.co.uk/finance...alue-for-gold/

12-02-2009, 06:30 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	China, Gold, and the Civilization Shift China, Gold, and the Civilization Shift Catherine and News & Commentary, December 1, 2009 at 2:12 pm By Ambrose Evans-Pritchard Stephen Jen from the hedge fund Blue Gold Capital has a warning for those who think that gold has risen far too high, is necessarily in a speculative bubble, and must soon come clattering back down. Mr Jen is an expert on sovereign wealth funds from his days at Morgan Stanley. The gold story — essentially — is that the rising economic powers of Asia, the Middle East, and the commodity bloc are rejecting Western fiat currencies. China, India, and Russia have all been buying gold on a large scale over recent months. CONTINUES: http://blogs.telegraph.co.uk/finance...ization-shift/ SOURCE: http://solari.com/blog/?p=5251 An older AMBROSE EVANS-PRITCHARD article: Is $6,300 fair value for gold? Ambrose Evans-Pritchard has covered world politics and economics for 25 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels. He is now International Business Editor in London. By Ambrose Evans-Pritchard Economics November 19th, 2009 The last parabolic spike in gold took off when central banks joined the fray in the 1970s, hoarding bullion with the same enthusiasm as gold bugs. Dylan Grice from Société Générale says it smells much the same today. He sees an eery similarity between the decision of India’s central bank to buy half the IMF’s entire sale of gold, and the move by France’s central bank to start converting dollars into gold in 1965 — which was, of course, the start of the slippery slope leading to the collapse of Bretton Woods and the closure of the US gold window under Nixon. CONTINUES: http://blogs.telegraph.co.uk/finance...alue-for-gold/