Turk on Gold ~ Printing Presses Running at Full Steam
 

Turk on Gold

Catherine, Financial Permaculture, Geopolitical and News & Commentary, April 28, 2009 at 11:04 am

“The outlook for gold remains bullish. Central bank ‘printing presses’ are running at full steam trying to keep up with those governments around the world that are spending more money than they have or are likely to collect in taxes. China’s announcement on Friday that it has increased its gold reserves by 76 percent to 1,054 tonnes is yet another important piece of bullish fundamental news for gold. It is therefore not surprising that gold is in a strong technical position too, as we can see from the following chart.”

Continues: http://solari.com/blog/?p=2672 Catherine Austin Fitts' Blog



Forget Gold; 1 oz Opium = $10,000

Video (3:31): http://solari.com/blog/?p=2674

China Increases Gold Reserves 76% to Fifth-Largest
 

China Increases Gold Reserves 76% to Fifth-Largest

By Eugene Tang and Bob Chen

April 24 (Bloomberg) -- China boosted its gold reserves by 76 percent since 2003 and has the world’s fifth-biggest holding by country, said Hu Xiaolian, head of the State Administration of Foreign Exchange.

The nation increased its reserves by 454 tons to 1,054 tons through domestic purchases and refining scrap metal, Hu said in an interview with the Xinhua News Agency today. The amount is more than Switzerland’s 1,040 tons, World Gold Council data show, and is worth $31 billion at current prices.

Article continues: http://www.bloomberg.com/apps/news?p...JqQ&refer=home