GOLD

[srotherh]

I have no doubt it will, but that won't be helpful to us here if the NZD is US$1.50 or US$2.00 . . . truth is, gold IS rising in all currencies.

The BIG problem that nobody talks about is the fact that the vast majority of reserve assets held by central banks around the world are in USD instruments - Dollars, Treasuries and agency debt . . .

What happens to local currencies like the AUD and NZD when a USD currency crisis finally emerges and supports get cut out from underneath them?

Aussie
Correct
Problem for NZ is all reserves are in $USD
Even reserve bank realises that

http://www.sharechat.co.nz/article/a...tervening.html

At the same hearing, Deputy Governor Grant Spencer confirmed New Zealand’s central bank was trying to move its assets away from the greenback as the world’s reserve currency remained out of favour with investors.

“We’re trying to reduce our exposure to U.S. dollars as it heads south,” Spencer said.

[peat]

Aussie
At the same hearing, Deputy Governor Grant Spencer confirmed New Zealand’s central bank was trying to move its assets away from the greenback as the world’s reserve currency remained out of favour with investors.

“We’re trying to reduce our exposure to U.S. dollars as it heads south,” Spencer said.

hard to imagine them buying gold - is that what you're suggesting putting that quote in this thread?

and if not, what? are they buying kiwis?? hahah maybe they're pushing up the NZD

[srotherh]

hard to imagine them buying gold - is that what you're suggesting putting that quote in this thread?

and if not, what? are they buying kiwis?? hahah maybe they're pushing up the NZD

Pete
Not suggesting they will buy gold but point out they are between a rock and a hard place with the all the $US they hold
The Chinese govt are smart Divesting their $ by investing into basically commodities ,commodity companies and countries and guess what , they are also buying gold

"The latter comment came from the first speaker in the session, Zhou Zhongshu, President of China Minmetals Corp.
He had begun by considering the effects of the global financial crisis and noting how companies like his had helped support Australia’s mining industry. He quoted a figure of $9.7 billion that had been invested this year in Australia’s mining industry by the time of the conference. But, he said, companies around the world "need more help in getting capital from China."

[Aussie]

srotherh, China is now the largest gold producer in the world and the Chinese are buying 100% of their own domestic production. Plus, they are actually buying more in the open market while at the same time - encouraging their population to use their own savings to buy gold and silver . . . what does that say about what they think about the future of fiat money . . . ?

[airedale]

I half heard something on BBC radio last night about the Russians selling 10 tonnes? maybe, or just a large quantity of gold to raise some cash.I imagine that it will find plenty of willing buyers in the present climate.

[peat]

I've been watching a doco on Fort Knox and couldnt resist sharing this pic

[arco]

That guy on the right....whats that in his left side pocket?

[TTrader]

I've been watching a doco on Fort Knox and couldnt resist sharing this pic

Modern Marvels: Fort Knox?

[peat]

Modern Marvels: Fort Knox?

History Channel:Fort Knox Secrets Revealed (2006)

[airedale]

Hi peat, did they say when the stockpile was last counted? The scuttlebutt on the gold conspiracy sites is that it hasn't been audited for yonks. Hard to believe, but who knows?