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It was reported that the buy gold IMF plan to sell gold from the IMF is expected to be the Group of 20 Summit this week to discuss the question. This revenue scale 1 time times to IMF rescue funds and thus to help poor countries struggling in the economic crisis.
Moreover, IMF in a report prepared for the Group of 20 Summit communiqué also mentioned that, before the spring session to be held in April and the World Bank, formally introduced “to sell gold to support low-income countries received” proposal.
So, if the IMF plan to sell gold wowgold was supported by key members and implemented, China should buy it?
The answer to this question, first with the discourse of China is seeking international monetary system should be the right segment. The pure lines of two things, not buy wow gold in the least change our current status as an International Monetary Fund in the amount and manner of speaking.
Only need to consider, is whether the Central Bank was necessary to increase the proportion warcraft of gold reserve system as a whole. For the sake of continued fast growth of foreign exchange reserves, China’s gold reserves in the reserve system, in the case of number 600 tons of gold reserves intact, from the decline in per cent in 2003 to the end of 2008 0.89%.
Many people believe that, in view of the rising gold prices in the international market, to hold more gold reserves, far cheapest wow gold more than hold more foreign exchange reserves much more cost-effective. Some people even think that, the international monetary system should return to a gold standard, and for this reason, advocated the urgent need buy cheap wow gold to substantially increase gold reserves ratio in China.
Just last night in connection with the domestic authoritative scholars involved in international financial, radio programme, she told me that gold would rise to $ 3,500 per ounce. 4 years ago, I used to be advocates of the prices of gold and gold investment, but since last year, wow guide with the gradual deepening of I study on the international monetary system, I have cheap wow gold abandoned this outdated idea.
Complex of that, we think, since even the IMF wanted to sell the gold, and slashed their gold reserves ratio accordingly, together with the European Central Bank and the United Kingdom’s Central Bank has repeatedly sold gold, why do we have to firmly believe that there is gold in the international monetary system Xiang Bobo then?
In wow gold eu addition, the international monetary system is simply impossible to return to the gold standard. Gold standard has been replaced by a gold exchange world of warcraft standard, due to 19th century gold production fast growth to the end of the century came to an end, so that subsequent gold production growth is far from satisfying demand for world trade growth on standard quantity of money. Gold exchange standard, is the standard currency of the international monetary system, for the first time by the transition to real currency notes and banknotes of the first acts as a standard currency is the pound sterling. To the later of the Bretton Woods system, the international monetary system into dollar exchange standard, rather at the gold exchange standard-US dollar exchange standard two-track system, to the fabric after a system crash, dollar exchange standard to the total formation as of today.
World Gold production that entered a period of high growth, wow level and be able to meet the needs of future world trade growth on standard fast wow gold currency do? Truth is, mining and refining costs and other costs for environmental protection increases, growth of World Gold production cheap gold does not improve, with the long-term main producing countries South Africa continuing decline in yield for the prominent imagery.
Not wow gold us only that, assuming that return to gold guide the gold standard, this is just assuming, of course, China can benefit from it? Answer is completely negative. The present dollar exchange standard, due to the country of China is free gold the world’s largest reserves, roughly 45% per cent of total world foreign exchange reserves, China’s actual influence cannot be underestimated by Nations. If replaced by gold standard, China’s gold reserve only 1.8% per cent of official gold reserves of the world as a whole, how to win the international community’s attention to it? Faced with such a huge gap, believe that the correct answer is not difficult to choose.
Next,wow game if the IMF and World Bank have joined the ranks of the sale of gold, make gold the European Central Bank and the wow account United Kingdom most likely follow up,wow power the next is not necessarily not the United States, after all, the 80% of the gold reserves in the world are in their hands.
However, certainly in view of the IMF’s gold reserves amount to 3217.3 tonnes, calculated in accordance with current international gold prices, even if all sold, can now only us $ 962. Compared to the hope that the role of the IMF and the international community, still a long way. Further, even if the United States to sell the gold of Fort Knox cellar kept all, thus increasing the liquidity of not more than $ instant gold 243.3 billion, less than 15% of the Obama administration’s FY 2010 budget deficit.
Worse is, in the above assumption, mass action to sell gold, is bound to cause gold prices fell sharply, the results are bound to be re-estimate the effects of the sale of gold.
My view is that China does not have to purchase IMF and other international organizations and countries to sell gold, nor significantly seeking more of the voting power of the International Monetary Fund, not to attempt to become a reserve currency,wow gold the Renminbi, but the shortcomings of international monetary system should be a radical rethink profoundly absorb the best gold lessons of the internationalization of the yen, down-to-Earth internationalization of its currency, currency trading countries under mutually beneficial and cooperative development.