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It appears that China has decided to purchase about $6,000 tons of gold soon.
That's more than is reputed to be stored in Fort Knox.
The United States Bullion Depository holds 4,578 metric tons (5,046.3 short tons) of gold bullion (147.2 million oz. troy). . . Even so, the depository is second in the United States to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7,716 tons) of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.
China is preparing for a new asset-backed monetary system as the old western model collapses. It is said that the new system of settling payments internationally will be in gold.
http://www.mining.com/china-set-lift-ban-on-interbank-gold-trading-further-boosting-demand-92259/
China is preparing to launch direct interbank gold trading – a banned activity at present – at the end of August as part of a broader set of banking reforms.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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