Bron Suchecki, Manager of Analysis and Stratagy for The Perth Mint discusses China and gold.
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Yep!
Big Al
AL…2011 figures..Population of China Approx. 1,344,130,000….World population Approx. 6.7 billion…which means 20% of the worlds population are Chinese = 1 in 5 people on the planet are Chinese…..Lets just take half of that number, & assume that they own on average 1ounce of gold each….thats a lot of gold , on top of what the government holds. As there is a lot of doubt about what America is suppose to hold, it could turn out that China has more, I dont believe anybody knows what China produces from their own mines, but i would hassared a guess its a lot….If any body has any idea please let me know.
irishtony,
In this report http://www.perthmintbullion.com/blog/blog/12-09-19/How_Much_Gold_Does_China_Have.aspx I calculate that China has 6,355 tonnes in the country with 1,560 tonnes of that held by their central bank and the rest by their citizens.
It works out at around 0.1516 ounces per person, compared to India’s 0.4782 ounces per person.
Bron…Thank you for the info & the link…..O by the way Welcome to BIG AL’s club of free thinking people.
Free thinking? I’d say using one’s brain to just “think” at all is the problem with most people these days! Nothing infuriates me more than “because its always been done that way” or “that’s what everyone else is doing”
HI Bron,
I completely agree with you!
Big Al
Many thanks for the insight, Bron.
Again, great job in the interview!
Big Al
A BIG FAT yep! Irish.
BTW, the download is a little slower BUT I STILL ONLY GOT PORTION OF THE SHOWS….this one cut off at APPROX the 4:30 minute mark.
Marc
I have forwarded this to Sarah.
Big Al
Very interesting Mr. Irish!
I did not realize that 20% of the world’s population was Chinese.
Big Al
I think you over-estimate the wealth of the average Chinaman, who is still poorer than the average irishman. However the time will come.
That too, was my thought cfs!
Big Al
cfs……Thank’s for that correction…I am just trying to get some idea of how much gold the public holds..BTW…Thank you for all your imput over the last few days, we all apprecate it.
A good piece by PENTO, over at KWN.
It would not surprise me if the prosperity site I give below had data on personal savings per capita in China. That site contains a lot of data, although not always easy to extract it.
I previously stated that I love the US. Indeed, that is my preference for a country in which to live (I do for about 4 months), however for personal historical reason my primary house in the US is in Indiana, and not in a perfect climate such as California. So I migrate with the season and spend almost 4 months a year in England and travel; often to be found in the Caribbean or the Med.
I wish to be to folks attention one of the better websites by which to compare countries:
http://www.prosperity.com/rankings.aspx
I would point out that the US has been slipping down the table steadily, losing a place every two or three years. The US is currently down to #10
And that, cfs, is a very strong statement about our country!
Big Al
Meanwhile the French are revolting:
http://www.telegraph.co.uk/finance/financialcrisis/9577534/Francois-Hollande-faces-protest-over-fiscal-pact.html
cfs…..i believe JERRY the box lives in the same state, might be an idea for you two to meet up for a chat.
JERRY….If you read this i sent you an Email about some collectable silver.
IRISH….got the email, and returned email with answer….check your email….thankootb
JERRY . Thank you for the reply , just read it.
Interesting Al.
I was just thinking about a year or so ago writers for the sector were saying about 2% of the population understood gold/silver. You were saying 2-3% today. Sure a guess but thats about a 50% increase and if that were to continue its not gonna take too long to put some real preasure on the price.