QUOTE(dinodrumz @ Jun 5 2011, 05:45 PM)
Well, the US currency will eventually demonetize as the US $ is currenctly in ICU.
You can see the state of Utah has already legalized gold and silver and a legitimate currency. Once the US currency falls. Israel will emerge as the next superpower replacing the US. China knows this, that's why they are stocking up on as much gold as money can buy.
Every Jew in the world knows that Gold & Silver is the only valid currency. Paper money is worthless. Also people need to understand that buying gold is not an investment but is to actually protect your wealth from being manipulated/inflation. Rm10K now and 5 yrs down the line is not the same.
I only wish I could withdraw my EPF and convert it all to gold.
My 2 cents though.
Agreed Bro, about China but it may have been taken out of context
http://www.marketwatch.com/story/chinas-go...r-right-reasonsThe main thing is balance / several baskets (of Asset Categories) i think, perhaps i read it wrong
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But governments don't want to lose control of the printing press and don't want a gold standard either, said VRTrader.com's Leibovit. That is, "unless a plan is underway to peg gold to their currency at a substantially higher price, which would create a huge asset that would act as a counterbalance to their huge national debt," he said.
Still, it's possible that gold can return to a monetary role of backing up the value of currencies. "The implications for gold returning to a monetary role are tremendous and gold-price positive," said Phillips.
Really, "there is no alternative, but the question is when," said Leibovit. "Another financial shock could do it, causing distrust of any paper investment."
But Jon Nadler, a senior analyst at Kitco Bullion Dealers, points out that all of the world's above-ground gold amounts to around 0.6% of total global wealth, so even if gold were at $10,000 per ounce, the metal would only amount to 6% of total global wealth.
"That does not begin to make for a panacea for what ails the world," he said.
Even so, an important country such as China should continue to seek to diversify its massive holdings, and so should the average investor, he said.
Just don't diversify with the "disingenuous idea" that this is a "sign of [a] fuse being lit under gold," Nadler said. "It's just insurance being bought .... A little bit at a time."
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In addition, OF COURSE RM10K now isnt RM10K purchasing power in 5 years down the road. Inflation mar
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Oops - missed this out - not just gold but China's chasing a truck load of commodities AND commodity producing companies (think STOCKs and mutual funds buying these stocks
) too
http://www.asiaone.com/Business/News/Story...503-276935.htmlThis post has been edited by wongmunkeong: Jun 5 2011, 06:49 PM 
Jun 5 2011, 05:42 PM
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