Tuesday, March 8, 2011

On Gifts We Prefer Cash

The Gold Rush China, a sign of a global financial crisis?

Economy / Attilio Folliero and CeciliaLaya


In China it seems that the fever broke out of ' gold. It is known that the oroè one of the rarest metals, precious and therefore, existing the world. According to the datas of World Gold Council , the World Gold Council, on the ground there sono165.000 tonnes of gold mined during the whole course of human history to have an exact idea of how little the amount of gold existing Bastad that all the gold in the world would come into a room 20 feet long, 20 meters deep and still largasempre 20 meters, or a cube. E 'therefore, the rarity of gold make this great good.

Negliultimi years, the hyperbolic Cinasta experiencing a fast economic growth, so that nel2010 è diventata la seconda economia del mondo ed entro pochi anni diventerà la primaeconomia del mondo , sorpassando gli Stati Uniti.

Ovviamente,la crescita economica della Cina si riflette anche e forse soprattutto nelconsumo di oro. Sempre secondo il citato World Gold Concil, nel corso del 2010la domanda di oro in Cina è stata di 579,5 tonnellate, più del doppio rispettoa quella statunitense, arrivata a 233,3 tonnellate. Secondo quanto riportato da Forbes ,il 25% della produzione mondiale di oro finisce in Cina. E’ tra i precursori cheimboccarono con decisione la strada dell’incremento riservadella gold in its central bank.

Dal2007 China, which has surpassed South Africa bored, is the world's leading producer of gold last year, Enel has a produzionerecord of 340 tons. Though, is now the main produttoremondiale of gold, the huge domestic demand in 2010 has grown leimportazioni five-fold over 2009. During the first month del2011, the Gold Rush had a strong surge, given that the BancaIndustriale and Commercial China has sold about 7 tonnellatedi physical gold, against the entire 15 tons 2010.

China, therefore, has a real fever for gold, maperchè increase purchases of the yellow metal? It is not easy to answer, but you can make some assumptions. First, it could protect propriinvestimenti international markets by diversifying the use of pyramidal eccedentemonetario generated by exports. So far, the biggest investment by erarappresentato paper dollars and debt securities of StatiUniti. In fact China holds the largest reserves in the world dollars, more than 2,800 billion, in addition to being the country with the highest debt laquota pubblico statunitense (altri 1.160 miliardi sempre indollari). Altra possibile spiegazione di questo accumulo d’oro sarebbe la necesita di tutelarsi contro i forti rincari dei beni agricoli,in tal senso la FAO mette in guardia contro l’impennata dei costi, e la BancaMondiale pronostica scarsità del cibo e possibili ribellionia macchia di leopardo.

Non mancano altre ipotesi, anche inquietanti. La Cinavorrebbe imporre al mondo, come moneta di riserva mondiale il Yuan, la suamoneta, in sostituzione o parallela al moribondo dollaro. A tal fine ènecessario che –oltre the driving force of its economy-is rispaldata, also guaranteed and protected by gold. If China decided to accelerate the increase delleproprie gold reserves, as a step to internationalize ilyuan necesaria, we can well expect a significant leap upward in the gold price. According to various sources we are going at a fast pace towards this scenario. Adesempio, Chuck Butler, president of EverBank provides that the gold in prossimianni can reach $ 5,000.

One thing seems certain, however. According to the Wall Street Journal , China from next April will allow its currency other conversionediretta currencies, and this in order to promote trade efacilitare of its traders.

E 'to exclude the possibility of replacing the dollar with gold unamoneta, as stated in paragraph 1 of Article 4 of the Accession Treaty alFMI, ratified in 1978, but have to add that before sconvogimentitotali and the reconfiguration of the hierarchy of the emerging multipolar nell'epocadel real economies, these agreements could go oridefinirsi rolls, so even this assumption is not so fantaeconomia. Persinoil Brazil, the G20 last conclave, expressed out loud propostadi replace the dollar with a basket of currencies (including the yuan, the real carioca, the currency of South Africa etc.). For some time, Russia has ruled Perun similar or alternative solution along those lines. The great hegemony of the financial debacle, made visible from the public to its main church (Wallstreet and Citylondinese) resulted in a shift of resources towards commodities, gold, food production, that is not tangible more paper.

The GDP of the United States is made up again by the "financial products" and export-sector crossings (who lives fondamentalmentecon the state budget). The North American consumers, in reality consumanotroppe everyday goods imported from China.

During the last visit of Chinese President in Washington, we saw an unexpected reversal of perspective. China has signed the contratticon Boing for 600 million dollars in return, Obama has had to listen maximum Chinese leaders say the White House in full dollaronon is eternal, has already completed its main function , and you go versoun'evoluzione. Who would have imagined five years ago? The reality superaquasi always fantasy.

In other words, Hu Jintao, has declined to openly sultavolo cards and most importantly, not a chance, nor a stunt, he could farloperchè the muscles needed to defend with energy its arguments. Lasettimana prior to the visit of Hu-Jintao, exactly on January 11, Lacina has tested with the huge success Jian 20 Fighter (J-20), chefornisce the superiority-or high-competitiveness in areas where sidetermina an important part of the strategic hierarchy . Gli Stati Uniti sisaranno ricordati del loro gioiello costretto ad atterrare dall’aviazionecinese dopo aver violato la sovranità aerea.

  Cacciabonbardiere cinese J-20

L’ultima ipotesi, la più inquietante, e per questo lasciata perultimo, è che la febbere dell’oro di Pechino è dettata dalla certezza che siamoalla vigilia di un altro terremoto finanziario mondiale. Tutti i Paesi e legrandi economie occidentali, industriali sono altamente indebitati ed i lorodebiti pubblici sono praticamente insostenibili, impagabili. La Cina diagnosticae pronostica quel che è a tutti gli effetti il “tracollo occidentale”, e correai ripari per tutelarsi da questa possibile ed imminente crisi financiaríamondiale. Siamo alla vigilia della grande crisi, momentaneamente superata negli anni 2008 e 2009 con I grossi trasferimenti di denaro pubblico alle banche ed impresein crisi?
 
Fonte: ucv-italiano.blogspot.com - claya55.blogspot.com
Attilio Folliero e Cecilia Laya,Caracas 27/02/2011/Aggiornato 08/03/2011

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