Agorism
11-26-2010, 11:07 PM
http://globaleconomicanalysis.blogspot.com/2010/11/spain-portugal-deny-need-for-bailouts.html
Please consider PBOC Researcher Calls on U.S. to Sell Gold, People’s Daily Says
The U.S. should cut its government spending and sell some gold reserves to balance its budget and fund its recovery, the People’s Daily overseas edition reported, citing Xia Bin, an adviser to the People’s Bank of China.
The U.S. has to resolve its “twin deficits” in the government budget and the current account, Xia was quoted as saying. Three ways that may help the U.S. achieve that target include reducing military expenses, selling part of its gold reserves and relaxing some export limits on technology, he said.
“The U.S. has more than 8,000 tons of gold reserves; why can’t it sell some of it since the country wants to raise funds for economic recovery but doesn’t want to add more burden to the fiscal deficit,” Xia told the newspaper.
Here's the punch line, "the PBOC researcher didn’t mention whether China would be willing to purchase any gold from the U.S." Ya think not?
Mike "Mish" Shedlock
Please consider PBOC Researcher Calls on U.S. to Sell Gold, People’s Daily Says
The U.S. should cut its government spending and sell some gold reserves to balance its budget and fund its recovery, the People’s Daily overseas edition reported, citing Xia Bin, an adviser to the People’s Bank of China.
The U.S. has to resolve its “twin deficits” in the government budget and the current account, Xia was quoted as saying. Three ways that may help the U.S. achieve that target include reducing military expenses, selling part of its gold reserves and relaxing some export limits on technology, he said.
“The U.S. has more than 8,000 tons of gold reserves; why can’t it sell some of it since the country wants to raise funds for economic recovery but doesn’t want to add more burden to the fiscal deficit,” Xia told the newspaper.
Here's the punch line, "the PBOC researcher didn’t mention whether China would be willing to purchase any gold from the U.S." Ya think not?
Mike "Mish" Shedlock