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Thread: China Imports 245 Tonnes of Silver in February and Qatar SWF "Interested" in Buying Silver

  1. #1
    PeacePlan
    Member

    China Imports 245 Tonnes of Silver in February and Qatar SWF "Interested" in Buying Silver

    China Imports 245 Tonnes of Silver in February and Qatar SWF "Interested" in Buying Silver
    Central banks and sovereign wealth funds with massive exposure to the dollar, such as the Russians and Chinese, are not going to shout from the roof tops their intentions to diversify into gold and silver bullion as this would lead to a surge in bullion prices and an even greater depreciation of their dollar holdings.

    China imported 245.6 metric tons of silver in February. The figure is close to the 260.6 metric tons imported in February 2010 and suggests that the Chinese are more than willing to buy silver at over $30 per ounce. It also suggests that the record Chinese imports of 3,475,394 kilos seen in 2010 (a massive four fold increase from 2009) may be again attained in 2011.

    This demand is likely from the private sector rather than official but it is quite possible that there has been official buying in recent months. This may have come from the Chinese State Administration of Foreign Exchange (SAFE) which manages nearly $3 trillion of currency reserves. The Chinese has experienced the collapse of a paper currency and hyperinflation as recently as 1949 and therefore appreciate the value of gold (and silver) as currencies which cannot be debased.



    http://www.lemetropolecafe.com/james...e.cfm?pid=9115



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  3. #2
    10% of the worlds population took part in the 1970's bull market. The population has risen by roughly 7 times (exponential growth to say the least) since then to 7 billion people. The difference today is that at least 80% of the world population is and will continue to take part in this.

    Couple that with massive inflationary policies and you have a bullish cocktail like the world has never seen.

  4. #3
    According to one source, they (China) imported 3500 tons of silver in 2010- tha tcomes out to 292 a month. 245 would be a decline if both figures are correct.
    http://www.commodityonline.com/news/...36266-3-1.html

  5. #4
    February is one of the lowest demand months of the year. Compare the imports to last years February, not the yearly average.

    Quote Originally Posted by Zippyjuan View Post
    According to one source, they (China) imported 3500 tons of silver in 2010- tha tcomes out to 292 a month. 245 would be a decline if both figures are correct.
    http://www.commodityonline.com/news/...36266-3-1.html

  6. #5
    BWAAAahahahahaha

    (aka, the fabled Mogambo Laugh Of Anger, Outrage And Scorn (MLOAOAS))

    ***FYI, I am not The Real Mogambo Guru (TRMG)***

  7. #6
    Thanks! Slightly down. May also be a supply issue or the fact that prices are double from last year. Either way, that is a lot of imports, even if down a bit from last year.


    Quote Originally Posted by Mogambo Guru View Post

  8. #7
    Quote Originally Posted by Seraphim View Post
    10% of the worlds population took part in the 1970's bull market... The difference today is that at least 80% of the world population is and will continue to take part in this.
    Given that 40% of the world lives on less than $2/day, I think that's unlikely.

  9. #8
    Even with that, the amount of people now within the market place- even if only a bit...is MUCH MUCH MUCH bigger then the 70's. Gold supplies are not much larger and silver is largely used up and consumed by industry.



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