The Chinese Want A Gold-Backed World Currency

[AuDiBelle]

Originally Posted by uggabugga

he's right, at least as of 2008.

China now world's largest gold producer; foreign miners at door - MarketWatch

According to this list, China comes in behind the US at #4. I don't think that's really China's motivation anyhow. It's more about moving away from the USD than moving toward a gold standard.

[uggabugga]

Originally Posted by whatyousay

According to this list, China comes in behind the US at #4.

that link appears to be pretty dated. here's another source:

GOLDSHEET - HISTORICAL WORLD GOLD PRODUCTION

and one more: China says 2010 gold production hit record high - BusinessWeek

as far as gold reserves, china is #6 according to this.

I don't think that's really China's motivation anyhow. It's more about moving away from the USD than moving toward a gold standard.

yeah, i agree with that.

[archineer]

Theres not enough gold in the world for it though.