The government of Red China has just made it legal for its citizens to own gold, and is ENCOURAGING them. China is also encouraging smart cards. Strangely, China has been so eager to bring in foreign investment that it has not put into place the draconian money laundering laws common in the West. Wouldn't it be strange if a communist country was the first to adopt widespread gold-based digital cash? My question is: what is their motive? Unlike the West, in China owning and wearing gold is a status symbol of wealth. With 1.4 billion people suddenly entering the gold retail market, we may see China quickly surpass India as the world's foremost consumer of gold. Even more interesting is the question whether the central banks of the world can conspire to keep the price of gold down against the market pressure of 1.4 billion new gold consumers in a culture that values gold even more highly than most. Based on pure numbers alone, one might think that a 20% increase in the gold buying population would produce at least a 20% increase in the price. Hmmm. HK --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
