Financial Crisis: Creating Money out of Thin Air

During my trip to Beijing earlier this year at the behest of members of the Chinese government, I had dinner with the President of China Gold, the country’s gold mining the consortium (60% owned by the government).

China is the number one gold producer on the planet, and this fellow has 40,000 employees. He is not only producing gold at home, but is scarfing up gold mines around the planet.

No surprise then to run across article in the Sovereign Society newsletter by Eric Roseman, which says,

“…China is now not only the world’s largest gold-mining industry but also one of the few governments still actively encouraging the domestic consumption and ownership of physical gold. China has a rich history of gold ownership, whereby its citizens have relied on gold as a store of value for several centuries.”

I’m a much bigger fan of silver than gold, but precious metals in general continue to soar as Helicopter Ben Bernanke, creates money out of thin air by the trillions.