China hasn’t revealed the amount of its gold reserves since 2009. But in 2009 China Youth Daily quoted State Council advisor Ji Xiaonan as saying, “We suggested that China’s gold reserves should reach 6,000 tons in the next 3-5 years and perhaps 10,000 tons in 8-10 years.” That would make China’s central bank the largest gold holder in the world, ahead of the U.S.’s approximate 8,000 tons of gold reserves. Putting them in perfect position to take over the role of an international economic leader that the U.S. gained through Bretton Woods.
And with our bloated entitlements, out-of-control spending, and gridlocked Congress there appears to be nothing we can do to stop them. But this is just the first step in China’s quest for global domination….
It’s no secret that energy, commodities and other resources are keys to economic growth. It’s estimated that in the next 5 years, 1.5 billion consumers are going to join the ranks of the middle class–all of them demanding TVs, cell phones, dishwashers and cars. Not only that, countries like China will need to build the infrastructure to house, transport and deliver them the energy to sustain a Western way of life.
Which means that they will require huge amounts of energy and resources to meet these demands. This fact has not been lost on the Chinese which is why they’ve been using their $3 trillion in dollar reserves to position themselves for the future….
But China’s doing more than just purchasing resources on the open market. It’s also supplying aid and investments in resource-rich countries. This supplies China with three immediate benefits. First, they obtain the resources they need to sustain a rapidly growing economy. Second, they rid themselves of the huge war chest of rapidly devaluing dollars. And third, they gain powerful allies across the globe in their quest for world domination.