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WHY DOES POLAND BUY GAS FROM RUSSIA? [105]
it still doesnt have that much of an actual capital base
I might disagree with you here.
China 6th largest holder of Gold
HONG KONG (MarketWatch) -- China has boosted its gold reserves to 1,054 metric tons, according to a Friday report by Xinhua News Agency, which cited Hu Xiaolian, head of the State Administration of Foreign Exchange.
The increase makes China the world's fifth-largest holder of gold, just ahead of Switzerland, and among the six nations plus the International Monetary Fund that have reserves of more than 1,000 metric tons.
Hu said that China's gold reserves had risen by 454 metric tons since 2003 and that the total was being reported to the IMF per the organization's rules.
Worlds biggest foreign currency reserves
July 15 (Bloomberg) -- China's foreign-exchange reserves, the world's biggest, topped $2 trillion for the first time as the nation's economic recovery prompted overseas investors to pump money into stocks and property.
The reserves rose a record $178 billion in the second quarter to $2.132 trillion, the People's Bank of China said today on its Web site. That dwarfs a $7.7 billion gain in the previous three months.
I wouldn't underestimate the Chinese financial picture. The government keeps a great percentage of the inflows of cash in their coffers, regardless of who makes what.
Question is will they be able to cash it in,
Maybe not dollar for dollar, but I am sure they will play hardball (financial or otherwise) if push comes to shove.
