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Topic: [2016-01-10] World’s Biggest Bank Bets on Gold, Shuns 2016’s Top Currency (Read 292 times)

hero member
Activity: 722
Merit: 500
With a vault that big outside its territory it looks as if China is preparing for financial shocks ahead

Betting on Gold, could mean they are likely to be expecting  serious problems over a whole range of economic,political and domestic issues

Sorry Bitcoin but Gold is still king when the going gets tough

Although if it does get messy, Bitcoin might get chosen by some as you don't need a vault Grin

legendary
Activity: 1596
Merit: 1010
The world of traditional finance can be a very strange creature at certain times. With the Chinese economy facing a devaluing Yuan and a major stock market issue, people are wondering how long it will take until the country’s economy implodes. Meanwhile, China’s (and the world’s) largest bank has just bought a lease on a huge London-based bullion vault as a way to diversify its portfolio.

https://news.bitcoin.com/worlds-biggest-bank-bets-gold-shuns-2016s-top-currency/
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