News just gets more bullish for gold all the time. While we here in America try to revel in rumors of recovery, China is gathering gold like pumpkins before Halloween. Do they know something we don't? If you own gold, the answer is no they don't know anything you don't. If you don't own gold wake up and smell the dead fish.
According to an article by Lawrence Williams, posted on Mineweb.com February 3, China has imported an amount of gold in 2010 that equals near 25% of global production. Please click here to get all the details. Which means, between India (still world's largest consumer of gold) and China, more than half the annual global production is going to those two countries.
Here in the U.S. the opposite was true as the World Gold Council reported gold demand eased in 2010. We may be the only place on earth where gold demand subsided. The Europeans don't seem to be able to get enough, even poor Greeks were buying gold for a time at $1700 dollars an ounce. Then Arab countries gave the world the gold vending machine.
All the while here, investors chose to take a bite of the AAPL over gold and stocks are in a recovery rebound. Being ignored is the fact that hundreds of billions - no trillions of dollars have been pumped into the economy to prop it up.
Definitely, as you listen to the talking heads, Gold is given the kind of respect even Rodney Dangerfield would have appreciated. No, I don't want the stock market to crash and I don't want any more people to lose their jobs. What I do want is for people to avoid complacency. Debt got us into this mess and now we have a few trillion more of debt than when all the trouble began.
At last glance, each and everyone one of us men, women and children is in debt to the tune of $45,422.72. Check out this debt clock widget. I'm getting fixated on it. That's not to include any debt you carry on your own. And if you're a newborn baby reading this, you were just born with a $45,000 bill to pay.
That's what the Chinese know that we don't. Our debt is unsustainable now and within weeks we are likely to get license to accumulate even more as the Congress is called to vote on raising the debt ceiling above the current $14.3 trillion mark.
In the end, he who holds the gold will make all the rules and at this rate it won't be us. Let me give you one more sign that foreign gold demand is putting the hurt on gold supply. For fun, I again went to the U.S. Mint website. They are still not producing American Gold Eagles. Why? Because they are out of gold!!!
Shouldn't that tell you something? If you don't have gold yet, it's time to lock in a few gold coins. Visit LearCapital.com for incredible online pricing and pay attention. Lear will even give you a real-time gold price widget for free to have on your desktop. News is everywhere - gold is the place to be. But then that's just my opinion.