China Just Bought Gold at RECORD LEVELS | Massive Dollar Devaluation Coming

China has been buying a lot of gold in recent years for a number of reasons. One of the main reasons for China's large purchases of gold is to diversify its foreign reserves, which are currently heavily concentrated in U.S. dollar-denominated Treasury bonds. This concentration leaves China vulnerable to changes in the value of the dollar and gives it less control over its own economy. By buying gold, China can reduce its reliance on the dollar and gain more independence.

As of 2019, China's foreign reserves were reported to be around $3 trillion, with only 2.5% of that amount being gold. This is relatively low compared to other countries, and China has been working to increase its gold reserves in recent years.

Central banks around the world continue to buy gold as a way to protect against economic uncertainty and maintain a stable reserve of value. This is particularly important for countries like China, which has a large and growing economy and wants to have more control over its own financial system. Buying gold can help to achieve this goal, as it provides a stable and reliable asset that can be used to help weather economic storms.

"Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost." - Ben Bernanke.

A strong economic relationship between China and Saudi Arabia is important for both countries. For China, Saudi Arabia is a key source of oil, which is essential for its growing economy. A strong economic relationship with Saudi Arabia allows China to secure a stable and reliable supply of oil.

In addition, China wants to reduce its dependence on the US dollar, and Saudi Arabia is one of the key countries that China is looking to for alternative sources of trade and investment. For Saudi Arabia, a strong economic relationship with China provides access to a large and growing market for its oil exports.

Additionally, Saudi Arabia is looking to diversify its economy and reduce its reliance on oil exports, and a strong relationship with China can provide opportunities for investment and collaboration in other industries.

TOPICS AND TIMESTAMPS:
China Mystery Buyer 0:00
China On The Move 7:50
Economy and Recession 12:26

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Sources Used in This Video:
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