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 Replies: 19 / Views: 2,375 |
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Pillar of the Community
United States
3294 Posts |
Wow, they almost sound like capitalists over there.
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Bedrock of the Community
United States
19961 Posts |
I agree with eaglefoot, they are simply stockpiling for the future while prices are down....they are really smart people, give them some credit.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
10045 Posts |
Well, on the subject of China's industry--I give them a lot of credit for where they are today.  Very good businesspeople. On the other hand, I'm very skeptical of extrapolating the last few years of the metal markets on the future. There's actual consumption by industry, then there's how the avg. joe investor thinks that will impact price. As people like Gxseries have noted many times, predicting actual use against supply is very complicated. Copper is not a bullion metal--its physical properties suit it best for industrial uses. |
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Valued Member
United States
325 Posts |
the industrial uses you speak of may have something to do with power generation in the long term. They may have becom aware of the amount of sulpher dioxide produced in their coal fired plants and are basically thinking green maybe 50 years down the line. Copper does seem to be the most economical mover of electricity and heat that I know of.
Wadda you think?
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Pillar of the Community
United States
6326 Posts |
 I don't think they have any intention of "selling" what they're buying right now at all.....they actually intend to "use" and feel they'll "need" it for many things as a growing/emerging superpower. Quote:
China getting out of U.S. dollars and buying copper at a rate far exceeding amounts they can use in the near future. I think they fully intend on using all of it and more as their appetite for Copper and many other materials will increase like a starving beast as they grow into their unknowable capabilities. It may hurt our feelings in 50-80 years, but China may very well grow into the most powerful Superpower the world has ever seen ! But that "appetite" with that size of population base can also consume possibly more raw materials than the Earth can provide too ! If anybody's noticed .....in the last 10,000 years, Earth's human population has been STEADILY increasing.....NOT "decreasing"......We consume more and more and more of natural resources, etc. And China could one day be the BIGGEST CONSUMER OF THEM ALL ! They may buy the Amazon basin region 50 years from now .... just for the trees !! .... |
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Pillar of the Community
United States
3098 Posts |
Quote:
China getting out of U.S. dollars and buying copper at a rate far exceeding amounts they can use in the near future. Not really yet... they are selling t-notes, but at a very slow pace to not shock the currency markets and lead to economic warfare. So... what's copper used for? All I know is wiring, but any other uses? |
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Moderator
 United States
188770 Posts |
Quote:
So... what's copper used for? All I know is wiring, but any other uses? Lots of things!  |
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Rest in Peace
United States
2668 Posts |
China is trying to finish electrifying their country.
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Moderator
United States
23528 Posts |
 Someone looking for a Copper? opps sorry wrong copper  |
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Pillar of the Community
United States
2734 Posts |
One advantage to a 'copper standard' would be that it would be practical for individuals in 'third-world' countries to hold copper bullion. Also, individuals in countries with a currency being kept by their government at an artificially low value could buy copper bullion, someplace like... China!  |
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Pillar of the Community
 United States
1450 Posts |
From what I have read recently, China is pushing for a floating currency for international transactions, backed by a "basket" of six commodities, gold,silver,copper and 3 others unnamed(at least in the articles I have seen). They are very much against one nation's(insert United States of America here)currency being the reserve currency for the world, especially since it is fiat currency. China wants to be sure any transactions can be paid in commodities of some sort and that the value of the currency will reflect the value of those resources worldwide. Ironically, they are"opposed" to artificial manipulation of currencies(except their own of course).
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Pillar of the Community
United States
3098 Posts |
Wasn't that the whole deal about making the SDR the global currency?
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Pillar of the Community
United States
1450 Posts |
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Valued Member
United States
325 Posts |
what's the SDR? Haven't heard of that.
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Moderator
United States
188770 Posts |
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First Page
Posted 04/23/2009 3:23 pm
