{"id":67814,"date":"2024-05-02T18:29:10","date_gmt":"2024-05-02T23:29:10","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67814"},"modified":"2024-05-02T18:29:10","modified_gmt":"2024-05-02T23:29:10","slug":"record-pboc-gold-purchases-may-indicate-that-china-is-planning-to-invade-taiwan-experts","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67814","title":{"rendered":"Record PBoC gold purchases may indicate that China is planning to invade Taiwan \u2013 Experts"},"content":{"rendered":"
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Record PBoC gold purchases may indicate that China is planning to invade Taiwan \u2013 Experts<\/a><\/h3>\n<\/div>\n<\/div>\n
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(Kitco News) \u2013 China\u2019s massive and sustained central bank gold purchases are raising fears that the country may not only be shoring up its currency but may also be laying the economic groundwork for a full-scale invasion of Taiwan, according to a Telegraph\u00a0report<\/a> published Tuesday.<\/p>\n

\u201cThe relentless purchases and the sheer quantity are clear signs that this is a political project which is prioritised by the leadership in Beijing because of what they see is a looming confrontation with the United States,\u201d Jonathan Eyal, associate director of the Royal United Services Institute (RUSI) in the UK, told the newspaper. \u201cOf course, it\u2019s connected also to plans for a military invasion of Taiwan.\u201d<\/p>\n

China\u2019s gold-buying spree began in October 2022, building up its official reserves to a record high of 2,262 tonnes, valued at $170.4 billion at current prices. The People\u2019s Bank of China (PBOC) added 27 tonnes of gold in just the first three months of 2024.<\/p>\n

The PBoC\u2019s current purchase streak came shortly after the United States and its Western allies froze $350 billion in Russian currency reserves held at foreign central banks in response to its invasion of Ukraine.<\/p>\n

\u201cThere is absolutely no question that the timing and the sustained nature of the purchases are all part of a lesson that [China] have drawn from the Ukraine war,\u201d Eyal said, adding that China\u2019s burgeoning gold reserves are an attempt to insulate the country from the impact of U.S. dollar sanctions if and when it launches its own invasion.<\/p>\n

\u201cIt was a major shock that it is possible to take sovereign holdings and freeze them,\u201d Eyal said. \u201cI think that was a fundamental change as far as Xi Jinping was concerned.\u201d<\/p>\n

President Xi Jinping devoted\u00a0a part of his New Year\u2019s address<\/a> to the nation to calls for reunification with Taiwan.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Record PBoC gold purchases may indicate that China is planning to invade Taiwan \u2013 Experts (Kitco News) \u2013 China\u2019s massive and sustained central bank gold purchases are raising fears that the country may not only be shoring up its currency but may also be laying the economic groundwork for a full-scale invasion of Taiwan, according […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,130,34463,374,34462,2615,23946,1442,827,834],"class_list":["post-67814","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-china","tag-ernest-hoffman","tag-gold","tag-kitco","tag-peoples-bank-of-china","tag-previous-metals","tag-taiwan","tag-united-states","tag-us"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67814"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67814\/revisions"}],"predecessor-version":[{"id":67815,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67814\/revisions\/67815"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}