The economy is not good to see how much gold
xinlangcaijing· 2016-05-26 14:52:36
< p > / Reuters opinion leaders column (micro channel number of public kopleader) columnist Xiao Lei < gold can't create wealth, but gold is still considered wealth is the most basic pricing model, 1949 Chiang Kai Shek and not the currency of the Republic of China "jinyuanquan" shipped to Taiwan, and first shipped is placed close to 300 tons of gold in the Treasury of Shanghai. The flow of gold can represent a country's economic and financial strength. "Content img P" > economic
, US GDP denominated in gold why will shrink?
see changes in a country's economy, there are many kinds of way, such as gross domestic product (GDP), GDP per capita, urban level, life expectancy, steel production, higher education popularization rate, enterprise competition ability, social welfare level, capital market volume and so on. Generally speaking, the change of this kind of data and a country's overall economic history or periodic changes of complement each other. On the other hand, a country's economic data are often subject to a greater impact on the exchange rate.
, such as the United States GDP if calculated with gold, the results will be a surprise. 1971 the dollar to gold at a fixed exchange rate last year, when the dollar denominated gold prices is 35 dollars / ounce, 1971 the United States GDP about $1.2 trillion, equivalent to about 100 million tons of gold; just past 2015, U. S. GDP to about $1.7 trillion, by 2015, the international price of Gold Flat were $1050 / ounce this numerical and converted into gold to 50 million tons. That is to say, in 1971 the United States GDP has reached the level of 1 million tons of gold, while in 2015 dropped to 500 thousand tons of gold levels, reduced by half.
in the calculation of GDP, the assessment of the sovereign credit currency exchange rate changes and other aspects of gold, why can be used as a reference to it? The main reason is that in the past half a century, an average of about 3% of the annual gold output growth, which with the United States and other developed countries, average economic growth rate of consistent, and money growth is far greater than the economic growth, with gold denominated actually more accurate. Also, gold in a long period of time, or play a role of money, either with sovereign credit currency forced "fixed", acts as the credit endorsement, gold is still the important part of the foreign exchange market, so in gold valuation is not special choice.
two, the most powerful in Britain and the United States, why is the vault when demand is the biggest?
gold can't create wealth, but gold is still considered wealth is the most basic pricing model, 1949 Chiang Kai Shek and not the currency of the Republic of China "jinyuanquan" shipped to Taiwan, and first shipped is placed close to 300 tons of gold in the Treasury of Shanghai. Gold as a financial asset is equivalent to wealth, its flow direction itself can represent a country's economic and financial strength of the changes, this change is revealed by the information, it may be more true.
London is still the world's important "Treasuries", the Bank of England's underground vault, is second only to the Bank of New York's Federal Reserve Bank of the world's second largest vault. It is estimated that there are still 5200 tons of gold, and only a very small part of the British Ministry of Finance (about 310 tons), as Britain's gold reserves. Others close to 5000 tons of gold reserves, are other countries and financial institutions and investors holding gold. < p > so why Britain is able to keep the gold for other countries and financial institutions, the main reason is in the 19th century, British economic globalization and the British comprehensive strength rise, tilt the global trade to the British pound to the world. At the same time, most of the world can be the circulation of gold flows to Britain, London has become the world's largest gold distribution. Sterling globalization, not only in exchange for the world's low cost of goods and raw materials, but also in exchange for a large number of gold and silver. Since the beginning of the
20 century, the United States in the field of trade and other fields to gradually replace the United Kingdom, becoming the world's largest trading market, accompanied by the internationalization of the U.S. dollar, as well as global gold flows to the United states. Up to the time, the Fed's gold reserves accounted for 2/3 of the world's official gold reserves, more than 22000 tons. Today, the world's largest Treasury still in New York, being more than 7000 tons of gold, but the gold is not us all, but a symbol of America's financial strength, global governments, organizations, and private holdings of gold, need in New York vault to complete the transaction and storage. The United States owns 8100 tons of official gold reserves, are stored at the military base Fort knox. < p > can provide worthy of trust and liquidity is very strong market, the ability to have a sufficient volume of trade, whether the leading global rule making, which seems to be a measure of the main embodiment of comprehensive strength of a country, but if a country can for others keep gold, has the world's largest gold vault, perhaps it is better to illustrate the strength and credit level. < p > however, since the 2008 financial crisis, many countries said to carry their own gold from London and New York, for a period of time caused a panic in the market. In fact all over the world stored in the gold reserves of the United States really never audited, a lot of rumors that the United States has diverted a lot of gold, worried about the risk of a run on.
if the dollar is strong enough credit, all countries in the New York underground vault gold as a no real use of the assets, as long as the U.S. commitment equivalent to the U.S. dollar, governments do not have to worry about the. The question now is, you have to be transported away gold, exactly is the long-term value of $feel uneasy, since 1971 gold peg to the dollar since, several rounds of shear wool devaluation, to many countries that hold dollar reserves actually brought very big loss.
three, the Chinese market, "Treasury" needs to expand what it means?
2013 end of the year, China Shanghai Free Trade Zone, a large vault can store 2000 tons of gold began to put into use, the vault covers an area equivalent to 3 basketball games. This is only a beginning of the Chinese market demand for Treasuries, to know that only in 2015 the Shanghai gold exchange annual gold output reached 2580 tons, and these gold need to vault to store. Last week, ICBC standard bank bought Barclays in a vault in London, which is said to be able to store 2000 tons of gold, one of the largest in Europe. < actually in the Chinese market demand for gold is still large, in 2013 to 2015 three years time, China through Hong Kong imported nearly 3000 tons of gold, the gold is not only used for jewelry and other market, and a large part will become the gold standard to enter the "Treasury". Recently, Hong Kong, gold and silver trading market, said the next two to three years, in Qianhai in Shenzhen Shekou FTA construction to accommodate 1500 tons of gold "golden library" to solve the domestic gold industry chain docking and trade process of warehousing and delivery problems. < Chinese market of Treasury demand is still expanding. Last year, Bloomberg News reported. The total value of precious metals held by the industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China of the four major state-owned banks to 37.8 billion yuan, according to was 262 yuan / grams, equivalent to 1445 tons of gold, compared with the same period in 2013 increased 55%. In addition to the gold held by the commercial banks and all kinds of financial enterprises, private and non financial institutions to hold the golden number also on the rise, with an annual increase of hundreds of tons of investment gold bars demand ultimately requires greater distribution and storage sites. < Chinese market "Treasury" demand rising, the fundamental reason is the comprehensive strength of the Chinese economy as a whole rose, and economic development to a certain extent, the cognition of wealth in financial markets began to change, from simple wealth creation level, into seeking safer asset holdings. Whether from China's central bank continued holdings of gold reserves, or the rapid expansion of private demand, are described as a treasure of gold as a kind of means of storage, is following the volume of China's economy together with a historic change. < in the Xijin eastward "is in full swing, a measure of the strength of the Chinese economy and finance, and international credit level of the one cannot ignore the factors, perhaps China can have the world's largest" vault ", for others to keep gold, can create the most active international gold market, push up the renminbi valuation and the value of the transaction, the successful completion of the internationalization of RMB.
(the author of this article: financial columnist)
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