China blocks gold and silver purchases
![]() 1952 Friday, 31 July, 2020, 20:10 China’s financial regulator and local commercial banks have begun blocking gold and silver sales to local individual investors, Reuters reported. Officially, their goal is to stop the “speculation” after the prices of both metals have shot up in recent days and reached record levels.In practice, however, the authorities are trying to prevent what in the economy is called “escape to safe value” – a situation in which consumers turn their backs on depreciating money and turn to physical assets with stable value. This was the reason why, in the midst of the Great Depression, President Theodore Roosevelt confiscated the Americans’ gold.Inflation or prosperity: How central banks secretly destroy the standard of living. |
Canada transfers US$1.7bn in revenues from frozen Russian assets to Ukraine
45230.06.2025, 21:40Trump expected to sign executive order easing Syria sanctions
49330.06.2025, 19:58"No wonder Putin found common ground with Iran" - Zelensky joins sanctions against Iran
60930.06.2025, 09:34"Why did Armenia take such a position? Perhaps, not everything is smooth with us" - Lukashenko
123526.06.2025, 20:34#Hürriyet։ "Oil prices will rise if Iran closes the Strait of Hormuz"
199116.06.2025, 16:04Omani fund replaces Russia's Alrosa in Angolan diamond miner Catoca
248809.06.2025, 20:52World's highest railway bridge opens in India (video)
277307.06.2025, 21:19Trump says debt limit should be eliminated
259704.06.2025, 22:52