Wikileaked Cable from Beijing: "China's increased gold reserves...."
Written by Ralph J. Benko
September 28, 2011
The US Embassy, Beijing, sends Washington a cable stating that "China increases its gold reserves in order to kill two birds with one stone."
3. CHINA'S GOLD RESERVES
"China increases its gold reserves in order to kill two birds with
one stone"
The China Radio International sponsored newspaper World News Journal
(Shijie Xinwenbao)(04/28): "According to China's National Foreign
Exchanges Administration China 's gold reserves have recently
increased. Currently, the majority of its gold reserves have been
located in the U.S. and European countries. The U.S. and Europe have
always suppressed the rising price of gold. They intend to weaken
gold's function as an international reserve currency. They don't
want to see other countries turning to gold reserves instead of the
U.S. dollar or Euro. Therefore, suppressing the price of gold is
very beneficial for the U.S. in maintaining the U.S. dollar's role
as the international reserve currency. China's increased gold
reserves will thus act as a model and lead other countries towards
reserving more gold. Large gold reserves are also beneficial in
promoting the internationalization of the RMB."
---------------------------------------------------------------------------------------------------------------MEDIA REACTION: U.S.-CHINA-JAPAN RELATIONS, U.S. POLICY, CHINA'S GOLD RESERVES
Identifier:
09BEIJING1134
Origin:
Embassy Beijing
Created:
2009-04-28 08:23:00
Classification:
UNCLASSIFIED
Tags:
OPRC KMDR CH PREL ECON
Redacted:
This cable was not redacted by Wikileaks.
VZCZCXYZ0000
RR RUEHWEBDE RUEHBJ #1134 1180823
ZNR UUUUU ZZH
R 280823Z APR 09
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC 3690
INFO RUEHOO/CHINA POSTS COLLECTIVE
RHMFIUU/CDR USPACOM HONOLULU HI
UNCLAS BEIJING 001134
DEPARTMENT FOR INR/R/MR, EAP/CM, EAP/PA, EAP/PD, C
HQ PACOM FOR PUBLIC DIPLOMACY ADVISOR (J007)
SIPDIS
E.O. 12958: N/A
TAGS: OPRC, KMDR, CH, PREL, ECON
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