''China knows that gold is rigged''

From Market Watch

''A cable from the U.S. embassy in Beijing on April 28, 2009 , brought to light by wikileaks, stated the following in this regard: "According to China's National Foreign Exchanges Administration China's gold reserves have recently increased. 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 toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB.''

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