China and Gold- The End of ‘The Era of Ounce’?

I was doing some research this morning on alternative banks. I was curious to find a bank that had offices in the U.S. and Malaysia, because my girlfriend is from Malaysia. I know the Bank of China has an office in Manhattan, and I figured they would have one in Malaysia as well, just being in Asia.

Anyway, when looking at the bank’s site, I saw the following graphic.

I had heard about China advertising the RMB as a sort of new reserve currency, with a gold picture in Thailand a few months back. Sovereign Man blog broke the story, as much as one can beak a story about a public advertisement, here. The sovereign man-highlighted billboard is similar in theme (color, font, etc) to this one. I found this ad interesting because it seems to show the Chinese program of bullion sales for the population at large. It seems like something that is similar to the American Silver and Gold Eagle program, or the Canadian Maple Leaf for gold and silver. I’m still not sure how much China is actually encouraging its citizens to buy gold versus just making it available because of its general popularity. What is particularly interesting is the language at the bottom, “First Edition after the Era of ‘Ounce'”. Hey, at least it didn’t say, “First edition after the error of the ounce.” I guess I will leave it up to the reader to interpret what the Era of Ounce is, although it would seem to be a swipe at the west, given that we use ounces, a Roman/British/American unit of measure, and they seem to use the Chinese tael (50 grams).

Also interesting Is the “secure, preservation, perpetual” on the right side. It looks like that is referring to the BOC more than the gold, given the grey background, but who knows.

Anyway, interesting times, these (especially after this morning’s Zero Hedge article on China liquidating treasuries).


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s