China Buys Gold

The country wants to "protect itself from the global crisis and the possible devaluation of the dollar" — China increases its gold reserves. From the report:

For years there have been rumors that Beijing has been steadily buying gold, with the intention of protecting itself from possible collapses in foreign currencies, especially the U.S. dollar. Experts observe that this announcement leads to the conclusion that China intends to buy more gold, proof of increasing lack of confidence in the U.S. currency, and also confirmation of its role as a global superpower.