I write to you today from Beijing China, to let you know that issue #34 of the Anglo Far-East Global Insider is now available for download.

Duncan Cameron and myself are in China for the 6th Annual Gold and Precious Metals summit where I will be speaking, and then attending meetings with Chinese Government Officials and heads of Chinese Fund Management companies.

The view from China is one of dis-belief, that it is possible the governments of the western world have allowed themselves to get into such an incredible financial mess. On the one hand, China wants the west to succeed because China’s massive export sector relies upon both Europe and the US to have strong economies and lots of happy consumers to buy Chinese goods. On the other hand, highly placed members of the Chinese government are fully aware that depending on the west may be a fools errand and are actively taking steps to become less dependent on exports and further develop the domestic economy.

It is refreshing to see that instead of un-realistically assuming that a never ending series of budget deficits will somehow pay for retirees for ever, they are taking a very practical approach and advocating their citizens invest in long term wealth protection to provide for citizens future retirement. This is critical to the social stability of what is emerging as the new super-power of the world. There is perhaps the highest level of acute attention to this here in China as anywhere else in the world. The last thing China wants is after 20 years of incredible progress, to have it come unwound because of pie in the sky expectations that stock markets or ponzi scheme government retirement plans will prevent social unrest if these systems fail. The Chinese have seen how the western financial models ends up, and they don’t want to copy them.

In this edition of the AFE Global Insider, Duncan does an excellent job of assessing the Geo-political spectrum. He covers the topics of MF Global, Golds performance versus other currencies, his view on the Sydney Gold Symposium which includes an interesting entry on the “Moses Principle”, as well as the evolving situation in the Eurozone.

You can download the latest GI from this link: http://www.anglofareast.com/downloads/global-insider/afe_november_2011.pdf

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