Gee, the largest bank in the world has just pledged to promote its gold business to its small base of only 212 million customers.

R.I.P. NY Cartel - VHF

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Commercial Bank of China To Promote Gold Biz

CommodityOnline

April 15, 2010

Steadily increasing interest payments will force a "crisis of confidence" in the dollar, a trend that is likely to support rising Gold Prices.

That is according to investment expert Marc Faber, author of the Gloom, Doom and Boom report, who wrote on is website that interest payments will become large enough in relation to tax revenue to prompt the US government to print money.

"The question is will there be a crisis of confidence in all paper monies and what will the reaction of investors be?" he questioned.

"I would imagine that when the crisis really emerges, you'd see people flee from all paper currencies into precious metals."

This is a path of action that Chinese investors could already be taking, with a growing number Buying Gold.

According to Forbes, the Industrial and Commercial Bank of China - the largest bank in the world by market value with $1.6 trillion in assets and 212 million customers - has pledged to promote domestic demand for Gold Investment in the country.

The magazine added that for many gold bugs, physical gold and shares in mining operations remain the preferred investments, ahead of exchange-traded funds.