Also, Eric, I was invited to give a speech at the first ever Chinese Gold Congress, which was sponsored by the Chinese government and the 5 big gold companies, including (state owned) China National Gold. There was a heavy Chinese government representation (600+ attendees). The fact is that the Chinese remain bullish on gold and they have been buying up to 1/3 of world supply.

All five Chinese producers echoed that their reserve life is something that concerns them. So all of them are looking internationally to acquire reserves in the ground. Even the president of China National Gold said that the renminbi, which is becoming internationalized, should have a gold backing.