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captainpooby
03-23-2012, 08:54 AM
Cool.:cool:

http://english.peopledaily.com.cn/90882/7767136.html




Free gold and silver has been given to 3,000 villagers in Changjiang village in Jiangsu province, Modern Express reported on Friday.

It's the second time the village has handed out gold and silver after Li Liangbao, Party Chief of Changjiang village, promised to do so in 2009. Every villager who did not receive gold and silver in last distribution in November 2010 can get 100g of gold and 100g of silver.

Free safes were also handed out so villagers could keep their bullion safe.

Jiangsu Xinchangjiang Group, which ranks 195 in China's top 500 companies, is owned by the village that has already distributed villas, capital shares and money in past years.

The current price for gold on the stock market is nearly 400 yuan ($63.5) per gram.

Holy_Peanuts
03-23-2012, 09:12 AM
Talk about looking out for your people..

Chump Change
03-23-2012, 09:37 AM
Why?

Why would this company do this?

:confused: :confused: :confused:

captainsilverton
03-23-2012, 09:48 AM
the village owns one of China's top 500 companies, the one distributing the PM's to the people in that town.....why not???, but why?? would love more thoughts...

reading the related stories underneath the article on the page, are as interesting...


INCT

silvercanuck
03-23-2012, 10:02 AM
This company has a "turnover" (whatever that means in China) of $7 billion a year.

Total MARKET price of the "free" gold/silver give away (if to ALL 3,000 people) = $19.3 million

That's 0.2% of their annual "turnover", but maybe even half of that if they acquired the PMs at below market prices -- it is China after all...
(How much are CEO bonuses in the US?)

They probably did it/do it as a way of ensuring the employees won't riot a la Apple Inc. ;)


Just my guess.

shel8483
03-23-2012, 01:26 PM
They are COMMUNIST. True meaning of the word. Do the villagers work for the company? The plan China has is every citizen to own gold and silver. They buy all night long. Who else is driving the price up overnight so we can sell off the next day for 2 bucks a share profit. They take delivery on all they buy. One day they will have all the PM. Day trading silver for small per share profits will end. Watch the hongkong market. They buy after the daytime beatings silver and gold takes during the day. Centeral bank of China is allowing this distributation to happen. China does many things on the sly. But the end result will hit us like a hammer. In years to come all silver rounds you buy will have a panda on them and a huge premium to boot. Just my 2 cents. I just heard they sold 50 billion of our debt for a large bullion shipment they put right in the vault. what better way to unload that much paper and make it vanish right into liquid assets. Watch them ,China has its s##t together.

silvertip
03-23-2012, 01:29 PM
and a free safe to boot
that is cool
:cool:

slv_high
03-23-2012, 03:49 PM
Communism rocks!!!;)

Number 47
03-23-2012, 04:30 PM
It is something we used to have in the west, large employers doing well would gift their employees. I think it was called decency, in Scotland nearly every park was built by industrialists, libraries, schools, decent housing were all perks of the job.

Nowadays they force down wages, remove pension plans and charge you for car parking. What a sorry world we live in when those with take from those without.

Good on that man, the world needs more of these types of business. Perhaps there is hope left for some in the world.

namwalker
03-23-2012, 05:47 PM
Unless my math is way bad, the quoted price of a gram of gold ($63.50) equates to $1,975.07US per ounce (3/23/12 per the Chinese paper quoted). When you compare this price to what Kitco is currently reporting ($1,683.80) the Chinese quoted price is 19% above what we are paying currently.

If Kitco's price is correct then we are getting a bargain when compared to what the Chinese are being charged by their government or by this village owned company. It sure seems that someone is getting fleeced.

What is the old adage of getting something for nothing. It seems that all things are relative.

Vortex
03-23-2012, 06:05 PM
Communism rocks!!!;)

Yeah, Its all fun and games till the head commie gets an eye for Grandmaw ....