QUOTE (retaxis @ Sep 5 2010, 02:41 AM)
can you come up with a real source? because otherwise we would be talking about space cows on the rings of saturn holding chinas 5billion tonne gold reserves.
what? you don't how to fu-kin read. I gave you the article, date and page number already. Shih-hui Li; “The Currency Conversion in Postwar Taiwan: Gold Standard from 1949 to 1950”, The Kyoto Economic Review, Vol. 74, pp.191-203 (2005).
The Kuomintang took the entire gold reserve of China to Taiwan in 1949. It was in fact 1,998,000 Metric tons.
Read this from the Kyoto Economic Review:
When Kuomintang (KMT) government decided to undertake the currency conversion on June 15, 1949, it was unaided. The inflation was so severe that the KMT government must have used all the resources to finish the inflation immediately and to restore the public confidence in new currency as well as in the government itself. Under such circumstances, the KMT government established a full gold standard based on the gold reserve which the KMT government brought from mainland China in 1949.
From the middle of 1949 to the end of 1950 the amount of gold releasing from the KMT government was 1,998,000 Metric ton (one metric ton is 32150 troy oz)
Shih-hui Li; “The Currency Conversion in Postwar Taiwan: Gold Standard from 1949 to 1950”, The Kyoto Economic Review, Vol. 74, pp.191-203 (2005).