On May 17, 2014, I’ve published a post on this website about the Chinese real estate market. One of the sources I had used was an article from a website based in Taiwan called Want China Times. The article was about real estate debt that supposedly was being settled in silver in the Chinese city Ordos. After publication one of the commenters on my post pointed out that Want China Times may not be a very reliable source. This comment raised serious concerns, immediately I sent an email to Want China Times and to the news outlet their article was based upon, the China Securities Journal. I got no respons, but I adjusted my post by adding that I was not fully convinced about the integrity of Want China Times.
On June 2, 2014, Want China Times published another article that was quickly picked up in the gold community. The headline was; Wall Street Concerned Over China’s Gold Hoarding. This time their article was allegedly based upon a story from BWCHINESE.com. After searching the original story on BWCHINESE without succes, I called Want China Times and asked if they could sent me the link to the original story. They told me they would get back to me as soon as possible. Shortly after I received an email:
Dear reader of WantChinaTimes,
As your request on email and a call from Charlie in In Gold We Trust, we have found the story you mentioned in our website comes from an article in BWCHINESE. It was written in Chinese. Here is its link:
Thanks for your mail and call. I hope this info will be useful to you.
Charlie was the gentlemen I spoke to on the phone. I opened the link to the BWCHINESE story and read it through Google Translate. It didn’t take a professional translator to see the story on BWCHINESE and Want China Times had very little in common. The key statements in the article from Want China Times were not at all discussed in the story from BWCHINESE. Therefor, I’m of the opinion Want China Times is completely unreliable.
Unfortunately the articles from Want China Times are willingly being read in the gold community. For myself I can only say I deeply apologize for spreading false information.
Don’t believe everything you read on the internet.