Rand Refinery Rand Refinery Rand Refinery (Pty) Limited is the largest integrated single-site precious metals refining and smelting complex in the world. It was established in 1920 to refine gold within South Africa which until that time had been refined in London. Since its inception it has refined nearly 50,000 tonnes of gold. This represents some 30% of all the gold mined in the world since antiquity. It was established in 1920 in Germiston, South Africa, by the Chamber of Mines of South Africa to refine all the gold produced by South Africa's gold mines instead of in London. As of 1919,
Currency War of 2009–11 fast that it would lead to social unrest in China, bankruptcy for export dependent companies and "disaster for the world". In October, China posted a record surge in its foreign exchange reserves, which was seen as a "target around the neck of China’s exchange rate regime" in the effort to get the country to allow its currency to appreciate. In reaction, Geithner suggested China’s attempts at limiting gains were the reason for capital controls and currency-market interventions in other emerging economies. "What’s happening is, as China holds its currency down, their currencies are moving up and they’re having to work