China is making preparations for the ultimate demise of the dollar … and so should you.  Stories knocking the dollar never get much exposure in the mainstream media (many outlets wrongly consider it unpatriotic to bash the buck).

But here’s the story in a nutshell. Li Lianzhong, a senior economist in the ruling Chinese Communist Party, directly attacked the dollar yesterday. Li’s message is simple: China should buy more gold because the dollar is poised for a fall. Li also said that China should use more of its $1.95 trillion in foreign reserves to buy energy resource assets.

Speaking at a forex and gold forum, Li asked the very valid question, “Should we buy gold or U.S. Treasurys? The U.S. is printing dollars on a massive scale, and in view of that trend, according to the laws of economics, there is no doubt that the dollar will fall. So gold should be

Gold was dead flat until an hour before New York opened on Thursday, at which point it commenced a daylong rally that pushed it higher, albeit not very dramatically, as it plodded to a finish at $938.90/oz., up $6.80. Overnight, gold is trending higher.

Platinum finally constructed a solid day, adding $20 during the Comex session and ending at $1185/oz., up $27. Overnight, platinum is pushing higher.

Silver buyers kept appearing after every selling spell, slowly inching the metal higher, and it closed just off its intraday highs at $13.99/oz., up 16 cents. Overnight, silver is sharply. (Click here for charts)

A strong day for platinum, though hardly a banner one for the other precious metals. Nevertheless, gold and silver both finished comfortably in the green.

The day’s disappointment had to be that gold and silver didn’t do even better, considering that the usual suspects were leaning in their favor,