These alarm bells that China should increase its gold and even start building a silver position, plus increase its forex position in non-dollar paper have been ringing louder and louder, and for years now.

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Around 1086, a Chinese emperor commissioned one 40 feet tall, replete with ringing gongs and indicators that told the time of day, date and position of the planets.

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"The position in which Pembrokeshire County Council finds itself will set alarm bells ringing throughout local government, " the authority said.

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"Clearly when clubs haven't got a detailed, finalised plan in front of them, then we need to understand that clubs want to reserve their final position and need to see a final document in front of them before they can give their ringing endorsement, " he said.

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