Article from DailyMarkets.com
China, one of the largest debt holders of America is considering to buy a bungload of gold because the dollar will be going towards the value of toilet paper. Maybe one of these days we will be wiping our asses with the dollar bill compared to toilet paper because it is simply cheaper.
China has 1.9 Trillion in US Dollar reserves. They are about to spend about 600 billion to stimulate their economy by improving their infrastructure. The USA spends 700 billion that IT DOES NOT HAVE to bailout the stupid, and we get nothing for it. At least China has some nice roads and subways to show for it.
They are about to spend a good $229,785,600,000 (229 Billion for 3600 Tons of gold at $800/ounce) to "Diversify" against the US dollar. So in reality, they are dumping an aggregate of about $850 Billion worth of US money on to the market. That will devalue the dollar along with bringing the price of gold and commodities.
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