China and Buying Hard-Assets???
Now that the Chinese are using their hoard of US Treasury Bills to buy, according to the London Daily Telegraph dated April 15, 2009 *, and hoard the metals instead and thus are cornering the commodity metals market I wonder what the manipulative effect will be on the rest of the world economies. Perhaps this may potentially and eventually to be no different than the Hunt bothers scenario? It probably will be that “those that have the metals control the world-economy”.
Watch out USA, your excessive issuing of treasury bills, that you thought was only worthless paper, to the rest of the world may now come to bite you in the posterior. Wait for the rest of the world economies to wake up and convert that worthless paper into Hard-Assets and stockpile them as well. * London, April 15, 2009Excerpts from the Daily Telegraph China's State Reserves Bureau (SRB) has instead been buying copper and other industrial metals over recent months on a scale that appears to go beyond the usual rebuilding of stocks for commercial reasons. Nobu Su, head of Taiwan's TMT group, which ships commodities to China, said Beijing is trying to extricate itself from dollar dependency as fast as it can. and Beijing may yet buy gold as well, although it has not done so yet. The gold share of reserves has fallen to 1pc, far below the historic norm in Asia. But if a metal-based currency ever emerges to end the reign of fiat paper, it is just as likely to be a "Copper Standard" as a "Gold Standard".
Click here for the full April 15, 2009 Daily Telegraph article
For now, listen to the music and - - - be in Hard-Assets to Win It!
Nick L. Nicolaas
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