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China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings

  1. OLYHOOCH profile image60
    OLYHOOCHposted 6 years ago

    Here it starts,

    All those who were hoping global stock markets would surge tomorrow based on a ridiculous rumor that China would revalue the CNY by 10% will have to wait. Instead, China has decided to serve the world another surprise. Following last week's announcement by PBoC Governor Zhou (Where's Waldo) Xiaochuan that the country's excessive stockpile of USD reserves has to be urgently diversified, today we get a sense of just how big the upcoming Chinese defection from the "buy US debt" Nash equilibrium will be. Not surprisingly, China appears to be getting ready to cut its USD reserves by roughly the amount of dollars that was recently printed by the Fed, or $2 trilion or so. And to think that this comes just as news that the Japanese pension fund will soon be dumping who knows what. So, once again, how about that "end of QE" again?

    http://www.zerohedge.com/article/china- … d-holdings

    1. dutchman1951 profile image61
      dutchman1951posted 6 years agoin reply to this

      Should br Interesting ride tomarrow watching Gold and Silver head out of sight, a rocket ride i would immagine.

  2. Moderndayslave profile image59
    Moderndayslaveposted 6 years ago

    The working class built this country and the Financial and Ruling class  destroyed it. What is sad is we knew it was coming.

  3. Evan G Rogers profile image77
    Evan G Rogersposted 6 years ago

    The dollar has been worthless since 1933.

    Even though I know that the Austrian's ARE right (they predict a horrible crash), I hope that they're wrong.

    1. dutchman1951 profile image61
      dutchman1951posted 6 years agoin reply to this

      I hope so to Evan, but I fear it is comming.

      A Lot of countries are un-pegging to the dollar and demanding Gold now
      so much for the +- 1% float around the world, 1933 re-visited maybe
      or worse...1929!