peaceandlove
07-25-2009, 04:58 AM
From one of my favorite commentators, Mike at Fever I Am.
China dumps Treasuries for "real stuff"
WEDNESDAY, 22 JULY 2009
China dumps Treasuries for "real stuff"
I might be on holiday, and miles from "civilization" (or at least a wi-fi connection!) But I am still watching :-)
It seems China has figured out what to do with it's over 2 trillion in USD debt... It's going on a spending spree!
From yesterday's FT this article was emailed to me by a viewer...
China to deploy foreign reserves
http://m.ft.com/cms/s/0/b576ec86-761e-11de-9e59-00144feabdc0.html?catid=20&SID=71309797ad69d5d24806418f140c34d3
It is a smart move for China; dump what it has in dodgy fiat currency and put it into 'real' assets.
Must go off and have a look at what Ambrose thinks of this!
And remember what I said about Commercial real estate 4 months ago? Morgan Stanley and Wells Fargo reported huge losses on it - and it is only going to get worse. Never mind what businesses will do when Novel/Swine Flu really hits in Sept (telegragh and FT).
Next up is Credit Card losses - they will really take off come Sept/October
Peace and Love
(And buy some gold or silver or food stuffs; things are beginning to accelerate! Time is short :-( )
POSTED BY MIKE AT 23:59
SOURCE: http://feveriam.blogspot.com/2009/07/i-might-be-on-holiday-and-miles-from.html
China dumps Treasuries for "real stuff"
WEDNESDAY, 22 JULY 2009
China dumps Treasuries for "real stuff"
I might be on holiday, and miles from "civilization" (or at least a wi-fi connection!) But I am still watching :-)
It seems China has figured out what to do with it's over 2 trillion in USD debt... It's going on a spending spree!
From yesterday's FT this article was emailed to me by a viewer...
China to deploy foreign reserves
http://m.ft.com/cms/s/0/b576ec86-761e-11de-9e59-00144feabdc0.html?catid=20&SID=71309797ad69d5d24806418f140c34d3
It is a smart move for China; dump what it has in dodgy fiat currency and put it into 'real' assets.
Must go off and have a look at what Ambrose thinks of this!
And remember what I said about Commercial real estate 4 months ago? Morgan Stanley and Wells Fargo reported huge losses on it - and it is only going to get worse. Never mind what businesses will do when Novel/Swine Flu really hits in Sept (telegragh and FT).
Next up is Credit Card losses - they will really take off come Sept/October
Peace and Love
(And buy some gold or silver or food stuffs; things are beginning to accelerate! Time is short :-( )
POSTED BY MIKE AT 23:59
SOURCE: http://feveriam.blogspot.com/2009/07/i-might-be-on-holiday-and-miles-from.html