 |
PM |  | |
Quote | | |
Reply | | |
Full Topic | |
| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
| Status: |
Offline
|
| Mana: |    |
Of US government paper China has plenty. Bond holdings alone tote to $768 billion. Other dollar-denominated assets in Chinese hands add another $700 billion or so. Despite this Newcastle in its vault, the US would like China to buy more coal.
But lately, those dollar holdings have done poorly. Thanks, supposedly, to the economic rebound, the dollar has fallen against just about everything. Against gold, it is down 15% in 2009. Against oil, it is off 50%. As for copper, the dollar has lost 65% of its purchasing power. Thirty-year US Treasuries have fallen too – down about 27% since January. A rough guess is that China has lost more than $200 billion so far this year, thanks to the fall of the dollar and US Treasury bonds.
http://www.lewrockwell.com/bonner/bonner387.html