It's Official: The Chinese Are Selling U.S. Debt... and Buying Gold
• | China shrinking its U.S. dollar holdings. |
• | China buying lots of gold. |
• | The data shows more and more that the Chinese prefer gold to U.S. dollars. Chinese buying like this could help create a new price floor for the price of gold. |
• | It’s time to diversify some of your savings OUTSIDE the dollar and into China’s currency. |
• | It’s time to add to your gold holdings now – and hold for the long run. |
Source: http://www.stansberryresearch.com/dailywealth/2669/it-s-official-the-chinese-are-selling-u-s-debt-and-buying-gold
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I would say that the world has now lost its confidence in the us monetary system, They have wall st to blame, In reality China is playing a very smart hand as US Debt is overpriced , and risk of default is way to high.