“China Is Hoarding Crude At The Fastest Pace On Record”
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 04/25/2016 12:25
In the aftermath of China’s gargantuan, record new loan injection in Q1, which saw a whopping $1 trillionin new bank and shadow loans created in the first three months of the year, many were wondering where much of this newly created cash was ending up.
We now know where most of it went: soaring imports of crude oil.
We know this because as the chart below shows, Chinese crude imports via Qingdao port in Shandong province surged to record 9.86 million metric tons last month based on data from General Administration of Customs.
As Energy Aspects pointed out in a report last week, “Imports through Qingdao surged to another record as teapot utilization picked up, leading to rising congestion at the Shandong ports.”
The post “China Is Hoarding Crude At The Fastest Pace On Record” appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/04/25/china-is-hoarding-crude-at-the-fastest-pace-on-record/
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