China dumps Treasuries for "real stuff"
 

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/b576ec86-761...06418f140c34d3

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...iles-from.html