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Originally posted by David9176
China won't need us forever. There are 6 billion people in the world who can buy there stuff.
I can see them switching to gold. Why wouldn't they?
Why risk it all on the US absolutely moronic monetary policies?
The only safe thing for them to do is invest in gold. They won't go 100 percent into it, but they will do it for some type of protection until there is somehow a fix (yeah right).
The united states is like the lazy guy at work. He shows up but he doesn't produce anything. He expects to get paid even though he's not pulling his weight. Soon the co-workers will get angry at him because they won't think it's fair that they are having to work harder because of a slacker who has it just as good as they do.
Once the rest of the world realizes that THEY can be the ones with the wealth instead of the US, that's when it will all change.
I think it's changing now to be honest.
Feb. 13 (Bloomberg) -- China Banking Regulatory Commission official Luo Ping said holding U.S. government bonds is not the only option for investing reserves, clarifying comments made a day earlier, the China News Service reported.
U.S. debt is one option in addition to gold and other government debt, Luo, head of the training center at the banking regulator, was quoted as saying in an interview with the news agency late yesterday. If the U.S. government issues too much debt in its efforts to revive the economy, all Treasury holders will suffer losses, he added, the Chinese-language report said.
Dow Jones on Feb. 11 cited Luo as saying that there are few real alternatives to holding U.S. Treasury securities. CBRC said late yesterday in a statement that Luo’s comments don’t represent the view of the regulator.