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Old 02-15-2013, 08:51   #22
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Originally Posted by Atlas View Post
China has been converting very large sums of foreign currency (mostly dollars of course) into... all things tangible.

Gold, silver, copper, iron, aluminum, coal, land and businesses in the U.S., Africa, and South America, high-tech/high-value machinery and equipment (which they then set about reverse-engineering and copying for use in their domestic markets), and on and on.

They are doing so as quietly and carefully as possible, in order to avoid further devaluation of THEIR dollar holdings.

The Chinese are in it for the long term, they have enough history as a people to understand the long view of world affairs while we remain preoccupied with the next fiscal quarter.
Well said.
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