Apparently, the higher-ups in Beijing read The Gold Enthusiast. It now appears China is selling US bonds and buying gold. The latest reports show China sold $7.5 billion in US bonds in April, while buying 14 tonnes of gold.
Then following those purchases up with another 16 tonnes in May.
We’ve long said that while China may not be completely transparent with accurate numbers of its gold reserve, there is little doubt what direction their policy is heading. And that’s toward replacing the US as the #1 economic power in the world.
The sooner the US wakes up to that, and the ramifications of it, the sooner we might start fixing the problems with our economy and at least making a good fight of it.