We already know that Chinese imports of HK gold passed all records in the month of April. It appears that the precious metal is not the only hard asset that China has set its sights on.
From BBG:
China imported a net 25.3 million metric tons of crude in May, or 5.98 million barrels a day, up 10 percent from April, customs data showed yesterday. The previous record was 5.87 million barrels a day in February. Purchases cost an average of $120 a barrel, compared with about $123 in April, the data showed.
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5 comments:
When the Keystone pipeline is up and running Canada has already decided to send oil to China.Since China will be paying a premium for the oil,even Romney as president will not stop the sale of the oil to China once it has been established,especially when China pays for everything in advance.had Obama initially agreed to allow Canada to pipe all of the oil to the US,any benefit to China could have been avoided.
Sounds like to me they are getting ready for war.
351-They are not getting ready for a war. Think about it rationally, if every nation is devaluing it's currency, why hoard cash? Take the $$$ and buy assets you will use. Same reason they are hoarding copper for future building projects. Why be held to the whims of the market if you're flush with cash that's being devalued daily?
5:28
Exactly!
Turn your Fed Notes (debt) into valuable commodities while you still have a little purchasing power!
China will own this country before you know it. Greedy developers and democraps are allowing them to buy up land and start their own cities. It will be competition between the Chinese and the Muslims.
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