Friday, 17 February 2012
Chinese reduction of US dollar holdings continues
Clearly China is at least partially "switching" out of the US dollar into gold; reflecting waning confidence in the global reserve currency. It will be interesting to see how much, if any, they divert into the Euro (which I believe would be a strategic mistake). See "China reduces US debt holdings", with thanks to Jim Sinclair and Forbes.
Posted by Nils Marchant