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Guess What Else China Is Hoarding
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.
And visually:
Perhaps it is not worth pointing out that one thing China is seemingly not hoarding is the USD.
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Hmm.....Fortress China.
Along with copper, soft commodities, etc. The question really is, what is China NOT hording.
Oil, again, will be a great short.
Same sentiment as the early 1970's. Who really knows where equilibrium supply & demand should reside?
Last time that was historically was done was the Battle for the Red Cliffs in 3 AD. The Han dynasty went apeshit politically and also was minting thinner pieces of silver (Chinese are historically users of silver, gold is a Euro/Arab thing) which was the equivalent of printing reams of fiat. From what I've read, there was more pig iron in the coins than silver.
So the other two kingdoms in China at that time grabbed as many of the daily needs that their country slaves/folks/peasants needed in a giant stock pile. Then proceeded to run a war of attrition.
They literally starved the Han dynasty to death. Not with blockade actions, but by grabbing any resource being pulled from the ground. The Han dynasty didn't know what hit it, nearly instant and fatal collapse.
History repeats as well as rhymes. This time though there is only one "Han" counterpart on the modern world stage. Don't need to fire a single shot if your target can't get the resources it requires and once the direction of the commodity flow is fixed by physical means (transport) and agreement. There is nothing the target can do but wait and starve.
I would post links but google is loaded with a couple of thousand scholars papers on the subject.
Let me guess, they all say it won't happen either, cause this time is different.. LOL..
Do they prepare for something?
What target would that be? If you are talking the US you are wrong.
Simply put, China doesn't have an ocean going Navy and is surrounded by choke points. In fact, close the Mallacan Straights and China is screwed. US Navy can easily interdict any Chinese supply line and China cannot do the same. Theoretically, they could ally with Russia for raw materials, but they are historic enemies and that might push India (China's biggest future copmpetitor and rival) even further toward the US - and open an exposed Chinese border.
China decides to dump treasuries and China is screwed because their currency is pegged to it, the US is their second largest export market and the $US is still the world reserve currency.
Like it not, the US and China have way too much to lose by being true adversaries...Complain about each other, sure. Fight each other - bad idea.
The US did use the military to destroy the USSR but not by using the weapons but by simply developing and owning the weapons. The USSR had to divert too much resource in trying to keep up. This led to unhappy citizens and a broke ass country. China only needs to apply pain to US citizens or European citizens by denying them what they believe their governments should be giving them. The rest takes care of itself and shots need not be fired.
The USSR failed because of central planning. Not because we were better at developing bombs. Centrally planned countries always eventually fail. Period. The USSR would have failed even if they did not attempt to keep up with the U.S.A. militarily. The rate of failure is usually dependent upon the percentage of a countries' productive capacity which is centrally planned. The greater that percentage, the faster the rate of failure. The U.S.A. is on its way as well, unless we begin to revert back to freedom.
perfectly stated W.T. Effington
Communism destroyed agriculture in the USSR (and Commie China) and any productive industry. The straw that broke Russias back was its only remaining profit centre, the export of oil. When oil bottomed at $12 a barrel Russia was completely fucked
the only battle the West engaged in with the USSR was in Afghanistan where the SAS trained the Taliban to fight gorilla warfare and the CIA armed them with anti-tank/helicopter missles. Once the Taliban started blowing up expensive pieces of Russian equipment bankrupt Gorbi had to pull them out as he couldn't afford the losses
Govt's kill nations, there's no other wrecker of economies than this institution of meddling idiots
Wars are Govt vs. Govt and are usually determined by which set of clowns makes the least mistakes (Hitler bit off more than he could chew in Russia -mistake No.1 - and mis-judged the Russian weather/winter - big mistake No.2)
Govt is a fucking joke, time to shut the shithole down
Rule #1 of conquering Europe, do no invade Russia in the winter.
First rule of War Club. Never fight a land war in Asia.
Second rule of War Club. Never fight a land ware in Asia (when playing RISK).
Agree with 99% of your good post, but Hitler COULD have easily defeated Russia, except he made one huge mistake which sealed his doom: Had he kept the SS out of Russia,and not torched entire villages, slaughtered the peasants and stole their foodstuffs, the soviet people would have joined with him. Hell, two million ukrainians joined the wehrmachct to fight Stalin. Had Hitler made the case for an independant Ukraine, it all would have been over before the winter snows fell. Of course after the war with Russia was decided, he could have renigned, and then took out the ukrainians. He forgot Caesar's rule of thumb; divide and conquer.
Is there a non-centrally planned one that hasn't failed? Hasn't China been mostly centrally planned for thousands of years?
I'm not going to look up history unless it's really important, but how many governments have they had in the last "thousands of years". I know the current one isn't very old(1949 if you start at Mao).
The golden rule comes to mind here, as in he who has the gold makes the rules...
Christ you Meerkans need to get out more. Even out of state would be an improvement over staying at home with mum.
The Chinese have NEVER had explicitly stated expansionist intentions. The have NEVER even implied expansionism by their actions. They are NOT COMING YOU FUCKING THICK WANKERS!.
No ones hates you Meerkans we just laugh at your uninformed naivete.
Yes they realise the USD is worthless pulp BUT THEY ARE NOT COMING!!!!
hhahahahaha
Edit I ve been there AND to 80 other countries.
THEYRE NOT COMING!
Tell the Tibetians maybe they will chime in on your side.
Taipei?
Simply put there are a multitude of articles recently about military changes by both the US and China that point toward preparation for a conflict. Why is the US deploying troops to Australia if not for worry about the Chinese military? Perhaps they think Sri Lanka poses a threat. There aren't many troops, but why any? The Chinese are developing and testing massed missle attack tactics which can overwhelm the US Navy's defences. There is no way they could gain control of the seas but they might make the sea lanes unavailable to both sides. Many reports recently have been stating the Chinese economy has been slowing down and use the massive stockpiles of unneeded commodities as evidence. If one sees a years supply of iron ore being dumped into huge piles is one looking at the malinvestments of a centrally planned economy or is one looking at war preparations? Time will tell but assuming completely peaceful Chinese intentions is about as foolhardy as assuming the Fed is only trying to help the US economy. The inside motivations and plans of both are hidden but a little paranoia is warranted.
Why is the US deploying troops to Australia if not for worry about the Chinese military? Perhaps they think Sri Lanka poses a threat.
Probably because Bill Krystol or Lord Kissinger decided it would be a good idea? Besides "wasting money doing a whole bunch of stupid shiite" is the roll of "our" military these days.
(Besides preparing to massacre Christians in Syria shortly)
@prole
While American troops in Australia may irk China, I guess the real purpose of that base is as half-way house for badly traumatized soldiers that cannot safely be re-integrated in American society.
@MarkS
Marcus,
China's purchases remind me alot of what the survivalists are advising people to do
spend those dollars now and stock up while there are goods on the shelves
get into gold, silvert, copper, fuel, basic shit for survival
anyway, how do you go to war with nuclear weapons?
I don't think they will have so many dollars to dump after they complete their shopping
big advantage, too, in having everything you need and out of the ground
China, at least, looks like a survivor
And its currency may be gold based and appealing to many nations
Yeah, I could see the US nuking China
This is really a mess
Hoping I'm just having a fear fantasy---I get a little crazy reading these articles om
doop
Your whole hoarding thesis would make more sense if we weren't each others biggest trading partners. Hoarding, as a military tactic, doesn't work so well when you sell all of your shit to the enemy for worthless paper. Just saying. Also, transportation is much more developed now than when Jesus was walking the earth so if China won't provide the raw goods for manufacturing, someone else will. They don't have a monopoly on their trading partners access to raw goods like the Chinese dynasties had upon each other. The world is global not local. I think they are simply trying to protect themselves from inflation. Albeit, in half measures, since they still print like crazy and accept what we print like crazy.
Here's the thing about historical relationships with China over the last 8000 years of recorded history. They aren't "partners" like you would like them to be. It is a relationship of convenience, nothing more.
Like the US had a "partnership" with the Contra's in the 80's...
Any case the teacher will school the tiny, short lived country called the USA and Russia. The super powers on this planet if glimpsing at human history IS China and India. It has nothing to do with the blip on the radar around the middle east and the euro thuggery/piracy or nukes or armies.
It has to do with recorded history, the one with the longest story wins and it sounds like you have a severe case of denial of that. If not in doubt, get in doubt fast.
...we were partners with Iran against Iraq.
are you implying Western Govts are rammed with slippery two-faced slimebags?
Good Call
We actually armed Iraq in order to kill Iranians. They kicked our oil companies out of the country and we just couldn't have that. The Constitution governs Iran too, you know. Perhaps our past behavior has induced some of the hatred Iran has toward our glorious government?
Without understanding this it is impossible to understand the future. As you point out the historical arc has showed China astride the world in technology, wealth, governance, religion, military power, and just about every other metric one can use since the beginning of recorded history. The last 200 years are a blip that any Chinese will tell you was a result of allowing the non-Chinese barbarian Qing (Manchu) to run the show for too long.
I would say history is quickly reverting to its norm and people had best understand how China has managed and "worked with" client states, tributaries, and "barbarians" in the past. The term "Middle Kingdom" isn't just flowery rhetoric; it's a description of their national philosophy.
CPL, Lets get real. There is nothing necessarily superior about any particular race. It all comes down to ideas. Certain ideas are superior to others. Liberty being one of them. Free people produce and create. Slaves and the repressed do not. China may become a powerful people again but it will only be because they are free and productive. Power comes from wealth. Wealth comes from productivity. Productivity comes from free people. Free people embrace the ideas of liberty. Therefore, liberty is empowering. Not a peoples long lost domination of others which is what you seem to refer to.
Also, you claim that the one with the longest story wins. Wins what exactly? Does not every peoples history go back to the same place. Every man dies. Your story is not your great grandfathers story, or your fathers story or a Chinese mans story who lived 1000 years ago. Your story begins and ends with you. We either learn from our own experience or if we are wise we learn from the men and women who have walked this earth before us. There is a difference between living in the past (like you seem to be) and learning from the past (which is what I suggest doing). You are the one who seems to be in denial of the reality we are faced with in the year 2012. China, America, Europe. We are all different versions of the same monster. Central Power and Central Planning. If we do not change, we all face the same fate, regardless of race, genealogy or any other superficial categorization.
The question really is, what is China NOT hording.
US Dollars..
Alcohol. Most Chinese are allergic to it. More hours in the day to get things done.
"Anything Goes"
~~~
http://www.youtube.com/watch?v=N1H9eKWPGRo
It's more like 1929, except this time it will be a European-American power exchange and transfer to Asia.
you haven't read the latest from the mighty jim quinn. he says he knows where the equilibrium of supply and demand is exactly. i wonder if he has calulated the chinese hoarding in his theories? hat tip to the monkey...said so much with few words and no graphs or charts!
"he says he knows where the equilibrium of supply and demand is exactly."
Only a select few know this. And this knowledge is used to great effect. BTW Mr. Quinn isn't one of the select.
FYI this might not be hoarding.
China's domestic oil extraction-from-the-ground rate (aka production) is among their most closely guarded state secrets. Journalists who enter the country and travel to oil well regions have been arrested and jailed as spies.
There has been substantial speculation that China's oil extraction rate is well past peak and declining.
And thus, even if their economy is weakening and reducing their oil consumption, they may have to increase imports -- with it having nothing to do with hoarding.
"China's domestic oil extraction-from-the-ground rate (aka production) is among their most closely guarded state secrets."
Only China does this. All other countries, including the US, have no trouble being completely transparent about their most strategic commodity. After all, without such disclosure, how could the free market in oil exist?
/sarc
It's not what they are hoarding, it's why they are hoarding. And, it's not because they fear a collapse of the $US.
They are hoarding oil because they recieve a large portion of their oil from Iran and that could be an issue if a blockade of Iran happens. FYI, the US petroleum reserves are at their highest level EVER, which if your conspricay a theorist and you add that to the level of US operational forces in the proximity of Iran it tells you something...or not.
They are hoarding other commodities for 3 reasons.
First, it allows them to transfer capital out of China - buy AND OVERPAY for a commodity (notice their average price for oil) and have the excess go into your bank account, an inefficient but very real way of avoiding capital oversight/controls.
Second, this upcoming transfer of power is creating a good deal of uncertainty internally. The arrest of Bo Jilai was important because it pits the conservatives (intelligence and the Army - Bo Jilai) against the reformers (current leadership). It shouldn't be lost on anybody that:
1. the arresting forces were not common to his region
2. that the leadership called on the Army to publicly suport the arrest after it happened
Third, commodities are used as an informal currency inside of China, although not so much as 2 years ago as the government has caught on to it. Chinese were using a sort of barter system to avoid the tracking of cash internally, but the governement caught on about 18 months ago and put everyone on notice that they had 'noticed'.
I think it is allot more simple, the Chinese are hoarding gold oil and other commodities because I am sure they believe as everyone else does that hyperinflation is soon to come, so why not purchase hard good with dollars before it is completely worthless and when it loses reserve currency status they will still have all the hard goods they purchased in exchange for basically worthless toilet paper.
It'll be funny if big-time deflation suddenly kicks in.
Then we can buy it all back, with more dollars... winning!!
Actually, we are now in the deflation stage
http://evenkeelmedia.com/first-deflation-then-inflation-phase-one-and-two/
Black Gold bitches!
...Bitchez
...Biatch!
This episode of the Zerohedge was rbought to you by the letter B.
That is so Sesame Street!
Biotechs Britches!
$84 barrel of laughs
you take one down, pass it around... $83 barrels of...
$83, $103, $133 they don’t care.
They will be trading excess FRNs at whatever price for their strategic petroleum reserves , especially when the Stoner-In-Chief sells oil from ours to boost his numbers right before the election.
(not to mention dumping FRN’s for gold and silver and other commodities)
That point where people or nations holding dollars and any other endangered currency are trying to purchase something (anything) that is "real".........has begun.
Now the party's getting really good. Someone slipped acid in the punch.
Nothing quite so fun as watching sociopaths on acid.
That is 10 bucks over ANS for the month of May ...
http://www.tax.alaska.gov/programs/oil/prevailing/ans.aspx
If you check a map, you will see that Valdez is just across the pond from the Asian markets, so ANS vs Brent is a very interesting price pair to follow as ANS is a pretty good proxy for Asia and Brent is a pretty good proxy for Europe.
Regards,
Cooter
The war economy is a hungry beast. Look what ours has eaten since WWII...
that's okay, we are increasing our demand for paper commodies.. for our Farmville farms.
Well the first thing u kno ol 'Chen's a millYUANaire...
Chen's blobbin' family said, "move away from there"
Damn, I was too slow.
Tiananmen Tea...
The Kin folk said, "Chen, move away from there!"
They say you need to come and fill up our empty cities.
So, the loaded up the cart, and they moved to Kangbashi.
http://www.dailymail.co.uk/news/article-1339536/Ghost-towns-China-Satell...
Somebody's hoarding the USD.
The FED you mean?
Citizens of Argentina.
Zimbabwe. They enjoyed hyperinflation so much last time they want to do it again.
http://www.singledudetravel.com/2012/06/charlies-bullet-point-presentati...
As I recall, when China invaded India in 1962, they ran out of petroleum. Not next time?
OT:
But as I recall, TODAY is the 50th anniversary of this, APPARENTLY SUCCESSFUL, escape from Alcatraz om June 11, 1962...
~~~
http://en.wikipedia.org/wiki/June_1962_Alcatraz_escape
Stocking up for war.
I better order another 5 cords of wood. I can't afford oil.
And in India:
S&P warns India risking investment downgrade; Rupee, Sensex fallhttp://news.yahoo.com/p-warns-india-risking-investment-downgrade-rupee-s...
And still the price is dropping. Imagine that they stop buying and what it will do to the price!
They are making reserves... because we know their bubble economy doesn't need that much oil.
If suppy chains look like they might break down you don't want to be caught with an empty pantry...
Uh-oo. I think the ranch needs a 1000 gallon overhead diesel storage tank. C'monnnnnn Craigslist.
Strange ... "overhead Fukushima cooling pond" spontaneously pops into my head ... hope it isn't like that.
http://www.tidytanks.com/farmtank.html
guaranteed HH has one of those...
Tanks for the LINK vaquero, but I found some used 250 gal propane tanks for less than $1 a gallon. Still, that WAS a kuul site.
Glad to help:
http://houston.craigslist.org/grd/3057364805.html
BTW, for you Craigslist users out there, there are iPhone apps such as CraigsPro+ that are much easier to use than Craigslist itself for searching nationwide....
TY, nice...
But how many BPD are used to each day?
MSG
Hoarding oil and gold are just antiquated Chinese traditions. Move along.
China should set up sanctions on the US for dumping commodities on China at below market prices.....
Why not stockpile it? They can use their own (or our) cyber money to pay for it, they don't have to use gold,..yet!
Oh well. At least we lightened up on stockpiling their silly bandz and other similar trifles.
Not if they're buying it from the Ayatollah...
China gonna China.
After having burnt by diversification into Euros, China's preparing for the end of the world as we know it. Import enough of oil, gold, plastic rice for those soon to be built empty cities in the middle of gobi desert.
Meanwhile en espana.....
We should all start hoarding rice because make no mistake it's coming.
Don't forget to hoard spices too. Rice can be pretty bland on its own.
Quinoa...it's a whole protein and actually fills you up. Put some veggies with it, and all is good. Then you don't have to slaughter the milk cow.
Very tasty and versatile, outstanding in every way.
Whutz Quinoa? Never heard of it. And by the way, it's a milk GOAT. Cows are really, REALLY destructive and must stay out of the yard, BUT they are very helpful with the fertillizer.
Sun to grass to cow to your plate is one of the most efficient uses of farmland on a calorie-per-acre standpoint. No offense to goats, man's oldest friend.
We should all start hoarding rice because make no mistake it's coming.
Rice & Beans require heat and lots of water.Make sure if you sock them away, you KNOW you will have access to a good supply.A rice and pinto bean diet will almost be all you need to sustain life,along with vitamins.
With a nice side benefit of self-generating natural gas!
Got 15 acreas and a small house under contract, just waiting on the bank. It's got a well and 13 acres of trees for fuel. Only problem is the bank holding the mortgage is in India, unbelievable.
Sounds great! When you call customer support they will re-route the call to the US!
Don't forget the jackrabbits and squirrels. Yummm!
It's a good thing those damn evil speculators are selling it to them cheaper the past few weeks. Call it a "rollback " price.
wow! stacking & preparing ....
The half life of gold is longer.
Once China trades in all its $USD and Treasuries for oil and gold, it might not be a bad place to invest.
I wonder how many Prepper blogs there are in China, and what they're saying.
Ther're saying... "We need to stop blobbing & start PLEPPING"
China still has a vibrant family food producing culture - "uncle Chan's rice paddy, chickens, and ducks".
We have McDonalds! Go USA!
Hi Wakanda,
How Grows it? Our garden is doing okay, not much rain, hand watering. But looking good! Corn is already knee high!
Cheers - Ookspay
China is filling up its strategic petroleum reserves.
China's strategic OIL reserves are located in Russia and Canada.
China... Fuck yea!
China is now importing as much oil as the U.S., between China's increased imports and the U.S.'s declining imports. Relative to the size of the respective economies, the cost of oil imports has twice the impact on China as it does on the U.S. ... and yet, we in the U.S. blame the cost of oil imports for economic decline, as China prospers.
China is now importing as much oil as the U.S., between China's increased imports and the U.S.'s declining imports. Relative to the size of the respective economies, the cost of oil imports has twice the impact on China as it does on the U.S. ... and yet, we in the U.S. blame the cost of oil imports for economic decline, as China prospers.
And the dumb asses here are importing 28% of our refined gasoline.
China: don't forget the TP!
all that oil being stored, must cost a lot more than a one cent match that can.....aaaaaand it's gone!
also hoarding the fresh water(?) from the Great Lakes
Guess What Else China Is Hoarding
American Jobs?
I would call it "value adding" jobs as opposed to American jobs. I wonder if they will trade us some value adding jobs for as many bankers, lawyers and politicians as we can fit on 5 battleships?
You mean to tell me that the country that 'invented' paper currency hasn't yet figured out how to have high paying jobs pushing paper assets around?...
I definitely overestimated them...
So if china prefers oil over dollars, when do oil-"producing" nations realize that they will be left holding the bag (of paper) if they generate more oil revenues than they can roll over into hard assets and well allocated investments (infrastructure, technology, productive facitlites etc. - NOT a second jet for the wife or government bonds from the guy who is buying your oil) ??
Gold backed Yuan.
Good bye dollar.
US dirt nap.
call me
when they start hoarding
walrus flippers
Asians do have the highest IQs of the human species.
Score high on IQ tests, yes. But score basically zero on creativity, they only seem to have a knack for trying to copy western ingenuity.
And who did they copy these from:
Printing
Gunpowder
The Compass
The Novel
The Multi-Decked Sailing Ship
The Bureaucractic Examination
Wood Pulp Paper
The Plow
Wet-rice agriculture
Acupuncture
The Crossbow
The Horse Collar
etc etc
If they invented bureaucrats then fucck them
Which "Asians"? Amerindians came from Asia. Are you saying illegal Amerindians from Guatamala and Mexico are underperfoming in schools? How did you ascertain that "Asians" have a higher IQ than Ashkenazi Jews?
Are you sure about "Amerindians came from Asia" or just believing a bunch of dead white guys?
smarter than the average panda!
Wonder if Buffet thinks oil is a barbaric relic too...
>>Wonder if Buffet thinks oil is a barbaric relic too...<<
Warren Buffet is a barbaric relic.
In the meantime, Western civilization is nearing collapse as oil runs out, and the Chinese are making vast leaps forward by miniaturizing themselves and training groups of hundreds to think as one. Eventually, the miniaturization proceeds to the point that they become so small that they cause a plague among those who accidentally inhale them, ultimately destroying Western civilization beyond repair.
Slapstick - Kurt Vonnegut 1976
If I'm going to be miniaturized, I wanna take Racquel Welsh with me...
Fantastic Voyage was good but One Million B.C, Ahh the fantasies that movie used to bring.
The dude that won the Oscar for 'special effects' for FANTASTIC VOYAGE...
I took his daughter to her senior high school prom (no shit)... Anyway ~ so I held that statue in my hand (among other things ~ that night)...
LMFAO!
Doc, You and Sawyer are giving away your ages, lol!
Sex after 60 is great, especially the one in the summer.
Actually it seems that having come late to the SPR game, they've now completed Phase II of their planned 100 day SPR and have been filling it up. A 100 day reserve is what's recommended by the IEA and since Phase I only brought China up to 39 days, they're still playing catch-up with most of the rest of the world. I'll bet dollars to egg rolls, though that soon enough they'll have the biggest SPR in terms of days supply. The US SPR (BTW) is about 80 days worth.
China’s Strategic Petroleum Reserves: A Reality Check Mandip Singh
May 21, 2012China consumed about 9.2 million barrels of oil per day in 2010, of which 4.8 million barrels per day (52 per cent) was imported. Analysts believe that, by 2020, nearly 65 per cent of the oil consumed in China will have to be imported. According to China’s stated policy on SPR, the country plans to maintain an SPR of 500 million barrels of oil, equivalent to 100 days of consumption at normal rates.
[snip]
By the end of 2010, China's petroleum reserve capacity was enough for 39 days of consumption, comprising of SPR oil and a further 168 million barrels of commercial reserve capacity. The country's second phase of SPR is expected to be completed by 2012, with eight sites scheduled to be ready. This will likely boost SPR capacity to 37.53 million tons or 270 million barrels. When China finishes filling its reserve of about 500 million barrels, it will roughly equal three months of imports and constitute the second-largest stockpile in the world. http://www.zerohedge.com/article/doe-announces-details-strategic-petrole..., accessed on 18 April 2012." href="http://www.idsa.in/issuebrief/ChinasStrategicPetroleumReserves_MandipSin...">24 Analysts believe that the Libyan oil crisis and the Iranian oil embargo are likely to drive nations to increase stockpiles. In respect of China’s SPR it is said “With the expectation that prices are going to rise, they will accelerate the pace of tank-filling,” says K.F. Yan, director at energy consultants CERA in Beijing.
http://www.idsa.in/issuebrief/ChinasStrategicPetroleumReserves_MandipSin...
+1 bingo. Beat me to it.
What would you rather hold; an excess of US dollars and Euros or an excess of gold, oil and other natural resources? Isn't is stimulative, since the dollars will then go to banks to be re-invested in the economy (or to prop up stock prices and buy real assets from fools).
"Strategic Oil Reserve" = Not for you and me or Wong & Fong. It's all Gov./military go juice.
Very traditional.
It's also building/hoarding increasingly cheap empty apartments and homes. Maybe the'll spend their gold building even more cities with no one in them...
Chinese purchased oil for $120 per barrel - and oil has declined since then - http://bullandbearmash.com/index/oil/daily/
Those communists are so smart.
China has been the dumbest money since 1978. Think differently now!
Maybe Canada should sell all their oil to China.
peak oil