Guess What Else China Is Hoarding

Tyler Durden's picture

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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francis_sawyer's picture

you take one down, pass it around... $83 barrels of...

Manthong's picture

$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)

Cognitive Dissonance's picture

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.

TrulyBelieving's picture

Nothing quite so fun as watching sociopaths on acid.

CrazyCooter's picture

That is 10 bucks over ANS for the month of May ...

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.



Winston of Oceania's picture

The war economy is a hungry beast. Look what ours has eaten since WWII...

RacerX's picture

that's okay, we are increasing our demand for paper commodies.. for our Farmville farms.

francis_sawyer's picture

Well the first thing u kno ol 'Chen's a millYUANaire...

Likstane's picture

Chen's blobbin' family said, "move away from there"

NotApplicable's picture

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.

fonzannoon's picture

Somebody's hoarding the USD.

masterinchancery's picture

As I recall, when China invaded India in 1962, they ran out of petroleum.  Not next time?

francis_sawyer's picture


But as I recall, TODAY is the 50th anniversary of this, APPARENTLY SUCCESSFUL, escape from Alcatraz om June 11, 1962...


Mr_Wonderful's picture

Stocking up for war.

Jason T's picture

I better order another 5 cords of wood.  I can't afford oil. 

Temporalist's picture

And in India:


S&P warns India risking investment downgrade; Rupee, Sensex fall

Sudden Debt's picture

And still the price is dropping. Imagine that they stop buying and what it will do to the price!

lolmao500's picture

They are making reserves... because we know their bubble economy doesn't need that much oil.

carbonmutant's picture

If suppy chains look like they might break down you don't want to be caught with an empty pantry...

AlamoJack's picture

Uh-oo. I think the ranch needs a 1000 gallon overhead diesel storage tank. C'monnnnnn Craigslist.

Cast Iron Skillet's picture

Strange ... "overhead Fukushima cooling pond" spontaneously pops into my head ... hope it isn't like that.

francis_sawyer's picture

guaranteed HH has one of those...

AlamoJack's picture

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.

Yes We Can. But Lets Not.'s picture

Glad to help:

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....

firstdivision's picture

But how many BPD are used to each day?

Aquiloaster's picture

Hoarding oil and gold are just antiquated Chinese traditions. Move along.

junkyardjack's picture

China should set up sanctions on the US for dumping commodities on China at below market prices.....

eclectic syncretist's picture

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.

francis_sawyer's picture

Not if they're buying it from the Ayatollah...

Shizzmoney's picture

China gonna China.

reader2010's picture

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.

unclebill's picture

Meanwhile en espana.....

BlueStreet's picture

We should all start hoarding rice because make no mistake it's coming. 

Dr. Engali's picture

Don't forget to hoard spices too. Rice can be pretty bland on its own.

HoofHearted's picture'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.

Bob's picture

Very tasty and versatile, outstanding in every way. 

AlamoJack's picture

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.

CharlieSDT's picture

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.

DosZap's picture

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.


marathonman's picture

With a nice side benefit of self-generating natural gas!

BlueStreet's picture

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.