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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Mon, 06/11/2012 - 12:53 | 2515180 TN Jed
TN Jed's picture

$84 barrel of laughs

Mon, 06/11/2012 - 12:57 | 2515205 francis_sawyer
francis_sawyer's picture

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

Mon, 06/11/2012 - 13:04 | 2515243 Manthong
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)

Mon, 06/11/2012 - 13:34 | 2515291 Cognitive Dissonance
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.

Mon, 06/11/2012 - 23:34 | 2516943 TrulyBelieving
TrulyBelieving's picture

Nothing quite so fun as watching sociopaths on acid.

Mon, 06/11/2012 - 13:50 | 2515384 CrazyCooter
CrazyCooter's picture

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

Mon, 06/11/2012 - 12:51 | 2515166 Winston of Oceania
Winston of Oceania's picture

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

Mon, 06/11/2012 - 12:51 | 2515168 RacerX
RacerX's picture

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

Mon, 06/11/2012 - 12:52 | 2515169 francis_sawyer
francis_sawyer's picture

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

Mon, 06/11/2012 - 12:59 | 2515225 Likstane
Likstane's picture

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

Mon, 06/11/2012 - 13:02 | 2515233 NotApplicable
NotApplicable's picture

Damn, I was too slow.

Mon, 06/11/2012 - 13:27 | 2515321 hidingfromhelis
hidingfromhelis's picture

Tiananmen Tea...

Mon, 06/11/2012 - 13:01 | 2515229 NotApplicable
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.

http://www.dailymail.co.uk/news/article-1339536/Ghost-towns-China-Satell...

Mon, 06/11/2012 - 12:52 | 2515172 fonzannoon
fonzannoon's picture

Somebody's hoarding the USD.

Mon, 06/11/2012 - 12:58 | 2515213 lolmao500
lolmao500's picture

The FED you mean?

Mon, 06/11/2012 - 14:11 | 2515457 Raymond Reason
Raymond Reason's picture

Citizens of Argentina. 

Mon, 06/11/2012 - 15:51 | 2515812 CharlieSDT
CharlieSDT's picture

Zimbabwe.  They enjoyed hyperinflation so much last time they want to do it again.

 

http://www.singledudetravel.com/2012/06/charlies-bullet-point-presentati...

Mon, 06/11/2012 - 12:52 | 2515174 masterinchancery
masterinchancery's picture

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

Mon, 06/11/2012 - 12:55 | 2515196 francis_sawyer
francis_sawyer's picture

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

Mon, 06/11/2012 - 12:52 | 2515175 Mr_Wonderful
Mr_Wonderful's picture

Stocking up for war.

Mon, 06/11/2012 - 12:52 | 2515176 Jason T
Jason T's picture

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

Mon, 06/11/2012 - 12:53 | 2515181 Temporalist
Temporalist's picture

And in India:

 

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

http://news.yahoo.com/p-warns-india-risking-investment-downgrade-rupee-s...

Mon, 06/11/2012 - 12:54 | 2515184 Sudden Debt
Sudden Debt's picture

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

Mon, 06/11/2012 - 12:54 | 2515186 lolmao500
lolmao500's picture

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

Mon, 06/11/2012 - 12:54 | 2515189 carbonmutant
carbonmutant's picture

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

Mon, 06/11/2012 - 12:54 | 2515191 AlamoJack
AlamoJack's picture

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

Mon, 06/11/2012 - 12:58 | 2515214 Cast Iron Skillet
Cast Iron Skillet's picture

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

Mon, 06/11/2012 - 13:46 | 2515372 francis_sawyer
francis_sawyer's picture

guaranteed HH has one of those...

Mon, 06/11/2012 - 14:19 | 2515486 AlamoJack
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.

Mon, 06/11/2012 - 15:02 | 2515634 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

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....

Mon, 06/11/2012 - 20:00 | 2516411 Ookspay
Ookspay's picture

TY, nice...

Mon, 06/11/2012 - 12:55 | 2515195 firstdivision
firstdivision's picture

But how many BPD are used to each day?

Mon, 06/11/2012 - 12:56 | 2515197 ArrestBobRubin
ArrestBobRubin's picture

MSG

Mon, 06/11/2012 - 13:01 | 2515198 Aquiloaster
Aquiloaster's picture

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

Mon, 06/11/2012 - 12:56 | 2515200 junkyardjack
junkyardjack's picture

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

Mon, 06/11/2012 - 12:56 | 2515201 eclectic syncretist
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.

Mon, 06/11/2012 - 12:58 | 2515217 francis_sawyer
francis_sawyer's picture

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

Mon, 06/11/2012 - 12:57 | 2515207 Shizzmoney
Shizzmoney's picture

China gonna China.

Mon, 06/11/2012 - 12:57 | 2515208 reader2010
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.

Mon, 06/11/2012 - 12:58 | 2515210 unclebill
unclebill's picture

Meanwhile en espana.....

Mon, 06/11/2012 - 12:58 | 2515215 BlueStreet
BlueStreet's picture

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

Mon, 06/11/2012 - 13:09 | 2515256 Dr. Engali
Dr. Engali's picture

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

Mon, 06/11/2012 - 13:15 | 2515274 HoofHearted
HoofHearted's picture

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.

Mon, 06/11/2012 - 13:58 | 2515406 Bob
Bob's picture

Very tasty and versatile, outstanding in every way. 

Mon, 06/11/2012 - 14:22 | 2515501 AlamoJack
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.

Mon, 06/11/2012 - 16:29 | 2515913 CharlieSDT
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.

Mon, 06/11/2012 - 13:21 | 2515303 DosZap
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.

 

Mon, 06/11/2012 - 13:33 | 2515342 marathonman
marathonman's picture

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

Mon, 06/11/2012 - 13:53 | 2515393 BlueStreet
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.  

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