Friday, November 7, 2014

I was under the impression that China was NOT going to increase its stock of US $ in her foreign reserves?!

It was as if it was only yesterday that China's foreign reserves was at US $1.3 trillions.

You can imagine my shock, when today, I found that as of June 2014 her foreign reserves stood at US $4 + trillions.

If her reserves grow at what seems to be an exponential rate, the unspeakable will happen. Her foreign reserves will exceed the US. GDP.

As things stand her current foreign reserves exceed the total US tax revenue by US $ 1+ trillion.

US debt currently stands at US $17+++ trillions.

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