Sunday, January 9, 2011

Whoops! Will China's Government Pay Heed To One Of Its Central Bankers?

Central banker urges China to cut U.S. debt holdings: report
China should further diversify its huge foreign exchange reserves away from U.S. government debt to reduce its risk exposure, a central bank official said in comments published on Monday.

Here's the news report from reuters:  LINK

One would have to guess that this comment out of China this evening is why the dollar is lower and gold/silver have popped higher from Friday's close.

3 comments:

  1. BS!! If yu guys only know how to play the blaming game...just go to bed then...everybody knew it was bottom last Fri. probably only you still don't know that.

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  2. How bout that USD Chico!
    Watch for a breakout above 82.50

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  3. LOL. All I can say is: never fight the Fed. The Govt wants a much lower dollar...

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