“China has woken up. The West is a black hole…”

April 16, 2009

From the Telegraph:

China’s State Reserves Bureau (SRB) has instead been buying copper and other industrial metals over recent months on a scale that appears to go beyond the usual rebuilding of stocks for commercial reasons.

Nobu Su, head of Taiwan’s TMT group, which ships commodities to China, said Beijing is trying to extricate itself from dollar dependency as fast as it can.

“China has woken up. The West is a black hole with all this money being printed. The Chinese are buying raw materials because it is a much better way to use their $1.9 trillion of reserves. They get ten times the impact, and can cover their infrastructure for 50 years.”

[Full Article]

From PDX Tea Party, 4/15/09. Photo by Brian Albert.

From Portland, Oregon Tea Party, 4/15/09. Photo by Brian Albert.

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