China's Investing in a New Currency... And It Ain't the Dollar

Reading: China's Investing in a New Currency... And It Ain't the Dollar http://seekingalpha.com/a/32qc

Let’s talk about China.

China is the US’s largest creditor. All told, the People’s Republic has $700+ billion in US Treasuries. However, if you account for other dollar denominated investments, China is believed to have 70% of its $1.7 trillion in foreign reserves sitting in green backs.

That’s an unbelievable amount of money invested in the US dollar. Needless to say, the Chinese are not too happy about our Central Bank’s decision to print TRILLIONS of dollars propping up the US financial system.

continue reading - http://seekingalpha.com/a/32qc