Month: July 2022

South China Morning Post/Frank Tang/7-20-2022

“A desire by Beijing to avoid ‘the risk of possible conflict’ with Washington could have contributed to China cutting its holding of US government debt to below US$1 trillion for the first time in over 12 years, analysts said.”

USAGOLD note: Reports in western publications did not put China’s reduced holdings of U.S. Treasuries in this context, so we were a bit surprised when we came across this SCMP article. We pass it along as a matter of interest noting that Tang’s byline includes Bejing as the point of origin. The article quotes Tan Yaling, head of the Beijing-based China Forex Investment Research Institute, as saying that China “could shift its attention to gold” as an alternative.

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CNBC/Hugh Son/7-18-2022

“‘I expect there’s going to be more volatility and there’s going to be more uncertainty and in light of the current environment we will manage all our resources cautiously,’ Solomon said.”

USAGOLD note: In other words, don’t expect any quick turnarounds on the inflation front. It’s global and with that in mind, the Fed’s ability to constrain it is limited.

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