The economic damage to the American economy, and the loss of American lives has been blamed in part on a lack of transparency from China about the true nature and origins of the virus.
Others do not share the same confidence that it is clearly known where the virus came from, nor are they certain that it was shared with the intent to cause harm.
Half of the American political apparatus seems to be blaming the current administration, while the other half lays the blame primarily upon China.
In any event, this concern about losing access to these reserves might be contributing to China’s desire to use them to make purchases sooner rather than later.
While that may be a concern unique to China, there are other concerns that should weigh heavily on us all.
While that may be a concern unique to China, there are other concerns that should weigh heavily on us all.
With the Federal Reserve’s stated goal of increasing inflation and letting it run for an extended period, we don’t need theories from a famous author to recognize the risks associated with holding Dollars.
The Chinese don’t either. We should consider following their lead when it comes to what to do with our own Dollar reserves.
For those who feel it is inappropriate for Americans to take cues from a foreign power about what to do with their own currency, we need look no further than large American banks and investment managers.
Major players such as Warren Buffet, Ray Dalio, Morgan Stanley, BlackRock, Bank of America, Ohio Pension Fund, and many others have been allocating Billions to precious metals bullion and securities.
- Source, US Gold Bureau
