China seems to change the dollar bills it holds into actual goods. Reportedly, China has stockpiled goods and precious metals at a national level. This is the move in anticipation of the collapse of current financial system.
As expected, Chinese leaders are sagacious.
On the other hand, some Japanese say that Japan with a lot of scraps of paper is a creditor nation. However many dollar bills, which are mere scrap of paper, we have, they cannot be real assets.
At the time of radical changes in economic system, currency has to be supported by actual goods.
January 14, 2013
Source: Reuters (video) – January 9, 2013
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