Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Buy What China Wants

China has announced that it wants to  “improve the operation and management of foreign exchange reserves and to actively explore more effective ways to utilise reserve assets”.

Effectively this means they will be moving out of US dollar assets and into something else. This article Financial Times article mentions a move towards “other currencies”. I can’t help thinking this is bullish for precious metals.