"China's official foreign exchange manager is still buying record amounts of US government bonds, despite Beijing's increasingly vocal fear of a dollar collapse, according to officials and analysts"
"In March alone, China's direct holdings of US Treasury securities rose by $23.7bn (£14.9bn) to reach a new record high of $768bn, according to preliminary US data, allowing China to retain its title as the biggest creditor of the US government"
"Because of the sheer size of its reserves Safe [China's State Administration of Foreign Exchange] will immediately disrupt any other market it tries to shift into in a big way and could also collapse the value of its existing reserves if it sold too many dollars," said a western official, who spoke on condition of anonymity."
"China's buying of US debt helps Washington fund its soaring deficit and there is no indication that Beijing will shy away from purchases, the Obama administration's budget chief said last week."
An unregulated private banking system (aka the Federal Reserve) is already the core cause of our current state of economic affairs but the above is in no way reassuring...Then this is what North Korea has been up to..
"TOKYO, May 26 -- North Korea reportedly fired two more short-range missiles into waters off its east coast Tuesday, undeterred by the strong international condemnation that followed its detonation of a nuclear device and test-firing of three missiles a day earlier."
"Our army and people are fully ready for battle . . . against any reckless U.S. attempt for a pre-emptive attack," the reclusive country's state-run news agency said."
Oh, and this is what Iran has been up to:
"TEHRAN (Reuters) - Iran has sent six warships to international waters, including the Gulf of Aden, to show its ability to confront any foreign threats, its naval commander said on Monday.
Admiral Habibollah Sayyari, quoted by the ISNA news agency, made the announcement five days after Iran said it test-fired a surface-to-surface missile with a range of 2,000 km (1,200 miles), putting Israel and U.S. bases in the area within reach."
Anybody else see the seeds of more Endless Wars being planted?!?
http://www.ft.com/cms/s/0/cb2e1262-48c3-11de-8870-00144feabdc0.html?nclick_check=1
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/26/AR2009052600555.html?hpid=topnews
http://in.reuters.com/article/worldNews/idINIndia-39868320090525
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