GB,
Yes, agree. But, back to my original point about these holdings, this is a game to them. A message is sent.
There was a time when I thought debt, deficits, and all that mattered. I do not think that anymore. Now I'm only concerned about the relative and most important, what THEY are going to do next.
For example, lets say the world is screaming about the USA doing X. X can be anything thing you want. Now the USA wants to do X, and they are going to do X, but first they must make it so it is possible.
And how do they do that? They look around and say, the world really like Y. So, we are going to go fxxx with Y and real good like. It won't really look like we did it, but everyone knows we did it. We just put a little Z here and took a little Z from there and shazam, Y is crashing likes it's on fire. And now, we rush in say, "hey if we do X, then Y will be restored".
And that game is being played right now. Reserves, debt, trade imbalance, all are secondary to getting result X.
All I care about now is trying, often in vain, to understand what X is, how they are going to push it or kill it, and how I can position to protect my 1% of a fraction of a fraction of a fraction of the crumb I worked all my life to put in my pocket.
GT
TH |
