Red Heat

"Define irony. A bunch of idiots dancing on a plane to a song...made famous by a band that died in a plane crash."
--Garland Greene (Con Air)

China is voicing concerns about the Fed's money printing policy. In part because China owns $1 trillion+ of Treasury debt and the Fed's actions means repayments are being made in dollars that are ever declining in value.

Also because China wants to keep its currency weak to generate exports. When the US is engaging in super-weakening of the USD, then it becames a bilateral race to debase.

Can it really be any surprise why gold continues to rip higher?

My favorite piece of the article comes from China's vice foreign minister: "The artificial setting of a numerical target cannot but remind us of the days of a planned economy."

Now there's a statement that made me do a double take.

position in Treasuries, USD, gold