Sunday, July 5, 2009

GOP Rep. Kirk Warns: China's Investing Away From Dollar... Buying Gold & Oil (Video)

Representative Mark Kirk (R-IL) said this recently after his trip to China... uh...oh:

"China has lent about $300 billion to the US for Fannie Mae and Freddie Mac. They're very worried about that; another $700 billion in treasury bills. And. they're particularly worried about the feds new policy of buying treasury debt. Cause they're worried that one part of the federal government is buying another part of the federal government. Sounds like printing money... They already are beginning to hedge. I think they expect quite a bit of inflation in the United States next year, so they made a major investment. They funded a second strategic petroleum reserve and they plan to buy $80 billion worth of gold. That's two Fort Knox's. Both of those investments only make sense if you expect significant dollar inflation." Click Read More for the video.

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