Yeah, talk radio is a dangerous source of news. China's total foreign exchange
reserves are about $2 trillion, 70% of which is held in USD-denominated assets.
The entire US GDP is about $14.5 trillion. The entire world's GDP is less than
$100 trillion.
When you hear absurd numbers, it is good to check a few facts.
Nathan
Nathan Wajsman
Alicante, Spain
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On Nov 13, 2009, at 1:24 AM, Brian Swale wrote:
> Something heard on talk-back radio here today;
>
> Apparently China has 347 trillion US dollars in kitty, and they want to spend
> it. "They" are apparently about to go on a global spending spree. It's been
> happening already here.
>
> Add to that the reported huge loans to the USA to fund the Iraq war, said to
> be so huge that USA can never pay the loans back. Any repayment will just
> add to the 347 trillion ...
>
> Brian Swale.
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