Tectol, as you know, China has been back-pedalling by cutting back on US Treasury Bond purchases, by adding to gold reserves and making widespread commodity (metal mines) investments. Do you think this is being done in a restrained fashion for fear their massive Treasury Bond holdings could be wiped out or sharply reduced, either by trigerring a loss of confidence or by deliberate devaluation?

In other words, do you think we seeing a humungous game of "chicken"? I have been wondering why they don't buy up a big chunk of the external world and do more for their own citizsens.

O.F.