The Russians have been out there saying they’re buying gold, Canadian bonds, and diversifying their positions. Well, here they are doing it. At some point, enough people around the world will say they don’t want to be in dollars anymore and they will get out. It looks to me that the Chinese and the Russians are getting out.
The smart guys are leaving the ship and it looks to me like we’re replacing them with are our own printed money as well as hedge funds who are borrowing money and buying treasuries. This is a very bad group to have. Those are not long term holders. That could reverse very quickly. If that happens you can have a dollar collapse.
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