April 01, 2010
CHINA TO SELL US TREASURIES FOR GOLD
In a surprise move Beijing's State Council will soon announce that China will redeem nearly all its holdings of US Treasury securities and demand compensation for their current market value in gold. Official notification is expected in advance of the US Treasury Department's anticipated ruling that Beijing is manipulating Renminbi and will be delivered in private direct to Treasury Secretary Geithner before the close of business April 1. Through an obscure legal ruling from the days of FDR China will demand payment for its holdings of US treasuries in gold and at just under $900 billion Beijing will take possession of a large part of Fort Knox. An unnamed source at the White House said all efforts would be made to discreetly move the gold from Fort Knox in order to avoid anti federal government sympathies....
[Ed. note: this is a special April Fool's Day report.]
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