From JC

Here’s a good reason why US Yields are NOT going down anytime soon. Did someone forget to tell the neocons that if they Piss the Chinese off they may havve this problem ? SHEESH

Speaking of history making events, and utterly predictably, the Chinese are not taking Biden’s new sanctions sitting on their rice mats. Bloomberg ran the largely ignored, record-setting story under the headline, “China Sells Record Sum of US Debt Amid Signs of Diversification.”

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During 2024’s first quarter, China dumped a record number of US treasuries and bonds valued higher than the Great Wall, totaling a staggering $53.3 billion. In historical terms, this is the largest treasury sell-off ever recorded. Coincidentally, the US dollar declined to its current one-month low during the same period. Bad luck.

As China sells its US treasuries, it uses the money to buy up gold like it’s going out of style. China and the BRICS alliance were the largest buyers of gold in 2022, 2023, and even 2024. Last year alone, China added several tons of gold worth $550 billion to its reserves.

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It might be connected to the war in Ukraine. “This suggests that gold purchases by some central banks may have been driven by concerns about sanctions risk,” an IMF official quoted for the story explained. In other words, BRICS is way ahead of Sleepy Joe.

Never mind, the country is in the best of hands. It’s a good thing Biden and Blinken are running the country. Forget about diplomacy, that’s for dog-faced pony soldiers. No peace until every inch of Ukraine is back in the CIA’s hands!

Meanwhile, Microsoft — all on its own, mind you — announced this week it is beginning to airlift its artificial intelligence team out of China. From the Wall Street Journal, Thursday:

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Microsoft gave its Chinese employees a month to make up their minds. The tech giant “declined to comment on the reason behind the relocation offer.”

Under Biden Administration rules, neither OpenAI’s ChatGPT nor Microsoft’s AI ‘Copilot’ are available in China. Decide for yourself which country is better off under that arrangement.

But that wasn’t all. Goodbye, and thanks for all the bamboo shoots. Perhaps China’s deepest and most insulting cut was reported Thursday by CBS, in a story headlined, “Last pandas in the U.S. have a timetable to fly back to China.”

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Last November, the National Zoo in Washington returned three pandas to China, “as loan agreements lapsed amid heightened diplomatic tensions between the two nations.”

No more pandas for you! Thanks, Joe Biden, for the Panda War.