China Holdings of US Treasuries Revised Up 30%; An Unsustainable Model

``I am not surprised given that persistent rumors of China dumping treasuries made little mathematical sense from a balance of trade standpoint. Instead, I suggested China was accumulating treasuries via trading desks in the UK. We now see that is precisely the case... it's also important to know the existing global currency hegemony will eventually collapse because the current model is unsustainable... a global currency crisis does not necessarily start with the US dollar, nor does a crisis necessarily happen any time soon. A major crisis starting with the Euro, the Yen, the British Pound, or the Yuan is at least as likely, and the timeframe can be months or years away. Whenever it happens, don't be caught without gold.''