Last year, the great walled nation of China had over $4 trill in fx reserves aka cash for a rainy day. Due to their economic slow-down and capital flight, they’ve been spending it like drunken sailors. By next year, that number is predicted to be as low as $2.6 trillion.
News is out tonight that the PBOC injected an astounding $315 billion–which qualifies as the largest open market cash injection in three years.
Before you know it, all of their money will be gone. Poof. Easy come, easy go.
At least they got to spend a whole bunch of money on ghost cities and expensive as fuck oil for their strategic reserves.
Asshats.
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