POVERTY: Chinese Forex Reserves Drain For 10th Consecutive Quarter

I don’t know what the Chinese will do about this situation; but it’s getting out of hand, quite frankly.

Forex reserves for the month of December have dropped by another $41b, ending a year of Forex bloodshed to the tune of $320b — the sharpest drop in two decades — dwindling down to just $3 trillion. Just two years ago, the Chinese were sitting atop a mountain of cash, like Kings, flaunting excesses of $4 trillion. Now they’re almost broke, walking about the streets with a tin cup — disheveled.

The all mighty United Steaks of America rank 19th in Forex reserves, just behind Algeria, coming in at $119b — but number one in debt at $20 fucking trillion.

Obamanomics.

NOTE: Literally, no one gives a shit about this. Expect markets to blow it off, or even digest it as good news.