A China Business New survey shows that about 71% of Chinese economists believe China will favor gold over US debt:

“In a survey of major Chinese economists, more than two-thirds are reportedly bearish on the prospect of China increasing its holdings of US government bonds, and believe instead the nation should putting more of its hard-earned into gold.

According to a China Business News survey of 70 Chinese economists (including one foreign economist), the exact figure is 71.4% anti-bonds and pro-gold.

75.7% of the economists asked believe that China should increase its holdings of gold, with 48.6% opting for a slight increase while 27.1% think China should pile in.”

The survey also brings to light the question of whether China’s gold reserves should be increased.”

Oh well, the Federal Reserve will just have to buy all those T-bonds, the administraion will be selling this summer…no prob.