While Geitner’s ridiculous Stress Test provided Saturday Night live with some laughs at the Treasury Secretary’s expense, China does not seem to take seriously the Obama administration’s chief economic spokesman or his foolish proclamations. The man from Dartmouth College and Johns Hopkins University who is incapable of googling “self employed” or clicking the correct box in Turbotax with or without his accountants assistance, the genius who does not know how to pay his own taxes or check the visa date of his employee, the man who failed the NY banking system and so was promoted to fail on a National level as Treasury Secretary is doing a standup comedy act in Asia. "Chinese financial assets are very safe," Geitner said, and the normally polite and reserved Chinese audience could not restrain their laughter. Sent to convince the Chinese that the US currency and the Obama Administrations policies can be trusted, Geitner brought down the house. Evidently the blatant lies and ridiculous statements that the Western press buys into hook line and sinker are not impressing the largest audience and fastest growing economic power in the world. The economic “black hole” of the Obama administrations economic policy has quickly come home to roost. 

"China has woken up. The West is a black hole with all this money being printed. The Chinese are buying raw materials because it is a much better way to use their $1.9 trillion of reserves. They get ten times the impact, and can cover their infrastructure for 50 years" said Nobu Su of Taiwan's TMT group which sends commodities to China. China has been stockpiling in recent months. While their steel exports are low 90 freighters of iron ore float off of Chinese ports, waiting for weeks to unload because of the huge buying spree on commodities. Especially since April of this year China has been grabbing large supplies of tin, zinc, copper, nickel, aluminum and various strategic metals, canola and soybeans, as well as crude oil. China also recently officially admitted it has raised it’s gold reserves by over 75%, up 454 metric tons of gold since 2003.