[Ghost of Philip Marlowe]

No, it is because when the dollar is destroyed, they will own something real.

At the beginning of the year, much of the very small uptick in real-estate sales in CA were from China buying foreclosed property.

They know our dollar is going to be worthless, so they are (de facto) buying our land cheap.

[babble-on]

So they’re happy writing off the TRILLION dollars of UST debt they own, are still buying and have no apparent desire to sell?

[kara2008]

No, it is because when the dollar is destroyed, they will own something real....They know our dollar is going to be worthless, so they are (de facto) buying our land cheap.

exactly.