Since July 2011, China has collected $2.2 trillion in US trade surplus dollars and recycled none of them (net) into US Treasury debt. This after China recycled 50%+ of it's trade surplus into US Treasury's over the previous 11 years. So what has China been buying with all those dollars since 2011? Among other things, buying an awful lot of gold. Perhaps as much as a trillion dollars worth since July 2011...and on this ongoing gold buying, perhaps 5,000 tons but even potentially in excess of 10,000 tons, gold prices have fallen by a third!?! Conversely, on the buyers strike in Treasury's, yields fell by a third?!?