No it's not.
They take those paper pictures and exchange them for different paper (T-bills) issued by the Treasury to finance Dubya's deficit spending.
Then they siphon away our taxdollars as interest payments.
In the long-term, this will make our money worthless.
Then they'll foreclose on the debt and take possession of hard assets.
My guess is they'll probably want Alaska first.
Lotsa oil, few people to feed.
That can't happen and you know it. If they don't want dollar-denominated assets, their alternative is to quit exporting to us.