I believe this to be true, except I wouldn't use the word "hoard." They are simply in posession of trillions of dollars that are declining in value every day. Therefore, I believe they are transferring that imaginary American currency into something substantial and real -- that becomes more, not less, valuable every day. I think they have a Strategic Petroleum Reserve that makes ours look like it's the size of a five gallon gas can, and that they're filling it with every drop they can buy at any price.
I accept this exception. “Hoarding” may have been the wrong word. It would be most enlightening to know if they also have a SPR and how many millions or maybe billions of barrels they have stored away which they bought at an average of $90 a barrel while we Americans will be paying at the rate of $150 to $200 a barrel over the next year or two.