Editor’s Note: The following report is excerpted from Jerome Corsi’s Red Alert, the premium online newsletter published by the current No. 1 best-selling author, WND staff writer and senior managing director of the Financial Services Group at Gilford Securities.

China’s foreign-exchange reserves have increased to a record $2.648 trillion at a time when the nation is going on an international buying spree, grabbing up energy rights even within the continental U.S., Jerome Corsi’s Red Alert reports.

As he warned in his book, “America for Sale: Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty,” Corsi warned that China will not forever be content to lend the U.S. money.

“Sooner rather than later, China will demand assets, including energy rights,” Corsi wrote. “With $2.648 in foreign-exchange reserves, China has the dollars needed to buy U.S. assets in record amounts.”

The nation has announced that the state-owned Chinese energy giant CNOOC is buying a multi-million dollar stake in 600,000 acres of South Texas oil and gas fields.

In a report on the story, the Houston Chronicle suggested China was “testing the political waters for further energy expansion into U.S. energy reserves.”

“That China is buying U.S. oil and natural gas rights in the continental United States will strike millions of Americans as paradoxical, especially since the U.S. continues to be a net importer of approximately 60 percent of the oil consumed in the United States,” Corsi wrote.

China reportedly paid $2.2 billion for a one-third stake in Chesapeake Energy assets, with CNOCC laying a claim to a share of the energy resources in South Texas that have the potential to produce up to half a million barrels of oil per day.

For more information on China’s purchase of oil rights in Texas, read Jerome Corsi’s Red Alert, the premium, online intelligence news source by the WND staff writer, columnist and author of the New York Times No. 1 best-seller, “The Obama Nation.

Red Alert’s author, who received a doctorate from Harvard in political science in 1972, is the author of the No. 1 New York Times best-sellers “The Obama Nation” and (with co-author John E. O’Neill) “Unfit for Command.” He is also the author of several other books, including “America for Sale,” “The Late Great U.S.A.” and “Why Israel Can’t Wait.” In addition to serving as a senior staff reporter for WorldNetDaily, Corsi is a senior managing director in the financial-services group at Gilford Securities.

Disclosure: Gilford Securities, founded in 1979, is a full-service boutique investment firm headquartered in New York City providing an array of financial services to institutional and retail clients, from investment banking and equity research to retirement planning and wealth-management services. The views, opinions, positions or strategies expressed by the author are his alone and do not necessarily reflect Gilford Securities Incorporated’s views, opinions, positions or strategies. Gilford Securities Incorporated makes no representations as to accuracy, completeness, currentness, suitability or validity of any information expressed herein and will not be liable for any errors, omissions or delays in this information or any losses, injuries or damages arising from its display or use.

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