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Author Topic: China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills  (Read 1450 times)
stic.man
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June 07, 2011, 05:52:09 PM
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http://cnsnews.com/news/article/china-has-divested-97-percent-its-holdin

Running away from the dollar perhaps?
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digdugg67
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June 07, 2011, 06:03:10 PM
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Author of the blog does not have a real good grasp of math and accurate reporting.

comparing apples to oranges. 

China still holds over 1.1 trillion of our treasury securities.

but if they decide to abandon the US dollar. Yep, we are screwed but so will they be too.  We are in bed together for better or worse. but China can dictate to us, we've lost our power. We are a debtor nation.

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June 08, 2011, 06:02:57 AM
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China still holds over 1.1 trillion of our treasury securities.

but if they decide to abandon the US dollar. Yep, we are screwed but so will they be too.  We are in bed together for better or worse. but China can dictate to us, we've lost our power. We are a debtor nation.
China owns 9.5% of our securities, this gives them dictatorship powers?

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June 08, 2011, 12:38:05 PM
 #4

See, even the Chinese know that the Republicans are going to destroy the US economy over the debt ceiling fight. Regardless of which side of the argument you come down on, it does not look like they are going to reach an agreement in time. Buy bitcoins, euros, yen, AUD, anything...just don't be holding USD on the day the US defaults...
Xiong Zhuang
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June 08, 2011, 12:47:11 PM
 #5

Does the USD falling down affect your American's life? I am Chinese and just curious. Just for you to know, in a big city of China, the average income of people is about 3k RMB but the price of a 100m2 apartment is about two million.
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June 08, 2011, 03:35:54 PM
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I can't tell if this report at cnsnews.com is accurate, especially the figure of 97%.  No sources cited, and I couldn't find this story anywhere else (I didn't spend too much time looking though).


Does the USD falling down affect your American's life? I am Chinese and just curious. Just for you to know, in a big city of China, the average income of people is about 3k RMB but the price of a 100m2 apartment is about two million.

Yes it is affecting American's lives.  How much, depends on which American.

Most of the inflation here is in gas prices.  Much of America is rural or suburban, and spread out, so it is not uncommon for someone to work one hour's drive from where they live.  That's two hours commuting each day.  And a lot of Americans have trucks, which have low gas mileage.  These Americans are hurting, because when gas goes over $5 per gallon and they have a long drive, now they are spending 30% of their paycheck just getting to work and back.  And now it is hard to sell their truck to get a car with better gas mileage, because nobody wants to buy a truck with low gas mileage when gas is expensive.  Also, with high gas prices, fewer families drive anywhere for vacation, which hurts people employed in tourism industry.

The other thing inflating a lot is food.  But for Americans with steady work who only spend say 10% of their paycheck on food, they can absorb the cost.  Unemployed and poor Americans might spend 50% of their paycheck on food, so this makes life much harder for them.  People so poor they don't have cars obviously aren't much effected by the gas prices.  But the working poor who need cars to get to work, they are really struggling to pay for the rising cost of food plus the rising cost of gas.


The only thing getting cheaper is housing.  Since the housing bubble crashed, houses are relatively cheap.  Rich people who were invested in real estate lost a lot of their investments (screw them - tough luck).  Then there are the average people who took out loans (a mortgage) to buy a house when they were overpriced.  We can separate these average folks into two camps:  those willing to foreclose and those who will not foreclose.  The folks who are willing to foreclose can cut their losses and move on.  Actually, foreclosing can even be great for them because after they file for foreclosure, it can take over a year for the bank to reclaim the house.  In the meantime, they are living in the house for free (not paying on the mortgage loan nor any rent).  News has written about this free "squatters' rent" being beneficial to the economy.  Then there is the second camp of folks not willing to foreclose because it will ruin their credit.  If their credit gets ruined it makes it harder to get loans to buy new cars, a loan to get a new (but cheaper) house, etc..  So because they value their good credit rating and refuse to foreclose, they have to keep paying down their over-priced mortgage loan.  The only way out of that for them is to sell their house instead of foreclosing.  But selling a house is difficult, which brings us back to why houses are cheap.

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Xiong Zhuang
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June 08, 2011, 04:42:33 PM
 #7

Yes it is affecting American's lives.  How much, depends on which American.
……

Thanks you bitcoinBull, that's the real situation of American life.

I guess gas price climbing up is a global problem, the price in China is about 4.5$/gallon. It doesn't affect our life as much as the housing, but it
drives up the price of food and other goods of everyday use. Which is not the most horrible thing.

The insane price of housing here is most caused by the fucking government.(sorry) They are a bunch of greed monster, who use force to "buy" the land from people at a very low price, then sell it to the development and make a fortune with it. The bank loan money to the development to build houses, so they are benefit from this housing thing too. Beijing made some move to decrease the housing price but doesn't help at all, because every part of the government is benefit from this. And the Beijing keeps an eye close to this, the only thing they care is GDP.

Sorry for getting a little political, but this is how we are struggling. This can somehow explain why the middle class of Chinese tend to overseas emigrate. And USA is always our first choice. Grin
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June 11, 2011, 03:55:00 PM
 #8

just common sense.
investing with someone, using you money/efforts to harm you and you friends, isn't reasonable strategy.
but don't worry, Russian officials, blackmailed/bribed by US intel, keep crushing domestic finance/education/healthcare/military in favor of US[for nominal fee's probably].
and rest countries do. before learn some lessons.
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June 12, 2011, 06:23:14 PM
 #9

That is not a reputable website. I was shocked when I saw that headline, but absolutely no other sources verified it. I think it can be disgregarded.

However, this was released a day or two ago... http://blogs.wsj.com/marketbeat/2011/06/10/us-has-already-defaulted-says-chinese-rating-agency/?mod=google_news_blog

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June 13, 2011, 03:35:10 AM
 #10

WSJ as source ? haha.
probably facts could be nice, but there was none, yet.
interesting enough, that's Russian banks expunged lot of paper $/cash to US, last months.
which can have and can not have some meanings too.
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June 13, 2011, 06:12:13 AM
 #11

Our national parks are already in hock to the United Nations/IMF/WB as collateral for the national debt since using our people and wages as collaterial doesnt seem to be enough (see the federal reserve act, the 16th amendment income tax act, irs forms with IMF all over them, and the UN plaques at all the national parks).

They are selling us all down the river to enable a global state controlled by the united nations, giving our military over to them for enforcement, with finances controlled by them, ajudicated by the International Court of Justice at The Hague.

and 99.9999% of you dont even know it and make fun of those who do, and you refuse to believe it.

One World, One Dream ?

If you only truly knew what that means.

very sad.

Every major piece is in place.

The chessmasters have the board all set.

What will you do about it when they come knocking on your door ?

As Aleksandr Solzhenitsyn stated .....

"... and how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand?... The Organs would very quickly have suffered a shortage of officers and transport and, notwithstanding all of Stalin's thirst, the cursed machine would have ground to a halt! If...if...We didn't love freedom enough. And even more – we had no awareness of the real situation.... We purely and simply deserved everything that happened afterward ..."

Freedom is indeed just another word for "Nothing Left To Lose".


"... He is no fool who parts with that which he cannot keep, when he is sure to be recompensed with that which he cannot lose ..."

"... history disseminated to the masses is written by those who win battles and wars and murder their heroes ..."


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kylesaisgone
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June 17, 2011, 01:50:15 AM
 #12

China divested from short-term bonds into long-term bonds. Nothing to see here. China is simply calling the shots as they appear. The budget issue will be a major issue for the next few years, and we don't have the political capacity to properly deal with it, so China is moving in to longer-term investments, which makes sense.

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