Chinese Treasury Dump Brings Its Total Holdings To One Year Low, As "UK" Continues Exponential Accumulation Of US Bonds

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Fri, 07/16/2010 - 10:32 | 473297 J.Caesar
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never tickle a sleeping dragon - harry potter

Fri, 07/16/2010 - 10:45 | 473342 Duuude
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Difenitely an imporbably cahrt.


Timmah !!!



Fri, 07/16/2010 - 17:08 | 474462 johngaltfla
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Actually the expression is:


"Never pee on your central banker's leg and tell him you're watering his flowers."

Fri, 07/16/2010 - 10:32 | 473299 Cookie
Cookie's picture

Yes NYT, pull your finger out for once

Fri, 07/16/2010 - 12:12 | 473593 BobWatNorCal
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"Hopefully someone with far more executive level access (NYT?) than us, will dare to challenge the status quo"
I think the NYT has groveled its way into the status quo. They're pretty shameless at framing agendas and averting eyes from stories that don't it the agenda these days....

Fri, 07/16/2010 - 13:29 | 473826 midtowng
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You don't suppose something fishy could be going on, do ya? The big banks wouldn't be trying to manipulate the world's capital markets. That would be unethical.

Fri, 07/16/2010 - 10:33 | 473302 buzzsaw99
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The UK has long been suspected (by me at the least) of being a proxy for the fed.

Fri, 07/16/2010 - 11:11 | 473431 Quinvarius
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Airstrip one is populated with our proletariat slaves.



Fri, 07/16/2010 - 11:18 | 473451 DaveyJones
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Dead on - you buy my debt and I'll buy yours, that way, we'll both have money

Fri, 07/16/2010 - 11:44 | 473509 Horatio Beanblower
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The "special relationship"?

Fri, 07/16/2010 - 10:34 | 473304 grunion
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Liquidating some missing gold?

Fri, 07/16/2010 - 10:33 | 473305 Hdawg
Hdawg's picture

Rothchild's BOE of course

Fri, 07/16/2010 - 10:38 | 473321 Tense INDIAN
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thats what i was thinking...

Fri, 07/16/2010 - 11:26 | 473464 Cheeky Bastard
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Brick Top: It'll get you in a lot of trouble thinking, Errol. If I were you, I wouldn't do too much of it.

Fri, 07/16/2010 - 11:24 | 473461 Cheeky Bastard
Cheeky Bastard's picture

Wow dude; I did not know this was 1875. Thanks for that.

Apparently the omnipotence of the Rothschild's knows no border. Say; did the Rothschild's spy network deliver Dow opening #s to Nathaniel before the FTSE Transatlantic mail ship could deliver it to other London Traders.

Fri, 07/16/2010 - 12:00 | 473553 Steak
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Cheeky...miss ya the most hetero way of course.  If your day needs a lil musiq, check check it:

Fri, 07/16/2010 - 14:15 | 473988 Heavy
Heavy's picture

Huh, what's going on?  Oh, I see.  Where's my pitch fork?!

Fri, 07/16/2010 - 10:36 | 473313 Pimp Juice
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Don't you remember that we have a "special relationship" with Great Britain? Obama hasn't given Cameron any DVD's yet!

Fri, 07/16/2010 - 10:36 | 473314 Stepney
Stepney's picture

Ah, so that is where Tony B'Liar and Gordon 'snotgoblin' Brownstuff hid all our money.

We'll send a little man round to collect it later. Thank's old chap.

Fri, 07/16/2010 - 10:37 | 473318 kaiserhoff
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UK as in Baldy Ben.  Closing in on a tipping point as more folks catch on?

Fri, 07/16/2010 - 10:39 | 473326 Dr. No
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If the UK suspects their currency is going to dive faster than the dollar, wouldnt it make sense to buy the bonds?  I mean its not like they are hard to find with so many being issued by the US of A.

Fri, 07/16/2010 - 10:43 | 473337 Cognitive Dissonance
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The reason: in it we read that in May 2010, China dumped $33 billion in Treasuries, bringing its total to the lowest since June 2009.

It seems the smarter Chinese rats are leaving the dumber (or at least fat and happy) American rats behind. I've always been amazed when people would spout such nonsense about China being forced to purchase US Treasuries for as long as they wish to be a part of the global economy. How it's in their best interest to buy our crap US bonds.

China will always do what's in their best interest. If that coincides with America, great. If not, they won't. China learned during the so called Gun Boat diplomacy era that they never ever again wish to be in a situation where their best interest is determined by being on the wrong end of the barrel of a gun.

Fri, 07/16/2010 - 10:53 | 473374 LoneStarHog
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I have also had to laugh at the China bashing and "...they need us...".

I had also stated over the past several years that China was accumulating a vast hoard of gold, which was proved to be correct.

I have also stated that China learned a lesson from the U.S. Gold Swaps (read Fort Knox).  I posit that they have taken this and applied it to their U.S. Treasury holdings by SWAPPING treasuries for commodities, mines, etc...things priced in U.S. Dollars.

Whatever few unencumbered remaining U.S. Dollar Denominated Assets are held, the losses of a declining dollar will be offset by the rise in gold.


Fri, 07/16/2010 - 11:30 | 473481 imapopulistnow
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We think alike.

Fri, 07/16/2010 - 11:23 | 473459 DaveyJones
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Let's see they're accumulating lots of gold and just about every other hard resource in the world, building lots of oil alternative energy and water systems, they actually manufacture things and are not swimming in debt up to their nostrils but yeah they need us cause we have Leonardo DiCaprio 

Fri, 07/16/2010 - 12:17 | 473609 Cognitive Dissonance
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If they take Leonardo, I'm going Chinese in a heart beat. They can take my dollars, my hard asset oil/gas/lumber etc resources, my PM's, even my wife. But if they take Leonardo, I'm renouncing my US citizenship, finding me a Chinese concubine and moving to China. :>)

Say it ain't so Leonardo, say it ain't so.

Fri, 07/16/2010 - 10:43 | 473338 EscapeKey
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"I buy yours, you buy mine"

Fri, 07/16/2010 - 10:51 | 473367 MarketTruth
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Fri, 07/16/2010 - 11:00 | 473409 Ripped Chunk
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Fri, 07/16/2010 - 11:30 | 473479 DaveyJones
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Sun, 07/18/2010 - 20:29 | 476358 1fortheroad
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You buy mine and I promise to buy yours later.

Fri, 07/16/2010 - 10:43 | 473339 Ancona
Ancona's picture

This is clearly stealth quantitative easing, just as the Carribbean banking centers purchases are. There just is not that much cash out there looking for low yield returns.



Fri, 07/16/2010 - 10:45 | 473343 Quintus
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Man, you guys are so lucky that we in the UK continue to fund your country like this.  Now, about that BP business...

Of course it suits us too as there's so much excess money lying about over here that the banks have stopped putting pre-approved credit card applications through our doors, and are now just stuffing cash through the letterbox every day.

I don't know who's buying Treasuries out of London, but I can only imagine it's the Fed acting through intermediaries.

Fri, 07/16/2010 - 10:54 | 473377 buzzsaw99
buzzsaw99's picture

Man, you guys are so lucky that we in the UK continue to fund your country like this.  Now, about that BP business...


Yeah, let's talk about it.

Fri, 07/16/2010 - 10:47 | 473350 sbenard
sbenard's picture


ECRI just hit -9.8% minutes ago.

It's a hair's breadth from calling a new recession!

Fri, 07/16/2010 - 11:27 | 473466 zaknick
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Fri, 07/16/2010 - 10:48 | 473352 Ragnarok
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I wonder if Bernanke has picked up an english accent yet?

Fri, 07/16/2010 - 10:48 | 473353 NOTW777
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yeah but cnbc is celebrating "obama wins"

Fri, 07/16/2010 - 10:49 | 473355 4shzl
4shzl's picture

. . . just who is doing all this "UK-based" buying?


What do we know about them?

Nothing. They're stand-offish . . .


Fri, 07/16/2010 - 12:37 | 473680 Gwynplaine (not verified)
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I just hope this doesn't jeopardize the B-3 bomber program.

Fri, 07/16/2010 - 10:52 | 473368 centerline
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I'd consider it a hedge against currency devaluation in light of what is going on.  BUT, that is simply too big a play.  Like going "all in."  So, if it walks like duck, talks like a duck...

Fri, 07/16/2010 - 10:57 | 473390 lizzy36
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One can visualize  ARS asking "the right people the right questions,  as soon as he finishes swallowing.  

Fri, 07/16/2010 - 12:00 | 473550 Steak
Fri, 07/16/2010 - 10:59 | 473399 Paper CRUSHer
Paper CRUSHer's picture

So that's why HAINES 'n HOBBS are wearing their Country-Ties this morning to CNBC in an all out inexorable display of "UNITED STATES WE STAND UNITED KINGDOM WE FALL"


Fri, 07/16/2010 - 11:00 | 473406 Instant Karma
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"This is increasingly appearing as shadow Fed debt monetization operation, operating out of the United Kingdom."


Fri, 07/16/2010 - 11:04 | 473417 buzzsaw99
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An old Greedspasm trick.

Fri, 07/16/2010 - 11:11 | 473432 bigdumbnugly
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is there a bastille anywhere in the DC area?

i feel like a little stormin'.

Fri, 07/16/2010 - 16:00 | 474318 Heavy
Heavy's picture

Getttt yer pitchforks here!  I got pitchforks who whats 'em!  (and BTW what do you have in barter?)

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