China dumps US Treasuries the most aggressively in a decade. Now THAT's a change you can believe in.
One has to wonder how long the UK, Japan and the US can keep supporting each other's crony capitalist oligopolies.
China Daily
China cuts US Treasury holdings in June
2009-08-18
NEW YORK: China reduced its holdings of US Treasury debt in June by the biggest margin in nearly nine years, according to a US Treasury Department report issued on Monday.
China cut its net holdings by 3.1 percent to $776.4 billion in June from $801.5 billion in May, the report says. This is also the first large-scale reduction of US Treasury debt by China so far this year.
However, its June holdings were still larger than April's $763.5 billion and $767.9 billion in March, according to the statistics of the Treasury Department.
Reuters data show the drop in China's Treasury holdings in June was the biggest percentage reduction since a 4.2 percent cut in October 2000.
On the other hand, Japan, the second-largest holder of US Treasury securities, increased its holdings to $711.8 billion in June from $677.2 billion in May.
The United Kingdom, the third largest holder, also increased its holdings to $214 billion in June from $163.8 billion, a surge of 30.6 percent.
"A new, invisible and at times virtual, tyranny is established, one which unilaterally and irremediably imposes its own laws and rules. Moreover, indebtedness and credit distance countries from their real economy and citizens from their real buying power. Added to this, as if it were needed, is widespread corruption and selfish fiscal evasion which have taken on worldwide dimensions. The will to power and of possession has become limitless." Francis I, 16 May 2013