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(Zero Hedge)   We can relax now. China dumped $34.2 billion worth of T-bills, so we're back to being mostly owned by the Japanese now   (zerohedge.com) divider line 262
    More: Interesting, t-bills, foreign investors, ETF, Beijing, holders, nuclear attack, mainland, liabilities  
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20119 clicks; posted to Main » on 16 Feb 2010 at 8:08 PM (4 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2010-02-16 08:25:00 PM
Gato Negro: So the bowing and groveling tour didn't work out?

[stupid pic]

/oh well, so much for the new 'smart' diplomacy we've heard so much about...


Do you really want to see a bunch of pictures of your favorite dipsh*t GW Bush in China? Remember when he wore the outfit and couldn't open the big costume door? Cause he was trying to run out of the room after making a fool of himself (as usual). It was like a vaudeville act.

/don't even have the energy
 
2010-02-16 08:32:47 PM
$34 billion? Thats like what wall street gave out in bonuses...I wouldn't panic to much.
 
2010-02-16 08:35:10 PM
GaryPDX: TFA says a UK source bought most of it. I'd sure like to know who's buying it. Follow the money.

The fed bought it with imaginary money from nowhere?
 
2010-02-16 08:37:44 PM
Wow, G.W.Bush really did piss off the entire effing planet.

Just wow.

/Good thing he isn't still president, he would likely have us invade China to search for WMDs or something.
 
2010-02-16 08:43:53 PM
studebaker hoch: Wow, G.W.Bush really did piss off the entire effing planet.

Just wow.

/Good thing he isn't still president, he would likely have us invade China to search for WMDs or something.


Oh please...he was a complete pussy when it came to the Chinese. But to be fair, so is every other president.
 
2010-02-16 08:44:03 PM
Was it over when the Germans bombed Pearl Harbor?
 
2010-02-16 08:45:22 PM
Is this the part where China attacks us with its superfluous males, now that it wouldn't be taking a financial loss?
 
Al!
2010-02-16 08:45:46 PM
TehNacho: Pfffffft. I'm not worried. Japan owes us from when we saved them from Sadam in WWVietNAM.

FTFY
 
2010-02-16 08:45:46 PM
Bet you 100 soon to be worthless dollars that the Federal Reserve open market operations bought that debt. And they'll get away with it, too.

/there's no way to prove me wrong.
//isn't secrecy a wonderful thing?
 
2010-02-16 08:45:55 PM
studebaker hoch: he would likely have us invade China to search for WMDs or something.

China proved they had WMDs back in the 60's. It's no secret.

http://en.wikipedia.org/wiki/596_%28nuclear_test%29
 
2010-02-16 08:46:34 PM
studebaker hoch: Wow, G.W.Bush really did piss off the entire effing planet.

Just wow.

/Good thing he isn't still president, he would likely have us invade China to search for WMDs or something.


Cool analysis, bro!
 
2010-02-16 08:48:07 PM
Subby should have left either one of the two "nows" out of the headline and it would have sounded better.
 
2010-02-16 08:50:44 PM
OH fark
 
2010-02-16 08:52:56 PM
HurricaneMikey: So, do the Japanese want to be kissed when we do sex to them?

As someone dating a Taiwanese (close enough I say), the answer is: yes. But make sure your orgasm giving skills are up to par, that's the way to really hook 'em.
 
2010-02-16 08:53:02 PM
HellRaisingHoosier:
If nothing else, this Global Recession has shown the economical strength of the United States. Sure, we got a bloody nose, but who didn't? What I mean by that is; has the United States been surpassed by another country as a/the new economical power-house? The answer is not surprisingly, 'no'.


Who didn't get a bloody nose? The Canadians. They had a tightly-regulated banking system and mortgages and are now increasing the regulation to ensure that their banks and mortgage institutions stay stable. The thing is, they're so flush with cash now that they're buying up banks wholesale in the US. Add to that all their oil and they're actually sitting pretty.

Was the US surpassed as an economic power? No, but what happened that's a heck of a shock is that the spread between the US currency and the others has narrowed. Yes, it's still the reserve currency of choice, but the fact that there are increasing choices is a bell-weather.

I think the next big pothole will not be Greece coming from behind to reach around while buggering up the economy but the pound (new window).
 
2010-02-16 08:53:26 PM
Our long national nightmare is over.

And anyone who compares Mao to Obama is an ignorant fool.
 
2010-02-16 08:56:31 PM
GAT_00: Weaver95: this could be a really bad thing for us, but i'll have to do some more reading on the subject before forming up a more solid opinion.

They're just trying to frighten us. Just ignore them. They won't dump all their T-bills, they can't. China is trying to make us think we will and get us to flinch.


Flinch how?
 
2010-02-16 09:00:42 PM
HurricaneMikey: So, do the Japanese want to be kissed when we do sex to them?

No.

And try to limit what you do with your hands as well.

Also, brush up on your conversational skills (politics, sports, movies, music, etc.), just dont talk business, as it's not your place to do so.

Try and develope a taste for fish.

And lastly, enjoy yourself. You'll do fine.
 
2010-02-16 09:01:21 PM
All right! All the 1980s sci-fi that predicted Japan owning everything has cred again!
spengo.files.wordpress.com
/The Pan Am logo is currently used by a freight railroad
 
2010-02-16 09:02:06 PM
They buy our bonds -- they're threatening to dump them and make the dollar worthless.
They don't buy our bonds -- they're threatening not to buy them and make the dollar worthless.

These Chinese are clever, very clever.
 
2010-02-16 09:05:23 PM
Jaakobi: . But make sure your orgasm giving skills are up to par, that's the way to really hook 'em.


Women have orgasms?
 
2010-02-16 09:08:45 PM
KWillets: They buy our bonds -- they're threatening to dump them and make the dollar worthless.
They don't buy our bonds -- they're threatening not to buy them and make the dollar worthless.

These Chinese are clever, very clever.


Ancient chinese secret, eh?

And since the japanese own us now, does this mean I can get a Japanese mail order bride cheap?
 
2010-02-16 09:18:28 PM
Nem Wan: All right! All the 1980s sci-fi that predicted Japan owning everything has cred again!

I prefer the 60's and 70's sci-fi. We're not going to get as far as that 80's sci-fi crap.

www.weirdwildrealm.com

www.videovista.net

blogs.sfweekly.com
 
2010-02-16 09:18:35 PM
GaryPDX: TFA says a UK source bought most of it. I'd sure like to know who's buying it. Follow the money.

Richard Branson, J.K. Rowling, and the Royal Family

/guessing...
 
2010-02-16 09:20:22 PM
Forbidden Doughnut: GaryPDX: TFA says a UK source bought most of it. I'd sure like to know who's buying it. Follow the money.

Richard Branson, J.K. Rowling, and the Royal Family

/guessing...


With Greece melting down, it wouldn't surprise me. The 'peans are running for cover.
 
2010-02-16 09:21:07 PM
Next up: China Invades Alaska, US to annex Canada.
 
2010-02-16 09:22:03 PM
Al!: TehNacho: Pfffffft. I'm not worried. Japan owes us from when we saved them from Sadam in WWVietNAM.

FTFY


You're thinking of Stalin in Vietnam, I can see how you're confused, they both start with "S" and they were both Nazis from Australia, but next time, do a little research before calling me out, plebeian.
 
2010-02-16 09:22:10 PM
My 0.17 yuan:

$34.2 billion is 2.19% of our proposed 1.56t budget deficit for *this* year. [1]

If China does want to screw us they can just sit back an watch us do it for them.

[1] http://www.vancouversun.com/business/Obama+2010+budget+deficit+soars+record+tril lion/2509346/story.html?id=2509346
 
2010-02-16 09:22:55 PM
GAT_00: Well, I was told the second China did this, inflation would go through the roof. But look at that, still in deflation!

Of course the fact $34.2 million is not a huge percentage of their holdings may have something to do with that.
 
2010-02-16 09:23:25 PM
US National Debt: $12.4 trillion
Japanese National Debt: $9.6 trillion (871 trillion yen)

/Wonder if we own any of their debt
//Wonder if/how much they still owe us in WW2 debt
 
2010-02-16 09:24:44 PM
CitizenTed: As a salaried employee of a successful Japanese multi-national corporation, I would like to say that any Farker who treats me well will be considered for clemency when the North American "camps" begin operation.

I wouldn't be so sure you'd be on the right side of the fence.
 
2010-02-16 09:25:12 PM
USA! USA! USA!
 
2010-02-16 09:26:28 PM
SharkTrager: Of course the fact $34.2 million is not a huge percentage of their holdings may have something to do with that.

I get the feeling some Europeans are withdrawing from the Euro, running for cover. That 34 billion is 2-3% of China's total holdings and it was run through a UK point. I think some very rich Europeans are feeling as nervous as a long tailed cat in a room full rocking chairs over Greece.
 
2010-02-16 09:28:18 PM
drewkumo: CitizenTed: As a salaried employee of a successful Japanese multi-national corporation, I would like to say that any Farker who treats me well will be considered for clemency when the North American "camps" begin operation.

I wouldn't be so sure you'd be on the right side of the fence.


That's IT for you, drewkumo! As soon as I am placed in charge of Region 4 Sector B, you'll be first on the list for "relocation"! Sayonara, sucker!

/who put these straps on my arms?
//where am I?
///LET ME OUT OF HERE!!!!
 
2010-02-16 09:32:49 PM
CitizenTed: That's IT for you, drewkumo! As soon as I am placed in charge of Region 4 Sector B, you'll be first on the list for "relocation"! Sayonara, sucker!

lol..go for it.

"You cannot invade the mainland United States.
There would be a rifle behind every blade of grass."

- Admiral Isoroku Yamamoto
(Japanese Navy)
 
2010-02-16 09:36:44 PM
Ya, like Japan is gonna call in that debt! We'll send 34.2 billion nukes their way, and they know we'll do it too.
 
2010-02-16 09:37:21 PM
GaryPDX: TFA says a UK source bought most of it. I'd sure like to know who's buying it. Follow the money.

Good question- even the pros are puzzled

Link (new window)

The Treasury Department reported China's total Treasury holdings as of December 2009 at $755.4 billion, down from $789.6 billion in November 2009. That is a not insignificant $34.2 billion reduction. It would appear that China has quietly been making good on its intent to diversify away from its overly lopsided US Dollar based holdings in its massive reserves. Since July 2009, they have sold $45.1 billion in Treasuries and have slipped back to becoming the second largest holder of U S Treasury debt behind Japan, after they had become our largest customer back in October 2008.

I should point out however, that Hong Kong has been reporting a steady increase in the size of their US Treasury holdings for some time now, having basically doubled them since December 2008. It could be that the Treasury has taken some of the reported holdings out of the "China" category and put them in the "Hong Kong" category for classification purposes but I am unclear if that is the case. If that were true, then it would minimize the significance of the Chinese reduction in Treasury holdings that leaps out upon initial perusal of the report.

If we use a rough number of $800 billion at its peak, China was reportedly holding that amount back in July 2009. They are down to approximately $755 billion. Hong Kong however was near $115 billion in July and is presently reported to be holding close to $153 billion. Almost the entire difference in the China decrease is matched by a corresponding increase in the category noted by "Hong Kong".

We might have to wait until the June report (which comes out in August) to get a more in depth look at exactly what is going on in that aspect. That is when Treasury reclassifies a great deal of the holdings that get reported out of London and perhaps in this case, Hong Kong.
 
2010-02-16 09:37:51 PM
thesandbender: http://www.vancouversun.com/business/Obama+2010+budget+deficit+soars+record+tri l lion/2509346/story.html?id=2509346

Derp, derp deficit.

http://www.cnn.com/2008/POLITICS/07/28/2009.deficit/index.html[1]
http://www.cnn.com/2003/ALLPOLITICS/02/03/bush.budget/[2]
http://www.cbsnews.com/blogs/2008/09/29/couricandco/entry4486228.shtml[3]

[3]With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush's presidency.

It's the biggest increase under any president in U.S history.


On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That's a 71.9 percent increase on Mr. Bush's watch.


But I'm sure you were screaming about the deficit and national debt then too. So I'll give you a bye.

But it's ok if its all been justified by a war on terror, rather than saying it's to help the economy.
 
2010-02-16 09:40:22 PM
GaryPDX: Forbidden Doughnut: GaryPDX: TFA says a UK source bought most of it. I'd sure like to know who's buying it. Follow the money.

Richard Branson, J.K. Rowling, and the Royal Family

/guessing...

With Greece melting down, it wouldn't surprise me. The 'peans are running for cover.


Well, Greece did do a pretty farked up move.
 
2010-02-16 09:40:22 PM
GaryPDX: The 'peans are running for cover.

So what will the circumcised ones do?
 
2010-02-16 09:41:26 PM
GaryPDX: "You cannot invade the mainland United States.
There would be a rifle behind every blade of grass."

- Admiral Isoroku Yamamoto
(Japanese Navy)


Yeah, because American's now are the same as they were in the middle of WW2. Believe it or not, American's are not that exceptional.

Other country's civilians have just as many guns, often fully automatic ones, and use them way more often on other people.

Plus only Conservatives own guns; at least that's what I hear from the Tea-Partiers, so that's less than half the country.

I farking love Red Dawn too btw.
 
2010-02-16 09:42:33 PM
CygnusDarius: Well, Greece did do a pretty farked up move.

Backed by Goldman's Sach.
 
2010-02-16 09:46:47 PM
vygramul: GaryPDX: Follow the money.

Good idea.

Oh, look! We own most of our own debt!


Social Security owns about 2.5T. Which they will be drawing down on and not adding to in the very near future.

Link (new window)

And remember, money 'invested' in the government is not available to invest in and grow private industry.
 
2010-02-16 09:49:08 PM
That's just walkin' around money for the PLA. Call me when they dump an even trillion.
 
2010-02-16 09:49:36 PM
drewkumo: Yeah, because American's now are the same as they were in the middle of WW2. Believe it or not, American's are not that exceptional.

I have to disagree with this, fellow Wolverine. You guys back east have been severely pussified. Out here we actually do have options below grid. We have volcanoes, tsunamis, earth quakes and land. These alone makes us rather surly to government by nature. If you had the legal weapons I have in PA, you'd be hauled off to jail.
 
2010-02-16 09:49:57 PM
I currently have 17 Japanese guarantee certificates of the "You Will Not Be Summarily Executed If You'll Just Get In This Bag" ilk. I have 5 similar Chinese certificates.

Who wants to start the bidding?
 
2010-02-16 09:53:49 PM
Giblet: I currently have 17 Japanese guarantee certificates of the "You Will Not Be Summarily Executed If You'll Just Get In This Bag" ilk. I have 5 similar Chinese certificates.

Who wants to start the bidding?


lol..dude, those are useless unless you can get on the beach first.
 
2010-02-16 09:54:27 PM
drewkumo: CygnusDarius: Well, Greece did do a pretty farked up move.

Backed by Goldman's Sach.


In the end: Power (money) corrupts, absolute power (lots of money) corrupts absolutely.
 
2010-02-16 09:55:22 PM
GaryPDX: Giblet: I currently have 17 Japanese guarantee certificates of the "You Will Not Be Summarily Executed If You'll Just Get In This Bag" ilk. I have 5 similar Chinese certificates.

Who wants to start the bidding?

lol..dude, those are useless unless you can get on the beach first.


As long as they don't play the Pina Colada song...
 
2010-02-16 09:55:31 PM
GaryPDX: SharkTrager: Of course the fact $34.2 million is not a huge percentage of their holdings may have something to do with that.

I get the feeling some Europeans are withdrawing from the Euro, running for cover. That 34 billion is 2-3% of China's total holdings and it was run through a UK point. I think some very rich Europeans are feeling as nervous as a long tailed cat in a room full rocking chairs over Greece.


Yup.

Link (new window)

This morning gold scored a new all-time high when priced in terms of Euros at the PM London Fix. The situation in Greece, as well as the smoke coming out of Italy, Spain and Portugal, has European investors rightly worried over the stability of the Euro. If you were an investor who had labored over a lifetime to secure an inheritance for your children and were witnessing the cracks appearing in the foundation underlying the Euro, would it not be eminently sensible to seek out a safe haven to protect at least a portion of that wealth? That is precisely what is occurring and why gold is soaring into new highs in Euro terms.
 
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