June 4, 2011

WHAT COULD BE WRONG? China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills. “China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury. . . . China’s ownership of the U.S. national debt has decreased in each of the last five months on record, including November, December, January, February and March.”

UPDATE: ZeroHedge says don’t worry, be happy. Which is unusual for them . . .

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