China cuts US Treasury holdings to 180 bln usd as dollar slides - GoFuckYourself.com

VeriSexy · 11-25-2004, 09:40 PM

China cuts US Treasury holdings to 180 bln usd as dollar slides - report

BEIJING (AFX) - China has cut the size of its US Treasury bond holdings in its foreign exchange reserves to 180 bln usd to avoid losses from a weakening US dollar, the Shanghai-based China Business News reported

The newspaper cited Yu Yongding, a member of the monetary policy committee under the central bank

It did not say how much of a reduction in Treasury debt this represented, and the central bank normally does not disclose the composition of its foreign exchange holdings

Yu, speaking at a seminar given at Shanghai University of Finance & Economics, was quoted as saying that China has cut the portion of US dollar-denominated assets as part of its foreign exchange reserves. He said this was largely a reduction in Treasury debt

The newspaper also quoted an unidentified source as saying that US dollar-denominated assets have in the past accounted for about 80 pct of China's foreign exchange reserves. Most of the US dollar assets were Treasury bonds or bills

China's end-September foreign exchange reserves stood at 514.5 bln usd, according to official data

http://futures.fxstreet.com/Futures/...9e32d306-02307

WTF!!!!!!!!! So they sold 334.5 Billion dollars worth of bonds over night?????

VeriSexy · 11-25-2004, 09:51 PM

Will tomorrow be a black friday?

BRISK · 11-25-2004, 10:21 PM

AlienQ - BANNED FOR LIFE · 11-25-2004, 10:25 PM

woa, that is serious cutting back as much as 35% on the USD!

Black Holiday time is close cuz thats some hardcore shit right there guys.

I bet CHina didnt tell Powell that during the summit ROFLMAO!

Doctor Dre · 11-25-2004, 10:26 PM

Thanx for doing that just BEFORE I get my fuckign payments assholes

Doctor Dre · 11-25-2004, 10:27 PM

This is definitly gonna fucking hurt

AlienQ - BANNED FOR LIFE · 11-25-2004, 10:29 PM

OOps thats a divestment of nearly over 60%!
Not 35%!

Holy fuck.

OzMan · 11-25-2004, 10:29 PM

Hmm not sure what to keep under the bed now, YUAN or EURO's

Doctor Dre · 11-25-2004, 10:30 PM

Woah good thing I just emptyed my paypal account earlier today ...

But I'm supposed to get over 10k in wires next week . Hopefully the $ won't loose too much value

Doctor Dre · 11-25-2004, 10:31 PM

Quote:

Originally posted by OzMan
Hmm not sure what to keep under the bed now, YUAN or EURO's

I'd go for euros anytime

Paul Markham · 11-25-2004, 10:44 PM

A US Treasury spokesman came to Europe recently to address UE finaciers. After his speech to shore up the dollar, it dropped further.

He talked about how concerned Bush was in the weakness of the dollar and the defecit, they must have thought with people like this in charge it's time to buy ruppes or baht. Anything they could get in fact.

BRISK · 11-25-2004, 11:11 PM

http://finance.yahoo.com/currency/co...EUR&amt=1&t=2y

Yeah I'm free, free fallin!

Dirty F · 11-25-2004, 11:13 PM

At least mac donalds pays out in Euro's.

neewwman · 11-25-2004, 11:24 PM

I was just reading in Newsweek a week ago that our deficit in the U.S. is being financed by China and we'd better hope they don't bail.

I wonder if tomorrow is going to be a black Friday.

Thanks, Bush, for putting our financial health in the hands of the Chinese.

Dildozer · 11-25-2004, 11:25 PM

LOL this is gonna hurt

Congrats America

Dirty F · 11-25-2004, 11:26 PM

Quote:

Originally posted by neewwman
I was just reading in Newsweek a week ago that our deficit in the U.S. is being financed by China and we'd better hope they don't bail.

I wonder if tomorrow is going to be a black Friday.

Thanks, Bush, for putting our financial health in the hands of the Chinese.

But...but...America doesnt need other countries, theyre are a world power which can do what it wants...

BRISK · 11-25-2004, 11:29 PM

Quote:

Originally posted by Battuss
But...but...America doesnt need other countries, theyre are a world power which can do what it wants...

Xenophage · 11-25-2004, 11:36 PM

Gold prices overnight pushed above $450 an ounce for the first time in 16 years

BUY GOLD

GLD ETF traded as a stock

VeriSexy · 11-25-2004, 11:38 PM

Quote:

Originally posted by BRISK
http://finance.yahoo.com/currency/co...EUR&amt=1&t=2y

Yeah I'm free, free fallin!

That is sad

OzMan · 11-25-2004, 11:46 PM

Quote:

Originally posted by LegendaryLars
Gold prices overnight pushed above $450 an ounce for the first time in 16 years

BUY GOLD

GLD ETF traded as a stock

Damn

I remember in 1981 when gold was like close to $1000 an ounce.
I was working for a mining company in an EXTREMELY remote area, we used helicopters and 4WD's.

So anyway we drive around the corner on this bumpy dirt track and there is this huge RV parked there (I don't know how the fuck they got it in there) with two grandma's about 90 years old wandering around with their metal detectors

Paul Markham · 11-25-2004, 11:48 PM

Quote:

Originally posted by neewwman
I was just reading in Newsweek a week ago that our deficit in the U.S. is being financed by China and we'd better hope they don't bail.

I wonder if tomorrow is going to be a black Friday.

Thanks, Bush, for putting our financial health in the hands of the Chinese.

It will be very interesting to see what happens when the European markets open.

But don't just blame Bush, you have to remember all the people who voted for him and his previous outstanding record with management of the US economy.

Where is 12clicks to tell us how good Bush is when you need him?

Dirty F · 11-25-2004, 11:50 PM

Quote:

Originally posted by charly

Where is 12clicks to tell us how good Bush is when you need him?

US can be a total shithole where people are dying of starvation and he will still live in a fantasy world claiming theyre doing fine.

xclusive · 11-25-2004, 11:50 PM

I've been collecting gold for 3 years it's having a nice return...

Xenophage · 11-25-2004, 11:54 PM

Quote:

Originally posted by xclusive
I've been collecting gold for 3 years it's having a nice return...

and now trading it as a stock you dont ahve to hold it and there is very little transaction cost.. prefect for protecting against the falling dollar

Dirty F · 11-25-2004, 11:55 PM

Quote:

Originally posted by xclusive
I've been collecting gold for 3 years it's having a nice return...

BRISK · 11-26-2004, 12:00 AM

Imagine if OPEC decides to price oil in Euros instead of $$$?

OzMan · 11-26-2004, 12:05 AM

Quote:

Originally posted by BRISK
Imagine if OPEC decides to price oil in Euros instead of $$$?

Bush invaded Iraq to prevent that happening as the US economy would likely collapse 1920's Depression style.

Instead he has just delayed it a few months or a couple years at most.

VeriSexy · 11-26-2004, 12:06 AM

Quote:

Originally posted by charly
It will be very interesting to see what happens when the European markets open.

But don't just blame Bush, you have to remember all the people who voted for him and his previous outstanding record with management of the US economy.

Where is 12clicks to tell us how good Bush is when you need him?

The news has not hit CNN or Fox so not many people will know about it. If the news is true, the people that know will try everything they can to stop the news from getting out and slowly sell.

Doctor Dre · 11-26-2004, 12:11 AM

Quote:

Originally posted by neewwman
I was just reading in Newsweek a week ago that our deficit in the U.S. is being financed by China and we'd better hope they don't bail.

I wonder if tomorrow is going to be a black Friday.

Thanks, Bush, for putting our financial health in the hands of the Chinese.

Actually just for spending money you guys didn't have

Doctor Dre · 11-26-2004, 12:13 AM

Quote:

Originally posted by charly
It will be very interesting to see what happens when the European markets open.

But don't just blame Bush, you have to remember all the people who voted for him and his previous outstanding record with management of the US economy.

Where is 12clicks to tell us how good Bush is when you need him?

He's gonna come and try to find a way to put it on you

Doctor Dre · 11-26-2004, 12:13 AM

Quote:

Originally posted by Battuss
US can be a total shithole where people are dying of starvation and he will still live in a fantasy world claiming theyre doing fine.

You expressed this better then I did

Doctor Dre · 11-26-2004, 12:14 AM

Quote:

Originally posted by VeriSexy
The news has not hit CNN or Fox so not many people will know about it. If the news is true, the people that know will try everything they can to stop the news from getting out and slowly sell.

Let's just HOPE ... cauz I really want thoses wires . Not 0.25 per 1 $ canadian $

OzMan · 11-26-2004, 12:20 AM

Quote:

Originally posted by VeriSexy
The news has not hit CNN or Fox so not many people will know about it. If the news is true, the people that know will try everything they can to stop the news from getting out and slowly sell.

It will hit very soon

Bloomberg 30 mins ago

Reuters 15 minutes ago

VeriSexy · 11-26-2004, 01:08 AM

Quote:

Originally posted by OzMan
It will hit very soon

Bloomberg 30 mins ago

Reuters 15 minutes ago

TOKYO (Reuters) - The dollar fell to a record low against the euro on Friday and a four-year low versus the yen as traders seized on a report that China has pared down its U.S. Treasury bond holdings.

The report in Shanghai-based China Business News quoted a member of the Chinese central bank's monetary policy committee as saying the country had trimmed its Treasuries in foreign exchange reserves to $180 billion, trying to minimize losses from a falling dollar.

While skeptical of the report, market players still jumped on it as more proof the dollar's sharp slide is a long way from over, with no sign of central banks standing in the way.

"I think the China story's going to have some legs," said Luke Waddington, head of forex trading at Royal Bank of Scotland in Tokyo.

"People don't really need any reasons to sell the dollar. If they are given a reason it's just putting petrol on the fire."

The dollar fell to a record low against the euro of around $1.3330. Against the yen, the dollar fell to its lowest level since March 2000 at 102.15 yen, though a prominent electronic platform had quoted it at 102.01 yen.

Let's hope it's just a rumour

12clicks · 11-29-2004, 07:03 AM

Quote:

Originally posted by Battuss
US can be a total shithole where people are dying of starvation and he will still live in a fantasy world claiming theyre doing fine.

ahahahahaha, loser. keep wishing for the US's downfall. You won't see it in your lifetime.

theking · 11-29-2004, 08:10 AM

Quote:

Originally posted by 12clicks
ahahahahaha, loser. keep wishing for the US's downfall. You won't see it in your lifetime.

China has denied the story...but there will continue to be those that believe it.

sacX · 11-29-2004, 08:26 AM

China couldn't sell 180 billion over night.. there has to be someone to buy it.

If you have 180billion dollars of a currency do you want to collapse that currency?
It's very unlikely, unless you had some sort of malicious intent, and that's a VERY expensive way of going about it.

Manowar · 11-29-2004, 08:32 AM

The conversion rates at the moment really fucking hurt me

11-25-2004, 09:40 PM	#1
VeriSexy Join The Royal Family Join Date: Apr 2002 Posts: 25,463	WTF!!!!!!!!! China sold 334.5 Billion dollars worth of bonds over night????? China cuts US Treasury holdings to 180 bln usd as dollar slides - report BEIJING (AFX) - China has cut the size of its US Treasury bond holdings in its foreign exchange reserves to 180 bln usd to avoid losses from a weakening US dollar, the Shanghai-based China Business News reported The newspaper cited Yu Yongding, a member of the monetary policy committee under the central bank It did not say how much of a reduction in Treasury debt this represented, and the central bank normally does not disclose the composition of its foreign exchange holdings Yu, speaking at a seminar given at Shanghai University of Finance & Economics, was quoted as saying that China has cut the portion of US dollar-denominated assets as part of its foreign exchange reserves. He said this was largely a reduction in Treasury debt The newspaper also quoted an unidentified source as saying that US dollar-denominated assets have in the past accounted for about 80 pct of China's foreign exchange reserves. Most of the US dollar assets were Treasury bonds or bills China's end-September foreign exchange reserves stood at 514.5 bln usd, according to official data http://futures.fxstreet.com/Futures/...9e32d306-02307 WTF!!!!!!!!! So they sold 334.5 Billion dollars worth of bonds over night????? __________________ Looking for a KICK ASS TEEN SPONSOR? Check out ROYAL CASH - THE KING OF TEEN! Incredible webmaster tools FHGs, Morphing Blog and RSS Feeds, Embedded FLV & WMV Videos. With TOP RATIO Sites like TeenStarsOnly.com - Earn $$ with our New Site & Bonus Payouts!! ATMovs.com \| iTeenVideo.com \| TeenSexMovs.com \| TeenSexMania.com Last edited by VeriSexy; 11-25-2004 at 09:42 PM..

11-25-2004, 09:51 PM	#2
VeriSexy Join The Royal Family Join Date: Apr 2002 Posts: 25,463	Will tomorrow be a black friday? __________________ Looking for a KICK ASS TEEN SPONSOR? Check out ROYAL CASH - THE KING OF TEEN! Incredible webmaster tools FHGs, Morphing Blog and RSS Feeds, Embedded FLV & WMV Videos. With TOP RATIO Sites like TeenStarsOnly.com - Earn $$ with our New Site & Bonus Payouts!! ATMovs.com \| iTeenVideo.com \| TeenSexMovs.com \| TeenSexMania.com

11-25-2004, 10:21 PM	#3
BRISK Too lazy to set a custom title Join Date: Feb 2003 Posts: 12,240	__________________ I post on GFY so that when people ask me what I do, I can tell them that I work with the mentally retarded.

11-25-2004, 10:25 PM	#4
AlienQ - BANNED FOR LIFE best designer on GFY Join Date: Mar 2003 Location: IALIEN.COM - High Definition Video and Photographic Productions -ICQ 78943384 Posts: 30,307	woa, that is serious cutting back as much as 35% on the USD! Black Holiday time is close cuz thats some hardcore shit right there guys. I bet CHina didnt tell Powell that during the summit ROFLMAO! __________________ NAKED HOSTING FTW!11 I'm On The INSANE PLAN $9.95/mo! \| The Alien Blog Adult News Worth Reading Updated Daily \| Content For Sale! 641 PICS 216 MINUTES OF VIDEO $350.00 \|ICQ: 78943384 \|

11-25-2004, 10:29 PM	#7
AlienQ - BANNED FOR LIFE best designer on GFY Join Date: Mar 2003 Location: IALIEN.COM - High Definition Video and Photographic Productions -ICQ 78943384 Posts: 30,307	OOps thats a divestment of nearly over 60%! Not 35%! Holy fuck. __________________ NAKED HOSTING FTW!11 I'm On The INSANE PLAN $9.95/mo! \| The Alien Blog Adult News Worth Reading Updated Daily \| Content For Sale! 641 PICS 216 MINUTES OF VIDEO $350.00 \|ICQ: 78943384 \|

11-25-2004, 10:29 PM	#8
OzMan Confirmed User Join Date: Sep 2003 Location: Los Begas Posts: 9,162	Hmm not sure what to keep under the bed now, YUAN or EURO's

11-25-2004, 10:44 PM	#11
Paul Markham Too old to care Industry Role: Join Date: Jun 2001 Location: On the sofa, watching TV or doing my jigsaws. Posts: 52,943	A US Treasury spokesman came to Europe recently to address UE finaciers. After his speech to shore up the dollar, it dropped further. He talked about how concerned Bush was in the weakness of the dollar and the defecit, they must have thought with people like this in charge it's time to buy ruppes or baht. Anything they could get in fact. __________________ Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500. PM me for a deal. Skype Paulmarkham70

11-25-2004, 11:11 PM	#12
BRISK Too lazy to set a custom title Join Date: Feb 2003 Posts: 12,240	http://finance.yahoo.com/currency/co...EUR&amt=1&t=2y Yeah I'm free, free fallin! __________________ I post on GFY so that when people ask me what I do, I can tell them that I work with the mentally retarded.

11-25-2004, 11:13 PM	#13
Dirty F Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Posts: 59,204	At least mac donalds pays out in Euro's.

11-25-2004, 11:24 PM	#14
neewwman Confirmed User Join Date: Jan 2002 Location: Los Angeles, CA, USA Posts: 1,737	I was just reading in Newsweek a week ago that our deficit in the U.S. is being financed by China and we'd better hope they don't bail. I wonder if tomorrow is going to be a black Friday. Thanks, Bush, for putting our financial health in the hands of the Chinese. __________________ Porn Wealth Everything the newbie adult webmaster needs to know. Buy it, or sell it through our 50% affiliate program!

11-25-2004, 11:25 PM	#15
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	LOL this is gonna hurt Congrats America __________________ Spam link here

11-25-2004, 11:36 PM	#18
Xenophage Registered User Industry Role: Join Date: Oct 2001 Posts: 12,122	Gold prices overnight pushed above $450 an ounce for the first time in 16 years BUY GOLD GLD ETF traded as a stock

11-25-2004, 11:50 PM	#23
xclusive Too lazy to set a custom title Join Date: Apr 2004 Location: Buffalo, NY Posts: 35,218	I've been collecting gold for 3 years it's having a nice return... __________________ I support MediumPimpin.com / Shemp's Outlawtgp.com /

11-26-2004, 12:00 AM	#26
BRISK Too lazy to set a custom title Join Date: Feb 2003 Posts: 12,240	Imagine if OPEC decides to price oil in Euros instead of $$$? __________________ I post on GFY so that when people ask me what I do, I can tell them that I work with the mentally retarded.

11-29-2004, 08:26 AM	#37
sacX Confirmed User Join Date: Dec 2002 Location: New Zealand Posts: 2,998	China couldn't sell 180 billion over night.. there has to be someone to buy it. If you have 180billion dollars of a currency do you want to collapse that currency? It's very unlikely, unless you had some sort of malicious intent, and that's a VERY expensive way of going about it. __________________ Have Asian Language Traffic?

11-29-2004, 08:32 AM	#38
Manowar jellyfish Join Date: Dec 2003 Posts: 71,528	The conversion rates at the moment really fucking hurt me