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????? :helpme

Will tomorrow be a black friday? :eek7

:(

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!

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

This is definitly gonna fucking hurt

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

Holy fuck.

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

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

I'd go for euros anytime :)

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.

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

Yeah I'm free, free fallin!

At least mac donalds pays out in Euro's.

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.

LOL this is gonna hurt

Congrats America :1orglaugh

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

:helpme

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


BUY GOLD

GLD ETF traded as a stock

That is sad :(

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 :1orglaugh

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?

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.

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

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

:uhoh

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. :2 cents:

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. :winkwink:

Actually just for spending money you guys didn't have

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

You expressed this better then I did

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

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.

:waaaaahh :waaaaahh :waaaaahh

Let's hope it's just a rumour

ahahahahaha, loser. keep wishing for the US's downfall. You won't see it in your lifetime.:1orglaugh

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

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.

The conversion rates at the moment really fucking hurt me :(