While we will have more to say about the disastrous December TIC data shortly, which was released early today, and which showed a dramatic plunge in foreign purchases of US securities in December - the month when the S&P soared to all time highs and when everyone was panicking about the 3% barrier in the 10 Year being breached and resulting in a selloff in Tsy paper - one thing stands out. The chart below shows holdings of Chinese Treasurys (pending revision of course, as the Treasury department is quite fond of ajdusting this data series with annual regularity): in a nutshell, Chinese Treasury holdings plunged by the most in two years, after China offloaded some $48 billion in paper, bringing its total to only $1268.9 billion, down from $1316.7 billion, and back to a level last seen in March 2013!

-SNIP-

Read more:http://www.zerohedge.com/news/2014-02-18...ho-comes-rescue

The big take away here isn't the Belgians bought the treasuries. The big take away is the China is in big trouble. They have a huge shadow banking crisis and no one is buying their cheap crap anymore.

Quote: algernonpj wrote in post #3

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Sounds like a game of the moving Ponzi scheme.

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