|China Dumps 97% of US T-Bills Holdings|
|by Tom McGregor||Sat, Jun 4, 2011, 10:33 pm|
According to CNS News, “Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nation’s debt. Mainland Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report …”
The Chinese have been generally making up for their decreasing holdings in Treasury bills by raising their holdings of longer-term U.S. Treasury securities until October, which means their overall holdings of U.S. debt continued to rise.
As reported by CNS, “prior to the fall of 2008, according to Treasury Department data, Chinese ownership of short-term Treasury bills was modest, standing at only $19.8 billion in August of that year. But when President George W. Bush signed legislation to authorize a $700 billion bailout of the
Accordingly by December 2008,
To read the entire article from CNS News, link here:
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