China Getting Out Of The Dollar, Continues To Sell Treasuries

Here is from Yahoo. It is happening people. Stock market will crash along with the dollar. Stock market has not been a good protection during times of financial and monetary havoc historically. Buying precious metals and especially gold in the prior period and then switching to stocks in the aftermath and not completely of course. You always want to hold onto some gold at the least (at the least being 20% of your assets). That is what I am doing and will do. You can choose your own style at your own expense.

Here is the Yahoo article:

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China trims holdings of Treasury securities

China trims holdings of US Treasury securities for third month as US federal deficit soars 

Martin Crutsinger, AP Economics Writer, On Monday March 15, 2010, 9:05 am

WASHINGTON (AP) -- China retained its spot as the biggest foreign holder of U.S. Treasury debt in January although it trimmed its holdings for a third straight month. The string of declines are likely to underscore worries that the U.S. government could face much higher interest rates to finance soaring budget deficits.

The Treasury Department said that China's holdings dipped by $5.8 billion to $889 billion in January compared to December. Japan, the second largest foreign holder of U.S. government debt, also trimmed its holdings but by a much smaller $300 million to $765.4 billion.

Net foreign purchases of long-term securities, a category that includes both government and corporate debt, totaled $19.1 billion in January, as net purchases of private corporate bonds fell by $24.8 billion, the biggest drop on record.

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