Uh Oh - They Used the "L" Word

China to 'liquidate' US Treasuries, not dollars – Telegraph Blogs

"Once the US Treasury market stabilizes we can liquidate more of our holdings of Treasuries," he said. To my knowledge, this is the first time that a top adviser to China's central bank has uttered the word "liquidate". Until now the policy has been to diversify slowly by investing the fresh $200bn accumulated each quarter into other currencies and assets – chiefly AAA euro debt from Germany, France and the hard core

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