why?
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And, while you're at it, where is the $200 oil and $10 gas?
They are propping up their currency by using the dollars from the sale of Treasuries to buy their own currency in the FX markets. The demand pushes up, or at least dampens the decline, of their currency. Basic economics.
And "other people thought the same stupid thing" doesn't making thinking or declaring it any less stupid.
My guess is that they aren't comfortable to have Trillions of freezable assets. They are learning from the Russian experience.
their long term goal. It is not just china, quite many countries have been busy to dump U.S. debts. It is de facto reaction to Fed' recent move. Foreign investments reduced in those countries. It's just global contraction of economy. The dollar is flowing back to U.S.
Are we still worried about their cryptocurrency or was that just a freakout du jour?
It's to prop up the currency.
The whole point of buying treasuries was to avoid strengthening their currency. The dollar is strengthening against all of their trade counterparties. Why would they want to follow it higher?
that he's nicknamed [NT].
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