by Martin Armstrong, Armstrong Economics:

As I have been warning, these STUPID Neocons threatening the world have ZERO respect for the American people or our economy. Threatening China when they are the largest holder of US debt is braindead. As I have said, China would be stupid if they did not start to dump every penny of US debt because when these Neocons start a war, they will default on all debt held by foreign enemies, which they define as anyone who opposes their commands.

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CHINA sold a record amount of Treasury and US agency bonds in the first quarter, highlighting the Asian nation’s move to exit the US debt market thanks to war. Beijing dumped a total of US$53.3 billion of Treasuries and agency bonds combined in the first quarter, based on Bloomberg calculations of the latest data from the US Department of the Treasury. Belgium, often seen as a custodian of China’s holdings, disposed of US$22 billion of Treasuries during the period.

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