After Dumping 30% Of Its Treasury Holdings In Half A Year, Russia Warns It Will Continue Selling
Posted by admin / Under Holdings Of American International Group
Just in time for the end of QE2, when the US needs every possible foreign buyer of US debt to step up to the plate, we get confirmation that yet another major foreign central bank has decided to not only not add to its US debt holdings, but to actively sell US Treasurys. The WSJ reports that "Russia will likely continue lowering its U.S. debt holdings as Washington struggles to contain a budget deficit and bolster a tepid economic recovery, a top aide to President Dmitry Medvedev said Saturday. "The share of our portfolio in U.S. instruments has gone down...
Published on Monday 21st of May 2012 12:49:02 PM
*****European Banks Desperate To Avoid Recognizing Losses On Their 8 Trillion Us Holding*****
Posted by admin / Under Holdings Of American International Group
Summary of key points: European banks own 8 trillion US assets (treasuries, agencies, consumer loans, etc…) and they are losing access to their dollar funding. If European banks are forced to sell their US assets, it will crash the credit markets, and they will have to recognize enormous losses. Since the fed is desperate to prevent the collapse of the US financial system, it lent those European banks 600 billion dollars so that they wouldn’t be forced to sell. Meanwhile, European banks accepted this 600 billion because they don’t want to recognize losses on their toxic US securities. What is...
Published on Monday 21st of May 2012 12:49:02 PM
China's economic 'bargaining chip'-Massive holdings in U.S. create 'financial muscle'
Posted by admin / Under Holdings Of American International Group
Four years ago, when the foreign-exchange reserves of China totaled about $450 billion and the value of China's holdings of U.S. securities was about $300 billion, former Treasury Secretary Lawrence Summers warned about the emergence of a global "balance of financial terror." Mr. Summers and others worry that U.S. consumption and investment levels are becoming dependent on "the discretionary acts" of other governments. Foreign governments and investors are accumulating huge pools of dollars by virtue of the massive trade deficits the United States has been running. What these governments decide to do with their rapidly growing dollar reserves could have...
Published on Monday 21st of May 2012 12:49:02 PM
Giuliani, Edwards pledge to act on their Sudan financial holdings
Posted by admin / Under Holdings Of American International Group
WASHINGTON: Presidential candidates Rudy Giuliani and John Edwards, who have spoken out about genocide in Darfur, did not know their financial holdings included investments in companies that do business in Sudan, aides said. An Edwards campaign spokesman said Thursday that the former Democratic senator would sell thousands of dollars of Sudan-related funds. "He did not know about it and will divest," Eric Schultz said following inquires about Edwards' portfolio. Giuliani, the Republican former mayor of New York, has at least one investment of between $500,000 (€370,000) and $1 million (€740,000) in a fund that holds stock in a company that...
Published on Monday 21st of May 2012 12:49:02 PM
CalSTRS to retain China oil holdings (PetroChina)
Posted by admin / Under Holdings Of American International Group
Fearing they could set an unwelcome precedent, trustees of the California State Teachers' Retirement System on Thursday rejected a call to shed holdings in PetroChina Co. The decision deals a setback to CalSTRS trustee and state Treasurer Phil Angelides, who pushed for divestment, arguing the fund faced "unwarranted risk" because of the government-controlled Chinese oil company's business ties in strife-torn Sudan and environmental disaster in northeastern China. CalSTRS, the nation's second largest public pension fund with $137.1 billion in assets, owns 19.9 million shares of PetroChina, worth about $15.5 million. Trustees also signaled little immediate interest in divesting investments in...
Published on Monday 21st of May 2012 12:49:02 PM
HOW GOOD IS THE DOLLAR?
Posted by admin / Under Holdings Of American International Group
HOW GOOD IS THE DOLLAR?Feb 11, 2005 - FreeMarketNews.comby staff reportsAt the recent International Center for Economic Growth (ICEG) annual get together in Davos, Switzerland, speakers from various countries commented on global warming, politics, economics and foreign currency relationships. Bill Bonner of the Daily Reckoning notes Fan Gan, a mid-level government official from China had some stark opinions about his government’s lost faith in the dollar. Fan remarked. "The U.S. dollar is no longer (seen) as a stable currency.” He sees his country moving away from having so much of its holdings in dollars. Bonner remarks, “As to why China...
Published on Monday 21st of May 2012 12:49:02 PM
CA: Stem cell holdings criticized
Posted by admin / Under Holdings Of American International Group
Ten of the 29 directors of California's new stem cell program serve on biotech or pharmaceutical firms' boards of directors or have extensive holdings in those industries, leading critics to challenge their ability to fairly represent taxpayers in doling out $3 billion in state funds. Members of the Independent Citizens Oversight Committee, created by voter passage of the stem cell initiative in November, reported interests ranging from real estate to movie production in statements of economic interest filed this week. Six members, including Sacramento physician Francisco Prieto and University of California, Davis, medical school head Claire Pomeroy, had no reportable...
Published on Monday 21st of May 2012 12:49:02 PM
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