China Divests Itself of Treasury Bills

We have been watching for this...signs that tell us China says it has had enough of U.S. debt.  It looks like that day might be here.

(CNSNews.com) - China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury.


Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nation’s debt.


See it here; http://cnsnews.com/news/article/china-has-divested-97-percent-its-holdin

Of course we know that what China owns is hundreds of billions is U.S. Treasury Bonds...and this article is referencing Treasury Bills which are short term paper.  But what happens if they start dumping the bonds?  Who will step forward to buy them?  We have about $14 trillion worth of bonds which will all have to be refinanced in the next 5-6 years.  So who has $14 trillion to help us keep the Ponzi scheme alive?

Are you preparing yourself for strange times?  Are you holding the things of this world loosely?  Are you ready to let them go?  Or are you laying in bed at night wondering how you are going to protect all the treasures we have laid up for ourselves in the big barns we have built to hold all our stuff?

Are you being prompted by the Holy Spirit to lay up your treasures in heaven where moth and rust will never destroy them?