Central Bank on the MBS Ropes

[rffrydr]

Gut check time for Stephan Roach et. al. :

http://www.marketwatch.com/news/story/chinese-central-bank-may-need/story.aspx?guid=%7B032D3542%2D554A%2D4A9D%2DA2B4%2D4161C6985DC1%7D&dist=msr_5

Behind the Yuan cover story there is some serious depreciation issues. Greenspan said last summer that we had no fear of Chinese selling but they're sure trying to get out of buying.

http://ftalphaville.ft.com/blog/2008/07/21/14625/chinas-fannie-and-freddie-problem/
[note the commet]
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Today is the Tomorrow you worried about Yesterday!

[dknoester]

Further commentary by The New York Times on the above:

http://www.nytimes.com/2008/09/05/business/worldbusiness/05yuan.html?_r=2&ref=business&oref=slogin&oref=slogin

DK
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Be careful while stuffing your pockets not to lose your pants!!