China won't be buying U.S. government debt anymore

China's Central Bank Chairman Zhou Xiaochuan told a Chinese monetary conference last week that “Foreign-exchange reserves have exceeded the reasonable level that our country actually needs,” which is essentially code for China won't be buying U.S. government debt any more. China's foreign currency reserves exceeded $3 trillion at the end of March, more than $1 trillion of which is U.S. government debt.


The limit on America's national credit card may have been reached. Click here to read the rest of the article from New American.

I'm not sure how reliable this source is. My doubt stems mainly from the belief that if this were true, surely this story should have spread like wildfire, even with the mainstream media's best efforts to keep it under wraps.