China Bought More Treasuries Than Disclosed, Perhaps Illegally; Nuclear Dollar Dumping Theory Revisited

``Not only did China buy more treasuries than disclosed, it did so in violation of Treasury auction rules.'' -- Mish's latest rant in the "will China dump Treasuries?" saga. Of course, he is right: China has not "dumped" Treasuries. You'll know when they do. And we know this is an unsustainable arrangement and they are angling to get out of it -- and things that aren't sustainable have a way of going on, until they don't.