Caixin Online — Rare look inside China’s stock-intervention war room

Westerners and Western educated Chinese just don't seem to get it.

Other critics questioned the wisdom of using central-bank financing. “The central bank may have plenty of resources to help the capital market sail safely through a crisis, but these resources are publicly owned and ultimately paid for by taxpayers, so it must be extra discreet when using them,” a source close to the central bank said.…

An investment banker who did not want his name printed added: “Market reform will never be successful if the government resorts to intervention at every a crucial moment.

MarketWatch
Rare look inside China’s stock-intervention war room
Caixin Online

Is the Treasury's HUGE surplus this month presaging a market selloff?

The Treasury is currently running a surplus of $123 bln. (See Daily Treasury Statement.) That is the largest monthly surplus since March 2010, when the figure was $173 bln.

The Dow was just above 11,000 back in April 2010. By June it was at 9614--a 14% decline.
There's no guarantee that it will happen again, however, we know from MMT that when the government runs a surplus the private sector runs a deficit (or sees its surplus reduced) by the same amount.