Pure, uninformed speculation

Could it be that China is unloading treasury bonds in Europe?
The WaPo says:

The European Central Bank lent $84 billion Friday to financial institutions, a day after providing $130 billion.

That's a lot of cash, and I would think it was denominated in euros. It's a lot more than the Fed, or the Bank of Japan.

Could be the Saudis too, or both.

I've little to guide me but my suspicious mind, but could all this mortgage/hedge fund thing also be used to hide other facts, or just be the weak point in the edifice?