May 26, 2009

R.S. MCCAIN: “What did I tell you about bonds?”

Related: Beijing is caught in ‘trap’ over dollar. “Chinese and western officials in Beijing say China is caught in a ‘dollar trap’ and has little choice but to keep pouring the bulk of its growing reserves into the US Treasury, which remains the only market big enough and liquid enough to support its huge purchases.” How long will that last, I wonder?

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