Quote:
Originally posted by charly
So many here seem to be blind to the fact that the US is in debt up to it's ears. Just read a few financial reports to see the debt.
And if thet owe the Chinese so much, think about how much they owe the Arabs.
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I agree, people are just blind and ignore the truth. More links, sources from all over the world including USA
http://www.oneworld.net/article/view/73234/1/
China is also using its large foreign currency reserves--a total of $356 billion--to buy more U.S. treasury bonds, which provide U.S. investors with capital for re-investment
http://wwwc.house.gov/International_...8/bian2021.htm
The People?s Republic of China presently receives approximately $4 billion each year from American taxpayers in the form of interest income on U.S. Treasury bonds held by the Chinese government. The PRC also enjoys a $100 billion annual trade surplus with the United States, giving them an estimated $400 billion current account. Yet the government of China continues its discriminatory evasion of payment to American bondholders. It is the position of the Chinese government that China should not have to honor their nation?s full faith and credit sovereign obligations if they choose not to. Such an insular worldview, flaunting the flagrant disregard of established principles of international trade and commerce, will not serve the interests of the PRC in the community of nations and is inconsistent with the status of the PRC as a most favored trading partner and member of the World Trade Organization. Such a posture can only act to harm the long term interests of both the United States and China.
The Economy:US to buy back national debt
http://news.bbc.co.uk/1/hi/business/...omy/411973.stm
It now says it will begin repurchasing Treasury bonds before they fall due, as early as next February, cutting back on the $3.6 trillion (£2.4 trillion) it owes to the public.
US Dollar Implosion - Part II
http://www.gold-eagle.com/editorials...eld120503.html
Asians Aren't Dumping U.S. Treasuries -- Yet
http://quote.bloomberg.com/apps/news...aCvJZv r6BM4I
China also has emerged a key U.S. Treasury holder. Maintaining its 8.3 peg to the U.S. dollar means buying lots of dollar assets. Politicians and manufacturers who complain that Beijing manipulates its currency to gain an unfair advantage fail to appreciate its role in holding down U.S. borrowing costs.