Wednesday, April 20, 2011
China Urges US to Protect Creditors After S&P Warning (CNBC) -- "China's Foreign Ministry said on Tuesday that the United States must take "responsible" measures to protect investors in its debt after Standard & Poor's threatened to lower its credit rating on the United States due to a bulging budget deficit."
~ Hmm.. At first I thought, 'wow, what gall!' Why would China be telling the US how to 'run its business' as the expression goes? Why would China be adamant that we protect Creditors, which is another word for "Investors" which are basically cockroaches?
"About two-thirds (of China's foreign exchange reserves) are estimated to be invested in dollars (2 Trillion)... Beijing added about $260 billion of Treasury securities last year, according to U.S. data."
Ahh.. China urges US to 'protect' creditors because China IS the creditor
Its hard to maintain autonomy when indebted to others
Posted by Susquehanna at Wednesday, April 20, 2011