Not today, but someday, this may eventually be the lead in to the final chapter written on the financial crisis. China has quietly been buying our assets and has literally funded our bloated government for over a decade. And will continue to do so for all 4 years of the Obama term. The mere fact that China expresses any lost confidence in the dollar is huge.The media is burying this story in my opinion. Why would they? Because they love the Obama Spending Express. They think it's a free ride that will be paid for just by the top 2% of wealthy Americans (ignorance run wild). They know the voters can't stop the Express. The know the republicans can't stop it. No one can stop it--except the Chinese. And the propects are too horrible to contemplate. But this is one threat Obama better understand. If the Treasury keeps dumping dollars into the system we will start seeing 10-15% inflation. When The Chinese see their $1T nestegg evaporate in chunks by the billions they will slam the breaks on lending to us, accelerating the cycle. This would be the financial equivalent of lobbing an H-bomb at our system. And if that takes place, the greenback will go from being the world's most respected currency to the least respected toilet paper.IMO, this WILL BE the story. It is the one thing Obama can't spin with his adoring media, it is a cold fact that will rear it's head if he blows it. And he's blowing it.
I couldn't agree more
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