“The Chinese central bank creates money out of nothing, just as the Federal Reserve does. Then it takes this newly counterfeited money and buys U.S. government debt, just as the Federal Reserve does. It bought $25 billion of this debt last month. The Federal Reserve bought $45 billion. So, when it comes to currency-rigging, which central bank is the greater culprit? The two economies, China’s and America’s, are addicted to the drug of fiat money. The first central bank to quit counterfeiting — the first one to ‘taper’ — starts the international recession. The first one to stop inflating permanently will turn the recession into a depression. Which will it be?”
http://teapartyeconomist.com/2013/07/17/chinas-central-bank-subsidizes-the-federal-deficit/
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