“China, meaning China’s central bank — the People’s Bank of China — started buying Treasury IOU’s again in March. It purchased $36 billion worth. It now holds over $1.2 trillion in Treasury IOU’s. China has now leaped ahead of Japan as the #1 foreign holder of U.S. government debt. Add Hong Kong to this: another $180 billion. In short, the Communists are subsidizing American consumers (cheap goods) and American politicians (low interest rates/more debt). The Chinese masses are paying for this: reduced wealth. Americans get this wealth. Communist politics + mercantilist economics = stupidity. It won’t go on forever. Enjoy it while you can.”
http://teapartyeconomist.com/2015/05/16/ious-china-buys-treasury-debt/
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