Monday, September 7, 2009

Our Major Lender: China Is Alarmed

The Feds policy of easing credit by printing money to buy bonds, in effect, loaning to ourselves, may create a major inflationary trend in years to come. China is already moving away from holding US dollars as reserves, and is instead, buying gold, Euros, etc.

The last line by Mr. Cheng in this article is interesting:

"He who goes borrowing, goes sorrowing," Mr. Cheng said.

It was a quote from US founding father Benjamin Franklin.
China Alarmed By U.S. Money PrintingO

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