China stops America's Credit card

[ThePythonicCow]

Re: China stops America's Credit card

"Kirk said he was the first member of Congress to tour the Bureau of Public Debt, which trades bonds, and was alarmed at how much debt was being bought by the US Federal Reserve due to absence of foreign investors."

The most important quote.

Look on the bright side. Our Central Bank, the Fed, is getting higher quality paper on its balance sheets than the toxic crap it has been taking from the Banksters, and our Treasury is selling its debt paper to a close ally, the Fed, rather than to a major competitor, the Chinese.

(now which one of those Smiley Icons over on the right does one use to express deep cynicism?)