Mar 19th, 2009 - The Huffington Post
The Chinese are starting to switch from investing in U.S. T-bills to buying hard assets for stockpiling or acquiring corporations at bargain-basement prices.
Others are buying gold. Or oil.
This week, Washington surprised markets by mopping up 5% of its own Treasuries, a form of printing money to finance deficits that the rest of the world isn't interested in financing any longer. Or cannot.
(This looming devaluation of the U.S. dollar I blogged about on February 3 in the Huffington Post calling it the Big Bang or monetization of massive deficits.)
