I don't know about anyone else but this concerns me.... a sign of things to come? It's a great article, but to allow a "Communist Country" to buy direct... I thought we were idiots for getting into such deep debt with them in the first place.
http://www.reuters.com/article/2012/05/ ... 1720120521
Exclusive: U.S. lets China bypass Wall Street for Treasury orders
China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, according to documents viewed by Reuters.
The relationship means the People's Bank of China buys U.S. debt using a different method than any other central bank in the world.
The other central banks, including the Bank of Japan, which has a large appetite for Treasuries, place orders for U.S. debt with major Wall Street banks designated by the government as primary dealers. Those dealers then bid on their behalf at Treasury auctions.
China, which holds $1.17 trillion in U.S. Treasuries, still buys some Treasuries through primary dealers, but since June 2011, that route hasn't been necessary.
China bypasses Wall Street - History
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China bypasses Wall Street - History
Even a broken clock is right twice a day
- E_
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Re: China bypasses Wall Street - History
It is a bit concerning
Buy American, the job you save just might be your own.
- Sunset Lady
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Re: China bypasses Wall Street - History
I agree, and if Obama gets elected again what will be next ?....
- E_
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- Joined: Fri Oct 24, 2008 10:26 pm
- Marina/Ramp: Currently mostly out of Jamestown but spend a lot of time at the other Marinas.
Pre2012-Conley Bottom Mostly, Waitsboro, Alligator I&II ramps, Leesford, Pulaski County Park (when it has water), Grider, State Dock (via boat), and Jamestown are a few places you might find me. - Location: Kentucky (Lake Cumberland)
- Contact:
Re: China bypasses Wall Street - History
God help us. Please understand most of us did not want to kick you out of our schools etc.
Buy American, the job you save just might be your own.