Monday, April 18, 2011

U.S. Treasuries 'Ponzi scheme': ex-People's Bank of China official

You probably noticed that we are doing a bit of a link dump today. We have somewhere between 200,000 and 300,000 bookmarks in the link-vault that make for a handy, pre-screened, searchable database. Here's another, from a week ago via MarketWatch:
A former adviser to China's central bank said on Monday that China should have retreated from the U.S. government-bond market and instead allowed the yuan to appreciate more freely, warning that U.S. sovereign debt was akin to a giant Ponzi scheme, according to a newswire report that cited an editorial on Caixin Media Group's website....MORE
MarketWatch's confreres at Dow Jones had a longer article.