Posted 7/30/2020 22:05 (#8406143 - in reply to #8406046) Subject: RE: China doesn’t have to do s&$t and won’t
PatCMO - 7/30/2020 21:34
You think China has to write the US a check for anything? They own a big portion of our national debt. They hold the cards on us and we have allowed it to happen. Think about what happens if they would decide to call that debt in. Patrick
They hold less than 5% of the US debt. About $1 trillion. With the way things are going, the US treasury is going to be dumping three times that amount onto the bond market this year. Maybe more.
China may hold a number of good cards, but their US bond holdings aren't one of them. That debt has been inflated away. It's too small to make a difference anymore.