China's Banks Ordered to Stop Buying U.S. Debt
By Mike Adams, September 25, 2008 | Key concepts: National debt, Banks and China
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It's a huge move: China's banks have been ordered to stop buying U.S. debt (by loaning money to those banks). Remember: When foreign nations stop buying U.S. debt, it's the beginning of the end of the American empire of debt.
From Reuters.com: Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.... more
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