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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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I'm constantly wondering who keeps buying these bonds?
A glib answer would be the Banks...they trade the CDO's for $$$ and then put it back into T Bills..
The Chinese have been shortening the maturity dates when they roll over their T Bills and then eventually take the money off the table and go buy Korean debt, and Euro debt.
I am reminded of the old Safaris surfin song....WIPEOUT...
By 2018 the USA will be paying $1,000,000,000,000.00 a year in interest...that is 40% of the current tax revenues of 2.5T....That is 1T a year in a transfer of WEALTH...
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"Some Observer"
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