OT Chinese imports and US Treasury Bonds

[Dean May]

Look at trade imbalances this way: we give them worthless paper and they
give us durable goods. It is a great deal for us until they decide to try to
use that worthless paper to buy durable goods from us. When everyone tries
to cash in their holdings of fiat money, that is when the bottom falls out,
baby.

Dean
Dean May             cell 812.239.3359
PianoRebuilders.com   812.235.5272
Terre Haute IN  47802

-----Original Message-----
From: pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org]On Behalf
Of Phillip Ford
Sent: Friday, August 20, 2004 1:44 PM
To: pianotech@ptg.org
Subject: OT Chinese imports and US Treasury Bonds

>Horace Greeley writes:
>
>P.S. ...China holds ~ $1 billion (yes), in U.S. Treasury Bonds, not
>counting stock investments....hg

I think the numbers are much bigger than that.  We're running a huge trade
deficit with China (to keep this somewhat on topic, some of that is in the
form of pianos - I believe Pearl River is now one of the largest, if not
the largest, piano manufacturers in the world).  We're choosing to buy
pianos
from China rather than make them here.  They're choosing (perhaps
fortunately for us), for the moment, to put some of that money they're
getting from us back into our economy.

http://www.atimes.com/atimes/China/FF22Ad06.html

PF




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