Bloombama News Service declares Euro problem solved, but the numbers don’t agree. They don’t even attempt to hide their attempt to manipulate opinion. Asia is starting to trade now – the Euro is “up” sligtly on the news of a $500 Billion bailout fund. US interest rates are zooming up suggesting People are dumping US Treauries and money is returning from whence it came. Stock indexes are also up, which matches the dollar becoming weaker again.
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I’m curious. If China, which holds a fire-drill-load of U.S. IOU’s, experiences a financial crash, which is possible by what I’ve read, what happens to us (U.S.) if China calls in the loans? And what if other note-holders like Japan follow suit?
Unless the US defaults on paying interest, China cannot demand payment before maturity. Since the Fed can create dollars to make interest payments. That won’t happen.
China could stop buying any new debt and could dump its current holdings in the secondary market. The result of that would be either higher interest rates or the Fed having to monetize the debt even faster, speeding up the day when US Debt gets downgraded.