The great depression, this time in technicolor

The great depression, this time in technicolor


American banks prepare for the state bankruptcy of the United States of America, the Financial Times writes and suggests that financial institutions in the US are going to sell US treasury bonds big time over the next weeks. Pimco, one of the largest hedge funds already did the same two weeks prior to the Fukushima catastrophe. Whatever the reason for that decision may have been, it has proven to be a good one as the Japanese are now withdrawing their savings which are traditionally held in US t...


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