August 9, 2007
One Big Reason Markets are Plunging
China's Threat to the Dollar is Real
By PAUL CRAIG ROBERTS
Twenty-four hours after I reported China’s announcement that China, not the Federal Reserve, controls US interest rates by its decision to purchase, hold, or dump US Treasury bonds, the news of the announcement appeared in sanitized and unthreatening form in a few US news sources.
read more below
http://www.counterpunch.org/roberts08102007.html
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