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A Suddenly Nervous China Tells The US To “Earnestly Take Steps” To Avoid A Default | Zero Hedge

A Suddenly Nervous China Tells The US To “Earnestly Take Steps” To Avoid A Default | Zero Hedge. (FULL ARTICLE)

While the world’s largest hedge fund, the Fed, may not care about the performance of its “bad bank” assets, and thus is largely ambivalent if the US Treasury defaults on the $2 trillion in US paper held by Ben Bernanke, others don’t have the luxury of merely printing away any incurred MTM losses. Such as America’s largest foreign creditor China, which at last check held at least $1.277 trillion in US Treasurys, which after realizing with a substantial delay that the US Congress is not precisely a “rational actor” and its bonds may be materially impaired in the case of a technical default, is starting to panic. In an oped in the largest media publication, China Daily, vice finance minister Zhu Guangyao, warned that the “clock is ticking” to avoid a US default that could hurt China’s interests and the global economy. Somehow we doubt Boehner or Obama are particularly concerned about what happens to “Chinese interests.”  Of course, if China so wishes, it can pen an Op-Ed in the NYT and tell the US just what will happen if $1.3 trillion in US Treasurys were suddenly to be dumped in a liquidation fire sale.

More from BBC:…

 

Vladimir Putin Addresses America In NYT Op-Ed; Calls For Caution In Syria, Denounces “American Exceptionalism” | Zero Hedge

Vladimir Putin Addresses America In NYT Op-Ed; Calls For Caution In Syria, Denounces “American Exceptionalism” | Zero Hedge.

 

Op-Ed: 54,500 job lost in March questions Canada’s Economic Action Plan

Op-Ed: 54,500 job lost in March questions Canada’s Economic Action Plan.

 

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