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> Collapse of U.S. Economy Imminent

6 November 2006 12:48
6 Nov 06 Ninety six days ago the purchasing agency for the People’s Republic of China notified the US Treasury that as of the end of October, 06 they would have an aggregate value of slightly more than US$1 Trillion, and that they would then terminate their purchase of US Treasury and Dollar instruments. The termination happened six days ago. As of September 30, 2006, the aggregate North American and Western European banks (only) open derivative position, probably mostly interest swaps, was US$771 Trillion. What will happen if there is a rapid increase in interest rate which (...)


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