The Chinese government, run by its Communist party, constantly reminds the U.S. that we have too huge a budget deficit. The Chinese are troubled because they now own about $800 billion in U.S.Treasury obligations. And they see what is becoming a poor investment, what with the U.S.A. going ever further into debt. They realize that this cheapens the value of the bonds they own.
This is more than can be said about how the Obama administration treats the subject of sound money.
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