China Now Has Most US IOUs

A godless, Communist country that has long financed our lifestyle that has destroyed capitalism in now now the biggest holder of American IOUs.

China in September became the largest foreign holder of US treasuries ahead of Japan, the US Treasury Department reported in figures released Tuesday.

China held 585 billion dollars worth of treasuries, while Japan held 573.2 billion dollars, according to Treasury figures.

The United States, with the world's largest economy, has long relied on foreign purchases of government-issued bonds to finance its huge debt.

The third largest foreign holder is Britain, with 338.4 billion dollars.

Conservative's "spend and borrow" is catching up with us and putting China in a "do whatever we want" position when it comes to policies. Dump our currency? Invade Taiwan? Thanks Reagan, Bush 41 and Bush 43.

Source: RawStory