News Bite 1
Even the most sophisticated investors put their faith in Bernard Madoff, the New York City financier recently accused of running a $50 billion Ponzi scheme. That breach of trust has damaged the broader markets, Professors Maurice E. Schweitzer and G. Richard Shell say.
News Bite 2
Obama signed off on the record breaking budget.
News Bite 3
Hillary Clinton visited Japan and China in her maiden trip overseas as the new Secretary of State.
Piecing all these events together, I would speculate as follows:-
The US budget deficit needs to be financed by some real US money as the printers are already working overtime trying to meet the delivery to 3 US car manufacturers after doing the AIA's order.
Where to find the real existing US dollars? Oh yes.. the Chinese and the Japanese have plenty of them. So Obama asked Hillary to go borrow some zillions from them in her maiden trip.
If the zillions don't turn up soon, the US government could be accused of doing the next Ponzi thingy with trillions of Treasury bills waiting for their promised interest and redemption?
Never say never. Well at this moment, the above is just Edgar's fertile imagination at work.
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