03/03/2010 12:09

USA - ASIA

This year, US public debt could reach end game

Maurizio d'Orlando

Federal Reserve Chairman Bernanke issues the warning. Asian nations, China and India first, are no longer willing to purchase securities issued by the US Treasury, which this year has about US$ two trillion short-term debt to refinance. Beijing is buying gold instead.

Milan (AsiaNews) – For at least four years, AsiaNews has sounded the alarm bells against the risks due to the huge size reached by speculative finance[1]. http://www.asianews.it/index.php?l=en&art=4039&size= In 2008, we said that the attempt to save US banks could push the US debt beyond the point of solvency (see Maurizio d’Orlando, “US debt approaches insolvency . . .,â€