Thursday, September 25, 2008

My Big Worry

Of all my worries for America's future, and I have alot, creditors pulling back is my biggest. I have brought it up before but I will bring it up again, to get a good foundation of how currency markets work and an understanding of Bretton Woods 1 and 2 Changing Fortunes by Paul Volcker is one of my favorite books. This is the dynamite that will blow up our economy. Thanks goes to Kirby for bringing this to my attention.{389CCD2E-9D08-4A8B-A512-F1B3E0B0BE19}&dist=hplatest#comments

Chinese regulators have asked domestic banks to stop lending to U.S. financial institutions in the interbank money markets to prevent possible losses during the financial crisis, the South China Morning Post reported Thursday. The China Banking Regulatory Commission's ban on interbank lending of all currencies applied to U.S. banks, but not to lenders from other countries, the report added, citing a source.

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