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A new paradigm for a post-imperial world

Posts Tagged ‘US debt default’

GEAB N°34 Summer 2009: The international monetary system’s breakdown is underway

Posted by seumasach on April 17, 2009


The next stage of the crisis will result from a Chinese dream. Indeed, what on earth can China be dreaming of, caught – if we listen to Washington – in the “dollar trap” of its 1,400-billion worth of USD-denominated debt (1)? If we believe US leaders and their scores of media experts, China is only dreaming of remaining a prisoner, and even of intensifying the severity of its prison conditions by buying always more US T-Bonds and Dollars (2). 

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