China is the largest foreign holder of U.S. government bonds. But, instead of buying more of those bonds as our skyrocketing national debt leads to more bonds being issued, China has been selling some of its U.S. government bonds this year.
The Chinese are no fools. They know that all this unbridled spending— even when it is called "investment"— means that inflation is coming. That in turn means that the dollars with which U.S. government bonds will be paid off wi ...
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