Rousse those Wiki's are correct but they lack many details, the men who pull the strings count on the publics ignorance. Roughly 4 years ago I wanted to learn about investing so I started reading books and doing research to learn more, and I did but I also discovered some scary stuff I did not intend to learn. What I discovered was a huge crash was coming, and the savviest of the rich had positioned themselves for it and were counting on it. I learned the history of money and discovered how our real wealth was robbed from us. Along with a great many other things our government is doing, both parties, that is concerning.
America is still the easiest place to become wealthy so I'm not down on this country, if you learn the trends and learn to ride those waves then opportunity here id wonderful. So it's not all doom and gloom, it is angering though on the level that the average person is going to get screwed in this because they didn't devote their time to these things, they chose to be a teacher, an accountant, etc. and for that they are penalized and that makes me mad. I would rather be just a system engineer and not think about stuff like this, but circumstances won't allow that if I want to make sure I retire with some dignity.
Here is a short list of a few I've come across over the years, a mostly video bread crumb trail for any who want it, this will lead you to more. I'll say up front, I do not necessarily agree with every point in all of these, some truths though are obvious and easy to pick out. Overall though the message is the same. How can I say much of what I do with confidence? I had a few wake calls like at this convention put on by Robert Kiyosaki I attended in Los Angles in 2006, this video (which I didn't record) was made 2 years before the stock market crash.
This is what the FED doesn't want you know, BTW many of the views here come from the Austrian school of economics, I tend to agree with it. The one that people like Paul Krugman are embracing is from the Keynesian economics. I think the Keynesian's are in for a rude awakening.
Chris Martsenson's crash course on economics, probably the best 3 hours you can spend for the next 20 years of your life. It covers the 3 E's. Economy, Energy, and Environment
The history of the US dollar, how we got robbed, how this economic mess was destined to happen, and why change is unlikely with our current system -- Dr Lawrence Parks.
A lot of good video's on gold and silver, yes I do believe it's going to be a good store of wealth, the hero's of Diablo may have been on to something collecting all that gold.
I wish that were true Ranim but in my 43 years of crawling around on this planet I noticed arrogance and ignorance are never in short supply. When I was in high school as far back as 1982 the news was making issue of debasing of our currency, the growing national debt, social security, medicaid, and medicare, getting robbed with IOU's to pay for over spending and how it would come to bite us all in the ass in the long run. Experts were warning us that far back, in fact some were warning of the implications of leaving the gold standard in 1971 when Nixon detached us from gold. Go back and look at the US Monetary Base chart and others I linked here months ago. Notice the the trend has never really changed course with the passing of 8 US presidents.
This is the largest financial bubble in US history, we are sitting square in uncharted waters now. Blurred in these charts is the difference between price and value. The powers that be, have done their best to keep the people from feeling the pain of recession now at least three times, after the dot com's, 9/11, and again after this last epic crash. Crash's are called corrections because a crash is a cure to balance an imbalanced market, it is the medicine for the systemic a bubble. We should have sounding the alarm when everyone was singing "Blue skies are here again" on the trip up" Our government in their quest for reelection, always votes with what will keep their supporters happy and pain free. So they borrow and tell them I have saved the day, please vote me in again. No party, no politician has helped change our course in 40 years.
Deficit pending is like a drug, we feel good as long as we can get another hit of the borrowed cash. When we finally start to feel the pain of not being able to pay off our obligations because we can barely make the minimum interest payments alone, then no hit of cash will make the pain stop. We then will have to suffer the hard withdrawls of no more cash. This is going to happen sooner then later for several reasons, unemployment is at a high, and so tax dollars coming in are at a low, the FDIC officially went broke on the 25th of August, yesterday. So it will have to borrow money now to insure depositor losses of failed banks. We do not have product producing foundation, we are sitting on a service based industry so to recover will require we start making stuff again here in the US.
All those green-shoots we saw and companies posting profits we're the result of company layoff's, they saved money by cutting jobs and productivity so the books could look good. That won't last. The banks are showing profits as a result of borrowed money they were injected with, that won't last either. What will last is to start investing in or productive capacity, we need to start making things again. We need to stop borrowing money we can't pay back. We will default on this massive debt we have, China knows this and that is why they cut up the credit card last January.
Kiyosaki is one of the few to see this mess coming years ago, he wrote a book called Prophesy in 2002. He has been frightfully accurate in calling the trends.
Quote from "Rousse" »
I may be completely missing something, but to me it is plain inane to say: when the US treasury is laughably far in debt. Profited excessively? Maybe it is a mistake in article structure but as it stands that statement is just messed up.
The US treasury is not in debt, we the tax payers are, all of this came at our expense. I'm not sure how the treasury profited but I am sure how the FED did. It's an entity that is tax exempt, has never been audited, is privately held by some of the largest banks in the world such as JP Morgan Chase (it's largest holder). It makes money by the interest it charges for loaning money the banks.
That's right we tax payers pay interest on our very money, every dollar printed, sounds exciting doesn't it? To know our money has zero intrinsic value. I could type pages on the points in your post, but honestly I would be repeating all my previous posts, what he is saying really does make a lot of sense. I'll end with a question. What have they fixed that is going to ensure we don't see another crisis?
Be careful in believing in this recovery, there is a lot ommision being made by the news right now. I know I'm a plethora of doom and gloom but I really would rather have good news to talk about here. Robert Kiyosaki lays down nearly all the conditions that exist the news is not considering at the moment.
Preparing for the Worst
"Is the crisis over?" is a question I am often asked. "Is the economy coming back?"
My reply is, "I don't think so. I would prepare for the worst."
Like most people, I wish for a better future for all of us. Life is better when people are working, happy, and spending money.
The stock market has been going up since March 9, 2009. Talk of "green shoots" fill the air. Yet, in spite of the more positive news, I continue to recommend that people prepare for the worst. The following are some of my reasons: ... http://au.pfinance.yahoo.com/b/richricher/80/preparing-for-the-worst/
Peter Schiff is one of the few who gets up and states the truth regardless if people want to hear it or not.
...and there goes the greenshoots, buh bye
In a dramatic reversal to the moderating trend from the past several months, Mass Layoff Events surged from 256,357 in June to a whopping 336,654 in July, a 31% increase, and surprisingly the second highest reading for the year since January's 388 thousand. Actual MLE increased by 21% from 2,519 to 3,054. http://www.zerohedge.com/article/mass-layoff-events-spike
I wouldn't be so pessimistic if we just simply took the downturn medicine as we must, then we could actually see light at the end of the tunnel but nope, the politicians are hell bent on fighting taking that medicine in the name of getting elected.
Is there any difference between private sector and non-profit companies like Blue Shield?
I don't think so, BCBS is my provider, it's certainly no less expensive. The HRA plan we have which was sold as the best is nightmarishly expensive. My monthly payment is $200 more than my car payment.
I am proponent of choice myself, but as you can see I paid for a choice and I really $paid$ for that choice. We as American's have to come to grips with the cold truth, neither our public or private sector is working now. 40 million uninsured American's in this country is a travesty of failure in itself. Medicaid and medicare are bankrupt, another travesty. Health insurance going from a 100% free employer benefit to a monthly expense rivaling a car payment inside 20 years is damn angering. I say find a solution that works, really works and make it happen.
Ranim absolutely no argument from me on that post, without question there need to be stronger conservation guidelines. Corporations all too often seem to equate environmental responsibility with what is legally required of them. Until the law says so they pay no attention to it. With 7 billion living in a largely industrialized world we can't afford to be acting like we use to. It's angering to see companies who circumvent their obligations by doing their dirt in other countries where laws are not restrictive. McDonald's was one of the worst offenders producing for many years metric tons of polystyrene styrofoam and clear cutting the Amazon to the point where the damage was starkly visible in satellite images.
If I need a band-aid or an arm splint, I will get care.
I could probably afford to do that anyway.
If I need something that I can't afford, like treatment for a heart ailment or something, I will not get the care anyway under government. I am paying for something I wouldn't receive.
And I can't get out.
OK, but I had to pay 100% of the first $5,000 of my wife's medical expenses, no coverage. I then paid an additional $8400 for the chance I might or might not get covered for procedures by my insurance company. On top of that I paid $1,000 for medication they don't cover at all. In all I paid $13,400 for really nothing. Right now a $5,000 tax hike in place of what i just went through seems pretty good to me. But then i have a problem with that too because medicaid and medicare are unsustainable and insolvent, their is no money left in either of these programs. My point is both sides of this private/public argument are full of shit because neither are working well.
One thing you can't let out of your sight, is that Laissez Faire capitalism is nearly on par with pure socialism with liability for abuse. Where socialistic programs are abused by 'the common man', large businesses are the abusers of capitalism. Some things just need a little bit of government oversight to keep the abuses from happening. In my opinion it is much easier to police a capitalist system, but you also run into the issue of corruption, where businesses have enough capital to "buy off" oversight and commit abuses. However, as you mentioned, there is also a tight line between oversight, and controlling for personal gain.
My favorite example, is the Airline Industry. Everyone knows it is pretty heavily regulated, and for the most part, reasonably safe. What if it was completely laissez faire, governed only by the competition of the business? My money is that we would see many instances of "Ford Pinto Airplanes" with human life sacrificed for bottom lines.
On the insurance issue, competition - the heart of the idea for capitalism - may actually be detrimental to insurance companies. Insurance is a business model based off of probability, they have an average payout figgure that is likely measured over the term of the policy, and what you pay into your insurance plan has to beat that average. If this were not the case, and the average customer payed less than what they receive, the insurance company would collapse or need bankrolling from an external source. Why competition may be bad, is that if there are too many companies the populace gets split into smaller subsets and each subset has a fixed overhead cost, and smaller sample sizes have a greater risk of abnormal performance. Meaning that smaller insurance companies have a greater risk of getting a lot of high cost claims at once, and going under. This would lead to a natural increase in rates, or high fairlure rate of insurance companies.
Now i'm not sure how many health insurance companies there are in America, or if any of their sample sizes are approaching what could be called dangerously low levels. But I do know that a single insurance company or government agency is going to have a much lower overhead cost than many small companies and is going to have a much more stable capital in/out function, leading to some combination of lower costs to all, increased coverage for poor, or both. I just don't think our government has the power to do this, so it is sort of an idle dream
I also have a problem with health insurance as a for-profit business. They do absolutely nothing to increase the quality of care received, but increase the cost. They exist solely as a middle man, who distributes the cost of care over a policy's lifetime. I understand that this business model is employed successfully in many different areas, but I just get touchy when it is used on Healthcare. I think that quality Healthcare should be made as affordable as possible to as many people as possible, and taking out the middle man is one way to begin lowering the costs. There are of course innumerable other things that can be done to lower the costs, and insurance changes are just one among many.
I like what Milton Freedman said on greed, capitalism, and socialism
On the insurance issue, since I had to pay the first $5,000, I'm guessing the average is $5,000 per person which means my insurance company effectively on average pays nothing.
I'm Canadian and I have government sponsored healthcare. I pay, at least, $5,000 a year in my taxes for a system I don't use. I'd rather use the money otherwise, but I pay and pay and I can't get out. At least with private insurance, if I didn't like it, I could get out. If I withheld what I pay in my taxes for a system I don't use, I'd go to jail.
Government healthcare systems are really great at dealing with stuff that you can deal with at home, like band-aids. However, if you need acute care, like a heart attack, or life-maintanance care, like HIV, you are hooped. So don't expect any changes here on your part.
If you're paying out of pocket with a private system, you're going to pay out of pocket, assuming you'll even be allowed to seek alternative treatments, for the government option.
Once government unions get involved, good luck. It'll be like the education system where Americans pay more per student than many countries combined, for a system that has Americans ranking about 25th in the world.
I think the question needs to be asked, is who are the 40 million who don't have healthcare in the states?
You'll find the majority are either young men, who wouldn't pay if it meant giving up some coin for some beer or paint-ball expedition or they are illegal immigrants who shouldn't expect to get covered for a system they don't contribute to.
Sounds like you paid $3,400 less than I did for nothing, of course I can back out of my plan and pay nothing, but if I then have an accident and need emergency care, I will be stuck with 100% of the care and likely refused care if it is too much. Where at least you will probably get the care you need under that situation. But again medicaid and medicare are deeply in debt so that option won't be lasting much longer here either. I'm not seeing any good options at this point, like i said I'm not for or against public health care, both systems are in severe trouble.
I hope it all gets a lot worse. a few centuries down the road we'll be better off possibly. Either way we have to say fuck off to capitalism. We simply can't continue on with it. Scientists say we've got roughly 70 years before the planets resources are basically mined.
We don't have true capitalism today, we have cronyism, our government has been turning into an oligarchy for the last 30 years. Powerful people have stacked the deck in their favor and when they get exposed, honest capitalism gets the blame.
The difference is that with insurance companies, you can choose to pay more for better services. With public healthcare, even you are willing to pay alternatively, the government can say no. Surveys show that about 85% of Americans were happy with their healthcare, so it couldn't have sucked that much.
I know this is a bit wordy but please read this and you will see the conundrum of the debate. First I'll say I take no hard position with public or private, I work in the industry and our company has government contracts with Medicaid and Medicare which are both public programs, and both are incidentally running on IOU fumes today. We also have commercial accounts with several of the major private insurance companies
There are severe problems on both fronts, current public healthcare is broke and in debt as I just pointed out, and private is insanely expensive. I'm not sure what source came up with the survey saying 85% of the people are happy with their private healthcare study. I think the study is disingenuous and limited in scope, the debate in the media is a joke focusing on people having fits at town hall meetings and the substance of the issues has taken a back seat.
Over 40 million people are currently uninsured because they can't afford private healthcare (they have no choice), so private healthcare is failing as badly as Medicaid and Medicare. Personally I have private health care and while I am somewhat happy with the services my wife received (I haven't needed it) I am not happy at all with it's cost or my plan, in fact as you will see I have had no good choice at all.
I've been in the work force for about 30 years and have watched my free healthcare provided 100% for me by my employer turn into a small $10.00 a month fee for myself and my family (this is the way it use to be for many), which has now ballooned into $700 a month for my family. The latest plan which incidentally is with one of our commercial customers is one of the worst plans I have had the option of paying for. I now have an HRA plan (Bush's privatization plan) which was sold as the best plan, I pay the first $5,000 upfront and then the insurance company will start to pay after that, which I am paying $700 a month for this plan.
My wife needed to use it up front and so I am paying 100% of her medical bills now, her services just barely exceeded $5,000 (for just tests), and she was told she needed a $20,000 highly intrusive surgery, which of course must be first approved by the private healthcare death squads. She has opted to try a homeopathic treatment first because the surgery is brutal and will not prevent the condition from recurring, our insurance doesn't cover that. So here is the end result, I am paying 100% of her medical bills, plus I am paying $700 a month to a plan that gave me almost nothing, and I am paying 100% of her homeopathic medicine which so far in the last 6 months has been about $1000 out of pocket.
Result:
I got screwed on my private healthcare plan's monthly fee which is $8,400 from my annual salary for nearly zero coverage.
I got screwed on what my plan will cover in alternative treatments, and I'm left paying for everything which to date is about $6500.00 out of pocket.
Total amount I am paying out of pocket $14,900
Total amount my insurance company paid $500
Total amount my insurance company is making from me after paying out my $500 expense $7,900
But remember 85% of those surveyed are happy with their private health care plan because they have a choice.
Equinox, I agree it's not an excuse but regardless the US is insolvent and every effort we try to make it appear we are not only puts us deeper into debt. Yes it's a simplistic statement but but my previous posts here have qualified it. Mike Maloney, an adviser of precious metals to Robert Kyosaki does a good job of explaining our predicament like few can.
Let me up front state Mike a proponent of gold and silver and sells it online, I believe both are going to be the best place to store ones wealth for the long term 5 to 10 years. I'm not advocating others take this view, I'm adding this video because Mike shows exactly what the government is doing to debase our currency, it's important people understand this because we are in real trouble now. The video starts off with one of his partners doing a lead in question so you get the impression of a infomercial but his answer is anything but a shallow response. Worth the 6 minutes watch, hopefully you understand my persistence on this thread.
.
I'm all for better health care, the only thing that concerns me is no one can answer the single most important question; with what money? I have asked that on multiple political posting boards for the last 2 years and not gotten a single good answer. China cut up our credit card last January, not a lot of people realize that, it's a huge ticking time bomb, in fact the largest bubble in history is our US debt held by the world. China now holds the largest financial bomb in modern history and it is trying to get rid of all those sterilized dollars it before the fuse runs out, to that I say "uhhhh good luck with that." I've posted a few stories like this but the message is clear, in just today from China, funny how the UK's BBC reports this, but look to US mainstream media for it, it's like a needle in haystack.
China reduces holdings in US debt
China reduced its holdings of US government debt by the largest margin in nearly nine years in June, according to data from the US Treasury. http://news.bbc.co.uk/2/hi/business/8207174.stm
Rollback Post to RevisionRollBack
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http://mises.org/images/SeanMaloneRiseFallDollarLarge.jpg
America is still the easiest place to become wealthy so I'm not down on this country, if you learn the trends and learn to ride those waves then opportunity here id wonderful. So it's not all doom and gloom, it is angering though on the level that the average person is going to get screwed in this because they didn't devote their time to these things, they chose to be a teacher, an accountant, etc. and for that they are penalized and that makes me mad. I would rather be just a system engineer and not think about stuff like this, but circumstances won't allow that if I want to make sure I retire with some dignity.
Here is a short list of a few I've come across over the years, a mostly video bread crumb trail for any who want it, this will lead you to more. I'll say up front, I do not necessarily agree with every point in all of these, some truths though are obvious and easy to pick out. Overall though the message is the same. How can I say much of what I do with confidence? I had a few wake calls like at this convention put on by Robert Kiyosaki I attended in Los Angles in 2006, this video (which I didn't record) was made 2 years before the stock market crash.Where are we at in this crash? These charts are a good indicatorThis is what the FED doesn't want you know, BTW many of the views here come from the Austrian school of economics, I tend to agree with it. The one that people like Paul Krugman are embracing is from the Keynesian economics. I think the Keynesian's are in for a rude awakening.Chris Martsenson's crash course on economics, probably the best 3 hours you can spend for the next 20 years of your life. It covers the 3 E's. Economy, Energy, and EnvironmentThe Federal Reserve - Zeitgeist, The Movie (2 Hrs)How long ago did we know a crash was coming? We had a clue since the early 1930's thanks to Nikolai KondratieffThe history of the US dollar, how we got robbed, how this economic mess was destined to happen, and why change is unlikely with our current system -- Dr Lawrence Parks.A lot of good video's on gold and silver, yes I do believe it's going to be a good store of wealth, the hero's of Diablo may have been on to something collecting all that gold.A Resource Based Economy - Zeitgeist Addendum (2 Hrs) Possible Solution
http://www.diablofans.com/forums/showpost.php?p=428610&postcount=392
This is the largest financial bubble in US history, we are sitting square in uncharted waters now. Blurred in these charts is the difference between price and value. The powers that be, have done their best to keep the people from feeling the pain of recession now at least three times, after the dot com's, 9/11, and again after this last epic crash. Crash's are called corrections because a crash is a cure to balance an imbalanced market, it is the medicine for the systemic a bubble. We should have sounding the alarm when everyone was singing "Blue skies are here again" on the trip up" Our government in their quest for reelection, always votes with what will keep their supporters happy and pain free. So they borrow and tell them I have saved the day, please vote me in again. No party, no politician has helped change our course in 40 years.
Deficit pending is like a drug, we feel good as long as we can get another hit of the borrowed cash. When we finally start to feel the pain of not being able to pay off our obligations because we can barely make the minimum interest payments alone, then no hit of cash will make the pain stop. We then will have to suffer the hard withdrawls of no more cash. This is going to happen sooner then later for several reasons, unemployment is at a high, and so tax dollars coming in are at a low, the FDIC officially went broke on the 25th of August, yesterday. So it will have to borrow money now to insure depositor losses of failed banks. We do not have product producing foundation, we are sitting on a service based industry so to recover will require we start making stuff again here in the US.
All those green-shoots we saw and companies posting profits we're the result of company layoff's, they saved money by cutting jobs and productivity so the books could look good. That won't last. The banks are showing profits as a result of borrowed money they were injected with, that won't last either. What will last is to start investing in or productive capacity, we need to start making things again. We need to stop borrowing money we can't pay back. We will default on this massive debt we have, China knows this and that is why they cut up the credit card last January.
The US treasury is not in debt, we the tax payers are, all of this came at our expense. I'm not sure how the treasury profited but I am sure how the FED did. It's an entity that is tax exempt, has never been audited, is privately held by some of the largest banks in the world such as JP Morgan Chase (it's largest holder). It makes money by the interest it charges for loaning money the banks.
That's right we tax payers pay interest on our very money, every dollar printed, sounds exciting doesn't it? To know our money has zero intrinsic value. I could type pages on the points in your post, but honestly I would be repeating all my previous posts, what he is saying really does make a lot of sense. I'll end with a question. What have they fixed that is going to ensure we don't see another crisis?
Preparing for the Worst
"Is the crisis over?" is a question I am often asked. "Is the economy coming back?"
My reply is, "I don't think so. I would prepare for the worst."
Like most people, I wish for a better future for all of us. Life is better when people are working, happy, and spending money.
The stock market has been going up since March 9, 2009. Talk of "green shoots" fill the air. Yet, in spite of the more positive news, I continue to recommend that people prepare for the worst. The following are some of my reasons: ...
http://au.pfinance.yahoo.com/b/richricher/80/preparing-for-the-worst/
...and there goes the greenshoots, buh bye
In a dramatic reversal to the moderating trend from the past several months, Mass Layoff Events surged from 256,357 in June to a whopping 336,654 in July, a 31% increase, and surprisingly the second highest reading for the year since January's 388 thousand. Actual MLE increased by 21% from 2,519 to 3,054.
http://www.zerohedge.com/article/mass-layoff-events-spike
I wouldn't be so pessimistic if we just simply took the downturn medicine as we must, then we could actually see light at the end of the tunnel but nope, the politicians are hell bent on fighting taking that medicine in the name of getting elected.
I don't think so, BCBS is my provider, it's certainly no less expensive. The HRA plan we have which was sold as the best is nightmarishly expensive. My monthly payment is $200 more than my car payment.
OK, but I had to pay 100% of the first $5,000 of my wife's medical expenses, no coverage. I then paid an additional $8400 for the chance I might or might not get covered for procedures by my insurance company. On top of that I paid $1,000 for medication they don't cover at all. In all I paid $13,400 for really nothing. Right now a $5,000 tax hike in place of what i just went through seems pretty good to me. But then i have a problem with that too because medicaid and medicare are unsustainable and insolvent, their is no money left in either of these programs. My point is both sides of this private/public argument are full of shit because neither are working well.
I like what Milton Freedman said on greed, capitalism, and socialism
On the insurance issue, since I had to pay the first $5,000, I'm guessing the average is $5,000 per person which means my insurance company effectively on average pays nothing.
Sounds like you paid $3,400 less than I did for nothing, of course I can back out of my plan and pay nothing, but if I then have an accident and need emergency care, I will be stuck with 100% of the care and likely refused care if it is too much. Where at least you will probably get the care you need under that situation. But again medicaid and medicare are deeply in debt so that option won't be lasting much longer here either. I'm not seeing any good options at this point, like i said I'm not for or against public health care, both systems are in severe trouble.
We don't have true capitalism today, we have cronyism, our government has been turning into an oligarchy for the last 30 years. Powerful people have stacked the deck in their favor and when they get exposed, honest capitalism gets the blame.
I know this is a bit wordy but please read this and you will see the conundrum of the debate. First I'll say I take no hard position with public or private, I work in the industry and our company has government contracts with Medicaid and Medicare which are both public programs, and both are incidentally running on IOU fumes today. We also have commercial accounts with several of the major private insurance companiesBut remember 85% of those surveyed are happy with their private health care plan because they have a choice.
Let me up front state Mike a proponent of gold and silver and sells it online, I believe both are going to be the best place to store ones wealth for the long term 5 to 10 years. I'm not advocating others take this view, I'm adding this video because Mike shows exactly what the government is doing to debase our currency, it's important people understand this because we are in real trouble now. The video starts off with one of his partners doing a lead in question so you get the impression of a infomercial but his answer is anything but a shallow response. Worth the 6 minutes watch, hopefully you understand my persistence on this thread.
.
I'm all for better health care, the only thing that concerns me is no one can answer the single most important question; with what money? I have asked that on multiple political posting boards for the last 2 years and not gotten a single good answer. China cut up our credit card last January, not a lot of people realize that, it's a huge ticking time bomb, in fact the largest bubble in history is our US debt held by the world. China now holds the largest financial bomb in modern history and it is trying to get rid of all those sterilized dollars it before the fuse runs out, to that I say "uhhhh good luck with that." I've posted a few stories like this but the message is clear, in just today from China, funny how the UK's BBC reports this, but look to US mainstream media for it, it's like a needle in haystack.
China reduces holdings in US debt
China reduced its holdings of US government debt by the largest margin in nearly nine years in June, according to data from the US Treasury.
http://news.bbc.co.uk/2/hi/business/8207174.stm