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I'm not sure I see the problem. They let the biggest debt buyer cut out the middle man. I'm sure there was some backroom dealing going on there, but it seems
by cantankerous 14y ago
I'm not sure I see the problem. They let the biggest debt buyer cut out the middle man. I'm sure there was some backroom dealing going on there, but it seems like the biggest losers there are the middlemen who wound up getting cut out.
- antimora 14y agoThe middle man was getting a cut anyway. It was mainly to make China's purchases secrete. Primary dealers are not allowed to charge customers money to bid on their behalf at Treasury auctions, so China isn't saving money by cutting out commission fees.
- johnny22 14y agothey still aren't secret. stuff like this still shows up on treasury's stats.
- niels_olson 14y ago>make China's purchases secrete Sometimes the typos are more fun than the whole thread.
- cantankerous 14y agoIf they were going through (presumably) private middle men, then were their purchases = a matter of public record in the first place?
- rhizome 14y agoI'm not sure I can articulate it very well, but my general point regards the access given to core functionality in both military hardware and finance. This doesn't really comport with the US's relationship to China that is portrayed in the mainstream.