Letters to the Editor
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As we approach the cliff,
I am struck by the irony that US foreign policy, especially under Bush,jnr, has been built on the two pillars of
1.massive deficit spending, more and more of it money borrowed from China and
2.war(s) in the middle east financed by that borrowing designed to secure access to middle eastern oil to ward off competition from other countries for that oil-- such as China.
If push comes to shove and the Chinese get tired of underwriting our destabilizing wars of aggression, what's to stop them from flooding the world money supply with US treasury notes they decide they no longer want?