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JSmith

Great! NK gets to kep its nukes (no, they are NOT giving those up!), we get to pull our troops out, and the South Koreans get to deal with Kim.

"maybe the 55 year nightmare life of that hold-over Stalinist state will finally come to an end."

And maybe it goes the other way: the nightmare Stalinist state gets the rest of the peninsula (which it would have done long ago, had the US not interfered where it had no business.)

Suusi M-B

Or maybe now Bush gets to free up a load more grunts for his killing fields of Iraq Oil adventure.

Liberal AND Proud

JSmith and Suuusi are right on both counts.

The Korean standoff served the military industrial complexes need for new weapons and mo money mo money mo money.

AND, tada, with the Korean conflict over...instant troops for the Middle East...oh and more weapons...mo money mo money mo money.

Elaine Meinel Supkis

NOW the US is saying it retracts everything. Must be they saw my cartoon...and I am not joking, the State Department reads this blog.

Dragon

CHINA COULD HAVE STARTED TO DUMP US TREASURIES

David Powell
Wednesday, September 05, 2007

China could have started to dump US Treasuries, says David Powell, currency analyst at IDEAglobal.

He says the latest report from the Federal Reserve shows central banks' holdings of US Treasuries fell by $7bn in the week to August 30, after a drop of $25.2bn in the previous week.

「While we cannot say with any degree of certainty which central bank is making a marked shift out of US Treasuries, the first suspect is China,」 he says.

「The country's new sovereign wealth fund . . . will officially start operations later this year, but has already been busy laying the groundwork.」

He says China's Ministry of Finance issued $79bn of bonds last week, its biggest bond sale, to begin funding the sovereign wealth fund.

「The finance ministry said the proceeds would be used to buy from the People's Bank of China some of its $1,330bn of FX reserves for the China Investment Corporation, which is expected ultimately to have assets of about $300bn.

「The Chinese government had also made some high-profile purchases earlier in the year such as the $3bn investment in Blackstone. This has all been in preparation for a move out of US Treasuries with the goal of producing higher returns.

「We won't know for sure who was behind the large shifts out of Treasuries until the August TICS data is released on November 16. To be forewarned is to be forearmed.」

JSmith

"NOW the US is saying it retracts everything. Must be they saw my cartoon...and I am not joking, the State Department reads this blog."

Well... you read everything except the US news, so what you have to go on is what the Chinese et al. say the US said. Perhaps the US didn't say anything at all like what was reported in the foreign press.

From the Guardian, quoyed above:

"The United States has agreed to lift sanctions against North Korea and remove it from its list of pariah states that sponsor terrorism, the foreign ministry in Pyongyang announced yesterday.
Washington declined to confirm the report."

The NKs wouldn't lie about something like that, would they?

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