Originally Posted by
Asturias56
People still want to lend money to the USA - not such a long line for roubles IMHO...................
China has dumped $80 billion this year in US treasuries and made it clear it will continue if trade war continues. China no longer buying US Soya, it used to be $30 billion, now its zero and US Govt having to buy it with borrowed money.
Great people want to lend you money but they want a return and repayment. The ban on Russia borrowing money now looks the most stupid decision ever.
Russia suffered a sharp recession and banned imports from those acting against its interests. It spent money on building up its own Agri sector to replace imports, sold down US treasuries by $180 billion, moved away from US$ in trade, bought Gold so even figure posted earlier today was superceded, as they bought 9 tonnes in July.
If you have more money in reserves than debt, a huge trade surplus etc then banks will lend to you. It just will not be US / US / Nato member banks but bearing in mind the steal of Libyan reserves by those same people then why would you want to. Far Eastern banks are happy to lend.
The ponzi scheme of western banking looks more and more shaky, question is what will be the trigger point that brings it down.