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Saturday, June 11, 2011

China ratings house says US already defaulting

By allowing the dollar to devaluate.

via Mark Steyn at The Corner, who says, "Geithner and Bernanke can protest all they want that debauching the currency and the left hand buying the right hand’s debt and quantitively easing yourself all day long like Congressman Weiner is so totally not like defaulting. But, if the dwindling ranks of buyers of Treasury debt around the world come to see it like that, that’s what counts."

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