Frågan är ju trots allt om någon alls vågar köpa amerikanernas skuldpapper då läget är som det är nu?
Vill kineser och saudier placera sina handelsöverskottspengar i usla US-dollar vars värde med säkerhet kommer att sjunka ytterligare.
The bailout of the US financial system is entirely dependent on the willingness of the Chinese, Saudis, and other foreigners to use their trade surpluses with the US to purchase the US Treasury instruments that must be sold in order to raise the money for Bush’s bailout of the financial institutions.
The bailout of the US government’s budget has been going on for years, and it takes place every time the US Treasury holds an auction of new American debt. But now the bailout by foreigners of the US government is starting to turn into much larger sums that carry much higher risks.
Last week the Financial Times reported that Peer Steinbruck, the Finance Minister of Germany, said that the American financial crisis was “a fundamental rupture” and that “the US will lose its status as the superpower of the world financial system.”