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April 24, 2005

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Axel Kassel

The bonds are already issued, so I don't care if the Chinese sell them to a Belgian sugar-beet cartel, the MG-Rover pension fund, or to anyone else. In fact, it would be jolly if the the Chinese conspired with other foreign-state holders to dump their US Treasury bonds simultaneously. The price would collapse, the Treasury could buy them back for a song, and erase a huge debt-service burden from the federal budget. Of course, you'd need to hand out vast quantities of Quaaludes for a few days...

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