Thursday, August 4, 2011

Debt Deal: What the World Thinks of Us Now

Posted by Roya Wolverson
"Take China. Following the debt deal, its central bank chief announced that China would continue moving its foreign exchange reserves out of U.S. dollars, and a small Chinese credit rating agency downgraded U.S. sovereign debt."

 "South Korea, the seventh largest holder of U.S. Treasury bonds, responded to the debt deal by announcing it had tripled its holdings of gold over the past two months, traditionally considered a hedge against a declining U.S. dollar. "

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