>Wouldn't it make sense for governments to use some of these funds to buy
>up physical assets in United States rather than to hold relatively low
>yielding financial instruments?
I think it was mentioned somewhere in that interview that the US government would regard it as an act of war if foreign governments used their US dollars to buy US assets. There is some limited ability for private interests outside the US to buy assets in the US, though Rupert Murdoch had to become a US citizen first as I recall.
Bill Bartlett Bracknell Tas