[lbo-talk] Bearzilla and Asiazilla Show How It's Done

dredmond at efn.org dredmond at efn.org
Fri Jan 29 16:10:27 PST 2010


On Fri, January 29, 2010 12:07 pm, John Gulick wrote:


> Are you trying to say that Paulson's memoirs are inaccurate, or that
> Bloomberg.com's interpretation of his memoirs are faulty? If so, I am
> curious what your alternative source of information is.

I'm saying Paulson is blowing geopolitical smoke -- he's transforming a perfectly rational decision by a creditor nation trying to protect its savings (Russia) into some diabolical plot against US power.

The evidence: Russia and China slowly and carefully pared back on Agencies and switched to T-bills, according to their finance ministries and to other flow-of-funds data (their forex reserves are so big, they couldn't hide the composition of their portfolios even if they wanted to).

-- DRR



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