January 20, 2009

South Korean Gov't Bigshot says "Dump U.S. money, bonds"

South Korea’s National Pension Service leader decides “It’s time to sell U.S. Treasuries.” Will dump dollar-based assets in national pension system.

This announcement was not unexpected by me or readers of this blog. Foreigners are now openly losing faith in U.S. creditworthiness and in our currency. It will get worse from here.