US returns to well, finds it drying.

Here’s an interesting development, excellent only as a demonstration to those who still believe that fiat money and US monetary policy are acceptable. 

The world’s fifth-largest pension fund will no longer buy US Treasuries because yields are too low. The move signals what could be a big shift by financial institutions away from US government debt into higher-yielding assets.

Looks like the South Koreans crunched the numbers and found that our debt isn’t worth the paper its constantly printed on. Cat’s outta the bag now, folks. We’ll soon be suffering what our leaders deserve to get.

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