By Robert Singer
August 21, theatres around the nation screened the documentary I.O.U.S.A. and a live discussion with America’s most notable financial leaders and policy experts, including Warren Buffett; William Niskanen, chairman of the Cato Institute; Pete Peterson, senior chairman of The Blackstone Group and former U.S. Comptroller General, Dave Walker.
August 25, Mr. William Niskanen, CEO of the Cato Institute, confirmed his remarks on the I.O.U.S.A. post-broadcast panel discussion.
Dear Mr. Singer,
I do not have a tape of my remarks last Thursday evening. As I remember, however, I expressed being puzzled why the central banks of China, Japan, and South Korea have continued to invest so much in U.S. Treasury securities. For these central banks have earned a negative real return on these securities, for which the interest rate has been lower than the depreciation of the dollar.
I would value your judgment about this puzzle… William A. Niskanen
China is a “Hot Topic” at the nationally and internationally recognized Center for Trade Policy at Mr.… Read the rest