"A giant ponzi" scheme is former PBOC advisor Yu Yongding's description of the U.S. Treasury...

|By:, SA News Editor

"A giant ponzi" scheme is former PBOC advisor Yu Yongding's description of the U.S. Treasury market, who contends the Fed is the only thing standing between current bond prices and reality. Letting the yuan float would lessen the need for China to purchase U.S. debt, says Mr Yu.