Albert Meyer

China and Brazil to Ditch U.S. Dollar? Hardly

Today's Financial Times (News Briefings), on the front page, reports on China's $10 billion loan to Petrobas, in exchange for guaranteed oil supplies. The next items tells of the neocons in Washington dumping another $110 million into a black hole called the Swat Valley in Pakistan. While China uses its own capital to take care of its commercial interests and to strengthen its foreign trade relations, the US continues to pile up the national debt to prop up its foreign empire that isn't worth squat.

On another point, Marc Chandler's letters to the Financial Times are required reading for their insight. Keep them coming, Mr. Chandler.