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主题:【原创】新年政治经济展望之五:国债陷阱(一) -- 井底望天

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家园 No, Bank of China, he is

right.

If you deposit the money with JPMorgan NY, then the American bank will pay you 2% and then buy US treasury to enjoy 4%--you still do not achieve your purpose.

I guess you are not in the banking business, so you do not understand some of the operation. Most of Chinese bank's foreign reserve is deposited at their foreign branch--that's the way to earn return for your money. China's legal tender is RMB and there is limited demand for USD or Euro.

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