In this article, CEIBS Professor of Economics and Finance Xu Xiaonian told a conference yesterday that “The fundamental source of Wall Street’s meltdown is caused by Federal Reserve overissuing currency.”
The article continues: "We know we are in trouble when the Chinese Communist Party sound like bastions of sound money policy and fiscal conservatism in comparison to the Bush administration and the Federal Reserve, who in creating more money out of thin air continue to bail out their friends on Wall Street while the economic future of hundreds of millions of American citizens is sold down the river."
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