Foreign investors veto Fed rescue

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Asian, Mid East and European investors stood aside at last week's auction of 10-year US Treasury notes. "It was a disaster," said Ray Attrill from 4castweb. "We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed." The Fed caused this mess by setting the price of credit too low for too long, feeding the cancer of debt dependency.

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