Editor's note: This piece was updated to include a chart by Institutional Investor's Sovereign Wealth Center.NEW YORK ( TheStreet) -- Dana Blankenhorn says without oil, we'd be Greece. I say, without artificially cheap Treasuries (that's cheap money for the U.S. Treasury, expensive for investors), we'd be Greece. Large "purchases" of U.S. Government Debt by the Federal Reserve system, at yields that are well below core inflation, induce other market participants to purchase, hold and trade Treasuries, when they should run away. This is all going to change, in my opinion. (My last article explains the vulnerability of the Fed in some detail.)
Without Manipulated Treasuries, We'd Be Greece: Opinion
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