"China Instructs Banks to Roll Over $1.7 Trillion in Debt to Avoid Mass Default" - Mish Shedlock
http://globaleconomicanalysis.blogspot.com.au/2012/02/china-instructs-banks-to-roll-over-17.html
More money printing to come in China to monetise much of this debt. Should be good for the price of gold.
loki
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