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There is a demand for capital on global basis. china has it. asia has it. we don't. if countries need capital like greece or portugal or spain or the u.s., we have 200 debt options per yeyear. we have to compete for capital. rates can't say where they are now. we could see a ratcheting up of interest rate as, which will, could implode the bond market. the debt market this may mean ultimately where it wind up. if you can't pay the debt off. what do you inevitably have to do? you got to write it off. >> that won't happen. >> then you get spontaneous writedown of global debt under crisis.

There is a demand for capital on global basis. china has it. asia has it. we don't. if countries need capital like greece or portugal or spain or the u.s., we have 200 debt options per yeyear. we have to compete for capital. rates can't say where they are now. we could see a ratcheting up of interest rate as, which will, could implode the bond market. the debt market this may mean ultimately where it wind up. if you can't pay the debt off. what do you inevitably have to do? you got to write it off. >> that won't happen. >> then you get spontaneous writedown of global debt under crisis.

On global basis. china has it. asia has it. we don't. if countries need capital like greece or portugal or spain or the u.s., we have 200 debt options per yeyear. we have to compete for capital. rates can't say where they are now. we could see a ratcheting up of interest rate as, which will, could implode the bond market. the debt market this may mean ultimately where it wind up. if you can't pay the debt off. what do you inevitably have to do? you got to write it off. >> that won't happen. >> then you get spontaneous writedown of global debt under crisis.

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.