Has anyone heard of this? It is actually a description of how the US fiat monetary system works. I believe there are a lot of misconceptions out there, and they are reinforced by the media, politicians, and economists.
From my blog:
http://fiatcollapse.blogspot.com/2010/12/modern-monetary-theory-or-how-us.html
Basically, these are the facts:
China does not fund the US deficit.