Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login
Arrow Left Previous Page
Page / 2
Posted: 1/25/2011 11:20:04 PM EST
[Last Edit: 1/26/2011 3:28:07 AM EST by Kotter26]
Yes, believe it. The U.S. debt is over $14 trillion, and is the sum of all outstanding debt owed by the Federal Government. Nearly two-thirds is the public debt, which is owed to the people, businesses and foreign governments who bought Treasury bills, notes, and bonds (http://useconomy.about.com/od/fiscalpolicy/p/US_Debt.htm). A country's external debt is part of the total debt of a country that is owed to foreign creditors. These creditors may include other banks, governments, corporations, and private individuals. For the purposes of this post, I will use China as my example since it is the largest external debt holder.

Some may argue that this debt is backed by the full faith and credit of the United States government. What does this mean? It means, in very insidious terms, the ability of the United States Government to infinitely tax the hell out of American citizens to pay back debts. But, if the system fails (i.e., government default, bankruptcy of the country, and other similar SHTF events) and that taxpayer base no longer exists, that debt still needs to be satisfied; as of October 2010, the major foreign holder of treasury securities is China with 906.8 billion dollars. Second is Japan with 877.4 billion dollars, and third is UK with 477.6 billion. It is noteworthy to mention that oil exporters are fourth with 213.9 billion dollars (http://www.guardian.co.uk/news/datablog/2011/jan/18/us-federal-deficit-china-america-debt).

While a little over 900 billion dollars is only a fraction of our debt, it is still significant, especially since we continue to borrow more and more from China. In 2009, Speaking at his annual press conference at the close of China's parliament, Chinese premier Wen Jiabao said: "We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried."
He called on Washington "to honor its words, stay a credible nation and ensure the safety of Chinese assets" (http://www.guardian.co.uk/world/2009/mar/13/china-us-economy).

Let me explain what the premier of China means.
In the United States, external federal debt has been collateralized with our national lands, though the vast majority of the population is unaware of this (
http://ireport.cnn.com/docs/DOC-197641). Yes, I know that this article is from 2008, but stay with me. It all started in the Johnson administration when we allowed foreign investors to buy part of our debt. During these years, beginning in 1964, more and more of our land was set aside in various categories, such as wilderness and endangered species. Since all original wealth is derived from the land, what it boils down to is that the natural resources of this nation are being used as a collateral base for our national debt (http://www.cblpi.org/resources/speech.cfm?ID=28).

In an article by former Congresswoman Helen Chenoweth-Hage, she elaborates on the United Nations involvement in the land grab:

One insidious program that has been eating away at our private property, as well as at our sovereignty as a nation, has come from the United Nations. It is called the "American Heritage Sites" and the "Man and Biosphere Reserves Sites." As a freshman in Congress, I went one day to visit Independence Hall in Philadelphia in order to see the Liberty Bell. I discovered that the Liberty Bell is now incased in a building that was built by the National Park Service. As I stood in line waiting to go in, I noticed two plaques in the brick walkways, one of which commemorated the site where John Kennedy stood when he gave a speech for a certain occasion, a great tribute to a great patriot. I then went over to the second plaque, which commemorated the dedication of this site to the United Nations Educational, Scientific and Cultural Organization, UNESCO. I was stunned––Independence Hall was under the jurisdiction of UNESCO!

Realizing UNESCO uses one of two designations when targeting a site for its control–– (1) Rural Heritage Sites, and (2) Biosphere Reserves––my staff and I did some research. We discovered that exactly forty-seven sites in America have been designated under the Man and Biosphere Reserve, and twenty sites have been designated as Rural Heritage sites––all under the jurisdiction of UNESCO. Among the sites designated as Biosphere Reserves are the Coast Ranges in California, Cascade Head in Oregon, the Central Gulf Coastal Plain in Florida, the Central Plains in Colorado, the Adirondacks in New York and Vermont, the Everglades in Florida, the New Jersey Pine lands, the Rocky Mountains in Colorado, the Three Sisters in Oregon, and Yellowstone National Park in Wyoming and Montana––and those are just a few examples of the stretch of the Biosphere Reserves. Among the twenty World Heritage Sites are the Carlsbad Caverns National Park, the Grand Canyon National Park, the great Smokey Mountains in Tennessee and North Carolina, the Hawaiian Volcanoes National Park, Independence Hall in Pennsylvania, the Liberty Bell, the Olympic National Park, the Statue of Liberty in New York, Yellowstone National Park, and Yosemite National Park––that is, our national heritage and national treasures. After some studies, we found that all the land that has been taken––land given away by the government and currently under UN jurisdiction––would fill up the entire state of Colorado. Hundreds of thousands of American lives have been laid down, have been sacrificed to protect the sovereignty and land of our nation, and then our government just turns around and gives our land away; its jurisdiction has been handed over to others. This was too much (http://www.cblpi.org/resources/speech.cfm?ID=28).


What happens when The United States government refuses to pay up? Do you really think that we can continue borrowing based on full faith and credit? I cannot imagine China would buy more paper without some sort of collateral. As much as I dislike him, Glenn Beck had an interesting take on this issue at http://www.foxnews.com/on-air/glenn-beck/transcript/americas-banker-how-will-china-treat-deadbeat-borrowers

Look at some other countries that have defaulted or went bankrupt. Ireland
http://www.sovereignindependent.com/?p=8324, Iceland http://www.scoop.co.nz/stories/HL0904/S00068.htm, and Greece http://www.thedailybell.com/1162/Greece-Sells-Islands.html

These types of events can happen to the United States if we go bankrupt. Don’t think for a moment that the IMF, World Bank, and a consortium of other nations couldn’t get together and pull the same shit on America. There has never been a country in history that was too big to fail. While I don’t know the eventual outcomes, I can predict possible outcomes based on what information I have. The only way for the United States to financially save itself is to stop spending what we don’t have. For those reading, as much as you might want to dismiss this as a case of overly wrapped tinfoil, ask yourself this question: Do you believe that the United States government truthfully cares about the rights and freedoms of all American citizens? If you do, I’m sorry you wasted your time reading this article.



Link Posted: 1/25/2011 11:37:36 PM EST
[Last Edit: 1/26/2011 1:57:50 AM EST by SIRIUS1]
I don't see the National Lead Reserves on the U.N.'s list.
Link Posted: 1/25/2011 11:37:51 PM EST
We can default on our debt. Just like the PIIGS could. It would just start a war.
Link Posted: 1/25/2011 11:48:03 PM EST
I would think if you buy into that mess, you'd be more afraid of the martians coming and taking it.

Link Posted: 1/26/2011 12:03:29 AM EST
I was going to post a clever animation or picture with a caption that displayed my sentiments in a condensed, but informative manner, however, poop threads are a no-go.
Link Posted: 1/26/2011 12:06:02 AM EST
You changed fonts repeatedly. Your argument is invalid.
Link Posted: 1/26/2011 12:07:11 AM EST

Originally Posted By LW303:
I would think if you buy into that mess, you'd be more afraid of the martians coming and taking it.



Sure, and we could probably just have a bake sale to make up that 900 billion right? <o:p></o:p>

Link Posted: 1/26/2011 12:09:02 AM EST




This is a goa uld. It is a terrifying alien from outer space. It can kill you with its stick, or else put an alien inside your head to control you. I can understand how frightening this revelation must be. If you give me five thousand dollars I can guarantee I will keep these snake aliens away from you for ten years.

Link Posted: 1/26/2011 12:17:00 AM EST

Originally Posted By CSM:
We can default on our debt. Just like the PIIGS could. It would just start a war.


Of course we can default, but I also think we made some backroom deals to provide peace of mind to our lenders.
Link Posted: 1/26/2011 12:18:34 AM EST

Originally Posted By Kotter26:

Originally Posted By CSM:
We can default on our debt. Just like the PIIGS could. It would just start a war.


Of course we can default, but I also think we made some backroom deals to provide peace of mind to our lenders.

Then you need to do some more thinking, don't you?
Link Posted: 1/26/2011 12:25:56 AM EST

Originally Posted By LW303:
http://www.lightspeedfineart.com/Databases/Images/LSG545-07-001.jpg



This is a goa uld. It is a terrifying alien from outer space. It can kill you with its stick, or else put an alien inside your head to control you. I can understand how frightening this revelation must be. If you give me five thousand dollars I can guarantee I will keep these snake aliens away from you for ten years.



Yes, but can you get me an extension?
Link Posted: 1/26/2011 12:27:19 AM EST

Originally Posted By LW303:
http://www.lightspeedfineart.com/Databases/Images/LSG545-07-001.jpg



This is a goa uld. It is a terrifying alien from outer space. It can kill you with its stick, or else put an alien inside your head to control you. I can understand how frightening this revelation must be. If you give me five thousand dollars I can guarantee I will keep these snake aliens away from you for ten years.



Oh no, another exploited taxpayer...
Link Posted: 1/26/2011 12:40:28 AM EST
Link Posted: 1/26/2011 2:30:36 AM EST
Recognising world heritage sites and actually owning and controlling them are two seperate things
Link Posted: 1/26/2011 2:50:54 AM EST

Originally Posted By LoneCoyoteHunter:
Recognising world heritage sites and actually owning and controlling them are two seperate things


When the U.S. Dollar is devalued to the level of toilet paper, please try explaining your logic to our elected politicians. Let me know how receptive they are to your ideas
Link Posted: 1/26/2011 3:37:32 AM EST
There is also a rumor that Hillary Clinton (per Obama) made an arrangement with the Chinese Premier last time she was in China regarding eminent domain.

Link Posted: 1/26/2011 3:46:10 AM EST
Link Posted: 1/26/2011 3:49:44 AM EST
Originally Posted By TimJ:
If you don't seriously consider the government doing that within the realm of possibilities, I can only shake my head. The fucking asshole politicians would sell us down the river if it meant they stayed in power and maintained their status quo.....


Yep.
Link Posted: 1/26/2011 3:53:44 AM EST

Originally Posted By TimJ:
If you don't seriously consider the government doing that within the realm of possibilities, I can only shake my head. The fucking asshole politicians would sell us down the river if it meant they stayed in power and maintained their status quo.....


Exactly. Never underestimate what power and money can do to someone.
Link Posted: 1/26/2011 3:59:08 AM EST
Duh. In other words we are slaves, owned by a faceless upper, upper, upper class.
Link Posted: 1/26/2011 4:06:48 AM EST
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.
Link Posted: 1/26/2011 4:24:41 AM EST

Originally Posted By 4v50:
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.

Yup, we could pay china off in ten minutes if we wanted, but the thought of the repo man coming and taking Yellowstone is so much more logical
Link Posted: 1/26/2011 4:31:26 AM EST
In 1990 I had a female history teacher that was, well hard to describe.

She had a great dislike for the Japanese. At that time it was the Japanese, not the Chinese, who were buying up American assets. She kept saying we should make them pay with gold and then kick them out of the country and take our assets back.
Link Posted: 1/26/2011 12:03:15 PM EST

Originally Posted By Normal_Guy:
Duh. In other words we are slaves, owned by a faceless upper, upper, upper class.

The snake mask can actually sort of retract, they actually have faces very much like our own.


Link Posted: 1/27/2011 6:33:09 AM EST

Originally Posted By BobRoberts:

Originally Posted By 4v50:
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.

Yup, we could pay china off in ten minutes if we wanted, but the thought of the repo man coming and taking Yellowstone is so much more logical


Link Posted: 1/27/2011 6:59:53 AM EST

Originally Posted By LW303:

Originally Posted By Normal_Guy:
Duh. In other words we are slaves, owned by a faceless upper, upper, upper class.

The snake mask can actually sort of retract, they actually have faces very much like our own.



"Now, people when I say that look at me and say, 'What are you talking about, Joe? You're telling me we have to go spend money to keep from going bankrupt?'. The answer is yes, that's what I'm telling you."

Joe Biden http://www.brainyquote.com/quotes/authors/j/joe_biden.html



Would you happen to know if this snake person would be interested in running for office? I'm curious, what are his views on spending money to avoid bankruptcy?

Link Posted: 1/27/2011 7:01:20 AM EST
Awesome. There has been a distinct lack of U.N. buggery in GD for a while. Thanks for the giggle.
Link Posted: 1/27/2011 7:16:18 AM EST
[Last Edit: 1/27/2011 7:18:46 AM EST by SOTG-SM]
"Some may argue that this debt is backed by the full faith and credit of the United States government. What does this mean? It means, in very insidious terms, the ability of the United States Government to infinitely tax the hell out of American citizens to pay back debts."



THIS

This is the link between fractional banking, fiat currency and our Federal Reserve. Combine the aforementioned with a constituency that can vote themselves largesse and we are in the midst of a disaster. Its not working for many Americans and me. I pay nearly 60% of my income in taxes, and taxation at the rates we are paying is not only immoral but theft. The end result is we are not free

Link Posted: 1/27/2011 7:25:28 AM EST

Originally Posted By LW303:

Originally Posted By Kotter26:

Originally Posted By CSM:
We can default on our debt. Just like the PIIGS could. It would just start a war.


Of course we can default, but I also think we made some backroom deals to provide peace of mind to our lenders.

Then you need to do some more thinking, don't you?

So, why do you think the Chinease head-honcho was just at the White House to meet with Obungle?
Link Posted: 1/27/2011 7:30:47 AM EST

Originally Posted By LW303:
http://www.lightspeedfineart.com/Databases/Images/LSG545-07-001.jpg



This is a goa uld. It is a terrifying alien from outer space. It can kill you with its stick, or else put an alien inside your head to control you. I can understand how frightening this revelation must be. If you give me five thousand dollars I can guarantee I will keep these snake aliens away from you for ten years.


Actually, that's a Jaffa...
Link Posted: 1/27/2011 7:39:46 AM EST
Originally Posted By BobRoberts:

Originally Posted By 4v50:
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.

Yup, we could pay china off in ten minutes if we wanted, but the thought of the repo man coming and taking Yellowstone is so much more logical


That's racist!
Link Posted: 1/27/2011 10:49:09 AM EST

Originally Posted By pcsutton:

Originally Posted By LW303:

Originally Posted By Kotter26:

Originally Posted By CSM:
We can default on our debt. Just like the PIIGS could. It would just start a war.


Of course we can default, but I also think we made some backroom deals to provide peace of mind to our lenders.

Then you need to do some more thinking, don't you?

So, why do you think the Chinease head-honcho was just at the White House to meet with Obungle?

Well, since I'm not crazy, I suppose I'd tend to think he was there because that's the ordinary thing that the leaders of big countries do.

You might be surprised to learn that there is a whole set of protocols and traditions that exist within a real of activity called "diplomacy," which is the relations between nations.


Link Posted: 1/27/2011 3:46:49 PM EST

Originally Posted By SOTG-SM:
"Some may argue that this debt is backed by the full faith and credit of the United States government. What does this mean? It means, in very insidious terms, the ability of the United States Government to infinitely tax the hell out of American citizens to pay back debts."



THIS

This is the link between fractional banking, fiat currency and our Federal Reserve. Combine the aforementioned with a constituency that can vote themselves largesse and we are in the midst of a disaster. Its not working for many Americans and me. I pay nearly 60% of my income in taxes, and taxation at the rates we are paying is not only immoral but theft. The end result is we are not free



+1
Link Posted: 1/27/2011 3:52:25 PM EST
[Last Edit: 1/27/2011 3:54:31 PM EST by Dave_A]
OP is absolutely wrong.

Sovreign debt is UNSECURED debt.

There is NO provision for a creditor to demand land or national assets in case of a default...

It has been a cause for WAR in the past, but right now we would win that war, so that avenue is closed.

Further, all the countries who owe us money, are countries that depend on us for their economy or their security. They have no CHOICE but to keep lending us money, due to the damage that stopping would do at home...

Most of the money that they are lending the US government, is money they GOT selling products to Americans...
Link Posted: 1/27/2011 3:53:19 PM EST
Originally Posted By LW303:

Originally Posted By Normal_Guy:
Duh. In other words we are slaves, owned by a faceless upper, upper, upper class.

The snake mask can actually sort of retract, they actually have faces very much like our own.




Speak for yourself.
Link Posted: 1/27/2011 3:54:53 PM EST

Originally Posted By Kotter26:

Originally Posted By BobRoberts:

Originally Posted By 4v50:
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.

Yup, we could pay china off in ten minutes if we wanted, but the thought of the repo man coming and taking Yellowstone is so much more logical

http://www.sparkcaster.com/demotivational/images/ignorance%202.jpg

Boy some doesn't quite understand monetization of the debt. While not a great thing for anyone involved it will in fact pay off all the debt in 10 min
Link Posted: 1/27/2011 3:58:17 PM EST
No, it isn't secured debt. I do know that we are mere weeks away from having our debt exceed the GDP of our country. If you look around the world in recent months, it hasn't been a very pretty picture when that eventually happens.
Link Posted: 1/28/2011 10:00:11 PM EST

Originally Posted By Dave_A:
OP is absolutely wrong.

Sovreign debt is UNSECURED debt.

There is NO provision for a creditor to demand land or national assets in case of a default...

It has been a cause for WAR in the past, but right now we would win that war, so that avenue is closed.

Further, all the countries who owe us money, are countries that depend on us for their economy or their security. They have no CHOICE but to keep lending us money, due to the damage that stopping would do at home...

Most of the money that they are lending the US government, is money they GOT selling products to Americans...

Nobody knows exactly how much money we owe to China. I’ve seen numbers ranging from 900 billion dollars, all the way up to two trillion dollars! There is no way that China or any other ‘relevant’ country will look the other way when a nation defaults on a loan this large. Debt will be collected––regardless. China also recognizes that we have defaulted before on our financial obligations. Ever heard of Bretton Woods? This was an unprecedented default of the highest level, destroying any confidence that the United States will always honor its obligations — debt or otherwise. Continued U.S. borrowing from China must be guaranteed with something of value that is not made from paper. As far as a war with China is concerned, while highly possible, one must not confuse a country's past glory with its future prospects.


Link Posted: 1/28/2011 10:00:25 PM EST

Originally Posted By Dave_A:
OP is absolutely wrong.

Sovreign debt is UNSECURED debt.

There is NO provision for a creditor to demand land or national assets in case of a default...

It has been a cause for WAR in the past, but right now we would win that war, so that avenue is closed.

Further, all the countries who owe us money, are countries that depend on us for their economy or their security. They have no CHOICE but to keep lending us money, due to the damage that stopping would do at home...

Most of the money that they are lending the US government, is money they GOT selling products to Americans...

Nobody knows exactly how much money we owe to China. I’ve seen numbers ranging from 900 billion dollars, all the way up to two trillion dollars! There is no way that China or any other ‘relevant’ country will look the other way when a nation defaults on a loan this large. Debt will be collected––regardless. China also recognizes that we have defaulted before on our financial obligations. Ever heard of Bretton Woods? This was an unprecedented default of the highest level, destroying any confidence that the United States will always honor its obligations — debt or otherwise. Continued U.S. borrowing from China must be guaranteed with something of value that is not made from paper. As far as a war with China is concerned, while highly possible, one must not confuse a country's past glory with its future prospects.


Link Posted: 1/28/2011 10:03:05 PM EST

Originally Posted By Dave_A:
OP is absolutely wrong.

Sovreign debt is UNSECURED debt.

There is NO provision for a creditor to demand land or national assets in case of a default...

It has been a cause for WAR in the past, but right now we would win that war, so that avenue is closed.

Further, all the countries who owe us money, are countries that depend on us for their economy or their security. They have no CHOICE but to keep lending us money, due to the damage that stopping would do at home...

Most of the money that they are lending the US government, is money they GOT selling products to Americans...

Nobody knows exactly how much money we owe to China. I’ve seen numbers ranging from 900 billion dollars, all the way up to two trillion dollars! There is no way that China or any other ‘relevant’ country will look the other way when a nation defaults on a loan this large. Debt will be collected––regardless. China also recognizes that we have defaulted before on our financial obligations. Ever heard of Bretton Woods? This was an unprecedented default of the highest level, destroying any confidence that the United States will always honor its obligations — debt or otherwise. Continued U.S. borrowing from China must be guaranteed with something of value that is not made from paper. As far as a war with China is concerned, while highly possible, one must not confuse a country's past glory with its future prospects.


Link Posted: 1/28/2011 10:05:50 PM EST
Google "sovereign immunity."

Link Posted: 1/28/2011 10:15:09 PM EST
Originally Posted By Kotter26:

Originally Posted By Dave_A:
OP is absolutely wrong.

Sovreign debt is UNSECURED debt.

There is NO provision for a creditor to demand land or national assets in case of a default...

It has been a cause for WAR in the past, but right now we would win that war, so that avenue is closed.

Further, all the countries who owe us money, are countries that depend on us for their economy or their security. They have no CHOICE but to keep lending us money, due to the damage that stopping would do at home...

Most of the money that they are lending the US government, is money they GOT selling products to Americans...

Nobody knows exactly how much money we owe to China. I’ve seen numbers ranging from 900 billion dollars, all the way up to two trillion dollars! There is no way that China or any other ‘relevant’ country will look the other way when a nation defaults on a loan this large. Debt will be collected––regardless. China also recognizes that we have defaulted before on our financial obligations. Ever heard of Bretton Woods? This was an unprecedented default of the highest level, destroying any confidence that the United States will always honor its obligations — debt or otherwise. Continued U.S. borrowing from China must be guaranteed with something of value that is not made from paper. As far as a war with China is concerned, while highly possible, one must not confuse a country's past glory with its future prospects.




How could we know how much money we owe China when bearer bonds appear to have been printed after they stopped printing them. This was one of the issues of the bearer bonds that were seized by Italian Customs a year or so back. Didn't hear much about that did you.... the bad guys were allowed to slip out the back door and our government said they were fakes without even seeing them.
Link Posted: 1/28/2011 10:21:36 PM EST

Originally Posted By BobRoberts:

Originally Posted By Kotter26:

Originally Posted By BobRoberts:

Originally Posted By 4v50:
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.

Yup, we could pay china off in ten minutes if we wanted, but the thought of the repo man coming and taking Yellowstone is so much more logical

http://www.sparkcaster.com/demotivational/images/ignorance%202.jpg

Boy some doesn't quite understand monetization of the debt. While not a great thing for anyone involved it will in fact pay off all the debt in 10 min


No, actually I do understand. The problem is that you're missing a key element in your statement. The money to pay this debt does not come from our government. This is the responsibility of the Federal Reserve, a private bank. the US government does not print currency, it only prints interest-bearing bonds which it then pledges as collateral on loans to borrow Federal Reserve currency. The Federal Reserve does not care about our problems. They care about their investment. The only way we pay off China in 10 min is if we get another loan.
Link Posted: 1/28/2011 10:28:26 PM EST
Originally Posted By BobRoberts:

Originally Posted By 4v50:
Oh I think we'll pay the Chinese off ––- with hyper-inflated dollars.

Yup, we could pay china off in ten minutes if we wanted, but the thought of the repo man coming and taking Yellowstone is so much more logical


The Chinese can have Yellowstone, but by God the White Mountains and the White River are fucking OFF LIMITS!!!!
Link Posted: 1/28/2011 10:34:04 PM EST

Originally Posted By happycynic:
Google "sovereign immunity."



In the case of the United States, these people don't care-
Link Posted: 1/28/2011 10:35:45 PM EST

Originally Posted By Kotter26:

No, actually I do understand. The problem is that you're missing a key element in your statement. The money to pay this debt does not come from our government. This is the responsibility of the Federal Reserve, a private bank. the US government does not print currency, it only prints interest-bearing bonds which it then pledges as collateral on loans to borrow Federal Reserve currency. The Federal Reserve does not care about our problems. They care about their investment. The only way we pay off China in 10 min is if we get another loan.

"I still don't think he gets the concept."


Link Posted: 1/28/2011 10:36:23 PM EST

Originally Posted By Kotter26:

Originally Posted By happycynic:
Google "sovereign immunity."



In the case of the United States, these people don't care-

To paraphrase Stalin, "How many divisions does the ICJ have?"


Link Posted: 1/28/2011 10:52:59 PM EST

Originally Posted By happycynic:

Originally Posted By Kotter26:

No, actually I do understand. The problem is that you're missing a key element in your statement. The money to pay this debt does not come from our government. This is the responsibility of the Federal Reserve, a private bank. the US government does not print currency, it only prints interest-bearing bonds which it then pledges as collateral on loans to borrow Federal Reserve currency. The Federal Reserve does not care about our problems. They care about their investment. The only way we pay off China in 10 min is if we get another loan.

"I still don't think he gets the concept."

http://img341.imageshack.us/img341/6805/theotherguysferrell.jpg


Link Posted: 1/28/2011 11:56:02 PM EST


China is utterly dependent on us to keep buying their cheap crap.

We depend on them for nothing, other than cheap crap. Cheap crap that is easily taxed, tariffed or simply done without.

Upper hand to us.

Link Posted: 1/29/2011 3:02:31 AM EST
This shall be an interesting thread and so I shall place my TAG, right here.
Link Posted: 1/30/2011 5:55:34 AM EST

Originally Posted By bcd:


China is utterly dependent on us to keep buying their cheap crap.

We depend on them for nothing, other than cheap crap. Cheap crap that is easily taxed, tariffed or simply done without.

Upper hand to us.


I'm quite surprised by some of the views regarding China in this post. I think many people are underestimating them. China’s GDP is predicted to overtake America’s before 2020. Debt is almost nonexistent; when people buy a car, they pay cash. Also don't forget that China is catching up really quickly in most technology, thanks to companies in Europe and the US who provide massive technology transfers for peanuts. They also got this thing called a J-20.

Arrow Left Previous Page
Page / 2
Top Top