Do we really want to piss China off? What happens to America if they call all the debt we owe them? Two can play the extreme game and they have the upper hand.
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Do we really want to piss China off? What happens to America if they call all the debt we owe them? Two can play the extreme game and they have the upper hand.
China owns $1.2 Trillion of our $19 Trillion debt. They already want the Yuan to replace the dollar as the world's currency. If that happens, I think we see Zimbabwe-type hyperinflation here.
We'd just print more money to pay for it.Originally Posted by T1
Besides, they make so much money on the interest that they are better off investing in the U.S. China spends about $145B on their military and the interest on the debt from the U.S. can fund about 25% of that.
China needs us as much as we need them. If we go under, nobody will buy their crap.
Time is your friend. Impulse is your enemy. -John Bogle
China has 70 Trillion dollars worth of debt. We aren't worried about them calling our stuff. The FED would simply buy their debt and China would collapse because they would lack buyers for their stuff.
That's the nuclear scenarion that conservatives have been warning about for a couple decades now.
If the dollar is replaced as the world's currency, the U.S. gov't would either, have to declare bankruptcy, start taxing wealth and/or confiscate our checking and savings accounts, a la Greece.
Either way, the good times will be over. Washington elitist class will blame it all on capitalism. They will proclaim a Financial Martial Law, so, expect the constitution to be suspended. So, no more free speech, property or religion.
Then, they will come for our guns. You will not be able to own, buy or sell anything if you own a fire arm. They will legally be able to search your property for the guns and they will find them.
The gov't will then move very strongly to set up a China-based gov't. Communist gov't but with some capitalist tendencies. (There are already many elistists that think China's gov't and centrally controlled economic setup is the wave of the future. Communist gov't will openly control all major corporations (not that they are already controlled by fed gov't regulations) and will nationalize several others (energy, food production and processing, transportation companies). The major corporations will become pseudo Executive Departments with politicians appointing the CEOs.
(Very close to Facism.)
No small businesses, the gov't and their huge corporations (psuedo Executive Departments, now) will provide everything.
For those that wonder why the U.S. does not seem to play a part in Biblical end times, my theory is that the U.S. will be an economic shell of what it once was and in no way will be able to support a military that can fight an overseas war. Heck, half of our population already thinks our military and its spending should be reduced to nothing. Plus, after the rapture, the Republicans will lose landslide elections from national elections all the way down to dog-catcher. One party rule will be solidly in place and the U.S. military will be moth-balled almost immediately.
...... Or, maybe not. Sorry, got on a thought roll and couldn't stop.
China is the only Lucky Dog cart on the street and we are the fattest guy in the neighborhood. Our relationship isn't changing anytime soon.
Obama's supposedly going to nominate his choice for Supreme Court Justice today, so I guess we'll soon get to see if the RINO's have been affected at all by the "Trump" movement within the Republican Party. My bet is that they'll cave to Obama before the November election, and they'll blame it on us!
It will be the final death nail in the coffin for the GOP if they even consider.
And people wonder why Trump is going to win. The establishment will join the dems and push the nominee through.
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