[skeptical_con]

"Using Currency as the Primary Weapon
I hate to admit it, but the Chinese have done a masterful job. While America’s media is hypnotizing us with frivolous entertainment such as American Idol or The Amazing Race, they are totally ignoring the perilous economic time bomb the Chinese have placed against us. The Government of China is holding U.S. currency and Treasury notes in a $1.9 trillion Treasury bond trap. When they pull the trigger on their “primary weapon,” the dollar will crash..."

http://www.energybulletin.net/4301.html

I certainly don't have the understanding of economics necessary to evaluate this claim but I certainly hope, Ven erable Bede, that you are right and our large foreign debt. is no threat. I would love to be proven wrong. Nonetheless even if this is overly dramatized it continues to strike me as ominous.

[Praxeologue]

The Government of China is holding U.S. currency and Treasury notes in a $1.9 trillion Treasury bond trap. When they pull the trigger on their “primary weapon,” the dollar will crash..."

Please confirm statistics you read from biased, ie Democrat, sources, before you post them.

At the end of September 2004, foreigners held about $1.9 billion of U.S. federal debt. Japan held $720 billion of this amount. China was in second place with $174 billion: i.e. less than 10% of foreign-held debt and just over 3% of total federal debt.

China is not in a position to crash the U.S. dollar, much less the U.S. economy.

That statement could change in a decade if we keep running the same deficits, but it is misleading to make that claim today.