Well, since their currency is pegged to ours, it would be weakened.
That's why they are switching to precious metals. They SEE the U.S. sinking and want to minimize their losses.
“Well, since their currency is pegged to ours, it would be weakened.”
Notice that China is buying LESS of our debt.
They are slowly distancing themselves from us and diversifying. It’s a smart move and it’s subtle. They are buying just enough of our debt to protect the value of the money they’ve already spent on our debt. This is very bad news for the U.S. and worldwide. It will become a domino effect ... just wait and see.
On that note, guess what IDIOT is praising the U.S.?
Dalai Lama Calls America ‘Champion of Freedom’ in Exclusive Interview
Friday, April 24, 2009
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The Dalai Lama praised American democracy and said he thinks President Obama is realistic and open, in an exclusive interview with FOX News during his five-city tour of the United States.
The Tibetan spiritual leader, in addition to discussing the value of kindness and compassion, spoke of his admiration for the United States.
“I think basically America is a champion of freedom, democracy, liberty,” he said before a series of lectures at the University of California, Santa Barbara. “Occasionally the administration neglects these principles, but overall, I think these principles are very much alive in this country.”
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“He seems, I think, very realistic, very open,” the Dalai Lama said, “and he always reaches out to other people, even though some people create some problems. He always reaches out. That’s, I think, wonderful. Very good.”
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“Certain principles, such as human rights, democracy, rule of law, freedom and openness, these things are principle matters. If you (believe) money is more important than these principles, then that is morally wrong. We must stand firm on these principle matters.”
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“I think the global economic crisis, in a way, is good, to teach people who usually see their luxurious way of life. Now, I think it reminds people there are limitations. It’s unrealistic to always expect grow, grow, grow, grow,” he said.
(Did you catch that? He LIKES “limitations” and doesn’t want countries to “grow” and PRO$per.)
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http://www.foxnews.com/story/0,2933,517837,00.html
Obama is remaking our “image” into a poor, third world country where comapnies are run by the government and there is no incentive to be a super power or achieve.
All the anti-capitalists and poorer countries will LOVE the U.S.. Imagine what this will do to our “image”?