China says U.S. should not question its debt holdings (Don't question the overlord)

Reuters ^ | 06/10/10

[TigerLikesRooster]

China says U.S. should not question its debt holdings

Thu, Jun 10 2010

BEIJING, June 10 (Reuters) - China urged the United States on Thursday not to be suspicious about its U.S. Treasury holdings, after the Senate voted to require regular reports on security risks posed by debt held by China and other nations.

The Senate move came as lawmakers grow nervous about the $13 trillion U.S. debt in the aftermath of a European debt crisis, and as record U.S. budget deficits and the debt become major issues ahead of the November congressional elections. [ID:nN09180668]

China is the world's largest holder of U.S. Treasuries, with $895.2 billion, and added to its stockpile in March for the first time in seven months.

Chinese Foreign Ministry spokesman Qin Gang said fears about his country's U.S. debt holdings were unfounded.

"Economic and trade cooperation between China and the United States is win-win and mutually beneficial," he told a regular news briefing in Beijing.

"We hope relevant parties -- some people in the United States -- are not so suspicious," Qin added. "In selling bonds, you have to do it following market principles. Don't politicise everything."

[TigerLikesRooster]

P!

[screaminsunshine]

Holy Mackerel! Commie Chinese teaching our Communists a lesson.

[2ndDivisionVet]

Sure, they have a million or more “repo men” but how do they land them on our shores? Oh, and some advice from another Asian, Admiral Yamamoto, Commander of the Imperial Japanese navy in 1941: “I would never invade the mainland United States, there would be a rifle behind every blade of grass.”

[wendy1946]

They're right. If our commie government is going to sell this stuff to them, they have no legitimate beef.

Our entire money system is altogether BASED on debt, most of it federal. Banks create money out of thin air and charge us interest for it and have to double the M3 money supply every fourteen years to provide enough money to pay that interest since the money to pay interest is not put into the system when money is originally created via debt.

Bork Oinkbama is not the main problem here. At most he has sped up an inevitable day of reckoning by four or five years. Our whole system of money creation and management has to change fundamentally.

Anybody wishing to gain a better understanding of this stuff could use this as a starting point.

[TigerLikesRooster]

What they can do is to approach 'deep blue' coastal city in U.S., which is about to go bankrupt. They promised to bail it out financially at the last moment, when they are most desperate. In return, they secure a port and its perimeter. Chinese workers would be 'invited' to upgrade city infrastructure in disrepair. All this for free. China would pay for it. Then they can gradually turn it into a fortified beach head.

With the help of globalist morons and some deluded libertarians, this plan could fly.

[Kozak]

Read it and weep.....

[TimSkalaBim]

the Senate voted to require regular reports on security risks posed by debt held by China and other nations.

snort. Typical shell game maneuver on the part of the US Senate. What we really need are regular reports on the security risks posed by an out-of-control legislature.

[Dem Guard]

$895.2 billion seems like chump change compared to the 13+ trillion we owe! ;-)

[Talisker]

Chinese Foreign Ministry spokesman Qin Gang said: "In selling bonds, you have to do it following market principles."

Translation Hint: When the Chinese Government talks about "market principles," they are not talking about what you think they're talking about.

What they're actually talking about, is killing you.

[Wolfie]

But we sure taught Cuba a lesson.

[Oceander]

"We hope relevant parties -- some people in the United States -- are not so suspicious," Qin added. "In selling bonds, you have to do it following market principles. Don't politicise everything."

was the irony here intended, or not?

At any rate, when the Chinese government says "don't worry about X," the smart money worries about X. In particular, notice that what is stated here - one must sell bonds following market principles - is merely a truism, and does not foreclose the possibility of using those same market principles as a weapon, or an alternative means of war, by, for example, dumping all of your bond holdings into an already saturated market in order to make it impossible for the issuer - who, like a drug addict, must make constant resort to the markets to sell new bonds on a frequent basis - to issue its required new bonds at anything less then ruinously high interest rates.

That is, most definitely, "selling bonds ... following market principles," but not in a benign or innocent manner. It is that apparent benignity or innocence that the Chinese government wishes us to imply into their statements for their benefit despite the fact that nothing they have actually said gainsays the possibility that they might resort to using the capital markets as an alternative means of war.

That is another reason why what the Democrats and Obastard have done amounts to, is tantamount to, treason - by so grossly gorging on unsupported debt, they have given aid and comfort to the enemy in an almost literal manner.

[TigerLikesRooster]

It is that apparent benignity or innocence that the Chinese government wishes us to imply into their statements

You are right. However, I know people who will fall for it. Out of frustration with big-government lovers of both parties, some would root for China. In the frenzy of emotion, they forget that China is far more sinister when it comes to big government ways. Still, the perceived lack of regulations in China 'excites' them to no end.

[95B30]

Other then a couple of old farts like us, who would stop them from landing? We can't even stop a bunch of armed warlords from Mexico from entering at will! You don't think the obambie crew would be able to react to an invasion any faster then to the BP oil spill do you? They’d the whole left coast before we heard “Let me-ah-be-ah perfectly clear...”

[rjsimmon]

The Senate move came as lawmakers grow nervous about the $13 trillion U.S. debt

They are just now growing nervous? The lot of them need to be held criminally accountable for the ruin they are making of this once great nation.

[quintr]

The lawmakers should be worried about the debt they’ve put the taxpayers under. And you can bet it’s going to provide impetus at the polls.

What did they think would happen? Good grief, doesn’t one of them have a brain that works?