CHINA TELLS U.S "GOOD OLD DAYS" OF BORROWING ARE OVER

[chocolate1]

...Two great stories:

1. No more barrowing, says China.

2. Globallly promulgates renewed call for new reserve currency

The ride is over folks! What to do now that China is no longer going to be our 'ways-and-means committee'? Quite frankly-they have done all they can do for us-they have held our hand long enough. We need to stop sucking our thumb and get our own books in order, already! The future looks very interesting, to say the least....

http://www.reuters.com/article/2011/08/06/crisis-idUSLDE77504R20110806

Edited August 6, 2011 by chocolate1

[Nani?]

you know what power we have over other countries? consumerism... they need our materialistic society to buy their crap so I doubt they get to just push us around.

[chocolate1]

you know what power we have over other countries? consumerism... they need our materialistic society to buy their crap so I doubt they get to just push us around.

...but the U.S. is so afraid of taking 'the crap they make for us', away from them and making it here in the U.S instead, because then they would be provinding hundreds of thousands of jobs to Americans again, which would not mix well with their current plans for us....

[capt.cliff]

Don't panic it has been planed for , the US Treasury will just raise the interest rate on the notes to an attractive level for buyers, this has been done time and time again

CC

[GinaG]

I look at every tag if it's made in America I buy it, but sometimes I slip up, but I will double check now just to make sure. Buy only American merchandise for a week lets see if we can get back on track, and start trimming the fat! My husband has a Ford F250, and when I go car shopping I will buy only an American brand auto. Take that to the bank.

[dog53]

Screw CHINA !!

[HawaiianGal]

Remember, there's a Ford plant in Canada now!

[katd1228]

BUY AMERICAN! support America! My youngest daughter always looks at who manufactures our products we buy. It is hard to buy just American but even cutting 1/3 of imports out makes a difference. If everyone did - it would make a dramatic difference

[tyron]

...Two great stories:

1. No more barrowing, says China.

2. Globallly promulgates renewed call for new reserve currency

The ride is over folks! What to do now that China is no longer going to be our 'ways-and-means committee'? Quite frankly-they have done all they can do for us-they have held our hand long enough. We need to stop sucking our thumb and get our own books in order, already! The future looks very interesting, to say the least....

http://www.reuters.com/article/2011/08/06/crisis-idUSLDE77504R20110806

Judging from your comment I suspect you have not much insight into the Chinese. I do. They hold no ones hands unless it suits them. They are a pragmatic, hardworking, cunning people, and as a race they are capable of long punishing hours and can easily defer pleasure. This is the moment of triumph and pleasure they have been waiting for while they were holding the red devil's hand.

[estewart]

THE most important statement made was this: "China -- the United States' biggest creditor -- said Washington only had itself to blame for its plight and called for a new stable global reserve currency."

China and a few other nations (France, Germany, and several others) are developing a new World's Reserve Currency, based upon actual wealth in the form of a basket of commodities, which includes oil. The current World's Reserve Currency is but only borrowed into existence and has no intrinsic value. It's fundamentally worthless, though used to be based on gold. And that's the USD.

If China and the other nations can replace the existing worthless World's Reserve Currency, the world would become rescued from financial disaster while the US collapses not just into being a Third World Nation, but totally destroyed.

This is all on the horizon. It's looming. It's coming, and every day we are closer to this demise.

[tyron]

THE most important statement made was this: "China -- the United States' biggest creditor -- said Washington only had itself to blame for its plight and called for a new stable global reserve currency."

China and a few other nations (France, Germany, and several others) are developing a new World's Reserve Currency, based upon actual wealth in the form of a basket of commodities, which includes oil. The current World's Reserve Currency is but only borrowed into existence and has no intrinsic value. It's fundamentally worthless, though used to be based on gold. And that's the USD.

If China and the other nations can replace the existing worthless World's Reserve Currency, the world would become rescued from financial disaster while the US collapses not just into being a Third World Nation, but totally destroyed.

This is all on the horizon. It's looming. It's coming, and every day we are closer to this demise.

You know what. It doesn't have be such a depressing fate. We brought ourselves to this pass with our unthinking, careless ways and we can get ourselves out. For example - they can't stop us keeping our wealth in gold and silver. Why don't we bring their sham fiat money to an untimely demise well before their SDR is ready to be unleashed upon us. Let them be left holding paper for a change.

[tandy]

the foreign aid policy arrangement with China is a weird policy....search it

[Slaydadea]

Stop all foreign aid and close the borders. We are bankrupt as a country!! It is now mathmatically imposible to pay this much debt off even in your unborn grand child's lifetime and theirs for generations to come. I guess everybody knows that though. I'd hate to wake up to to a house payment, car payment, and try to put kids through school and provide for them in this day and age. Our way of life is in the crapper. We owe it all to our leadership in the house. We've lost our AAA rating, if we lose our reserve currency status as China has recommended, we'll regress 200 years. It's going to look like Kenya in the near future if that happens. Who will be the next reserve currency? It's been hashed out over and over.

[daniel777]

Www.digusout.com

It is a website with AMERICAN companies!

We need to do as much as we can to try and buy AMERICAN!

Oh yeah screw China!

[cajunrescuemedic]

I agree with you Slay........close our borders, drug screens for welfare recipeints, a complete change of everyone on Captiol HIll, including wage reductions and also drug screens for ALL elected officials. That should thin out the mix very well.

[tommyboy]

I say to tell your representatives to stop adding "earmarks" or riders to bills when they have no merit and couldn't pass on their own. The ONLY purpose they serve is to pay for political favors and grandstanding in their home districts to get reelected. These little gems add billions or maybe more to the worth-while bills and appropriations that are passed, and they're all pork !! That's our money and they are giving it away for useless, senseless BS every darn day. Wouldn't be at all surprised to see the amount in the last 5 years to be in the trillions. It's gotta change !!!!

[tyron]

Stop all foreign aid and close the borders. We are bankrupt as a country!! It is now mathmatically imposible to pay this much debt off even in your unborn grand child's lifetime and theirs for generations to come. I guess everybody knows that though. I'd hate to wake up to to a house payment, car payment, and try to put kids through school and provide for them in this day and age. Our way of life is in the crapper. We owe it all to our leadership in the house. We've lost our AAA rating, if we lose our reserve currency status as China has recommended, we'll regress 200 years. It's going to look like Kenya in the near future if that happens. Who will be the next reserve currency? It's been hashed out over and over.

More than half of this debt is owed to the Fed and they only created it as zeros on a computer screen. Why should it be paid with blood and sweat? Tell me why it has to be paid? Look how well Iceland has done by not paying the fat greedy bankers?

[Nut-Job]

I agree with you Slay........close our borders, drug screens for welfare recipeints, a complete change of everyone on Captiol HIll, including wage reductions and also drug screens for ALL elected officials. That should thin out the mix very well.

It's always funny to hear people talk about cutting funding for welfare recipeints but never hear about cutting tax breaks for the filthy rich!......whom in fact don't pay their fair share in taxes and have hired professionals to help find loop-holes in the tax codes to get out of paying their share.

listen folks, don't believe the hype!

I am a conservative robber of the rich and could careless about the poor. I have pulled myself up by taking someone elsed boot straps and I have made millions in proffits off of Bernie Madoff ponzi style schemes from the rich. I tell you that the price just went up on a product that is not lacking in resources and I brag and boast about quarterly proffits. I lobby for my cause by paying those who make desicions that the ants have voted for into office. Those in office love it when I put their kids through college, they help me,I help myself. The cap on my head stands for capitalism, it is always on the brain. my national anthem goes like this: America, America, I got my riches from thee, capitalism made it good, taking people's money from suburb to hood, while the rich people laugh, and give wall street bonuses to their staff...........from sea to shining sea!

I love America and Capitalism so much I once bought 100 generators for about 250.00 dollars each and went to a tornado ravaged town and sold them for 1250.00 dollars a piece. I was the only person with the generators for sale in town. And guess what, the welfare recipeints could not afford buy my generators......I made a killing off of the rich and help lighten their wallets and their homes!

another capitalism success story!

Edited August 6, 2011 by Nut-Job

[Slaydadea]

More than half of this debt is owed to the Fed and they only created it as zeros on a computer screen. Why should it be paid with blood and sweat? Tell me why it has to be paid? Look how well Iceland has done by not paying the fat greedy bankers?

Mr. tyron, I don't have a correct answer, I'm not so sure there is one. Maybe it doesn't have to be be paid. Iraq entered chapter 7 on our nickle and the world is buying them up a piece at the time. Where did our investment in Iraq go? Lost lives and squandered money on a pipe dream I would think. America can not afford to rebuild Iraq. With all the talk recently about losing our reserve status, it's quite possible that Iran or Russia may own it all. Not sure just yet. To soon to tell. Wish I had better news. Best regards, Slay.

[RodandStaff]

Well, can't say we didn't see this coming. It's time we get our own house in order. Here is something put out by a local guy ya'll may have heard of, I have put it up a couple of times but it fits here too-

‎"If the US Government was a family, they would be making

$58,000 a year, they spend $75,000 a year, & are $327,000 in

credit card debt. They are currently proposing BIG spending

cuts to reduce their spending to $72,000 a year. These are the

actual proportions of the federal budget & debt, reduced to a

level that we can understand. -Dave Ramsey

Edited August 7, 2011 by RodandStaff

[Kittykins]

OOOoooOOOooooo China mad ? Well good gawd stip the presses.... Oh they did !

What will little Ming Lee Jing Bing do now if we stop buying their products.... OOOooooh the horror !

[Slaydadea]

Well, can't say we didn't see this coming. It's time we get our own house in order. Here is something put out by a local guy ya'll may have heard of, I have put it up a couple of times but it fits here too-

‎"If the US Government was a family, they would be making

$58,000 a year, they spend $75,000 a year, & are $327,000 in

credit card debt. They are currently proposing BIG spending

cuts to reduce their spending to $72,000 a year. These are the

actual proportions of the federal budget & debt, reduced to a

level that we can understand. -Dave Ramsey

Well said Sir!

OOOoooOOOooooo China mad ? Well good gawd stip the presses.... Oh they did !

What will little Ming Lee Jing Bing do now if we stop buying their products.... OOOooooh the horror !

Fire Walmart and Target. Pretty good start.

[Hntr]

It's always funny to hear people talk about cutting funding for welfare recipeints but never hear about cutting tax breaks for the filthy rich!......whom in fact don't pay their fair share in taxes and have hired professionals to help find loop-holes in the tax codes to get out of paying their share.

listen folks, don't believe the hype!

I am a conservative robber of the rich and could careless about the poor. I have pulled myself up by taking someone elsed boot straps and I have made millions in proffits off of Bernie Madoff ponzi style schemes from the rich. I tell you that the price just went up on a product that is not lacking in resources and I brag and boast about quarterly proffits. I lobby for my cause by paying those who make desicions that the ants have voted for into office. Those in office love it when I put their kids through college, they help me,I help myself. The cap on my head stands for capitalism, it is always on the brain. my national anthem goes like this: America, America, I got my riches from thee, capitalism made it good, taking people's money from suburb to hood, while the rich people laugh, and give wall street bonuses to their staff...........from sea to shining sea!

I love America and Capitalism so much I once bought 100 generators for about 250.00 dollars each and went to a tornado ravaged town and sold them for 1250.00 dollars a piece. I was the only person with the generators for sale in town. And guess what, the welfare recipeints could not afford buy my generators......I made a killing off of the rich and help lighten their wallets and their homes!

another capitalism success story!

Well if anyone was to to ever wonder why this country is in the terrible state that it is........here ya go! This guy is the prime example of greed. This guy takes advantage of those in need and brags about it. Unbelievable! Nut-Job is an understatement.

Edited August 7, 2011 by Hntr

[estewart]

The Federal Income Tax does not go to the government to pay for services but to the FED to pay a trifling on the interest the government owes the FED for the money it has borrowed from the FED. So it is pretty much pointless to bemoan who pays and who does not. The tax is a fraud.

ALL the National Debt is owed to the FED for the money the government has borrowed from the FED. There's no other significant debt.

The FED does not need the money as it can print all it likes, and does, so what is the Federal Income Tax actually for? Might it not be just be to suck wealth out of the economy (people's pockets) so that it can't be freely spent and contributing to inflation as a result? Again, it does not go to the government. Google the "Grace Commission Report". . . you'll see.

"WE" are not the cause of the current situation. The US government is not the cause of the current situation, except as a consequence of lax, failure to act. THE CAUSE of the current situation are the few people in the shadows who control the FED, such as the Rothschild family clan of international bankers. http://en.wikipedia....thschild_family

The Rothschild do not appear to in control of China. China appears to be quite removed from the financial failures going on in the rest of the world. It is not hurting.

And what do you think the Powers That Be will be doing about this loose cannon -- China? It will, most likely, in my view, do what they usually do, which is to create a war. In this case it will have to be WWIII. What they could do, for example, is cause one of the missing from the old USSR WMDs to go off in Germany and blame it on China. That would do it, drawing NATO into war, and the US, too.

Most all wars are caused by tricks like this. For example, the Iraq invasions.