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09/30/2006 Archived Entry: "China has a trillion dollars"

WALK SOFTLY BUT CARRY A BIG STICK

Claire is absolutely right. Decent people the world over can and should shun the US and all things American. The abominable cowardice and viciousness of our "representatives" cannot be excused. The naked face of tyranny has been revealed, and we as a nation have sanctified it with a new law. Read as much as you can stand about Maher Arar if you really want to see this retroactive "law" at work.

China will have a Trillion dollars any day now.

That's Trillion with a 'T.' One thousand billions, one million millions, 1,000,000,000,000 pieces of fancy printed paper backed by nothing but "the full faith and credit" of the federal government. China and Japan together hold over 1.8 Trillion promises.

We gave the $1.8 Trillion to the Japanese and Chinese in return for tangible goods that US consumers purchased. At the same time, the War parties have destroyed at least $0.8 Trillion and more likely $2 Trillion of the nation's wealth.

A Trillion here, a Trillion there, it adds up real quick. The money spent on war is truly gone, utterly wasted, blasted to bits by bombs, leaving only tens of thousands of maimed and murdered to remind us. Blood and treasure, squandered.

China doesn't have to dump the dollar to inflict great harm. Chinese purchases of spiraling federal war debt have kept US interest rates low and US stock markets at nosebleed levels. Should China or Japan merely slow or stop their rate of purchase, the effects on the US economy would be immediate and dramatic.

Slowing their purchases is exactly what China plans to do. Eventually, China and Japan will use all those dollars to buy things THEY want. Those Trillions presently cluttering vaults and halls will enter the economy, bidding up the price of literally everything.

China doesn't have to make any announcements. It needn't apply to the UN, or pass a new law. It simply has to stop buying dollars. Once the US economy has been thrown into recession or depression, China can use its Trillion-dollar stick to whack the US over and over again, buying oil companies, real estate, tech companies, or anything else it pleases, all at bargain basement prices.

Who would blame them? We are bullies and worse, and bullies need a good thrashing. We won't get what we want, but we will certainly get what we deserve.

Posted by Silver @ 09:19 AM CST
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