China Growls at the USA

[bluefete]

America does not rule the world. China does!!


Washington shutdown must end, China tells the US: Finance minister demands 'concrete measures' to avoid catastrophic default

China is America's biggest creditor and warned against financial peril
Chinese official said the 'clock was ticking' for U.S.
U.S. must take action before October 17

By Tom Leonard

PUBLISHED: 23:38 GMT, 7 October 2013 | UPDATED: 11:51 GMT, 8 October 2013

China publicly intervened for the first time in America’s looming debt crisis yesterday, demanding the US take 'concrete measures' to prevent a default on government debt that could be globally catastrophic.

China is the U.S’s biggest foreign creditor, holding at least £794 billion in US Treasury bonds, and its leaders warned Washington against jeopardising its huge stake in the American economy.

Expressing concern over the continuing deadlock in Washington about raising the government’s debt ceiling, China’s vice finance minister, Zhu Guangyao, said the 'clock was ticking' for the U.S.

As the world’s two biggest economies, 'China and the US are inseparable,' he said.


China warned the U.S. about the potential global financial fallout of the deadlock.


Referring to a similar Washington impasse in 2011 that led to the humiliating downgrading of America’s credit rating, Mr Zhu said: 'We hope the United States fully understands the lessons of history.'

The U.S. has until October 17th to agree to raise its debt ceiling or the Treasury will run out of money to pay what it owes.

Shares on Wall Street and in Europe continued to fall yesterday as the US government headed into a second week of a partial shutdown with no signs of any agreement over the budget.

The White House reiterated that President Barack Obama will not negotiate with the Republicans over the threat of a debt default, the first in U.S. history.

Aides say Mr Obama believes that negotiating will set a dangerous precedent for future debt ceiling talks.


The gathering storm: Shares fell as Obama reiterated he would not negotiate with the Republicans

Yesterday, Mr Obama said he believed Congress would vote both to reopen government and to raise the debt limit if they did it now.

'My very strong suspicion is there are enough votes there' to pass legislation, he said. 'Hold a vote. Call a vote right now. Let’s see what happens.'

However, the Republicans control the House of Representatives. And Republican House Speaker John Boehner vowed on Sunday not to raise the U.S. debt ceiling without a 'serious conversation' about what is driving the debt.

With tensions rising in Congress, Democrats countered that their opponents are being irresponsible and reckless to raise the possibility of the US defaulting.

The chances of a deal are further hampered by the increasingly venomous war of words between the two main leaders in Congress - Mr Boehner and Democrat Senate leader Harry Reid.

Yesterday, a spokesman for Mr Reid accused Mr Boehner of 'refusing to come to grips with reality' and saying 'things that fly in the face of facts'.

White House economic chief Gene Sperling has suggested that Washington could buy some more time to reach a deal if Congress approved a bill to boost the debt ceiling for a few weeks.

Conservative Republicans in the House of Representatives have been accused of holding the U.S. to ransom by resisting a deal to keep funding the government unless Mr Obama agrees to delay his healthcare reforms.

Many Republicans want a similar condition, as well as others to cut the huge US deficit, placed on raising the debt ceiling.

The two parties faced off over the same issue two years ago, agreeing only to a last-minute deal after pressure from the financial markets.

Mr Obama has already appealed to Wall Street to force the hand of the Republicans once again.

But investors are hardly reassured. Shares on European markets fell to a four-month low on Monday with those on Wall Street tumbling even lower.



Read more: http://www.dailymail.co.uk/news/article ... z2h8hhsM2s
Follow us: @MailOnline on Twitter | DailyMail on Facebook

[VexXx Dogg]

Well China played a game of strategy and is in a position to squeeze their balls a bit now.

[zoom rader]

doh worry India and Brazil waiting to put de hurt on US aswell

[~Vēġó~]

very interesting....

[TriniAutoMart]

When China speaks!

[zoom rader]

The US full ah chit, they backsqueez cuba saying them is communist but low and behold they biggest trading parther is China which is the largest communist nation.

[Redman]

Ok
So what is China going to do.
They cant sell the debt,they need the US to continue buying their goods -so its Mutually Assured Destruction-similar to the cold war.

No government wants the musical chairs game to stop-so everybody making the right noises but really need things to remain the same.

None of the Governments want hire interest rates or to reduce spending-which are necessary to solve some of these recurring problems

My concern is whether we in TnT -happy people that we are are concerned about the peg to USD and how it affects our economy.

[rocknrolla]

like a news report from the past. a past post that is.. lol

[JoeBama]

Ok
So what is China going to do.
They cant sell the debt,they need the US to continue buying their goods -so its Mutually Assured Destruction-similar to the cold war.

No government wants the musical chairs game to stop-so everybody making the right noises but really need things to remain the same.

None of the Governments want hire interest rates or to reduce spending-which are necessary to solve some of these recurring problems

My concern is whether we in TnT -happy people that we are are concerned about the peg to USD and how it affects our economy.

^^ THIS!! our future is in their hands... yet it seem the small countries dont have the balls to tell the U.S. Government to get their act together..

[rocknrolla]

Ok
So what is China going to do.
They cant sell the debt,they need the US to continue buying their goods -so its Mutually Assured Destruction-similar to the cold war.

No government wants the musical chairs game to stop-so everybody making the right noises but really need things to remain the same.

None of the Governments want hire interest rates or to reduce spending-which are necessary to solve some of these recurring problems

My concern is whether we in TnT -happy people that we are are concerned about the peg to USD and how it affects our economy.

it is worthy to note. that to understand the whole picture we must take note that 'spending' has two applications..

when they refer to 'reducing spending', this type of spending applies to the government. this means curbing the constant deficit spending budget after budget and smaller government.

in addition to reduced spending, government must give purchasing power to the taxpayers. the taxpayers are supposed to be facilitated in 'increased spending'. and having savings in the bank being articles of a surging economy.

however, government has been doing the exact opposite and trying to spend their way out of inflation by using 'quantitative easing' another name for 'deficit spending' lol. but while theyre spending theyre printing new money and it's not backed by any asset.. like gold or something tangible that has value. effectively, just a piece of paper like monopoly money.

with each deficit dollar they spend the value of all the present dollar bills drops. so even though it says one dollar it goes down to 94 cents, then 90, then 74, down down down till it's worthless. all the while, each time that happens, suppliers, retailers raise their prices to combat the increasingly worthless dollar. but your salary stays the same. that is what causes the hard times on the economy. and corruption etc swooping in and giving big stacks of money to select individuals. the wealth never trickles down in this very rich island. that's what BRICS is about, having predicted this happening and advising against it. Brazil Russia India China are creating a dollar to replace the US dollar across europe and asia when the dollar crashes.

if world leaders could be predicting this. why couldnt i?

conspiracy no more.

[rocknrolla]

Ok
So what is China going to do.
They cant sell the debt,they need the US to continue buying their goods -so its Mutually Assured Destruction-similar to the cold war.

No government wants the musical chairs game to stop-so everybody making the right noises but really need things to remain the same.

None of the Governments want hire interest rates or to reduce spending-which are necessary to solve some of these recurring problems

My concern is whether we in TnT -happy people that we are are concerned about the peg to USD and how it affects our economy.

^^ THIS!! our future is in their hands... yet it seem the small countries dont have the balls to tell the U.S. Government to get their act together..

we have oil, we could recoup. or did we sell those to US owned companies?

hopefully we will be able to structure an agreement based on our oil asset to maintain our dollar's worth? i have no idea how much oil we are estimated to have but i hope is plenty. we may have to negotiate with china on signing up for the BRICS which i believe is introducing gold backed currency. while the rest of the world was going into debt.. china had and has trillions in reserve. enough to lend usa a couple lol

[teems1]

Well China played a game of strategy and is in a position to squeeze their balls a bit now.

It's only around 9% of the debt they own. The bulk is still owned by the US Government and it's citizens.

[rocknrolla]

Well China played a game of strategy and is in a position to squeeze their balls a bit now.

It's only around 9% of the debt they own. The bulk is still owned by the US Government and it's citizens.

that is 1+ trillion they owing eh. not $20

[rocknrolla]

http://rt.com/business/debt-ceiling-default-usa-931/

[Redman]

Ownership of oil resources isnt insulation against a devalued/debased USD.

We also purchase much of our imports in/from non US currency based jurisdictions.

Weaker USD implies higher prices on many of our imports- which is inflationary

For stability we need to be pegged against a basket of currencies

[rocknrolla]

well we'd have had to be looking at solutions and precautions in the event of a us dollar flop since the PP got in power and before. this is real last minute and reactive.. as is the trini way.

there must be a way to secure our dollar's value in the event of a flop. we would need to have a backed dollar. what ur saying is our ass is grass if we in our sovereignty cannot find a solution that ensures we dont fall along with the US.