China has 'canceled US credit card': lawmaker
Submitted by buyonecash on Sat, 05/02/2009 - 21:27
Representative Mark Kirk, a member of the House Appropriations Committee and co-chair of a group of lawmakers promoting relations with Beijing, said China had "very legitimate" concerns about its investments.
"It would appear, quietly and with deference and politeness, that China has canceled America's credit card," Kirk told the Committee of 100, a Chinese-American group.
"I'm not sure too many people on Capitol Hill realize that this is now happening," he said.
http://rawstory.com/news/afp/China_has_canceled_US_credit_ca...
»
Now, it's up to us to decide.
Either 1) We get out of the war on terrorism or 2) We go into a depression.
There is no two ways about this.
Hear me out. Noam Chomsky talks about the release of the Pentagon Papers. (Yeah, im talking about Chomsky, get over it.) One of the major revelations was that the reason we had to leave Vietnam is precisely because we could not afford to pay for the civil unrest at home while fighting the Viet Kong abroad. It was simply too much for us to afford.
The war on terror is costing us $1billion every day (joseph stigletz). what do you think is going to happen, now that our funding has run dry?
I'm all for abandoning MENA
Johnson was tapping the Social Security pension fund for the Vietnam War - we could of stayed forever, albeit at the retirement funds expense. All Social Security funds by law have to be deposited into the Treasury (LOL).
We lost the war, not because of money, but because it was unwinnable.
The most decorated U.S. Marine in history, Lt.General Chesty Puller said in 1957, the Red Chinese will win [Vietnam] without firing a shot.
Then, Commandant of the Marine Corps, General David M. Shoup - told President Johnson, all the Generals he knows said, "No land war in Asia."
REALLY short sided thinking on this
SORRY You are wrong ...HENRY KISSINGERyou-no
re: "unwinnable"
Unwinnable, yes. But it was our empty wallets that made us finally leave.
think of it
NOT unwinnable ,but, NO LONGER viable to the plan..CHINA syndrom took over, PROFITABILITY for the ROTHCHILDS of the world...
..you-no
.
.
No more china to whipe our ass
"We should track that, because up until last month they were the number one provider of currency to the United States and now they're gone."
SOMEONE is a responsible finacial officer
About time SOMEONE cuts up the credit card..
you-no
This
This is where the dollar crisis comes into play and investing in silver could save your financial well being.
In the aftermath of Katrina,
the price of natural gas was supposedly headed for the moon. Every reason in the world was given why there would be massive shortages this winter and skyrocketing prices for both natural gas and oil.
Suddenly in November of 2005, the Federal Reserve gave its Approval of proposal by JPMorgan Chase & Company, "for commodity trading activities, including physical transactions in energy-related ... JPM Chase also must notify the Federal Reserve Bank of New York..."
Even more sudden was the 40% drop in natural gas prices. Do not underestimate the power of the establishment. They are not the establishment by accident.
Great news
I was totally pissed when China bought the 800 Billion of our debt in the first place. They caused too much demand and consequently a lower yield than I could get at the bank. This timing is damn near perfect, there is a God ! (smile)
Obtw, gold-bugs, enjoy it while it lasts. As soon as interest rates get decent again, a lot of gold it going to be redeemed to buy Treasury's.
Good drop buyonecash
bump
bump for comments. too much tequila to formulate my own.