Comment: Maybe the Chinese are trying to delay the collapse of the dollar

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Maybe the Chinese are trying to delay the collapse of the dollar

until they are more prepared.

I find it difficult to believe they haven't looked into the numbers.

Government deficits of $2.5tn in 2020 and rapidly rising due to increases in debt servicing, pensions and Healthcare costs.
(The retirement age and Medicare qualification age will have to significantly rise at some point - there isn't another solution. The retirement age will have to be at least 70, perhaps as high as 75 by 2050.)

National Debt of $36tn by 2022 - but then you have to add in this which will take it to $40tn+.

NOBODY has yet factored this into deficit or National Debt calculations - the Federal Reserve charging the Treasury for their multi trillion future trading losses on trades they are making now.

The Chinese are not yet ready for a dollar collapse.
They have their own domestic problems with the slow down in exports to Europe and the US.
Some realistic estimates put current Chinese GDP growth as low as 0% (the government has always overstated official GDP growth and are saying it is about 6%).

The US is already nett energy neutral.
It still imports oil but it has an excess of natural gas.
Gas production is being slowed down by energy companies, because it is on the economic margins.

The US would now be producing a lot more natural gas, if the price was say 10% higher.

A relatively small switch between the current gas and oil usage in the US would mean it was economic to produce more natural gas in the US.

The US needs to use less oil and more natural gas to become completely energy independent.

The US will become a significant nett exporter of energy and the largest producer of energy in the world (overtaking Russia) in the next few years.

The government is actually trying to stop this from happening and keep the US energy dependent on some politically dodgy sources (like Venezuela) by things like stopping more energy exploration in 1.6 million acres of Dakota.

"In the end, more than they wanted freedom, they wanted security. They wanted a comfortable life, and they lost it all -- security, comfort, and freedom. When ... the freedom they wished for was freedom from responsibility, then Athens ceased to be free."