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Jun 10th, 2011 7:48 AM #1
China ratings house says US already defaultingA Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order.
"In our opinion, the United States has already been defaulting," Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.
Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies -- eroding the wealth of creditors including China, Guan said.
Well it begins. The Chinese are getting pissed because we're devaluing them. Once we begin fully defaulting China will start the repossession/foreclosure process with the IMF and and World Bank to start taking parts of the US. They'll probably start with Hawaii.
Jun 10th, 2011 7:59 AM #2
well seems like me and Blue-ray can agree on something.
The Chinese are also getting pissed about the zionist puppet bombing everywhere muslims and oil can be found as uncle sam tries to steel it and so is Russia.
Using inflation to deflate the debt is the oldest trick in the book and it didn't save germany in the 1930's (Hence they hate jewish bankers) didn't save zimbarwi and won't save the USA unless they remove the zionist bankers and deal with politicans on the zionist pay rollAriel Sharon: "We control America"
"Every time we do something you tell me America will do this and will do that . . . I want to tell you something very clear: Don't worry about American pressure on Israel. We, the Jewish people, control America, and the Americans know it."
Jun 19th, 2011 10:57 PM #3
China doesn't care what religion bankers believe-in. That'd be like me calling Chinese economic-spokespeople 'The Chin Dynasty-puppets'..." Take Badlaw's body out to the gold-mine 'n toss it down a shaft. "
Jun 20th, 2011 3:09 AM #4
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Yeah calm down. All it really means is that China will not roll over as many as US treasuries when they mature. The Yuan will rise vis a vis the dollar and the price of consumer goods in the US will also rise as they are made in China. Interest rates will want to rise, but the Federal Reserve will keep monetizing the debt and keep them artificially low, at least on US treasuries. Talk of them doing an operation repo is just silly. We have been steadily devauling the dollar since 1972, the Chinese have always known this day would come. they are just trying to soften the landing. It does them no good to see their foreign reserves plummet in both dollars and dollar denominated debts.
They want out as painlessly as possible on their end as well, talk like this is just their way of signalling their appetite for dollars and dollar denominated debt is satiated.
Jun 20th, 2011 3:36 AM #5
it's not like the chinese currency has risen. the us$ HAS FALLEN - against every currency they do trade with.
the treasury bonds china has invested in may as well be not worth the paper they're printed on as far as they are concerned. they are carrying a major loss on their investment. and i doubt that they are they only ones feeling that way. pretty soon they may not even be the only ones saying it out loud.
Jun 20th, 2011 6:02 AM #6
Jun 20th, 2011 7:17 AM #7
as if it was AUSTRALIA'S idea. we just have a dodgy labour govt which will follow every piss stupid directive of the USA.
Jun 20th, 2011 8:23 AM #8
First of all, of the $14+TRILLION in National Debt, only $9+TRILLION is publicly marketable.
And of that, the vast majority (about 80%) is held by private investors, corporations and trusts, not foreign governments.
I don't where you get your info from, but it's ass backwards.
Your National Debt is owned by the States, specifically the State employee pension plan funds. Oh, how ignorant you people really are. Who was the Big Brain that attacked Tobacco? Yeah, well your State pension plans, and your police and fire pension plans, and your teacher's pension plans, and city and county worker pension plans, and nearly all the union pension plans, and the pension plans of many small and mid-sized business were all heavily invested in Tobacco stocks.
When you allowed the idiots to attack Tobacco with frivolous law suits, they all divested from Tobacco stocks, meaning they dumped their tobacco stocks, and then they took that money and re-invested it. They all bought other stocks with a portion of that money, but many also purchased treasury securities.
When you watch PBS and see that a program was funded in part by the John & Mary Gookingfichenfreakinfuckinheimer Charitable Fund that is a charitable trust worth a few $Billion or few $10s of Billions or a couple $100 Billion and their trust fund portfolio includes stocks as well as treasury securities.
Many foreign corporations and charitable trusts and registered charities own US treasury securities.
The people you drink lattes with at Starsux also have savings bonds and their 401(k) or Roth IRAs and such have some treasury bonds and notes too.
That's who owns your National Debt, not foreign governments.
Secondly, the US does not borrow money from the IMF or World Bank, so they don't have jack shit to say about it. Why is the IMF interested in the US bond ratings? Duh! The IMF "grows" its money by purchasing US treasury securities (usually 1-year bills and short term bonds), which I might point out are securities, not loans.
Those of you who don't understand the difference between a security and a loan need to go back and re-take Remedial Personal Finance and Remedial Economics, and then re-take ECON 101 & ECON 102 and Personal Finance 101 & 102.
Lastly, since there are no deeds or titles related to US treasury securities, nobody will be foreclosing or repossessing anything.
If the US defaults, that is not bad for them, because they will be paid come Hell or High-Water.
It is you all that will suffer.
Originally Posted by StoneSmasher
China has dumped most of their securities anyway. China might have some 1-year bills that are due in April 2012 and maybe some short term bonds.
Originally Posted by tahn1000This White House photograph is made available for publication by news organizations or personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that suggests approval or endorsement of the President, the First Family, or the White House.
Jun 20th, 2011 3:41 PM #9
Jun 20th, 2011 5:56 PM #10
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- Feb 2011
- next to a volcano near a subduction zone fault line by the ocean.
Last edited by Bob; Jun 21st, 2011 at 6:02 AM.
Jun 20th, 2011 7:21 PM #11
I said from the start China were poised to buy your sad country for less than $2. Now it will become reality.America must burn.
Jun 20th, 2011 8:40 PM #12
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- Mar 2011
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