Uh-oh – China says they may be done with the U.S. Dollar.
Posted by the912project on March 24, 2009 · 340 Comments
Is anyone surprised by this?
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340 Responses to “Uh-oh – China says they may be done with the U.S. Dollar.”The Restoring Honor Rally August 28, 2010
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What a bunch of crap from the United States and Japan….Both made big noise about shooting down N Korea's rocket launch…Neither did a damn thing. United states claims the launch was unsuccessful and the satellite didn't go into space and obit. N Korea claims it did. United States has not been too creditable when it comes to covert information in the last few years.
I do not think we should be surprised by this at all. This is simply out lender saying that we are no longer "good for it", and can't have any more money. And yet out government insists that we still need to have the "big screen TV" and "luxury car" we were promised.
We need to continue our call for Congress to stop the spending. Some are starting to listen, but we need more to do the same. The new era of responsibility needs to start in Washington, not Main Street. We've all tightened our belts, now it's Washington's turn.
Countries around the world are telling us to stop. Now STOP.
I do not think we should be surprised by this at all. This is simply out lender saying that we are no longer "good for it", and can't have any more money. And yet out governmetn insists that we still need to have the "big screen TV" and "luxury car" we were promised.
We need to continue our call for Congress to stop the spending. Some are starting to listen, but we need more to do the same. The new era of responsibility needs to start in Washington, not Main Street. We've all tightened our belts, now it's Washington's turn.
Countries around the world are telling us to stop. Now STOP.
I wonder if our treasury secretary know what OUR GREAT SEAL means on our $1 bill?
<a href=”http://www.geocities.com/jimbo48.geo/Appendix/app…” target=”_blank”>http://www.geocities.com/jimbo48.geo/Appendix/app…
During this time leading up to Memorial Day, and afterwards you can remember this for July 4th and New Years, I thought you might like this information. My name is Jim
Take out of your wallet, or go find a $1 bill. Put it if front of you so that the Great Seal is facing you. During these times of mass confusion around the world, use this to remind yourself that God is in control.
You're right, but what is our identity? We have have lost so much respect in this world, no ones wants to trust us and who can blame them, When the rest of the world is watching our politicians being such MORONS and WIMPS. It makes me sick to see or hear the Washington Deceievers telling some naive folks that everything is gonna be alright, Americans better wake up and see what is happening to our country. Some of our big manufactoring giants left this country because of GREED and the LABOR UNIONS drove some others away. Let's trash can NAFTA and get our job's back from foreign countries. Break the back of Organized Labor because their time and need has come and gone, it's only their greed that they're interested in. We have lost and are still loosing so much ingenuity and manufactoring knowledge until it's scary.
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HEY EVERYONE IN THIS ROOM KEY MY NAME LOOK FOR INCOME TAX 1 thru 10 i only got to 6 DO THE COINS THEN TRY N PROVE ME WRONG OUR SOVEREIGNTY IS AT RISK !!!!!!!!!!! THIS IS NOT A JOKE !!!!!! I REALLY HOPE SOMEONE IS ABLE TO PROVE AND I DO MEAN PROVE ME WRONG !!!!!!
I completely agree. America needs to make things on our shores again. The whole wall street scheme seems like the biggest scam in history. Only making money for the people in Wall street on the backs of working Americans. The big turn around happens when America once again makes things people want to buy… Actual THINGS…. not bundled assets which have value only on paper.
Lafayette912, I think that PBHO is holding back on the mark-to-market rule – if his policies don't work, which from my understanding they won't, he can fall back onto this,,,, let's say somewhere around the next presidential election cycle ???? In 1938 FDR did this, he adjusted the rule, some believe that this is what turned the economy around and led the way out of the depression. Some say WWII ended the depression but I am not sold on that thinking. As we are doing now, the are efforts on many fronts to correct the markets and return to stability and slow growth, FDR -same thing- what actually worked who knows. But from my understanding the main problem with the markets now is credit – If the lending institutions had access to more $$'s on their balance sheets credit would flow again. I am not an economist – just a hard working slug trying to make sense of where my retirement dreams went.
well, I kinda agree that Obama is holding onto the mark-to-market rule as a last-ditch effort to turn things around. Perhaps, after he gets what he wants. Most people would not know what mark-to-market was, and would only see the big turn around as proof that Obama was right all along. In the day since that last post, I watched, The Obama Deception…. http://video.google.com/videoplay?docid=788678071... And if you get bast all the tin-foil-hat stuff, it makes you wonder. It REALLY makes me wonder why we have Wall Street people in power in Washington, bailing out wall street for the problems they created…. all with taxpayer money. Getting more in debt is just not the answer. You and I working slugs ARE the answer and the ingenuity of the American worker is who will pull us out. Wall street is only in it for themselves and not for us.
I love trees-in fact I can hardly bear to even trim my trees-but I'm just saying that we have to worry about people and people's jobs more than this MADE UP global warming. All of these so-called enviromentalist are getting filthy rich exploiting the PROPAGANDA. It's all a lie. Gore is a liar and fraud-he is the biggest polluter around.
You are so right about that. If the DEMONCRATS would worry more about the people than the animals and enviroment we could get our economy moving again-what a bunch of fools.
Blocking the view to Juarez would probably be a blessing. I hope you get the project out there so there will be a few more jobs. Lord knows we need more business and jobs-even if they are green jobs-whatever that means. But I am sick and tired of worrying about the enviroment and not the people. All of these PC people make me sick.
I think today I've gotten to the point to where I am purchasing a nice big roll of duct tape to hold my head together!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! LOL to Glen Beck
How in the heck can one pres totally destroy a country in such a short period of time?!!!!!!!!!!!!!!!!!
Granted it was in trouble before he took office but not like this!
Because it' not just a President doing this, there are thousands of people behind the scenes and more powerful than he is doing all this.
Yes, and God forbid, we cut down a tree! Save a tree, loose a job! My hubby is on shaky ground at best, w/ his job as a log truck driver right now! Ask Obama, or Mansion, if they…will find him another job to replace this one. Many hard working WV men, are on shaky ground w/ their jobs dealing w/ the lumber industry. Many of our lumber yards around here are closing down completely, or just going to such low hours, that it would never feed a family. What is a person to do? Pray, we are already there, on that one…move? Are there other…lumber/logging/truck driving jobs out there…So many are w/ out work, or are on the verge. Help out AIG, but…what about the hard working "common" mans job…who will go to bat…for him?? a WV wife…who is praying for help.
WV wife-I am so sorry to hear this. These enviromentalist are so crazy. I know that when logging companies cut trees they plant new ones-I don't see the problem for these loons. I am so concerned for all of us. I am a kitchen designer and so many of my clients prefer the wood cabinets and so we need to cut down trees to build them. You and your family will be in my prayers.
These people in Washington, DC are all just plain crazy. I miss Bush/Cheney at least they weren't attacking business-only the terrorist.
Amen, and Oh how true! Most don't realize it, but, all of our problems, moral, economic what ever, can be linked back to a value less society! Take out all that is good, and pure, and see where the Nation will go. Garbage in, garbage out. The "fool" has said in his heart, No God. But, Our redemption truly draweth nigh. Whereby all mankind…will soon find out. Blessings, lets all do we can to promote what good we can, to try to keep what "glimmers of good" we can…burning in our Nation, and fight for the right. God bless you..and the USA!
Let us not confuse two separate issues, just because the European's want to have a One World Currency does not mean China will play ball. Although, China wants this too, coming to an agreement with The West, regarding how the currency is regulated remains to be seen, as possible. The problem is not the creation of a World currency, but rather the destruction of the World’s unofficial currency (The Dollar). China is going to operate in what China PERCEIVES is in their economic interest! The danger is not an official new world currency (although, it may happen), but rather what currency will replace the US Dollar as the World’s unofficial currency. Therefore, I think it is more likely their going to replace their cash reserves of US Dollars with what China PERCEIVES is the World’s most stable currency. And the most sobering thought of all is: “We the People” are screaming as loud as we can; “DON’T DESTROY THE DOLLAR!”, but are leaders in the arrogance IGNORE US. So, I’m LESS interested in knowing what the Secretary of State said to the Chinese. What did the Chinese communicated to the US, and specifically, was it IGNORED or considered.
Do I need to say more?
Circulate this peace of info?Thomas Jefferson once said:
"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." — Thomas Jefferson — The Debate Over The Recharter Of The Bank Bill, (1809)
Now we know what happens when citizens disregard the words of the Founders, ignore bribery in the government, and allow Corporations, including financial institutions, to displace the public's interests. Welcome to the "Free World."
HOW are we not going to "not take it". You have to withhold something they really want, and do it peacefully. How do they have power over us, that is what they want most.
I continue to try and get my children to follow what is going on in Washington. It is their future, and many just don't get it. When minimum wage goes up 5% or 10%, and the cost of bread goes up 15%, they will start to think about why it is happening to them, and why their checks are getting smaller. The dollar will take a nose dive. I guess you could call that "CHANGE".
WELL SAID!! GOD BLESS YOU
I AM IN. I LIVE IN SAINT CHARLES MISSOURI OF THE UNITED STATES OF AMERICA AND ANYBODY ELSE THAT IS IN SHOULD SAY THEY ARE AND WHERE THEY ARE FROM. WE HAVE TO DO SOMETHING. IT HAS TO BE FROM THE AMERICAN PEOPLE. I LOVE MY COUNTRY AND THEY ARE RUINING MY COUNTRY AND IT IS PISSING ME OFF.
You know if you started thinking more about being an AMERICAN instead of loving Obama or Bush maybe you would get the bigger picture. You suck as an American. You should be ashamed of yourself.
Because the constitution and freedoms do not make them money or give them power
I think diversity is a silly concept. No nation can be strong without an identity or a single driving force that makes it whole. There are countries all over the globe that are being destroyed in the name of diversity. China IS a very diverse place but holds on to and is very proud of it's culture as a whole. I think that's why they are such a threat. We've lost something. That's what's so great about this site, it's an effort to remind us of our culture, to kill the petty bickering, to help people realize that it is our original philosophy that makes us great.
Why are liberals so concerned about saving the planet but have very little concern about preserving our constitutional freedoms?
Great question! I have been asking myself the same thing as well. I used to think liberals were about freedom, independence, personal responsibility, our Rights as Americans, common sense, God and kindness..well I finally figured out it is just extreme ideology and pretzel logic and don't forget PC.
Great conversation piece for a dinner party of Conservs and Libs.
As an aside, in case you are interested, the Iraq war began shortly after Saddam Hussein announced his intention to begin trading Iraq's oil for euros instead of dollars. A little known fact, but perhaps one of the primary reasons for the Iraq war.
This is just more Beck fear-mongering. China isn't going to abandon the U.S. dollar. All these countries are just posturing. We still have the greatest economic powerhouse in the history of the world. None of these countries can compete with us, and they're not going to do anything to alienate us out of fear that it will come back to bite them in the rear when our economy inevitably turns around.
By the way, Glenn is wrong when he says that the current U.S. dollar is not backed by anything. True, we went off the gold standard in 1972, but today our currency is backed by something more valuable than gold… OIL. Right now, the U.S. dollar is the only unit of currency with which foreign countries can purchase oil. This is why foreign countries will always have greenbacks in their banks. We don't need to worry about Chinese posturing. We'll need to start worrying if Saudi Arabia and the rest of OPEC decide to start trading oil for the euro or some other currency. As long as countries need oil, the U.S. dollar will have value.
Behold, the "Kings of the East."
Sex is a dead end thing? You should be glad your parents didn't feel that way.
A "Coat of Arms" of a family or a nation is never taken lightly. Much thought is given to the design and every detail is considered at length; the rich traditions of the past, the hopes of the future, ancestry, and Faith. All these things and more, play a part in its design. The Great Seal of the United States is no exception. Its emblazoned facts bristle with symbolic significance. Symbolism in not only natural and general, but Christ Himself taught by symbols – to quote the Scriptures, "…without a parable (or symbol) spoke He not to them."
Our ancestors chose emblems for our Coat of Arms that were natural and of immediate significance to them, as well as their hopes for the future. They envisioned a "New World Order" based on the principles of Christian brotherhood, where all people have equal rights to, "life, liberty, and the pursuit of happiness." They planned well and wisely and were undoubtedly influenced to no small degree (whether they knew it or not) by the All-wise, overruling Divine Providence.
The Great Seal of the United States of America is the symbol of our Nation's Independence. Its design constitutes our National Arms. As the National Arms, the Seal states symbolically the principles which animated the founders of our Republic. Today those principles are being forgotten. Because they have been neglected, America is fast losing sight of the two greatest forces that motivated our Founding Fathers – Christianity and Patriotism. From these two principles sprang our national constitutional laws, freedom of speech and worship, equality and fraternity.
Without Christianity and Patriotism, America can lose her place of leadership in the family of nations – perhaps, even her freedom. To avert that danger, we must go back to the fundamentals of true Americanism, clearly set forth in the symbolism of the Great Seal of the United States. America has a Destiny and to fully understand this Destiny one must recognize that our nation and its armorial insignia were not evolved by chance.
See through dollars with B.O.'s Picture on them? Just kidding. I agree… quite a startling thought Old Bob had there.
You must hug a tree to hang a tree stand. As an outdoorsman I fully support any measure to reduce fossil fuel comsumption, prospecting, retrieveal etc.
Would you support a tax credit for any home or business that installed solar roofing shingles?
I think the theme song for our movement should be "We're Not Gonna Take It" by Twisted Sister! Read the lyrics….it totally fits. If there is a march on DC, this song should be blasted as loud as possible.
Reckon I'd rather commiserate with a loony tree hugger than a blackshirt hair helmet getting getting off his helicopter to ask me why I haven't drank my KoolAid yet.
Tough times call for touch choices don't they? I agree.
I haul train loads of coal. Without coal, many thousands of middle class jobs will be gone.
Nope. I just look for places where they're about to be destroyed before site excavation and dig up some of the young ones, then replant them someplace else. Kind of a hobby.
Chad. I sympathize with you. But you have to visualize what you are up against and it isn't just Obama and Congress. Besides, if you went to Washington and banged on the doors, what would you say? Remember, the objective is to get action. The objective is to get them to cease and desist certain heinous practices and policies and to get them to do other things we want. Just marching on Washington will not do this. they are very skilled at saying things that appease. We have to be very clear at articulating what we want and demonstrating the power to withhold something they want very badly. There has to be more strategy to it.
This strategy has to include withholding something they want from us. Aside from taxes, I am not sure what that is, but we must figure that out. They definitely want control of us. They want us to stay in our little houses and pay our payroll taxes and keep us from influencing their decisions to start taking over every important company to the economy, starting with all the top financial institutions. They already have control of the Fed.
We have to figure out what they want most from us, and a way to demonstrate that they will not get it any more. Note just our votes, that's targeting the wrong enemy. Not just our taxes, that is not what they really want I don't think. It is something else.
What do you all think whomever is behind all of this wants from us most?????
Out here in El Paso they're going to tear down the old copper smelter. There's talk about putting solar panels on the site. They'd be between I-10 and Juarez. No mice to threaten and you CANNOT mess up the view of Juarez so it might happen. Then again this is El Paso…
Are you serious, the governments just using this to take control don't let them brainwash you like that open your eyes were not hate mongers were realists.
Most of this started when we allowed prayer and bible reading to be taken out of our schools, seems as if we have no morales, or the will to do the right thing. Hollywood hasn't helped anything in this country, drugs are destroying our youth and adults as well, The Drug Cartells on our southern border, it's all been planned by "Let's get the drugs to America so we can keep them stoned out of their minds and weaken their resistance. It's not just Mexico that 's pushing all this junk, the terrorist country's are at the top of the list. Greed has overtaken us and we sold out to NAFTA and Organized Labor has murdered us all. Our new administration surely does march to the beat of a different drummer!!!! I Love our STARS & STRIPES but I feel that a Red Cresent will soon be hoisted up the flag pole. Our children and grandchildren are the one's that's about to suffer. The Atheist thinks there is no GOD!!, we are about to find out.
So China and Russia (and probably the rest of the world) are all calling for a new global currency controlled by the International Monetary Fund.
Why? Because the dollar has become completely unreliable.
Why? Because we keep printing trillions of dollars out of thin air.
Why? Because Timothy Geithner says it's the only way to save our economy.
And what previous experience does Timothy Geithner have that makes him qualified to say this? Among other things, he used to work as director of the Policy Development and Review Department at the International Monetary Fund, the very organization that would control this new currency should everyone dump the dollar.
I'm not prone to conspiracy theories, but I can't be the only one who finds this more than a little troubling.
It may not matter whether or not the Chinese *want* to buy US debt. Before long the markets will be flooded with debt as everyone tries to bail themselves out. I know the Germans have said no to more stimulus spending but there are an awful lot of others in Europe who may not have so much determination, it remains to be seen of course if even the Germans will stick to their guns. And the shakier we look the more of our debt will be sold. As the largest debtor nation I think just our outstanding debt is enough flood the market. Once the market is flooded we won't be able to borrow at all which means we have to print more, which makes us more of a risk, which makes holders of our debt put more debt on the market, so on and so forth. We need to freeze spending, pay off all our outstanding debt, fund only the functions required by the Constitution. Yes it will hurt, but the longer we try to put off the pain, the more it's going to hurt when it does hit us.
The only "out" for the Chinese is to buy any debt that hits the market in the hope they can prop up the price long enough that we come to our senses.
Required reading and something for everyone's tool box here>>
You will see the root of this problem in the following US history page>>
http://www.juntosociety.com/patriotism/inytg.html
Ha, I love it. How about we sell all the states that want to head toward communism anyway, and we'll keep the rest. I'm sure Bo will get some honorary title, like Jr. Chief Comrade!
Of course China's done with our dollar why would'nt they be its damn near worthless why would the keep lending us us money there is no way we can ever pay them back. Unless you listen to Obama saying the dollars value is just fine that guy can't ever answer a straight question, did you hear him when he was asked if he would sign a bill without middle class tax cuts and cap and trades he danced around it blah blah blah it better have this and that but never said yes or no. To me that was a yes I will sign a bill without those and we want more control of other buisinesses. This government is taking control of everything and their not even trying to hide it,GOD help us all.
We need to stop this government and we need to do it soon, we need to keep this fight up and keep fighting hard
I agree with you one hundred percent. We need to have a march on Washington. Letters are easy to ignore.
Amen!!
you are right, and i fear china. I was attending an upper level engineering school here in America. I was on the same tier as the American students, but from an intelligence stand point, we were nothing compared to the foreign students from China (on full scholarships I might add). They are becoming much more intelligent than us each year. They can easily wipe us out at their will. They own our economy. What is produced here anymore? And yes, their work ethic is far better than the average Americans. Social welfare has made this country as lazy as Europe. The only technological advances coming from them was that large hadron collider (which they broke in like 2 weeks). If we are to retake our throne, we must first end social welfare. Reform education. No more easy school. In Germany, I have heard it is essay-only once you hit 6th grade for exams. And the most important step is to start producing all our goods here! Without us, China's economy wouldn't exist. I am in support of a tariff from them. our trade deficit needs fixed.
Much agreement here with your desire to "reform" education. But it's American Universities which are sought, both for their accessibility as well as their programs. Who subsidizes the college education of Chinese students to which you refer? Who subsidizes the majority of higher education for any Chinese students? Might it be their government? Not that I would wish to live in a Chinese "socialist" dream, mind you, but as with health care in this country, college education is becoming less and less affordable for most Americans, while our bureaucracies become ever more cumbersome and more like China's . . . but under a different name.
As an American, I'd just as soon dispense with any references to retaking a "throne," but I get your point. As it is, I believe that our secondary schools are filled with quite a number of unmotivated students who should be taught rudimentary survival skills and a trade; academic training beyond the eight grade should be earned through examination; college education for those who pass should be free-of-charge to the student; and the government should enact FAIR trade tarriffs in order to preserve a viable manufacturing sector of the economy which will in turn encourage engineering development and innovation.
Hopefully, ultraextremists (religious or ideological) won't drag the world off a cliff before this program is enacted…
already have…haven't you seen all the commercials that are selling gold coins with BO on them? YUK! PUKE!
Yes, I am sure there are many regretting it too, but it is more than just BO's administration taking us down. Congress (both parties) needs to be blamed as much–maybe more. The president can't really get things down without the support of congress where the purse strings are really held. I can't even listen or look at the TV when Obummer, Pelosi, Dodd, Frank, Schummer, O'Biden—well just too many to name–without wanting to shoot the TV!
If you want some insight to the impact of government policy and debt on a national currency, please read through the article at http://www.brazilbrazil.com/inflat.html Could this happen to our US greenback? It will depend on actions taken by countries holding our greenbacks and debt, and if they want gold bars instead of our greenback paper. Worse case scenerio is the run on George Bailey's Building and Loan Association in the moive "It's a Wonderful Life". I sincerely hope President Obama and the Democrats (and some Republicans) stop re-engineering the US into a socialist country and stop spending dollars on social programs that my great great great gandchildren will pay the interest $$, let alone any principal reduction, to the Chinese and other US debt holders. If the Chinese and others demand payment in full (gold bars, real property, etc), we will have several unpleasant options – sign over the US to the Chinese/others, or tell them to go pound sand… All are ugly consequences that will end badly for every US citizen.
For those of us with family and friends who have not yet accepted Christ as their Savior, it is worrisome too. I can't wait for the rapture, but I am sad at the thought of my family members who will have to struggle through what comes next. I have been buying books that talk about the end times and being a believer during the Tribulation….it is really scarey and I know I sure would not have to go through. I am going to start writing notes and memo to place in the books and send them to my family and friends so that they will have some guides and information because during those 7 years there will be great lies about what is happening and they need to know NOT to take the mark of the beast or their fate for eternity will be sealed. We are to watch and wait, but we need to keep working at what is right and good and praying for those who have not yet seen the truth in His Word. It's just incredible how swiftly we are now moving to the end days….so much prophesy being fulfilled!
You know foks I'm just a hillbillie from Ky.and I will tell you what i have seen. I work in the plumbing field and people have been steeling copper out of empty houses and selling it in the scrap yards. and it is all going to you gessed it China.the year or 2 before that it was US steel now we hear this week it is brass from spent rounds .all the American peoples natural resources going to China is our government treating america like it is in a going out of busnes sale like curcit city
Stealing cooper! OMG that happened to our house in NY last winter. Get this Liberty. We lost this house to a flood in 06 its been sitting there ever since as we were trying to fix it and sell it. Well we walk in there one day and they had broken in this house and stole all the cooper plumbing!!! thousands of dollars of damage they did! Talk about kicking a family when they are already down on their luck. We know it was a local person who did it and its a small town and every knows its a soldiers house to boot. Nice huh. yes the house is still sitting there and yes we are still paying the mortgage and taxes on that mess. Got to love it. By the way folks FEMA does NOT rebuild your house for you in fact they left us homeless and Hillary NY's so called darling at the time did nothing for any of us here in the catskills when that flood wiped us out.
Buddy I feel for you and the family. God bless you guys.And thank you for serving.with the FEMA and no help from our public servents no wonder Middle america is bitter. where paying down to help the poor where paying up to bail out Wall Street and the Banks and paying way to much in taxes.just to be told we are stupid and dont know what america needs.
Yea but you got the loony tree huggers that would stop that.
He is absolutely right. We have got to stop these people.