China has CANCELED U.S. CREDIT CARD & Increased Military Build up.

peaceandlove · 05-06-2009, 12:22 AM

I've seen this article around and this post by boudica at C4L and her insightful synopsis got my attention.

China has CANCELED U.S. CREDIT CARD & Increased Military Build up.

Posted by boudica on 05/04/09 11:32 PM

Two articles, two warning signs for America's future.

Article 1:

China has 'canceled US credit card': lawmaker

http://www.google.com/hostednews/afp...9kezxnP4jgoGZQ

I think the most chilling paragraphs are these: (Emphasis mine.)

"But Treasury Department data shows that investors in China have sharply curtailed their purchases of bonds in January and February.

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.

Kirk said he was the first member of Congress to tour the Bureau of Public Debt, which trades bonds, and was alarmed at how much debt was being bought by the US Federal Reserve due to absence of foreign investors.

"There will come a time where the lack of Chinese participation may have a significant impact," Kirk said.

"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."

Article Two:

China military build-up seems U.S.-focused: Mullen

http://uk.reuters.com/article/usPoli...BrandChannel=0

Here are the highlights:

China's build-up of sea and air military power funded by a strong economy appears aimed at the United States, the chairman of the U.S. Joint Chiefs of Staff said on Monday.

"They are developing capabilities that are very maritime focused, maritime and air focused, and in many ways, very much focused on us,"

"They seem very focused on the United States Navy and our bases that are in that part of the world."

Well they are probably just prepairing to recover the collateral for their investment. They will want to be first in line when the "bankrupcy proceedings" begin!

But on a hopefull note they are dramaticly increasing their defense spending, so it won't be long before they are in the same boat. Oh maybe 100 years???

"China in March unveiled its official military budget for 2009 of $70.24 billion, the latest in nearly two decades of double-digit rises in declared defense spending."

Source: http://www.campaignforliberty.com/blog.php?view=17527

05-06-2009, 12:22 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	China has CANCELED U.S. CREDIT CARD & Increased Military Build up. I've seen this article around and this post by boudica at C4L and her insightful synopsis got my attention. China has CANCELED U.S. CREDIT CARD & Increased Military Build up. Posted by boudica on 05/04/09 11:32 PM Two articles, two warning signs for America's future. Article 1: China has 'canceled US credit card': lawmaker http://www.google.com/hostednews/afp...9kezxnP4jgoGZQ I think the most chilling paragraphs are these: (Emphasis mine.) "But Treasury Department data shows that investors in China have sharply curtailed their purchases of bonds in January and February. 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. Kirk said he was the first member of Congress to tour the Bureau of Public Debt, which trades bonds, and was alarmed at how much debt was being bought by the US Federal Reserve due to absence of foreign investors. "There will come a time where the lack of Chinese participation may have a significant impact," Kirk said. "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." Article Two: China military build-up seems U.S.-focused: Mullen http://uk.reuters.com/article/usPoli...BrandChannel=0 Here are the highlights: China's build-up of sea and air military power funded by a strong economy appears aimed at the United States, the chairman of the U.S. Joint Chiefs of Staff said on Monday. "They are developing capabilities that are very maritime focused, maritime and air focused, and in many ways, very much focused on us," "They seem very focused on the United States Navy and our bases that are in that part of the world." Well they are probably just prepairing to recover the collateral for their investment. They will want to be first in line when the "bankrupcy proceedings" begin! But on a hopefull note they are dramaticly increasing their defense spending, so it won't be long before they are in the same boat. Oh maybe 100 years??? "China in March unveiled its official military budget for 2009 of $70.24 billion, the latest in nearly two decades of double-digit rises in declared defense spending." Source: http://www.campaignforliberty.com/blog.php?view=17527 Last edited by peaceandlove; 05-06-2009 at 12:26 AM.