US and Chinese Currency
A recent Zogby poll may surprise many. More than twice as many U.S. adults (58%) say that debt owed to China is a more serious threat to the long-term security and well-being of the U.S than is terrorism from radical Islamic terrorists (27%).
Interestingly there was little variation by party identification with a majority of Democrats, Republicans and independents all agreeing that the debt owed by the United States to China poses the greater threat. Opinion was consistent across all other major demographic and political sub-groups.
Read Full Article- Zogby International.
China has America by the throat.
Chinese military leaders recently suggested, using almost a trillion dollars in loans the U.S. owes China as a economic weapon to cripple America. China need only raise its interest rate on U.S. loans or call its loans to potentially cripple U.S. military defense-budgets and the American economy. A default by U.S. Government on communist loans could destroy U.S. credit ratings and the dollar globally, particularly with oil producing nations. The current Administration’s relentless borrowing and deficit has run the debt ceiling past 14 Trillion. America is in a weak position. China could cutoff U.S. credit—at a time when it strategically benefits the communists. Meanwhile this Congress believes, largely raising taxes is only way U.S. government can pay Beijing’s interests. Stripping Americans of their discretionary income via higher taxes, will causes greater unemployment and defaults on domestic debt. It is apparent the U.S. will soon be usurped economically and militarily if Congress doesn’t stop its relentless borrowing and spending. In contrast, China found it necessary to restrain its economy expanding too fast—globally. After China develops its Asian markets, it may no longer need U.S. purchasers to buy its products; to support its military, THEN WHAT?