Please everyone try to follow along, there is a point to all of this.
China banks told to halt lending to US banks-SCMP
Wed Sep 24, 2008 9:52pm EDT
http://www.reuters.com/article/marketsNews/idUSPEK16693720080925
Bush: Bail Out Economy, or Face 'Long and Painful Recession' 24 Sept. 2008
http://abcnews.go.com/Politics/Vote2008/Story?id=5879591&page=1
China denies shunning foreign banks
Thu Sep 25, 2008 6:44am EDT
http://www.reuters.com/article/ousiv/idUSTRE48O2PZ20080925
China posts fake rocket launch story: September 26, 2008
http://www.news.com.au/dailytelegraph/story/0,22049,24406028-5006003,00.html?from=public_rss
What do these stories have in common?
Here is a post I came across, I thought this was pretty compelling, which ties the above news together:
Good! I hope China does not lend the US any more money. I am disgusted the US government sold the United States out to China for greed, bribes, personal wealth. Seduced by the dragon.
Fannie Mae and Freddie Mac “wove a mantle of invincibility” through lobbying according to a September 8 Wall Street Journal “Deal Journal” blog post. According to the Journal’s Heidi N. Moore, the mortgage giants had $170 million in lobbying bills in the past decade and spent $3.5 million on lobbying just in this year’s first quarter, spreading their largesse among 42 outside lobbying firms. Their lobbying successfully deregulated the markets enough for the elite to become extremely rich, at the cost of our economy. Our greed within our government and corporations alike has destroyed us.
The strategic intention of China to silently gain control of the US via its financial system has worked. China owns us, our debt. That is leverage. Our politicians (Clintons, are big ones), were selling the US out to the communists taking bribes, lobbying money for pro China bills, by China's proxy agents embedded in our society, our country has become pimped out. Pimped by those we gave control over OUR purse strings. I hope this countries economic system crashes (IT WILL), I hope it all goes down. May be then we will all wake up to the realization that we all have veered so far from the framers intentions of the constitution and now have become subject to a socialist state where our own government owns the financial markets and we, our children, and their children will be forever enslaved in debt owed to China.
I know Bill and Hill are not the only ones to blame. They did have more media attention by schmoozing with China, and signed in the biggest declassification of our secrets. The Clinton administration had reset long-standing policies relating to technology transfers. By March of 1994, the administration had abolished the COCOM system that had safeguarded technology transfers from Western countries to East Bloc or communist nations; Clinton gave control of the Panama Canal to China; On March 23, 1998, The Washington Times revealed a secret Clinton Administration proposal to sell advanced missile technology to China; Under Clinton, 47 supercomputers have been sold to China, most for use by the Red Army; in early 1997, with news that a Justice Department investigation had uncovered evidence that agents of China sought to direct contributions to the Democratic National Committee (DNC) in violation of U.S. laws regarding foreign political contributions. While the Chinese government denied all accusations, twenty-two people were eventually convicted for fraud or for funneling Asian funds into the United States elections, specifically the Clinton Campaign. This goes on and on...
The US congress, in August 2008, was considering imposing sanctions on China to force a yuan revaluation, alleging China was manipulating its currency. Two officials at leading Communist Party bodies have given interviews in warning that Beijing may use its $1.33 trillion of foreign reserves (US Debt)as a political weapon to counter pressure from the US Congress. Described as China's "nuclear option" in the state media, such action could trigger a dollar crash at a time when the US currency is already breaking down through historic support levels.
It would also cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession. It is estimated that China holds over $900 billion in a mix of US bonds. $900. billion is pretty close to the $700.00 billion "bail out" in the news. I wonder if this "nuclear option" has indeed been exercised by China.
Even Hillary during her campaign stated that foreign control over 44% (now about 50%) of the US national debt had left America acutely vulnerable.
Henry Paulson, the US Treasury Secretary, said any such sanctions by congress would undermine American authority and "could trigger a global cycle of protectionist legislation". Yes, because we would have to insulate our now globalized corporations and financial markets which are buried deep in debt to China.
Mr Paulson is a "China expert" from his days as head of Goldman Sachs. Goldman Sachs has a very large stake in China, with offices and major investments in China. We all know Goldman Sachs is on the bail out list. Even billionaire Warren Buffet dumped 5 billion into Goldman Sachs. Buffet does not invest in something unless he knows he will make money.
While the US sells out its banks and corporations to China, China protects its homeland interests. Foreign firms are restricted to owning 33 percent of an investment-banking venture and 20 percent of a brokerage. China closed the window on future partnerships by barring any more overseas firms from buying domestic brokerages.
To the "now retracted" statement that China will no longer lend money to US banks... Yeah, right. Just like A news story describing a successful launch of China's long-awaited space mission and including detailed dialogue between astronauts launched on the Internet Thursday 9/25/08, hours before the rocket had even left the ground.
You will see a bail out, I'm sure. I believe China is the main reason there will be a bail out. This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters. The bail out will not benefit homeowners or help average citizens improve their standing for a home mortgage. It’s not bailing out the homeowners who are in trouble; It’s not bailing out people who want a mortgage; it’s just bailing out financial institutions. This is not my idea of the way things are supposed to be, but if that’s what America wants, you know, it can elect people who are going to do it.
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As soon as Bush came on the air to tell us that we need to bail out the financial crisis. China then denies releasing that statement... Coincidence?
When China holds our credit purse strings that we need to borrow about 3 billion a day to support our foreign policies... I dont think so!
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