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China

Sanders
post Aug 10 2007, 08:36 AM
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I'm no expert on any of this, but this is so tied in to what is happening - both financially and geo-politically. Moderating factors include:

*China holds nearly a trillion in Fed Notes. They loan the US 3 billion a day (to the best of my knowlege - they buy treasury notes as I understand it), which helps finance the deficit, in other words, keeps the US government and military operating even though they don't have enough money.

*China also leads the Shanghai Cooperation Organization, a group comprised of China, Russia, India and some other Central Asian oil and gas producing countries. The unofficial purpose of the group is to counter US influence in Asia. China is hard up for oil and gas to fuel it's current double-digit growth. Iran has observer status in this group by the way, and a few months ago China and Iran began doing their oil trading in Euros instead of dollars.

*The US supports an independent Taiwan, and China surely knows that the neocons have hinted that they would like to see regime change in China.

*China's massive US Dollar reserves gives them great political clout over the US, yet they wouldn't want to see the value of these reserves evaporate. If they contribute to a US market crash by selling off notes, they could trigger a crash of the dollar making their own investments drop in value. A dicey situation to be in. Yet, if the dollar is going to crash anyway, they would be smart to get rid of those notes.

*The US will be hard pressed to expand the war into Iran without continued Chinese investment.

(That's my understanding of the situation, anyone please feel free to correct me if I am off or my info is outdated on any of this. )

So you see, both China and the US are in a delicate predicament...

Then, we have this:

China dollar attack would be 'foolhardy' : Bush
Yahoo News
Thursday August 9, 2007

http://nz.news.yahoo.com/070809/8/15wj.html

According to the article, Zhang Ming, an economist with the top Chinese Academy of Social Sciences, made this remark after Bush's comments:

"As long as there are no big upheavals in the American economy and there is no serious dispute between China and the United States, the Chinese government will not sell off US dollar assets in any major amounts".

Key words being, "As long as there are no big upheavals in the American economy" ... and, "major amounts".

whistle.gif

Can you imagine, with all the chaos developing from the sub-prime failures, if China starts dumping it's US dollars?

Which begs the question: If you and I can more or less figure this out, then the people really in charge must understand all of this thoroughly. What are they thinking? Are non-US financiers hoping for an end to US hegemony? Does the US think it can black-mail the Chinese into continuing to finance it's flawed policies at a loss with the threat of force? Maybe just long enough to institute the Amero, borrow some solvency from the Canadian Dollar and the Peso, stick it to the Chinese as they evaluate a new currency and everyone starts over? Or are the powers that be all fools and didn't see this coming?
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StevenDC
post Aug 10 2007, 08:46 AM
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Sanders, to add some thought of what the inside people are thinking about the 1.3T USD held over our stupid greedy consuming heads, I posted this once before, worthy of noting again. China just completed this bunker last year. Protection from whom?

http://www.timesonline.co.uk/tol/news/worl...ticle695067.ece

July 31, 2006

China builds vast bunker complex 'in case of attack'

From Jane Macartney in Beijing
THE rest of the world hums with word of the rise of China and its increasing military might. China, however, is clearly concerned about its defences.
In the modern metropolis of Shanghai, construction has been completed on an underground bunker that can accommodate up to 200,000 people.

Its builders could have had the words of Chairman Mao in mind. At the height of the 1966-76 Cultural Revolution, he said: “Dig deep tunnels, store piles of grain. Prepare for war, prepare food for the people.”

The bunker in Shanghai was built to shelter people in case of explosions, emissions of poisonous gas or nuclear radiation. State-run media gave no clue as to the source of such possible attacks. Nor did it explain how a complex covering 90,000sq m (968,400sq ft), could have been constructed in total secrecy.

The report yesterday was the first word about it. The underground haven has 15 passages nearly 2.5 miles (4km) in length that link to office towers and residential apartments. It is also connected to the subway system, enabling people to flee from one district to another. It was not clear where the rest of the city’s 17.78 million residents would take refuge.

Water, power and ventilation systems can support the bunker’s population for between seven and fifteen days. In times of peace, some parts can be used as garages, warehouses or commercial facilities.

Officials stopped short of revealing the exact location of the bunker in the bowels of a city renowned for its futuristic buildings and role as the financial heart of China.

It was already known that Shanghai had at least one underground bunker, a small concrete facility built for Mao in case of need during his visits to the city.

The bunker cannot compete in scale with the estimated 19 miles of air-raid shelters dug underneath Beijing in the 1960s and 1970s. The capital’s “Underground Great Wall” featured a munitions warehouse, hospital, theatre and library and was believed to have a capacity of up to 300,000. It has now been transformed into a tourist complex with bars and dance halls.
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Sanders
post Aug 10 2007, 08:56 AM
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Hmmmm
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lunk
post Aug 11 2007, 06:04 PM
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I like Chinese.
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Sanders
post Sep 6 2007, 03:57 AM
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Is China quietly dumping US Treasuries?
By Ambrose Evans-Pritchard
Telegraph, 06/09/2007
http://www.telegraph.co.uk/money/main.jhtm...bcnchina105.xml

QUOTE
A sharp drop in foreign holdings of US Treasury bonds over the last five weeks has raised concerns that China is quietly withdrawing its funds from the United States, leaving the dollar increasingly vulnerable...

"We won't know if China is behind this until the Treasury releases its TIC data in November, but what it does show is that world central banks are in a hurry to get out of the US. They don't seem to be switching into other currencies, so it is possible they are moving into gold instead. Gold is now gaining momentum across all currencies and has broken through resistance at 500 euros," he said.
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