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Meet The New Boss – We Guarantee Chinas Assets – Or Else

On Friday, Wen called on the Obama administration to “maintain its good credit, to honor its promises and to guarantee the safety of China’s assets.” (full article)

Tax cheat Timmy Geithner, Helicopter Ben Bernanke and all of Obamas clowns now answer to the Chinese. Actually, so do we. You see in order to finance all the bailouts, stimulus plans, earmarks, wars and other assorted frauds it costs money. The solution for the US up until now has been to simply print more money. Money that wasn’t earned, money that wasn’t saved, money that wasn’t in the Treasury, just paper converted into money via the magical Federal Reserve and instruments known as Treasury Bills, essentially IOUs backed up by the full faith of the US Government (you).

So now we have the folks that bought up these Treasury Bills (IOUs) getting a little antsy about whether they will get paid back and some of these folks don’t play nice. So like any other debt collector they will begin to dictate behavior. The only upside to the situation is that China and other creditors may force Bernanke, Congress and the Administrations hand and tell them to “Hold the Presses”, to quit making magic money. Or else.

March 13, 2009 Posted by | General | 3 Comments