China warns U.S. debt-default idea is "playing with fire"

[doodle]

I apologize in case this has been posted/discussed already:

China warns U.S. debt-default idea is "playing with fire"

By Emily Kaiser Emily Kaiser – Wed Jun 8, 7:55 am ET

SINGAPORE (Reuters) – Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday.

The idea of a technical default -- essentially delaying interest payments for a few days -- has gained backing from a growing number of mainstream Republicans who see it as a price worth paying if it forces the White House to slash spending, Reuters reported on Tuesday.

But any form of default could destabilize the global economy and sour already tense relations with big U.S. creditors such as China, government officials and investors warn.

http://news.yahoo.com/s/nm/us_usa_debt_bondholders

[FrankRep]

China: You owe us money, don't default.

[jrskblx125]

China owns our $#@! lol

[QueenB4Liberty]

Well duh. SO of course that means it can't happen.

[HOLLYWOOD]

China: You owe us money, don't default.

NO, it's... "Get your economy/country in order so you'll buy our stuff or we'll dump all our US Bonds and Treasuries held and destroy your currency.

China, "We still have Europe, Asia, Africa, and South America if you clowns want to play games."

[doodle]

China: You owe us money, don't default.

China: You owe us money, don't default.
US: Watch it, we have the strongest military kill machine in the world
China: You watch it, if we shutdown all our exports, your economy will collapse. Stop spending like drunk sailors
US: We have to spend to stimulate economy and to fund freedom wars in 6 plus countries, TSA and other programs
China: Whatever, don't even think of defaulting.. we have strong internet invasion army
US: Oh..

[Grubb556]

Isn't the Chinese currency based on USA currency ?

[acptulsa]

What was that old, obsolete phrase? 'Backed by the full credit and faith of the United States of America,' if I remember correctly. I remember when Republicans actually valued that concept...

[DamianTV]

The World is now owned by Creditors.

Those would be Creditors are the very same Banks that printed up the money you used to acquire your belongings to begin with. Its not just the dollar. Every form of Currency now represents some elses debt to someone else. The mere fact that it has not been repaid is what puts that Currency (whatever its form, Dollar Bill, Paycheck, or Digital) in your hands to begin with. But, that fiat paper money has a string attached to it. An invisible string that most people can't see. Like a fish that finds a worm often doesn't pay attention to the fish hook and fishing line that it is attached to. The fact that the fiat currency even exists means that it has to be repaid at some point. And now the Banks are reeling in their catch. They caught you, and everything that anyone used their Fiat Currency for. They own everything. And all it took was for them to back real money with nothing.

The Banks now own everything. If we do not remove the power of the Banks to create Currency backed by nothing, it doesn't matter what we do. If we take it all back right now by force, and leave them with the power to sign money into existence, they will just buy it all back from us again, and again, and again. This cycle is what enslaves nearly every human being on the planet to a small group of dominant men who want nothing more than to control everything in existence. The cycle must be broken.

[ssantoro]

The World is now owned by Creditors.

Those would be Creditors are the very same Banks that printed up the money you used to acquire your belongings to begin with. Its not just the dollar. Every form of Currency now represents some elses debt to someone else. The mere fact that it has not been repaid is what puts that Currency (whatever its form, Dollar Bill, Paycheck, or Digital) in your hands to begin with. But, that fiat paper money has a string attached to it. An invisible string that most people can't see. Like a fish that finds a worm often doesn't pay attention to the fish hook and fishing line that it is attached to. The fact that the fiat currency even exists means that it has to be repaid at some point. And now the Banks are reeling in their catch. They caught you, and everything that anyone used their Fiat Currency for. They own everything. And all it took was for them to back real money with nothing.

The Banks now own everything. If we do not remove the power of the Banks to create Currency backed by nothing, it doesn't matter what we do. If we take it all back right now by force, and leave them with the power to sign money into existence, they will just buy it all back from us again, and again, and again. This cycle is what enslaves nearly every human being on the planet to a small group of dominant men who want nothing more than to control everything in existence. The cycle must be broken.

Well put!
+rep

[Travlyr]

The World is now owned by Creditors.

Those would be Creditors are the very same Banks that printed up the money you used to acquire your belongings to begin with. Its not just the dollar. Every form of Currency now represents some elses debt to someone else. The mere fact that it has not been repaid is what puts that Currency (whatever its form, Dollar Bill, Paycheck, or Digital) in your hands to begin with. But, that fiat paper money has a string attached to it. An invisible string that most people can't see. Like a fish that finds a worm often doesn't pay attention to the fish hook and fishing line that it is attached to. The fact that the fiat currency even exists means that it has to be repaid at some point. And now the Banks are reeling in their catch. They caught you, and everything that anyone used their Fiat Currency for. They own everything. And all it took was for them to back real money with nothing.

The Banks now own everything. If we do not remove the power of the Banks to create Currency backed by nothing, it doesn't matter what we do. If we take it all back right now by force, and leave them with the power to sign money into existence, they will just buy it all back from us again, and again, and again. This cycle is what enslaves nearly every human being on the planet to a small group of dominant men who want nothing more than to control everything in existence. The cycle must be broken.

Very well said. I owe you one.

[DamianTV]

Hell, I thought I was stating the obvious!

I guess obvious to us is not as obvious to people that havent really figured out what is going on. People in general seem to think that Taxes only come when the goverment takes a certain Quantity (regardless of its value) from their paychecks. But when the government prints money out of nothing, spends it into existence, that it is also a form of taxation on the Value (regardless of the quantity) of their money. When they get taxed on the Quantity, they know its the government, but tax the Value of the money (inflation, print money into existence) people cant seem to figure that out. But really, for this crowd, I am preaching to the choir.

But maybe that is a simpler way to put it.

Direct Taxation is Taxation on the Quantity of Money.
Inflation Taxation is Taxation on the Value of the Money, which causes that value to drop.

---

Anyway, you owe me one? Well, Im broke, I need to collect! :P

[Freedom 4 all]

What the hell was China even thinking loaning us all that money in the first place? That's a pretty $#@!ing dumb investment, like loaning a thousand dollars to a cokekhead and expecting him to spend it in such a way that he can pay you back.

Also...

China: YOU PAY NOW!! NOW!!!
Bart: What happened to you China, you used to be cool?
China: CHINA STILL COOL!! YOU PAY LATER!!! LATER!!!!

[heavenlyboy34]

What the hell was China even thinking loaning us all that money in the first place? That's a pretty $#@!ing dumb investment, like loaning a thousand dollars to a cokekhead and expecting him to spend it in such a way that he can pay you back.

Also...

China: YOU PAY NOW!! NOW!!!
Bart: What happened to you China, you used to be cool?
China: CHINA STILL COOL!! YOU PAY LATER!!! LATER!!!!

Perhaps they thought they would be able to make the regime a debt slave...something of a miscalculation, considering that a huge chunk of the debt is spent on things that go BOOM.

WTF was the Chinese central bank thinking in making so many bad loans to the regime? /curious

[Anti Federalist]

Very well said. I owe you one.

Got him for ya.

[doodle]

The World is now owned by Creditors.

Those would be Creditors are the very same Banks that printed up the money you used to acquire your belongings to begin with. Its not just the dollar. Every form of Currency now represents some elses debt to someone else. The mere fact that it has not been repaid is what puts that Currency (whatever its form, Dollar Bill, Paycheck, or Digital) in your hands to begin with. But, that fiat paper money has a string attached to it. An invisible string that most people can't see. Like a fish that finds a worm often doesn't pay attention to the fish hook and fishing line that it is attached to. The fact that the fiat currency even exists means that it has to be repaid at some point. And now the Banks are reeling in their catch. They caught you, and everything that anyone used their Fiat Currency for. They own everything. And all it took was for them to back real money with nothing.

The Banks now own everything. If we do not remove the power of the Banks to create Currency backed by nothing, it doesn't matter what we do. If we take it all back right now by force, and leave them with the power to sign money into existence, they will just buy it all back from us again, and again, and again. This cycle is what enslaves nearly every human being on the planet to a small group of dominant men who want nothing more than to control everything in existence. The cycle must be broken.

That is shocking.
So what does it take to be a banker, can anyone with a shiny building and printing press can start a big bank?

[PermanentSleep]

China: You owe us money, don't default.
US: Watch it, we have the strongest military kill machine in the world
China: You watch it, if we shutdown all our exports, your economy will collapse. Stop spending like drunk sailors
US: We have to spend to stimulate economy and to fund freedom wars in 6 plus countries, TSA and other programs
China: Whatever, don't even think of defaulting.. we have strong internet invasion army
US: Oh..

^that is the single greatest and most hilarious, sad but true thing I've ever read on this forum. Lol. Cheers.

[doodle]

^that is the single greatest and most hilarious, sad but true thing I've ever read on this forum. Lol. Cheers.

Well thank you

[DamianTV]

What the hell was China even thinking loaning us all that money in the first place? That's a pretty $#@!ing dumb investment, like loaning a thousand dollars to a cokekhead and expecting him to spend it in such a way that he can pay you back.

...

I think they loaned us the money to begin with because they expected that eventually we would not be able to pay it back. The Cokehead that was lent the money also drives some pretty nice cars. So when the default occurs, they the cars back. But they did get something else of value. The effort it took to make partial payments. Since money itself can just be printed up from nothing, it doesnt really have value, but as a tool used to deprive the one who borrowed the valueless fiat currency to begin with, that is where its real power lies. And it can only be described with the simplest of terms.

THEFT.

[Travlyr]

Got him for ya.

Much obliged.

[doodle]

What was that old, obsolete phrase? 'Backed by the full credit and faith of the United States of America,' if I remember correctly. I remember when Republicans actually valued that concept...

That was way way before we started spreading our faith in freedom in Iraq.