> Obama Regime Report < Obama Regime Report: China Says to Obama "No More Dough Bro"| 上海日报 -

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Saturday, December 19, 2009

China Says to Obama "No More Dough Bro"| 上海日报 -

 They know it's not "US" spending the money, and the CHICOM Government is getting pissed, because they too see "reckless dem spending" and don't wanna wake up to see this country worthless either, as much if not more than we do. They're presently carrying 3 trillion of Obama's debt, and after this Obama Care fiasco that over 60% polled in 6 ways to Sunday say they don't want or need, if they start up with Amnesty the top will blow here and there.

Then you'll see the world come to a screeching financial Tsunami- like halt we've never experienced in our lifetimes, so be prepared.  There's no one home in in the capital to stop these loons from running around spending money they don't have like "jones-ing" addicts in a DC crackhouse, and  frankly I can't understand there's no real apparent mechanism to stop behavior like this, of which we've never seen in a republic like ours "was" until this past January, besides the militant- anarchist solution.

Something no one want but may be necessary.

After all,  nothing else is stopping these people in Washington,  certainly not the predominant will of "We the People", that's for damn sure after the 6 month outcry about this ultimately being ignored, even liberals don't want it in "this form" and us "in that form", yet they still push it through

Harder to buy US Treasuries

"IT is getting harder for governments to buy United States Treasuries because the US's shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday.

The comments by Zhu Min, deputy governor of the People's Bank of China, referred to the overall situation globally, not specifically to China, the biggest foreign holder of US government bonds.

Chinese officials generally are very careful about commenting on the dollar and Treasuries, given that so much of its US$2.3 trillion reserves are tied to their value, and markets always watch any such comments closely for signs of any shift in how it manages its assets.

China's State Administration of Foreign Exchange reaffirmed this month that the dollar stands secure as the anchor of the currency reserves it manages, even as the country seeks to diversify its investments.

In a discussion on the global role of the dollar, Zhu told an academic audience that it was inevitable that the dollar would continue to fall in value because Washington continued to issue more Treasuries to finance its deficit spending.

He then addressed where demand for that debt would come from.

'The United States cannot force foreign governments to increase their holdings of Treasuries,' Zhu said, according to an audio recording of his remarks. 'Double the holdings? It is definitely impossible.'

'The US current account deficit is falling as residents' savings increase, so its trade turnover is falling, which means the US is supplying fewer dollars to the rest of the world,' he added. 'The world does not have so much money to buy more US Treasuries.'

China continues to see its foreign exchange reserves grow, albeit at a slower pace than in past years, due to a large trade surplus and inflows of foreign investment. They stood at US$2.3 trillion at the end of September."


The urge to save humanity is always a false front for the urge to rule it. H. L. Mencken

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