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$1.23 Trillion- US “debt” owned by China- WIPE IT CLEAN AS PAYMENT FOR Corona? Yea or no?
Posted on 3/29/20 at 10:15 am
Posted on 3/29/20 at 10:15 am
One thing that i would like to see MAGA address is the ramifications of this Chinese virus, their cover up of it, and their propaganda lies about it moving forward.
I would suggest that the economic impact on the US is in the trillions of dollars in both direct and indirect damage to the US economy directly caused by China.
So when the dust settles on this thing, will telling China to wipe its arse with those US treasuries as payment be on the table?
On top of the tariffs and the moving of manufacturing back to America, the wiping of this debt to them must be on the top of the list.
Very simple- stop making interest payments on these notes.
I would suggest that the economic impact on the US is in the trillions of dollars in both direct and indirect damage to the US economy directly caused by China.
So when the dust settles on this thing, will telling China to wipe its arse with those US treasuries as payment be on the table?
On top of the tariffs and the moving of manufacturing back to America, the wiping of this debt to them must be on the top of the list.
Very simple- stop making interest payments on these notes.
quote:
5% The amount of U.S. debt that is held by Chinese entities. China took the top spot among foreign creditors at $1.123 trillion, followed by Japan, at $1.042 trillion, as of December 2018
20
Posted on 3/29/20 at 10:17 am to Covingtontiger77
Just mint a single $1.23 Trillion coin and send it to them.
This post was edited on 3/29/20 at 10:19 am
Posted on 3/29/20 at 10:19 am to Covingtontiger77
The lack of economic literacy on this board is astonishing
Posted on 3/29/20 at 10:20 am to Covingtontiger77
Adding: I love MAGA. But I do not like the public display of affection towards Xi.
He and his country need to pay and pay dearry for this.
He and his country need to pay and pay dearry for this.
This post was edited on 3/29/20 at 10:20 am
Posted on 3/29/20 at 10:20 am to Covingtontiger77
Tell them to get fricked and to invade Africa and start farming if they expected to feed their 1.3B mouths next winter
Posted on 3/29/20 at 10:20 am to Covingtontiger77
Could be part of the plan
Posted on 3/29/20 at 10:21 am to TrueTiger
Can we put Trump on the Trillion Dollar coin?
Posted on 3/29/20 at 10:21 am to Covingtontiger77
Too many thinks to get away from China at this point to just do that. We have to start working towards getting back our manufacturing and other things from China, once they don't have a threat over us, then I could see doing that. But it would probably take years unfortunately.
Posted on 3/29/20 at 10:21 am to Covingtontiger77
I don’t think that’s possible, and would likely do more harm to our economy than good.
I would have no issue with it, hypothetically.
I would have no issue with it, hypothetically.
Posted on 3/29/20 at 10:22 am to Covingtontiger77
No.
Problem is investors would start worrying about having their debts voided for other bad behavior, and there is no pre-defined meaning of "bad". Saudi Arabia might stop buying bonds because we might cancel our debt to them for funding terrorism. Any regime change that we don't like might result in debts being voided. Companies might have the same concerns.
Which means we don't get as many domestic takers at bond auctions since there are no foreign secondary buyers. Bad precedent.
Just use tariffs and sanctions to send them the bill.
Problem is investors would start worrying about having their debts voided for other bad behavior, and there is no pre-defined meaning of "bad". Saudi Arabia might stop buying bonds because we might cancel our debt to them for funding terrorism. Any regime change that we don't like might result in debts being voided. Companies might have the same concerns.
Which means we don't get as many domestic takers at bond auctions since there are no foreign secondary buyers. Bad precedent.
Just use tariffs and sanctions to send them the bill.
Posted on 3/29/20 at 10:22 am to Skeezer
quote:
The lack of economic literacy on this board is astonishing
Explain my illiteracy on this.
We owe them for t bills they purchased.
They caused trillions of dollars and damage to our economy.
They owe us for the damage.
They can either start sending pallets of money and gold Ronald off this debt or we can work out a settlement of debt we owe them.
Seems pretty straight forward- a personal injury action on steroids.
Posted on 3/29/20 at 10:33 am to Covingtontiger77
quote:What do you think happens to borrowing costs on the other $23,000,000,000,000 if we default on this? Good grief.
Explain my illiteracy on this.
Posted on 3/29/20 at 10:35 am to Covingtontiger77
Without a doubt!
Posted on 3/29/20 at 10:41 am to Covingtontiger77
quote:
love MAGA. But I do not like the public display of affection towards Xi.
I would say that Trump considers China public enemy #1. As we speak behind the military curtain we are strategizing what exactly to do with those nasty fricks.
Posted on 3/29/20 at 10:53 am to Covingtontiger77
The US Dollar is the most trusted currency in the world because of the trust the world has in both the ability and reliability of the US government to honor its debts and back its currency to prevent hyperinflation.
If the US refused to honor its Chinese debt claiming a policy difference, other nations would begin demanding payment on their debt and would refuse to issue more debt to the US. At that point, the only way for the US to continue running its government at a massive deficit would be to start printing more money, resulting in hyperinflation and economic collapse.
If the US refused to honor its Chinese debt claiming a policy difference, other nations would begin demanding payment on their debt and would refuse to issue more debt to the US. At that point, the only way for the US to continue running its government at a massive deficit would be to start printing more money, resulting in hyperinflation and economic collapse.
Posted on 3/29/20 at 11:14 am to Covingtontiger77
I am shocked it's only $1.23T.
Posted on 3/29/20 at 11:14 am to Covingtontiger77
China's dollar reserves are probably higher than the total amount of dollars circulating in the US economy annually. I highly doubt a free trilli will be an issue for the commies. They'll just click a button and print more of their fake monopoly money. Just like we do here :)
Posted on 3/29/20 at 11:20 am to Covingtontiger77
It was good enough for the GM bond holders.
Posted on 3/29/20 at 11:37 am to Covingtontiger77
In no way should we even consider defaulting, but there should be some sort or restitution from China. In some form.
Posted on 3/29/20 at 11:46 am to TigerDeBaiter
Expect essential manufacturing to make a big move back to the US. I expect meds, med supplies, & medical equipment to make up a big footprint in that move. Look for American agriculture & farm to table to start booming. I expect South Korea & Japan to start getting more of the consumer electronics.
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