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re: $1.23 Trillion- US “debt” owned by China- WIPE IT CLEAN AS PAYMENT FOR Corona? Yea or no?
Posted on 3/29/20 at 11:47 am to Bjorn Cyborg
Posted on 3/29/20 at 11:47 am to Bjorn Cyborg
quote:of course it's not possible. The OP is clueless about US debt and currency in general.
I don’t think that’s possible, and would likely do more harm to our economy than good.
0
Posted on 3/29/20 at 11:55 am to Taxing Authority
quote:
What do you think happens to borrowing costs on the other $23,000,000,000,000 if we default on this? Good grief.
Yep, the cost of borrowing just goes up as those other lenders see that we defaulted on a loan.
This whole idea of not paying our debts is beyond dumb.
Posted on 3/29/20 at 11:59 am to Junky
A creditor nation defaulting on debt obligations of the country who's labor you're dependent on to function (probably not anymore lol). Hello 26% treasury yields.
Hopefully our leaders take a step back and notice how our economy isn't sustainable and turn this into an inflationary economic boom after the virus problem is solved. They won't though, back to clicking buttons so government's can overspend.
Hopefully our leaders take a step back and notice how our economy isn't sustainable and turn this into an inflationary economic boom after the virus problem is solved. They won't though, back to clicking buttons so government's can overspend.
Posted on 3/29/20 at 12:30 pm to Covingtontiger77
quote:Aside from the minor issue of anti-Constitutionality, the 14th Amendment, and crushing confidence of other foreign investors, yea.
$1.23 Trillion- US “debt” owned by China- WIPE IT CLEAN AS PAYMENT FOR Corona? Yea or no?
Posted on 3/29/20 at 1:07 pm to Skeezer
We can always do a write down of our debt
Posted on 3/29/20 at 1:14 pm to Cwar11
quote:
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.
this should happen
what's really going to be telling is WHO is against this...these are the people bought an paid for by either CORPORATIONS OR CHINA...traitors!
This post was edited on 3/29/20 at 1:15 pm
Posted on 3/29/20 at 1:20 pm to Covingtontiger77
That’s a great idea! If I owe you a $1000 I may have a problem. If I owe you $1.2 trillion I’d say you are the one with the problem.
Posted on 3/29/20 at 1:24 pm to Covingtontiger77
The virus backlash, paired with the resulting economic turmoil. . .
I have a bad feeling this is going to end in war.
And it is going to be bad
I have a bad feeling this is going to end in war.
And it is going to be bad
Posted on 3/29/20 at 1:28 pm to MillerLiteTime
quote:
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.
I agree with all of this.
However, I'm not sure other nations would demad payment on debt.
Everyone is pissed at China, other nations may even follow suit.
Posted on 3/29/20 at 1:30 pm to blueboxer1119
Trumps reperations from China?
Posted on 3/29/20 at 1:32 pm to Covingtontiger77
quote:
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 feel this could be a South African apartheid type of situation.
Trump should rally the world to ostracize China(economically). In other words, economic apartheid instituted.
This post was edited on 3/29/20 at 1:34 pm
Posted on 3/29/20 at 2:04 pm to TrueTiger
quote:
Just mint a single $1.23 Trillion coin and send it to them.
And mint it out of aluminum. Not gold, silver, platinum, or palladium.
Posted on 3/29/20 at 2:08 pm to NPComb
quote:
I would say that Trump considers China public enemy #1
Why would you say that?? He just taxed the shite out of the country for two years so that US multinationals and banks can do more business in China.
Oh BTW the Chinese are doing as asked---they will of course benefit immensely from more American investments in China.
Goldman Sachs, Morgan Stanley grants approved
Posted on 3/29/20 at 2:40 pm to Covingtontiger77
Yep and that would be letting them off easy.
Posted on 3/29/20 at 2:43 pm to Covingtontiger77
Won't have to. Gonna be moving that manufacturing back. Should be all. They cannot be trusted. They have single handedly created a world health/economic crisis. Anyone with any sense knew it was coming. Trump campaigned on it. And I'm not convinced it wasn't intentional. They will pay in multiples. China is fricked...unless they revolt and take their country back.
Posted on 3/29/20 at 2:55 pm to Covingtontiger77
quote:
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.
Look I don't like it but they have us by the balls here as we outsourced to much shite.
We have to build that back up then we can tell them to frick off.
Posted on 3/29/20 at 3:33 pm to TrueTiger
quote:
Just mint a single $1.23 Trillion coin and send it to them.
Well, this would be one way to see if they have a sense of humor.
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