Politicians has other good clown shows plotted. "We must not let any other countries hold our national and economic interests hostage." Congressman Sam Johnson weighs in on foreign debt threat! Michele Bachmann, a 2012 presidential hopeful, joked that "Hu's your daddy" with US national debt. Former Sen. Alan Simpson, co-chairman of the president's deficit-reduction committee put his immense insight about the fiscal cliff:
There's a group out there that doesn't give a damn about Republicans or Democrats or the president, and it's the people we owe $16 trillion to. Half of that is owned by private people -- people in New York or Cody, Wyoming. The other half is owned by feds, and half of that is owned by China.
Not to be overdone, former congressman and another 2012 President wannabe Allen West declare "China owns about 29 percent of (the U.S.) debt.'' and "our Navy must be supported, not forgotten about". Same goes again, Herman Cain, another Republican presidential candidate in 2012, sounds the dire alarm "If we don't begin to grow with the potential that we have in this country, we will have another national security crisis, and that national security crisis is that China will be as big as we are," Cain said. "They'll start to develop a military as big and as good as ours, and they've got a billion more people and they're holding 26 percent of our debt. And you think we're going to be able to sing Kumbaya with them?"
We all know when someone lend us money at near zero interest rate, who is the beneficially. The beautiful part of national debt is it can be paid off with freshly printed money as long as congress doesn't go real and shutdown the printer. Chinese cannot foreclose American on the loan, legally or by its much less capable military power. The best they hope is the pittance in interest and the US eventually pay off in printed bills in the future, at current value or far less due to inflation. Agree with our intuition John Frisbie reported to congress that the bigger issue for the U.S. is the size of fiscal deficit and the long term implications for the economy. It is not the level of China’s debt holdings. For the same report Pentagon put it more straightforward and in completely agreement with us, "Attempting to use U.S. Treasury securities as a coercive tool would have limited effect and likely would do more harm to China than to the United States."
Above said, China is of no threat but our biggest economic helper? Despite assurance from DoD, Politically motivated pundit has no difficulty to invent and drum up a totally imaginary China threat, "Debt Terrorism". The real "threat" is now that China can sell them off, at huge loss to Chinese people. But this MAD act will causing a financing vacuum and US will crash! Didn't we warned that China hold 25-29% of US national debt!!!
These congressmen teaches American just like the Nazi brainwash their kids in "The Cattle Jew"
...
There was once a Jew called Kohn
With 100,000 talers all his own
From cutting offers to the bone.
Greed of gold had sullied his soul.
Came a farmer in greatest need,
Cows and pigs he offered the Jew
For 120 Gulden new
To free himself from binding debt.
The Jew, however, was not ashamed
To pay him half the price he named.
Away went cattle with grinning Jew,
The farmer was heartbroken, too.
Misfortune dogs him more and more;
In Jewish hands there’s death in store.
So listen, you people, wherever you are:
“Don’t trust a fox on the greensward
And never a Jew on his plighted word!”
Let's go to the numbers! "There are three kinds of lies: lies, damned lies and above that China Threat mongers."
The latest Federal Reserve data showed China is leery of holding too much US debt and quietly allowed Japan to move ahead of pack. Who wants the trouble of holding paper with questionable credit rating that pays a pittance? "Nazi is new vogue" and "hatre is new freedom", with patriotic president wannabe and kids all plan to came to the other end and kill everyone in China. It is best to play safe and not to hold the hot potato or provide cheap financing to the ever-increasing US IOUs!
Federal Reserve have reams of numbers:
To give pundit enough credit, we have to go back to 2011 rather than using the latest data showed China is no long foreign debtor #1. Even when we pick 2011 when China was singled out as the biggest foreign debt holder, here's the breakdown according to Federal reserve
|
and the Pie
Even at the peak, China owns only about 8.3% of US National Debt! Put in perspective, to get America completely out of debt crisis, we have to kill or rob the people holding the rest 91.7% too after annihilation of Chinese. If we count per capita, it is much easier to rob the 300 million US domestic debt holders who held 67.8% of the national debt, then shake down the 127 million Japanese who hold 6.4% in their life retirement savings before we figure out how to kill off everyone of 1.3 billion in China, --who will be cornered in a nasty nuclear war followed by guerrilla resistance in their mountains for their life.
How's our deficit chairman's facts? It is at least a tad better than president wannabes.
Private US Citizen 50%
Federal Reserve Bank 25%
China 25%
Frustrated that Federal Reserve cannot get the numbers meaningfully close to any of the president wannabe like or deficit-reduction chairman, Herman Cain told supporters at a tea party rally in Iowa in 2012. "No. 1, we have to stay informed, stay informed, because stupid people are ruining America," he said. "They are. Stupid people (like Feds who cannot get our wanted numbers) are ruining this country!"
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