Anonymous
Anonymous asked in Politics & GovernmentPolitics · 8 years ago

China condemns US "debt addiction" and calls for new world reserve currency: feelings?

http://www.telegraph.co.uk/news/worldnews/asia/chi...

Tea Partiers were called a bunch of loons -- terrorists by Biden and crazy by Kerry, and we never got a decent debt deal. It was the Tea Party who was criticized by Obama for creating an "artificial crisis" and we were criticized by the left for not compromising -- for wanting cuts that were too "draconian." During the last debt fight when we cut a measly $33 billion, Reid said that amount was "draconian." Now, the worst to come has happened -- we warned that, y'know, hey -- China could dump our debt anytime they wanted, and we'd become a third world country overnight. The Tea Party isn't Republican nor Democratic, we're the American people wanting real reform. With that said, do you think the above article means anything?

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  • NDMA
    Lv 7
    8 years ago
    Favorite Answer

    The average life expectancy for a fiat currency is about 27 years. The US Dollar is pushing 40 years, it is going to die, just a matter of time. China is looking ahead realizing this. Too bad the US Government does not have such foresight!

  • Daniel
    Lv 7
    8 years ago

    The Chinese got a rigged trade deal from the US that worked well to their and our international corporations who paid off our politicians to get it so if the tea party was so smart why did they let the deal happen to begin with. Also where were they when it really counted at the start of the Bush presidency when we were on a path to debt elimination. To little to late that's the tea party.

  • Anonymous
    8 years ago

    Japan has twice as much debt as we do, a tsunami, and a nuclear melt down hampering industry, and a AAA credit rating because they do not have the TEA party. We just had an argument in front of our banker about whether or not we are going to pay our bills next week with the TEA party showing that they haven't the slightest capability of understanding debt or arithmetic.

    We were not downgraded for our inability to pay. We were downgraded because we meaning you have not decided if we will pay. We owe all of our debt in U.S. Dollars that we can print any time we want. We can tax to pay our bills or we can borrow to pay our bills but the TEA party was pretty certain they did not want to do any of the three.

  • 8 years ago

    Bring factories back to the USA and stop trading with China and send them into debt. If that doesn't work I'm sure our Army and, or Navy would.

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  • Anonymous
    8 years ago

    This is not just China the Brits and euros would love this as well

    I do hope all Americans have taken note of this and pay these little guys back on a personal level and governmental level as well were ever and when ever possible

  • Anonymous
    8 years ago

    China was once a Great world power and would like to do it again

    is that so surprising

    the Chinese leaders are communist but smart and are actually acting like capitalists with strong government control

    the world is so interconnected that if America goes down, the whole world economy goes down with us. that is the main reason everybody has to act responsibly

    Source(s): world economics
  • Anonymous
    8 years ago

    Restall the Chinese Exclusion Act

    Tax all Chinese imports at 90%

    Surround China with our NAVY fleet

  • Anonymous
    8 years ago

    When the dollar collapses, we'll have a new world reserve currency. Satan will control the one-world government and the false prophet will be the head of the one-world false religion (problably climate change).

  • 8 years ago

    chinese are right in saying this,they,putin,and our adversaries would like to see our currency dumped worldwide,maybe putin and europe will dig out enough gold,silver print & back up the eurorouble,devaluing the dollar overnight,thus trippling our actual debt

    it would be a mess

  • 8 years ago

    Good luck finding a better currency is all I have to say to China.

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