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China’s War on the US is On
While the President is busy giving credit to “someone else” for any successes in small business America, someone else is busy helping the president kill the dollar around the around the world…
That “someone else” is China.
As Obama and the Federal Reserve cut the American economy to pieces with taxes, regulations, and crush it into oblivion with ungodly debt, China is setting up bilateral currency trading areas in Africa, Asia, and now, in Latin America.
And of course, there is not one happy or unhappy story from the president to Americans about this.
This is a very big deal…
Is it because the president thinks that “no one country” should dominate the world, as he said in a speech to the United Nations in 2009?
Is it because he wants to see the US dollar go the way of his US birth certificate and the American economy, into the realm of fables and non-existence?
Like so many policies of this administration, one can only speculate on the reasons why an American president would work so diligently to deconstruct the greatest economy and greatest nation in the history of mankind…
It makes it hard to believe that the administration isn’t a manned by a bunch of amateurs, as the current best selling book of the same title claims is the case.
But true or not, the fact remains that China, with the world’s 2nd largest economy, has an agreement with Japan, the world’s 3rd largest economy, to trade directly with their currencies...
That is, without using the dollar as an intermediary currency. This is an unprecedented development…
And is not good for the dollar, not good for America, and not good for Americans. It would be nice to know what the plan is to challenge China on this, wouldn’t it?
Ah, but it gets worse…a lot worse. China is not only in a bi-lateral currency trading agreement with Japan, but has entered currency swap agreements with Russia, India, Iran, Brazil and Chile as well. The continent of Africa is next on their list.
The bigger problem is that these agreements are not just with countries agreeing to do business in their own and Chinese currency; they are also agreements to exclude the dollar completely.
They are called, appropriately enough, “dollar exclusion zones” and China is rapidly setting them up all over the globe.
Do you see what’s happening here? China is moving quickly to undermine the US dollar throughout the world.
Let me make it clear for you…
There are two ways countries war with one another.
One way is a currency war. If you destroy the viability of a county’s currency, you destroy a country’s ability to compete in the world and destroy its power and influence.
Without a viable dollar, the US will go into a deep depression as we will have to trade near valueless dollars into an expensive currency, such as the Chinese yuan, in order to trade. It would lead to almost immediate impoverishment for Americans.
The other way is a hot war, where you attempt to destroy the ability of a nation to project its will and power militarily. That, of course, involves any and all means of power; military and otherwise.
Are either, or both, of these happening right now?
The reality is that China is directly threatening the US dollar as the world’s reserve currency. Without that status, the US economy will go into a free fall. If that happens, today’s economic malaise will seem like ‘the good old days.’ Dollar-denominated assets would instantly lose most of their value. Think about that. All the trillions in the stock markets would be lost; trading agreements would be void as trading partners around the world would refuse to accept the US dollar. American wealth, power, and influence would evaporate over night. And yet, this is the end game of China’s currency war against the US.
But it is not just a currency war that China is waging; it is an act of war outright.
Think I’m kidding?
Then chew on this…
Each and every day, 35,000 or more computer hackers in the People’s Republic of China Army do nothing but try to hack into the Pentagon and disrupt the US military computer systems.
Chinese hackers attack our defense computer networks in order to steal data, gain access to our defense plans, and to learn how to interrupt our ability to coordinate our defenses and paralyze our military assets.
China has been at war with the US in the cyber world for years; today, the Chinese are making war on the US dollar. These aren’t the actions of an economic competitor; they are, in fact and deed, the actions of an enemy engaged in deliberate acts of war.
And what is the administration’s response to protect our currency, our wealth, and the capitalist system that sustains all of those advantages for America?
Who knows? Anybody heard a peep about this from Washington? The biggest challenge to America’s economy and our very existence as a superpower in 50 years, and what is our response?
We have none. We are too busy deciding how much more of the economy should be run by those who know nothing about it.
And those are…The Gorrie Details.