China becomes largest holder of US treasuries

Every dollar spent in Iraq is counterfeit money backed by worthless T bills. We were broke when the war started.

So is capitalism or communism the more powerful system? Are the communists geniuses for getting the capitalists to be beholden to them or are the capitalists geniuses for getting the communists to hold capitalist paper?

The political spectrum is an unclosed nipple ring, not a line.

Good thing its all backed by Gold... right? hahahahahahahahahahahahahahahahaha

Smoke and mirrors my friends.

*exits stage left...

I said something about this on another post about selling solar panels to them.

Keep selling treasuries to them.

This way when the economy completely tanks, All other economies will fold as well.

Bring everybody back to zero..

Project Mayhem is well underway.

Ride on!

Isn't that where the Amero is being produced???

Bush is a criminal. He sold America to other countries. This is treason.

We peoples of the world are being driven into a new awareness of commonality. We are beginning to see how it has been possible for us all to be manipulated like chess pieces, by keeping us leashed to our own separate patriotisms. I think the leashes are made of something called monetary systems, and they are ALL counterfeit, banshee, because pieces of paper and numbers in columns and the illusion of possession are all ways of faking life’s true treasures.

whats a treasury exactly?

China held 585 billion dollars worth of treasuries, while Japan held 573.2 billion dollars, and the US came in last at 10 dollars and 53 cents.

Since the only thing holding the whole tilting and sliding pile of debt together is all of our collective belief in it, this really only matters to an accountant measuring how far the rubble's going to spread out once it all collapses.

Everyone else just cares that it's falling.

Some of us are happy about it.
What you sow, you reap.

Now reap the whirlwind.

; )-~

The funny thing is that even though America is broke other countries are still willing to lend us money.

There is your global economy. Its a game we started and now we're losing!

To netstorm2k8 :

I believe the Biblical saying is, "When you sow the wind, you will reap the whirlwind."

just now? but we already talked about this in government class last March..

So what exactly happens when we get foreclosed on?!?!

Capitalist know how to make money, that is why other countries still invest in America. Unfortunately, our government is spending more than we can make and more than they can steal in taxes, and more than they can collect on trade. Speaking of trade, China also owns $1.5 trillion in US trade surplus. Quick math says we owe China about 2 trillion bucks. And you thought our next language would be spanish.

this has been going on for years, it's nothing new

sometimes the new things we find out are so mindblowing

That title is misleading. It sounds like China has more treasuries than the states itself. (and i certainly hope that i'm right that that isnt the case)

Another sad issue is the lack of understanding displayed by the “backed by gold” people. Gold, other than used for thermal or electrical properties (and a few others), has no “intrinsic” value other than what people assign to it. Historically, a value has been assigned to it because it is rare (not really so rare) and pretty. Thus, a currency backed by gold is only as solid as the mostly irrational desire for that gold.

The real essence of this is the understanding that the US dollar is, in fact, backed by something. The US dollar is backed by the belief that it represents a relatively stable amount of purchase power within a successful and varied system of exchange. An under reported reason of eliminating backing the dollar to precious metals was to force monetary policy makers to adopt policies ensuring a healthy and vibrant economy (the idea being that w/o such, the belief in the dollar would drop. Note, I will easily admit that for the last 8 years the economy has been greatly mismanaged).

Well, I hope this helps to educate a few of those crying for the “gold standard.”

The downfall of America. But its a good thing because the idea of America has never been realized. When the constitution was written slaves were being raped and woman were being forced into submission.

all we need is a second revolution and all prior debts will be rendered null and void.

I'm scared now...

Behold our future overlords!