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Politics : Politics of Energy

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To: Road Walker who wrote (6157)	3/14/2009 8:47:10 AM
From: RetiredNow	Read Replies (1) of 86356

RoadWalker, check this out. We're about to start seeing just how smart Obama is. Have you noticed that China is squealing about their huge US Treasury holdings and calling for financial guarantees from the US not to default on our debt? If I were President, I'd meet with Premier Wen and tell him two things: 1) our countries are irrevocably tied financially and we need to work together on a whole host of issues 2) we'll give him financial guarantees on their US debt holdings in direct response to them freeing their currency to float on the open markets. Their non-floating currency is one of the major reasons we have such a huge trade deficit with them and if we force them to float it through witholding financial guarantees on their debt holdings, then we'll finally strike a trade deal with them that is fair for both parties. If Obama misses this opportunity, I'm going to be one pissed off American citizen. We have leverage over China for the first time in my life time, because of our huge debt and their huge investment in our debt. We'd better not squander it. ---------------------- Wen calls for US fiscal guarantees By Geoff Dyer in Beijing and Alan Beattie in Washington ft.com Published: March 13 2009 19:19 \| Last updated: March 13 2009 19:19 Chinese Premier Wen Jiabao on Friday urged the US to take measures to guarantee its “good credit”, expressing concern about the “safety” of his country’s huge holdings of US government debt. Mr Wen’s shot at the US’s deteriorating fiscal position – on the eve of this weekend’s G20 finance ministers’ meeting – was paired with a promise to increase China’s public spending this year to boost its economy if needed.

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