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To: UncleBigs who wrote (59196)	4/23/2006 10:46:14 AM
From: arun gera	Respond to of 110194

>There will be tremendous public support to renege on the debts owed to China. With one stroke of the pen, China's reserve's in U.S. IOU's can become worthless.> Aren't China's IOUs supporting a lot of other IOUs in the US economic system? Are the chinese IOUs explicitly traceble to China or the US will have to trace them through every intermediary party that may hold a stake in those IOUs? -Arun

To: UncleBigs who wrote (59196)	4/23/2006 11:14:48 AM
From: RJA_	Read Replies (3) \| Respond to of 110194

>>There will be tremendous public support to renege on the debts owed to China. With one stroke of the pen, China's reserve's in U.S. IOU's can become worthless. And with that same stroke all promises of US full faith and credit will become, if not worthless, highly suspect. IMHO that will be the end of investment in US debt... Last time I looked we require how manny billion daily in foreign investment to cover trade and budget deficits? Above scenario will not happen, because it is suicidal. Also, as an ex bank examiner, us debt instruments are considered the highest quality (backed by the money printer) for all us bank reserve requirements. What do you suppose a default will do to that little fiction?

To: UncleBigs who wrote (59196)	4/23/2006 11:27:37 AM
From: shades	Read Replies (1) \| Respond to of 110194

shades I agree. China is set up as the villain when our economy falls apart. If there is one thing our politicians are GOOD at - it is blaming some other sucker - HAHA! But even Russ said the amount of THEFT was pathetic when he went over there to the great pirate ship. Look if the functional mechanics of capitalism requiring payment for innovation are sidestepped - it all comes crashing down eh? If there is HUGE demand for things in china and they just STEAL those tommy bahama shirts instead of paying for them - capitalism falls apart eh? One of my software writing buddies says opensource is a dead end future - no one will keep working for free (he has lost a ton of money as manufacturing has went offshore and he didn't keep his software up in other languages - now he spends all his days and nights updating wikipedia stuff for free - OH the irony - HAHA) This was on C-span earlier today. inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&record=195088940 Megatrends 2010: The Rise of Conscious Capitalism Virginia Festival of the Book Charlottesville, Virginia (United States) ID: 191843 - 2 - 03/23/2006 - 1:25 - $29.95 Megatrends 2010: The Rise of Conscious Capitalism New scandals, downturns, and disasters...how are business leaders and consumers responding? Author Patricia Aburdene (Megatrends 2010) discusses the rise and impact of conscious capitalism. (UVa McIntire School's Institute for Wisdom and Integrity in Commerce) UVa Newcomb Hall South Meeting Room (374) UVa Central Grounds They will be labeled as a cheater and currency manipulator. That is already the talk at the IMF meetings this weekend eh? There will be tremendous public support to renege on the debts owed to China. I believe this is a serious possibility in our future - do you think the mexicans calling for reconquista give one shit about paying taxes to repay chinese - I bet not. With one stroke of the pen, China's reserve's in U.S. IOU's can become worthless. I remember someone posting here about the US running simulations about 2 kinds of currency - one that circulates inside the borders - one outside - the future will be interesting.

To: UncleBigs who wrote (59196)	4/23/2006 11:43:35 AM
From: shades	Respond to of 110194

Here is a possible scenario for how to shape public opinion: democracynow.org Amy Goodman will put some Falun Gong folks on TV - say china has killed 100 million innocent people and selling thier organs - make blackbeard the pirate look honest with all thier stealing of our IP - hurt little girls in thier factories by pouring acid on them for not making quota - and the only way we can stop it is to stop sending them MONEY and absolve that DEBT we owe them because they are tools of the DEVIL - I can see a lot of americans saying HELL YAH - we aren't gonna pay you no more china man! Screw you and our debts we owe - we just wont PAY! I know many rednecks, mexicans, and cubans that would vote with these feelings - damned be global finance. Then oprah will rally her people on TV saying yah - just what amy goodman said - then it will just spiral out from there. When the politicians get ready to spin this - they will keep playing that falun gong heckler at hu's speech over and over - over at the china crockery thread Subject 54165 julius wong and realmulan already saying that was staged by bush to get amercian public support rallied against china. I thought myself they are really letting her heckle for quite a long time.