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llotter
10-13-2010, 10:48 AM
The Moron has come under scrutiny for receiving compensation by the Chinese Communists. It is no wonder that he has been bowing to them at every opportunity. If this doesn't bring an end to this colossal mistake in American history, I just don't know what will.

pooltchr
10-13-2010, 12:06 PM
I can't believe that any politician would be accepting financial assistance from a foreign government.

(Unless they are a member of the Chamber of Commerce)
/forums/images/%%GRAEMLIN_URL%%/crazy.gif

Steve

llotter
10-13-2010, 12:19 PM
i can't wait for the new congress to get a special prosecutor to investigate this treason.

LWW
10-13-2010, 04:20 PM
I heard RL do that on the radio today.

I love how he takes ridiculous moonbat arguments and then applies them to something else to show how ridiculous the argument was in the first place.

LWW

cushioncrawler
10-13-2010, 05:31 PM
[Forbes] U.S. investors may have cheered the Federal Reserve's decision this week to pump more than 1 trillion new dollars into the economy, but at least one faction in China was on the verge of tears.

"I want to cry, really want to cry," wrote one Beijinger on Thursday, posting on one of China's most popular portals, Sina.com. The problem was that by issuing more currency, the Fed was potentially weakening the U.S. dollar, making China's dollar-based investments worth less. "Those elites insist on buying American bonds."

Yahoo! BuzzOne of "those elites" under fire is Premier Wen Jiabao. When he expresses public angst about the safety of China's holdings of U.S. debt, he is speaking partly to domestic critics who believe Chinese leaders have unwisely tied their country's fate to the U.S. economy. Many of the critics may be crackpots and conspiracy theorists, but they have a point.

They know that their government is now America's largest creditor, with more than half of its $2 trillion in foreign exchange reserves invested in Treasury securities and other U.S. government bonds. Some of these critics suspect that the Federal Reserve essentially prints more money not just to stimulate the economy, but also to devalue China's U.S. dollar portfolio, undermining a rival power.

It may be a paranoid theory, but it is a popular one. One of China's bestselling books in the past 18 months is Currency Wars, a conspiratorial screed that suggests that Western financial interests, including the Federal Reserve, seek to destroy the Chinese economy. The book has sold more than 1 million copies officially, and probably several million more pirated copies, and remains a bestseller now as economic conditions deteriorate.

Any leaders who choose to ignore this populist thinking risk being branded as sellouts. Last fall, as the financial crisis was unfolding, an incendiary letter circulated on the Internet claiming that a clique of Chinese elites, led by investment banker and former Premier Zhu Rongji's son Levin Zhu, formed a "foreign financial interest cartel" that has betrayed the interests of the Chinese people to enrich themselves and their cronies.

The letter named as co-conspirators the men running China's $200 billion sovereign wealth fund, whose disastrous investments in the Blackstone Group (nyse: BX - news - people ) and Morgan Stanley (nyse: MS - news - people ) have lost China billions. People's Bank of China Governor Zhou Xiaochuan, China's Ben Bernanke, was singled out for investing too much in Treasurys as the dollar was depreciating--more reasoning straight out of Currency Wars.

Comment On This Story
The believers are not just fire-breathing ideologues. "Many technocrats believe in this argument that the U.S. is trying to screw over China by cheapening the dollar," says Victor Shih, a political economist and China specialist at Northwestern University. Shih learned of the influential reach of "Currency Wars" when he visited last summer with bureaucrats from the People's Bank of China.

"Many PBOC officials bought into the arguments of this book and I think they've been writing a lot of reports to Wen Jiabao saying we're holding a lot of dollars and we're exposed to this risk," Shih says. "And essentially that's true."

There's the rub. Almost by accident, the conspiracy theories cut straight to what many economists consider a fundamental weakness in China's monetary policy, and the leadership knows it. China has accumulated huge U.S. dollar reserves to keep the value of its own currency down, economists say, increasing its dependency on exports and decreasing its ability to invest more domestically.

"You're making your economy more dependent on the rest of the world," says Brad W. Setser, an economist at the Council on Foreign Relations who has closely monitored China's sovereign investments. "You're relying on demand from the rest of the world to maintain domestic employment rather than, say, running a fiscal deficit."

Now China is locked into a situation where it needs the U.S. economy to rebound, but as the U.S. spends trillions of dollars to make that happen, it devalues the one currency China is most heavily invested in and pegged against. That forces China to continue buying U.S. dollars both to keep the value of its currency down and to protect its portfolio, so China ends up helping finance the U.S. economic recovery plan.

According to Setser, there is "no good historical analogy" for this situation. Never before has the U.S. been so heavily financed by one country. That relationship has already been the subject of much hand-wringing in the U.S., but it may be an even more volatile political problem for China.

It's the old debtor's aphorism, writ on a sovereign scale: If you owe China $1 billion, it's your problem. If you owe China $1 trillion, it's China's problem.

cushioncrawler
10-13-2010, 05:36 PM
Hmmmmm -- i am China -- Hoo do i back (Hoo's on first) -- the Dems or the Repubs???
Hmmmmm -- whats good for theusofa economy iz good for China.
Hmmmmm -- but, whats good for China iz bad for theusofa.
Hmmmmmm.
mac.

cushioncrawler
10-13-2010, 05:50 PM
Are theusofa Supreme Court just puppets of China????
mac.

[manufacturing net] BEIJING (AP) -- China's giant sovereign wealth fund revealed it has accumulated stakes totaling $9.6 billion in major U.S. companies including Coca-Cola, Apple and Goodyear following a buying spree last year.

Most of the stakes are small, reflecting China Investment Corp.'s strategy of avoiding politically sensitive acquisitions. But they highlight its growing presence in global markets as it invests a portion of Beijing's $2.4 trillion in foreign reserves.

The holdings were disclosed Friday in a filing with the U.S. Securities and Exchange Commission that listed shares traded in the United States.

CIC, one of the world's biggest investment funds, was launched in September 2007 with $200 billion in capital to earn a better return on Beijing's reserves. One-third of its capital was earmarked for investment abroad, and the fund has bought minority stakes in mining, oil and financial companies.

The biggest holding in CIC's disclosure is $3.5 billion in Canadian mining company Teck Resources Inc., an investment that was previously announced.

CIC has expanded cautiously abroad, trying to avoid a repeat of the political uproar in Washington that followed state-owned CNOOC's 2005 bid to buy U.S. oil and gas producer Unocal Corp. CNOOC Ltd. withdrew its bid after some U.S. lawmakers complained the sale might jeopardize national security.

The fund has said it plans to be a passive investor, holding minority stakes in foreign companies to avoid arousing political opposition.

That strategy is reflected in its disclosure, which includes small holdings in dozens of companies, including $353.8 million in Visa Inc., $6.3 million in Apple Inc., $9 million in Coca-Cola Co. and $1.4 million in Goodyear Tire & Rubber Co.

It also listed a $1.7 billion stake in Morgan Stanley, which CIC bought in June when the investment bank raised money to repay U.S. government bailout funds. CIC also agreed in 2007 to pay $5 billion for a nontradable 9.9 percent share of Morgan Stanley, but that did not appear in the latest disclosure.

hondo
10-13-2010, 07:43 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: llotter</div><div class="ubbcode-body">i can't wait for the new congress to get a special prosecutor to investigate this treason. </div></div>

I can't either.

Sev
10-13-2010, 08:07 PM
2 years of Clinton all over again. OH joy!!!

Bring on the impeachment. Its been far to long since we had one.

hondo
10-14-2010, 06:48 AM
I remember during Bush's regime the Lefties called Bush every name in the book and I was one one of them.
The Righties kept saying that regardless of how you feel , he
is the POTUS and deserves more respect than that.

After a few years I got it and stopped.
Did I stop blasting his actions? NO.
Did I stop thinking he was a moron? NO.

I just didn't say it because I am an American and they were right. I wish you would think about it.

LWW
10-14-2010, 04:59 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: hondo</div><div class="ubbcode-body">Did I stop thinking he was a moron? NO.

I just didn't say it</div></div>

I love how you say that you stopped saying it immediately following you saying it.

LWW