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All Hell To Break Loose: April 15th

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posted on Mar, 25 2010 @ 02:06 PM
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______beforeitsnews/story/27656/All_H_ll_To_Break_Loose:_April_15th.html
www.reuters.com...


U.S. senators have introduced new legislation that threatens China with punitive duties if it fails to lift the value of its currency, boosting pressure on the Obama administration to take action under existing law.

The bipartisan measure, which merges earlier efforts to change the currency law, aims to end what the lawmakers said was Beijing's deliberate efforts to keep the yuan cheap to subsidize exports and tax imports.

Many U.S. lawmakers have called for changes because Treasury has historically been reluctant to label countries as currency manipulators, particularly China.

The new bill increases pressure on the Obama administration to declare Beijing a currency manipulator in April when a semiannual currency report is due from the U.S. Treasury Department. Under an existing 1988 law, such a move would require the Treasury to begin "expedited" negotiations with China to adjust its currency.


since china is the biggest foriegn holder of US debt... i dont think this is good news. Are we suicidal? If your asking yourself why April 15th. See above and..


Semiannual reports are due April 15 and Oct. 15


can anyone explain this in more simpler terms for us? what could come of this if it happens?




posted on Mar, 25 2010 @ 02:13 PM
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I can't really answer your question, I don't understand why USA would want China to raise the value of its currency, but this post made me realize something that I am probably dumb for not realizing before, something many ATS-ers probably already realize:
A country decides the value of its currency, so when the value of the US dollar plummets and its citizens feel the repercussions, it has been decided by Wall Street or whoever that lowering the value of the dollar would be the most profitable for them, right?
Am I completely misunderstanding this whole thing?



posted on Mar, 25 2010 @ 02:13 PM
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Wow I think this country has completely lost it now...this is literally suicide.



posted on Mar, 25 2010 @ 02:28 PM
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Considering that China is about to announce a trade deficit, the irony is if they let their currency float it would decline in value and get weaker.

Wouldn't *THAT* tick these turkeys off!!



posted on Mar, 25 2010 @ 02:32 PM
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reply to post by TheCoffinman
 


Pretty sure china is no longer the largest holder of US debt, they have been selling it off.



posted on Mar, 25 2010 @ 02:34 PM
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Japan is the biggest holder of US Debt now I believe, and China needs the USA just as much as the USA needs china.



posted on Mar, 25 2010 @ 02:37 PM
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reply to post by whoshotJR
 


actually..

rosemanblog.sovereignsociety.com...


Approximately 50-60% of all Treasury debt is held by foreign investors. China remains the single largest investor followed by Japan and the United Kingdom


that was posted 6 hours ago... so yes, china remains the biggest foreign holder of US debt.



posted on Mar, 25 2010 @ 02:43 PM
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If april 15 is the deadline, I am sure china is already aware of this. perhaps they are in on it. wouldn't it look good to the world for america to be strong enough to force china to do anything? maybe china was going to do it anyway and for political reasons is going to let america appear to force them to do it.



posted on Mar, 25 2010 @ 02:58 PM
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When the Yuan is revalued, the USD they hold will become worth a little less.



i read rumors that the USA will first impose 25% tariffs on Chinese goods

i also read the China is going to have +30 million unemployed & another revolution in the wings


China should be ramping up health related goods for export, from beds-wheelchairs-to CAT scans etc., because the USA is going to ramp up a health-care society in the private sector
in contrast to the continued expansion of the military juggernaught in the Gov't juristiction.



posted on Mar, 25 2010 @ 03:11 PM
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as far as suicide goes, i dont know....

if china bought our debt with their money currently, they would have to use a lot of yuan to buy it. that means we have a lot of their yuan, and they have our treasuries.

now if we try to just stonewall them for a while, and they raise their rates, we are now holding more yuan than previously. the value increased.

we can then turn around and trade our yuan back for our old treasuries and get more(?), because their money is now worth more.... correct? or am i missing something...

i think this is a play to screw china out of holding our debt and thinking they can control the US.

thats if my scenario is correct.



posted on Mar, 25 2010 @ 03:12 PM
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Originally posted by St Udio
When the Yuan is revalued, the USD they hold will become worth a little less.


and the yuan we hold will be worth more right?

so this is good. and not close to suicide, right?



posted on Mar, 25 2010 @ 03:16 PM
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Originally posted by St Udio
i also read the China is going to have +30 million unemployed & another revolution in the wings


maybe this combined with google not wanting to censor the internet will create an uprising there for sure.

if they see that their money is purposely weak so the government profits off the laborers work, and ontop of that, they are treated like little children who cant learn without the government overlords....

i think that could spark something rather quick....

i mean... theres a billion of them, why would they sit around getting kicked like that constantly.

add the pollution... id be going off on somebody....



posted on Mar, 25 2010 @ 03:16 PM
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I don't think China really cares what the U.S says. But poking the Red Dragon yikes!!!



posted on Mar, 25 2010 @ 03:20 PM
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Originally posted by TheCoffinman
reply to post by whoshotJR
 


actually..

rosemanblog.sovereignsociety.com...


Approximately 50-60% of all Treasury debt is held by foreign investors. China remains the single largest investor followed by Japan and the United Kingdom


that was posted 6 hours ago... so yes, china remains the biggest foreign holder of US debt.


wallstcheatsheet.com...
Either way it's very close between japan and china, and will probably flip flop a bit. It's also interesting how little the UK has compared to the others

[edit on 25-3-2010 by hippomchippo]



posted on Mar, 25 2010 @ 03:22 PM
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Originally posted by Shrukin89
I don't think China really cares what the U.S says. But poking the Red Dragon yikes!!!


i really think this is the us that doesnt care.

i mean, it seems like we are doing this stuff on purpose, no?

we invented this game. cant beat the creator at his own game...



posted on Mar, 25 2010 @ 03:24 PM
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Originally posted by mahtoosacks

Originally posted by Shrukin89
I don't think China really cares what the U.S says. But poking the Red Dragon yikes!!!


i really think this is the us that doesnt care.

i mean, it seems like we are doing this stuff on purpose, no?

we invented this game. cant beat the creator at his own game...

No, I would say they both listen to each other, because they both need each other.



posted on Mar, 25 2010 @ 04:04 PM
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All hell isn't going break loose.

The worst thing to come out of this in the near term, will be Facebook and Yahoo not working due to cyber attacks.

We can put far more pressue on China than they can on us. Like cutting off their oil supply from Iran.



posted on Mar, 26 2010 @ 08:59 AM
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Originally posted by hippomchippo

Originally posted by mahtoosacks

Originally posted by Shrukin89
I don't think China really cares what the U.S says. But poking the Red Dragon yikes!!!

i really think this is the us that doesnt care.
i mean, it seems like we are doing this stuff on purpose, no?
we invented this game. cant beat the creator at his own game...


No, I would say they both listen to each other, because they both need each other.


i think NEED is a little strong a word. maybe some corporations to continue making cheap junk that will end up in a landfill might NEED them, but thats about the extent of need that i can fathom.



posted on Mar, 26 2010 @ 09:04 AM
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reply to post by whoshotJR
 


The FED is the largest holder of US debt (6-7 times the amount held by China or Japan) and the Bildeberg bankers (Lord Rothschild at the top) own the FED.



posted on Mar, 26 2010 @ 09:08 AM
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Does this mean that the UK will again be picking up what China is selling? As I smell a rat in the room and a bit of collusion between the US and UK..

So if China sells at a loss and the UK (in cahoots with the US) pick the debt up for a loss it appears to me someone is being scammed (i.e China)

But then again, I have no idea what I am talking about and could simply be talking out of my bottom.

editing typos

[edit on 26/3/10 by thoughtsfull]



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