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China urges U.S. to be 'responsible' after S&P warning on debt

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posted on Apr, 19 2011 @ 07:43 PM
Well well well... China starting to look after their ``investment``...

China urges U.S. to be 'responsible' after S&P warning

BEIJING - China, the top holder of U.S. Treasury bonds, urged the United States Tuesday to adopt "responsible measures" after ratings agency Standard & Poor's cut the outlook on U.S. sovereign debt to negative.

S&P sent stocks plunging worldwide when it slashed its outlook from "stable" to "negative" Monday, pointing to doubts about Washington's ability to tackle looming debt and fiscal deficits - concerns raised by Beijing in the past.

"U.S. Treasury bonds are a reflection of U.S. government credit and are important investment products for domestic and international institutional investors," Foreign Ministry spokesman Hong Lei said in a statement.

"We hope the U.S. government will earnestly adopt responsible policy measures to guarantee the interests of investors," he added.

China doesn't want to see their 1 trillion in US dollar crash 30-40%...

China trims its holdings of US Treasury securities

US Treasury Department says China reduced its holdings by $600 million to $1.15 trillion. Japan, the second largest foreign holder, boosted its holdings by $4.4 billion to $890.3 billion.

Nor do they want to see their exports going down... they need their internal market/Indian market up and running before they can dump the US dollar.

No jobs in China = riots = dangerous for the communist party...
edit on 19-4-2011 by Vitchilo because: (no reason given)

posted on Apr, 19 2011 @ 07:48 PM
Repudiation! It can save our nation people. Repudiate, end the fed, get out of the UN, bring all troops home, adopt isolationist/protectionist trade policies.

posted on Apr, 19 2011 @ 07:52 PM
reply to post by Vitchilo

The ball bounces both ways. China should have done a little research and been a responsible investor. Sorry about your luck China.

posted on Apr, 19 2011 @ 08:26 PM
reply to post by sonofliberty1776

I could not agree with you more. Our government figureheads spend until its all gone, then try to spend their way out of debt. Perhaps the first couple of mega wars were good for the economy coming out of the depression, but that is no longer the case. Wars are no longer creating US jobs or stimulating our economy because there are too many competing foreign markets.
Also, our government is way to big. These last 11 years have seen the size and cost of the US government grow by leaps, bounds, and jumps. Bush and Obama both have created so many redundant departments of redundancy perpetrated by fear mongering that it now stands at an overwhelming cost.
Congress has never met a raise it didnt love and have been consistent in making sure that they never have to feel the pinch of an economic downfall. Not only that, but the unique, expensive medical and retirement plans that these clowns have in place for themselves should be cut immediately.

Just a few of these things alone would help to lower the ever increasing cost of our day to day government.

posted on Apr, 19 2011 @ 10:42 PM

Originally posted by Vitchilo
Well well well... China starting to look after their ``investment``...

And yet the Chinese are still buying into U.S. debt....

Beijing has repeatedly warned that loose U.S. monetary policy threatens the dollar, but it has continued to accumulate dollar assets at the same time, adding about $260 billion of Treasury securities last year, according to U.S. data. iness/China+urges+responsible+after+warning/4640653/story.html#ixzz1K1FLCzuR

It looks like the Chinese are the desperate ones trying to keep the whole system afloat. These treasury purchases aren't being made because the Chinese are nice nor are they being made because we have good salespeople.

The Chinese have been propping up the dollar value to keep an edge on trade and now it looks like the scheme is about to blow up.

If the whole thing blows, China can blow up along with all the corporations (like GE) who invested into Chinese slave labor.

posted on Apr, 20 2011 @ 03:35 AM
reply to post by Vitchilo

China's best bet would be commodities, metals, and new trade partners. I believe it's impossible for the two parties to come to an agreement to trim the debt, and we still have not learned our lessons on frivolous wars. I'm just glad I'll be outside of prime draft age when all the !@$! comes tumbling down. Well, I hope I don't jinx myself..

posted on Apr, 20 2011 @ 03:49 AM
the greater part of the US debt is "owned" by the american people and institutions, social security included.....

so, yes, gov't, take care of your debtors!! we, the people...........................
by the way, anyone else notice that our gov't just lent columbia something like 2.6 billion for an oil refinery?? wonder who they suckered into lending them that?? wonder if columbia is at least paying a higher interest rate on the money than we are paying for the loan we had to take out to borrow it to give them???

we need a refinery too!!!! where's our 2.6 billion dollars.....

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