China blasts US 'debt addiction' and calls for new global stable reserve currency!

China has condemned the United States for its "debt addiction" and called for a new global stable reserve currency after Standard & Poor's cut its credit rating.

In a harshly-worded commentary by the official Xinhua news agency, China gave its first official comments on the United States losing its gilded AAA long-term credit rating.

"China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," Xinhua said.

China also urged the United States to apply "common sense" to "cure its addiction to debts" by cutting military and social welfare expenditure.

"The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," Xinhua wrote.

"International supervision over the issue of US dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country," Xinhua said.

Read more at link here.

I'm surprised this story isn't plastered all over internet news websites. It received some dramatic breaking news coverage on MSM television news.

Here we have China, the US's largest foreign holder of US debt blasting the White House over their 'debt addiction' and calling, among two stated options, for a new global currency to replace the USD as world reserve currency to avoid 'a catastrophe caused by any single country'.

Potentially, massive implications, or rather repercussions, for the United States! Also, further profound support for a global currency and global currency regulation. Of course the end objective is a diabolical new world order and one world government!

It seems to me that this is the Chinese NWO contingency proposing the 'solution' in true NWO style. A global currency will give them TOTAL control of the world economies.

The amount of investment made by China in the Western Economies gives them all the power and control to demand and ensure such thigs are implemented.

What price wars in the ME?

When the Dollar does lose its status as reserve currency, watch out for the hyperinflation.

This is the beginning of the end for Western society.

Originally posted by Cobaltic1978
The amount of investment made by China in the Western Economies gives them all the power and control to demand and ensure such thigs are implemented.

What price wars in the ME?

When the Dollar does lose its status as reserve currency, watch out for the hyperinflation.

This is the beginning of the end for Western society.

Indeed, I have been saying for some time now that a crisis point is going to come soon that will cause the East and West to merge somehow. This very well could be the key to it happening.

Ahh the Chinese curse is coming to the fore... "May you live in interesting times..."

reply to post by surrealist


China has a shortsighted view... the "Credit/Debt addiction" is just a method of both transferring wealth/ making money flow thus creating a broad range of needs & desires among the population with the money velocity.


i would say that the central planners in China are creating a hoarding class with their insistance that the commoners there buy their own stash of Gold (i guess instead of being consumers)

+++

the idea of being a Saver population might seem a proper thing...
but, IMHO, there may just be some sinister component that may get played against these trusting peasants & new 'middle class' in the not too distant future.

Yep, the Chinese head fake.
Help create an unstable US, buy vast amounts of US debt at low prices, help the US stabilize and usher in a new world order via China.


But, I am sure Obama's foot stomping will get louder, blame someone else like Bush or the evil Tea Party and really not correct the issue.

Originally posted by Cobaltic1978
The amount of investment made by China in the Western Economies gives them all the power and control to demand and ensure such thigs are implemented.

What price wars in the ME?

When the Dollar does lose its status as reserve currency, watch out for the hyperinflation.

This is the beginning of the end for Western society.

No. But its probably the beginning of the end for the dominance of western society and its going to hurt the average man a great deal. The British pound was once the primary reserve currency of the world.

Welcome to the fallen superpower club, we kept you a seat at the bar.

Everyone if you haven't done so, start stocking up on food and water now, and lots of it. TS hitting TF has never been at a higher probability. Women, if you don't have a husband, you'd best find a nice strong one, and quick. Everyone prepare for imminent doom. TS hitting TF may not happen, and it may. It's hard to tell exactly what is going to happen. One thing is for sure, this is very bad. Expect your standard of living to downgrade significantly starting in the near future. The greatest depression is now visible.

The China CCP dictatorship gov is once again talking through its own butt crack.

One world currency? Just like what Europe tried to do with the Euro and now mired in sh&T? One world currency, with China, a country that has no rule of law, keep themselves immensely rich while the rest of the nation starved of social expenditure? One world currency, with the likes of Brazil and India or with arab states' wealth backing printed notes?

Dumb ass commies....

Today, as we saw investors fleeing the casino stock markets, many of them crammed their funds into US banks that paid no interest, and heck! even paying US banks interest to hoarde their money. I believed many of the wealthy china citizens had crammed their hoarde in US too. Guess when push comes to shove, they trust US governance system of check and balance, accountability, rule of law and military might, even though not an utopian perfection but far better than anywhere else in the world.