posted on Jun, 21 2012 @ 06:59 AM
In March 2009, China and Russia suggested the world adopt a single global currency. The goal would be to create a reserve currency “that is
disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using
credit-based national currencies."
In other words, China is sick off the world economy being at the mercy of the bumbling criminals that run the United States. They are also sick of the
United States and its people getting a free ride. On the backs of the rest of us. So am i. So are many.
China, the largest creditor of the world's sole superpower, has every right now to demand the United States to address its structural debt
problems and ensure the safety of China's dollar assets.
I agree. China does have every right to demand that the US address its dysfunctional government. We all have the right to demand that the US be
responsible since they are to blame for causing the GFC. The US is the problem, not the solution.
International supervision over the issue of U.S. 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.
The U.S. 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.
Instead of heeding the warnings of China and others, the US has continued to add to their debt. Their audacity knows no bounds. They spit in the face
of the rest of the world by refusing to address their problems. The global MSM thinks they can use countries like Greece as a scapegoat. It is clear
who the real problem is. It is clear who needs to be cut loose. International supervision of the status of the USD and international supervision of
the decisions made by the US government is a must. They have proven that they cannot be trusted. There is talk of another US credit downgrade in 2013
S&P has already indicated that more credit downgrades may still follow. Thus, if no substantial cuts were made to the U.S. gigantic military
expenditure and bloated social welfare costs, the downgrade would prove to be only a prelude to more devastating credit rating cuts, which will
further roil the global financial markets all along the way.
"We expect that a sudden fiscal adjustment could occur if all current tax and spending provisions, set to either expire or take effect near the
end of 2012, go forward in accordance with current law," S&P said on Friday.
hmm. We have Bernanke and the Federal Reserve pull the strings of the economy, independent of Washington and basically giving orders to the US
politicians. And we also have Ratings Agencies advising on policy. We also have the Suprem Court, or 'unelected group of people' as Obama calls them,
that has power over US politics. Then we have a US congress that will not compromise so they fail to pass even a budget. And they wheel out the joke
idea of a 'Super Commitee' to top it off. US politics is a very bad joke.
S&P said the U.S. economy still faces "significant" risks, adding that "we believe the risk of returning to recession in the U.S. is about 20
"about 20 percent"
Ok losers. Thats sounds about right.
It is stupid to me that MSM is using Greece and in a broader sense, the whole of Europe as the scapegoat for the economic problems facing the West.
The United States destroyed the West causing the GFC. The United States continues to ignore warnings from the rest of the world to live within their
means. The United states cannot be trusted with the reserve. The United States cannot be trusted to do the right thing.
edit on 21-6-2012 by
Germanicus because: (no reason given)