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China: Don’t even THINK about defaulting on your bonds, America!

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posted on Feb, 11 2014 @ 07:38 PM
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www.nbcnews.com...

China to U.S.: 'Clock is ticking' on deal to avoid default


First published February 3rd 2014

China's Vice Minister of Finance Zhu Guangyao, seen here at the G20 summit, is warning the U.S. a default on its debt would imperil the global economy.

A top Chinese official chided Washington on Monday about the government shutdown and the debt-ceiling impasse, fretting that the political gridlock could leave the economy of America's top foreign creditor in a jam.

Vice Finance Minister Zhu Guangyao told reporters that he understands the White House is working to resolve the double-edged crisis, but expressed impatience with the lack of progress.

"We have to see that the clock is ticking," Zhu said, according to Agence France Presse.

"The executive branch of the U.S. government has to take decisive and credible steps to avoid a default on its Treasury bonds," he said.

China holds $1.2 trillion in U.S. Treasury bonds, more than any other country. It also wants to protect its U.S. investments — $54 billion last year alone, according to one estimate.

Meanwhile other world leaders Monday were also voicing concern over America's internal strife.

At the Asia Pacific Economic Cooperation meeting in Indonesia on Monday, some present took on the issue of the U.S. government shutdown — and President Barack Obama’s absence at the summit.

Russian President Vladimir Putin said Obama was justified to skip the event given the issues he faces domestically.

“We see what is happening in U.S. domestic politics and this is not an easy situation,” Putin said, adding, “If I was in his situation, I would not come, either.”

But others were not as gracious. Malaysian Prime Minister Najib Razak said Obama had missed “a golden opportunity” to show regional leadership by skipping the summit.

Standing in for Obama, Secretary of State John Kerry tried to reassure APEC members of the United States’ commitment in the region.

“There is nothing that will shake the commitment of the U.S for the re-balance to Asia which President Obama is leading,” he said.

And at a separate conference in London, South Africa's finance minister said financial markets are getting nervous about the budget deadlock in Washington.

"This is clearly an issue that might go to the brink. All of us need nerves of steel at this point," Pravin Gordhan told Reuters. "We need to anticipate the worst and hope that we all have sufficient defenses in place."

Reuters contributed to this report.



China has warned the U.S. to knock off the QE and don’t even think about defaulting on your bonds
smaulgld.com...

Tsk tsk, what in the world is US doing?! First, it doesnt even show up at the Economic summit. Then, it passes a no-strings debt ceiling increase. As it stands,1/4 of America's assets are financed by China. Now they themselves are facing a deficit.. When will they eventually demand repayment?

Sky is the limit, folks! The ship is sinking anyways, so doesn't matter how much water we take on anymore =D attitude




posted on Feb, 11 2014 @ 07:49 PM
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reply to post by gardener
 


Best thing you can do is prep for the fall dude. Assume the position most necessary to your survival. That is to say, try to position yourself in a location where you can react quickly to a marshel law situation and save yourself and those you care about. Whatever's coming. It can't be good. It's just a matter of how fast the ship sinks at this point.



posted on Feb, 11 2014 @ 07:51 PM
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Too bad china economy is so attached to the western countrys that if the west falls, china will too.



posted on Feb, 11 2014 @ 08:00 PM
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I'm more concerned he sent Kerry to speak for him. He isn't careful with his words at all. - Obama will "leading" this thing - vs "Obama supports or wants to continue to play a significant role in this". I really think his ego gets in the way. People pick up on these things. Obama is not a global leader - he is a participant with many leaders. People don't want to hear us throwing around words like this when our leaders can't even handle their own homelife. Sorry - just seems arrogant to me at all turns.

We won't default with China. I'm sure China is more worried about the seeming disconnect with reality is all.



posted on Feb, 11 2014 @ 08:05 PM
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Obama truly believes that he can rule the World and that all Nations will bow to his magnificence. What he isn't seeing is that the World sees him for what he is...just another con man.

Not too much longer folks. It's all coming to a peak and unfortunately we will all suffer.

I just can't see how the people allowed this shyster in office for another term. 4 more years was all he needed to completely Destroy the US and take the globe with it.

Peace



posted on Feb, 11 2014 @ 08:41 PM
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China: "Don’t even THINK about defaulting on your bonds, America!"
America: "Oops..."

-Peace-



posted on Feb, 11 2014 @ 11:52 PM
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This is actually the least of China's worries. On the 1st of July a law passed by the US Congress kicks in and it states that all banks doing business and holding accounts in USD have to pay tax to the IRS. The response so far is that now there is a limit on transactions between the USD and other currencies. Here in CN there is a $5000 USD per month personal limit and a $10,000 USD business limit. Foreign businesses are forced to either do their transactions in CNY or other currencies which are not restricted.

If you are from the US, you cannot open n account since it will subject the bank to IRS taxation due to the use of the USD. If you live in the US or deal in USD, your goose is already cooked. CN has already been dumping the USD as fast as possible without collapsing the dollar. This is not doom porn, it's just the facts. The USD is being dropped like a hot potato on the global markets. Several major players are now doing business direct and bypassing the USD. Oil and gas can be currently purchased without the use of the petrodollar. This puts the T-Bonds in a very bad position, not to mention that the IMF may have began to issue their own Bonds independent of the USD too countries needing a loan.

It's not the matter of a default on the T-Bonds as that will not happen. It's a matter of them being made worthless as the dollar is removed from being the reserve currency which is already underway and the US's inability to print itself out of debt. Janet Yellen (Chairman of the FRB) has made it clear that it will be business as usual with the printing presses running at 110% and no debt ceiling limits. You just gota love the way she stands in front of everyone grinning like the Cheshire Cat. She knows exactly whats up!
edit on 2/12/2014 by pstrron because: spelling



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