Jesse interprets the Federal Reserve's request to issue its own debt, as a preparation for selective default on public debt issued by the Treasury.
Now then, cheat China (pop. 1.3 billion, army personnel 2.3 million)- or the UK (pop. 61 million, army personnel 100,000)? Tough call...
4 comments:
They will cheat the Chinese, because that was the plan right from the very start. They will break the Chinese economy just as they broke the Russian economy.
The US is already starting to move manufacturing production to India, whilst Western Europe is moving its production to Eastern Europe.
It was all part of a cunning long-term plan to break the Chinese Communists, orchestrated by a super-power that shares no national border with China but bears long-term grudges over Vietnam and Korea.
Most interesting, Anon. It's just that the UK has been diddled by the US at least twice already, once in a load of crooked land deals in the 19thC and then again when we lost all our gold and had to get well into hock to save Europe and enrich American industry. Also, I'm not sure how broke Russia is, or how safe it would be to welch on China today.
There are plenty with the Chinese Communist Party who will see the present economic crisis as an opportunity to settle old scores with the leadership. They will criticise those that have pursued the American Dream and use this as a means of weakening their position. China doesn't have an "infallible" "Great Leader" that squashes all opposition. It will turn in on itself, rather than lash out at external sources of its current troubles.
They have nukes, though. The last thing we need is another politically unstable regime, especially one that represents a significant fraction of humanity - and is surrounded by other nutcase/basketcase polities.
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