This is disturbing news.
A Communist Party directive leaked to the Chinese-language edition of the Asia Times said dollar reserves should be limited to US Treasuries or agency mortgage debt such as Freddie Mac that enjoys Washington's implicit backing.
BNP Paribas said the move has major implications for global risk assets. "The message from Beijing is that we don't like this environment," said Hans Redeker, the bank's currency chief. [snip]
The exact break-down of China's holdings are a state secret but it is understood that SAFE bought large amounts of corporate debt as well as municipal and state bonds during the boom years of 2006 and 2007. Any move to liquidate holding of California debt at this crucial juncture could have serious implications.
http://www.telegraph.co.uk/...
It's official (well leaked official): the Chinese line of credit to America has been cut. California is fucked. Corporations will get hamstrung from this. The US government doesn't have any more creditors to save anybody anymore. Protectionism now rules the day. China, their multinational partners in crime, and their rigged currency, which has allowed for their great success, is burying the knive in America's back while we're on our knees. Not that we in our Republican-led arrogance don't deserve to be humbled but we as the citizens of America do have to live somehow and deal with this blow from China and their stateless terrorist partners in crime, Multinational Behemoth Inc.
The day of reckoning for American politicians, democratic and republican both who have been prostituting themselves for Multinational Behemoth Inc., has arrived.
This situation reminds me of the history of the Great Depression: once countries started implementing protectionist measures, the Depression kicked into high gear.
God I hope that's not what's happening.
What has to happen now is the rich have to pay for their mess. Or we take their money from them and pay for their mess. There are fewer and fewer creditors to borrow from. The poor don't have any more money to steal because the rich have already taken it, just look at the yawning income gap for proof of that.
It's time to stop raping and pillaging the planet and enriching despotic regimes like China and Multinational Behemoth Inc. It's time to take the planet back from these people before they kill us all or cause us all to kill each other.