USA GET YOUR ECONOMY IN ORDER & PROTECT OUR ASSETS OR WE WILL SIEZE FORT KNOX
“We hope the US side will take the necessary measures to stabilise the economy and financial markets as well as guarantee the safety of China’s assets and investments in the US.” READ FULL STORY
Chinese officials urged the United States to further stabilize its economy and protect the mainland's US dollar-based investments as the two sides opened cabinet-level economic talks in Beijing for first time following the global financial crisis.
"We hope the US side will take the necessary measures to stabilize the economy and financial markets, as well as to guarantee the safety of China's [US dollar-based] assets and investments in the United States," Vice Premier Wang Qishan told the fifth China-US Strategic Economic Dialogue yesterday.
US Treasury Secretary Henry Paulson, who initiated the talks since 2006, said the two days of dialogue would focus on the building blocks for an enduring bilateral economic partnership.
China is believed to be holding the biggest proportion of its US$2 trillion (HK$15.6 trillion) foreign exchange reserve in US dollar-based assets.
Paulson, meanwhile, is expected to press the Chinese side for a stronger yuan to help reduce the US trade deficit figure.
Two days of yuan depreciation against the US dollar just before this round of dialogue triggered market speculation that China had changed its currency exchange position, which could help exporters by pulling down prices for more orders. READ FULL STORY
USA's largest creditor, China is wanting it's USA assets protected. In September of this year China surpassed Japan to become our largest creditor. According to the Washington Post Article on November 19, 2008, China's new status--it holds every $1 out every $10 in USA public debt. That means its holding is so vast that the existence of a larger stakeholder is unlikely. China's investment in US Treasury Bonds is over $585 Billion. Not to mention the $2 Trillion in US dollar-based assets in foreign exchange reserves. China is a huge stakeholder in the US economy. China wants the USA to get it's financial house in order.
Why is China worried? Have they not gotten the news, that Barack Obama has been elected President of the United States. Why are they even talking to Paulson? China should be talking with The Office of the President-elect appointment to US Treasury, Mr. Timothy Geithner, or even Obama's economic team.
China do not worry, Obama has a plan, and that plan will involve the USA's Gold Reserve. According to the World Gold Council the USA is the largest holder of Gold Reserves at 8133.5 tonnes which represents over $202 Billion worth of gold at todays close. China you are at a measly 600 tonnes in gold reserves, number 9 in the world. Mr. Obama will trade your $585 Billion in US Treasury bonds for all the gold in Fort Knox $202 Billion, in fact, Obama knows you will eventually want this deal, maybe not today, but after Obama is sworn in as the 44th President and, Mr. Obama will resurrect this economy with a socialistic agenda. So in the meantime rest assured your assets are very safe in Kentucky at a place called Fort Knox.