[size=16pt]U.S. Debt clock..[/size]

For real time activity, http://www.usdebtclock.org/


BEIJING –With days to go before the United States debt default deadline, Beijing aired its frustrations with the shutdown Sunday, saying it was time to consider a “de-Americanized” world order.

With $1.28 trillion in U.S. Treasuries, China is easily the biggest foreign holder of American debt.

China has also funneled billions of dollars into private American investments – to the tune of an estimated $54 billion in 2012 alone.

“As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world,” according to a stinging op-ed article by state news agency, Xinhua.
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The article, published Sunday, conveyed Beijing’s frustration with the spending and debt impasse that has paralyzed Washington for more than two weeks.

"Days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing,” the piece added.

Should Congress not come to an agreement by Thursday’s deadline on a new raised debt ceiling – the upper limit set by Congress on the amount of money the Federal government may borrow – China’s potential losses stand to be devastating.

Prior to Sunday’s commentary article, Chinese officials had been more measured in their analysis of the U.S. budget impasse. Last week, Vice-Finance Minister Zhu Guangyao noted only that “we have to see that the clock is ticking.”

To many in China, the restraint on the part of China’s ruling Communist Party over its second-largest trade partner’s government problems was perhaps based in the belief that neither party, Democrat or Republican, would allow the U.S. to not honor its financial obligations.

“If we are really rational, I cannot imagine why someone would dare to bear this kind of responsibility because any real default will have a huge impact not only on the U.S. and China, but on the global economy,” said Professor Zhao Longkai, a dean at the Guanghua School of Management at Beijing University. “It’s hard for us to imagine anyone can be that crazy to push the limit to that level.”

Zhao said the patience China had shown until recently was rooted not only in Beijing’s confidence in America’s ability to deal with the budgetary crisis, but also its own burgeoning self-confidence.

“For average Chinese people [the budget crisis] is a show there and we’ve seen it before… we also know that it's not only the United States that we are relying on, we have a lot of other investments,” Zhao said.

The Xinhua commentary may raise eyebrows in Washington, but Beijing’s frustration underscores a key point: Despite a desire to diversify its holdings, the Chinese government continues to buy U.S. Treasury bonds out of political and economic necessity.

As long as China’s domestic growth and stability are boosted by American debt, the deep ties between the two countries will likely endure.

It is no surprise that the U.S. is in serious limbo, same thing I was bickering about few weeks ago, the U.S. Debt pose a serious meltdown to the global economy, this time around, it's dragging China, Japan as well as other nations holding its securities. This has been argued several times, it's been confirmed in the last sentence, Chinese economy revolves around U.S. Stability. My sincere advise to our dear country Nigeria and the CBN, Nigeria isn't that rich enough to loose $1billion let alone several tens of billions of $$$ held in U.S. Currency reserves, I join the Chinese people

It's time for the world to be De-Americanized

China's worries are legitimate but it is a matter of time before the US gives way for Economy based on money, NOT currency. It is also time we deliberate on the next fiat currency. Nothing lasts forever. This is just the beginning of the end of the empire.

Billyonaire: China's worries are legitimate but it is a matter of time before the US gives way for Economy based on money, NOT currency. It is also time we deliberate on the next fiat currency. Nothing lasts forever. This is just the beginning of the end of the empire.

Exactly!

As for me, I'd say let's gradually introduce the gold trading/exchange system. We need a system with "VALUE" and not some fiat currency that holds the world hostage. I like the U.S., but it's time to call a spade a spade. I just don't know what currency you're gonna trade with, the Yuan is definitely not a good option because they deliberately devalue their currency, the Euro isn't really advisable because theirs isn't really stable. So which other currency do you suggest?

@ Frosbel, Obadiah 777 et al

What does the Books of Revelation, Daniel etc say about American's debt and its effect on the world ecomony in the Last Days Calender( what NL calls End Time Things!)?

manny4life:

Exactly!

As for me, I'd say let's gradually introduce the gold trading/exchange system. We need a system with "VALUE" and not some fiat currency that holds the world hostage. I like the U.S., but it's time to call a spade a spade. I just don't know what currency you're gonna trade with, the Yuan is definitely not a good option because they deliberately devalue their currency, the Euro isn't really advisable because theirs isn't really stable. So which other currency do you suggest?

Like You rightly stated, Chinese Yuan is no option because the Chinese Government can deliberately manipulate the value of their currency, the Euro is a no go area. I certainly suggest a Fiat Currency, but if we are to return to the era of money backed by gold deposits and not currency which has become one big ponzi scheme, then your guess is as good as mine. China has been hoarding Gold and stockpiling huge quantities of the precious metal in recent years, I think China saw this coming. The world needs a fiat currency sooner or later.

The Question I keep asking myself is; For how long will America keep raising their Debt Ceiling ? Is there any limit in the horizon ? Why does this whole thing look like a Ponzi to me ?

And other Questions are; Why does any President who has power and resource to push for a replacement of the dollar as OPEC trading currency get killed ? First it was Saddam Hussein, next was Ghaddafi ?

Now, came the BitCoin, that received massive DDOS attack on their servers ? Who is afraid of BitCoin ? To what end ?

Billyonaire:

Like You rightly stated, Chinese Yuan is no option because the Chinese Government can deliberately manipulate the value of their currency, the Euro is a no go area. I certainly suggest a Fiat Currency, but if we are to return to the era of money backed by gold deposits and not currency which has become one big ponzi scheme, then your guess is as good as mine. China has been hoarding Gold and stockpiling huge quantities of the precious metal in recent years, I think China saw this coming. The world needs a fiat currency sooner or later.

I knew back in 2011 or 2012 when they had meetings at the WBG, the BRICS nations gathered in a secretive meeting to initiate a worldwide trading currency, how successful that was, I really don't know. At least for now, the BRICS contribute at least 25% of the worlds output in terms of GDP, that's a lot for 5 nations, I think if other nations like the MINT nations as well as others sign on to this idea, when the U.S. is falling, it won't drag other nations along with it.

manny4life:

I knew back in 2011 or 2012 when they had meetings at the WBG, the BRICS nations gathered in a secretive meeting to initiate a worldwide trading currency, how successful that was, I really don't know. At least for now, the BRICS contribute at least 25% of the worlds output in terms of GDP, that's a lot for 5 nations, I think if other nations like the MINT nations as well as others sign on to this idea, when the U.S. is falling, it won't drag other nations along with it.

The Global Economy is facing a dilemma. It is a good idea for Nigeria to commence gradual conversation of our SWF and External Reserve to other currencies, the US Default could wipe out securities. Moments like this one, I keep thinking that Democracy isnt the best form of Government in 21st Century, makes me adore Chinese Political System.

Interesting points you guys have up there.

Hehe, oga all4naija, you don't have to care jare... if it doesn't float your boat, why care?

It affects me and thousands of Nigerians as well as many who travel to both U.S. and China for trade and commerce.

The Naira could be backed by precious metals, just like the Yuan

Billyonaire:

The Global Economy is facing a dilemma. It is a good idea for Nigeria to commence gradual conversation of our SWF and External Reserve to other currencies, the US Default could wipe out securities. Moments like this one, I keep thinking that Democracy isnt the best form of Government in 21st Century, makes me adore Chinese Political System.

Could or WILL?

You know how many people lost assets, savings, investments, etc in the past two years, and the debt crisis wasn't the problem? Most Americans defaulted back into the poverty line, Americans spending more than they earned, lots of stuff going on... Abeg, this debt crisis even if resolved soon, piling up debt pose a dangerous threat to the global economy. Once China finds other trading alternatives and if they are willing to cut their losses, well guess what, they will drop the U.S. like it's hot and the BOOMERANG will go into effect.

When am looking for a gud discussion, I come here. And u guys neva disappoint..
Most of us seem to be looking in the way of China nowadays..

"The IRS is the collection arm of the Federal Reserve and the Federal Reserve is the collection arm of the Rothschilds. The US money is the Rothschild piggy bank.
Andrew Jackson shut down the Central bank - he was poisoned.
Abe Lincoln issued greenbacks against the Rothschilds Central bankc- He was shot.
McKinley wanted to shut it down - he was shot.
JFK wanted to shut it down - he was shot.
RFK would have followed his brothers policies - he was shot.
Are we seeing a pattern here?
DISSOLVE THE FEDERAL RESERVE and a VAST MAJORITY of the debt will magically disappear!
The Federal Reserve is NOT FEDERAL and it is NOT A RESERVE. It is a PRIVATE CENTRAL BANK OWNED by the Rothchilds.
Eustace Mullins is very enlightening on this subject."

https://www.youtube.com/watch?v=RPBZtiOo1iw

^^
On point! The Federal Reserve is mainly a private bank, even though the President nominates it's Chairman.

Na so......dats b4 i comment

How can i make the front page?

ibrutex: How can i make the front page?

Get rid of your state governor. You will even make CNN front page in matter of minutes.

On a lighter mood, how does this got to do with Nigeria's inability to pay the state governments their statutory monthly allocation despite the SWF and external reserves ?

This is becoming complex. I hope the Naira could get back to its' spot of $1 = N0.96 after the 'DeAmericanization'

Debt

God bless American

all4naija: Whatever! Who give a hoot about that?

ignorant much

all4naija: Whatever! Who give a hoot about that?

I understand your frustration,you didn't need to read the analysis

.

Truth Remains that even if the Debt Ceiling is raised today, it means more borrowing by America, its means more debts accumulation, it therefore means that in the future, the climax will be reached and the bubble will affect the entire lenders to America. China and Japan will be affected, even Nigeria's Foreign Reserve and Sovereign Wealth Funds is in jeopardy.

America's debt, is America's burial in the near future, and means, Chinese Glory. By this time tomorrow, if there is no agreement reached by Republicans and OlBama to lift the debt ceiling, USA will be worth $30 billion dollars ONLY in cash.

The truth is that, it is no more safe to invest in America's Securities and Bonds, I say we run East, I say we run to China.

.

I'm only being enlighten by Billionaire and Mannylife here. I don't really know much about the whole shut down palava.