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Link Posted: 3/14/2016 10:52:40 AM EDT
[#1]
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Brad Thor says China will deploy EMPs prior to launching an invasion, in order to collect. That is unless Scot Harvath can save the day.
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Tell China to fuck off and bring it...
Link Posted: 3/14/2016 10:56:59 AM EDT
[#2]
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You wake up one morning and all the Chinese restaurants are closed down until paid in full.
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Who eats Chinese food for breakfast?
Link Posted: 3/14/2016 10:58:54 AM EDT
[#3]
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Tell China to fuck off and bring it...
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Brad Thor says China will deploy EMPs prior to launching an invasion, in order to collect. That is unless Scot Harvath can save the day.


Tell China to fuck off and bring it...

Of course, I'm sure we could do the same to China, but a less developed nation is not as adversely impacted as a developed and complex society such as our own (or Western Europe).  

Don't think it's going to be all rosy when the fuel trucks stop running, water isn't coming out of the tap, food isn't delivered, people die because of the lack of medical care, rioting erupts for the basics like food & water, and Arfcom is down because there is no interweb.  I dread that day and millions will die before a single foreign soldier steps foot on our soil.  

War is horrible and I don't wish it on anyone.  
Link Posted: 3/14/2016 10:59:39 AM EDT
[#4]
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Who eats Chinese food for breakfast?
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You wake up one morning and all the Chinese restaurants are closed down until paid in full.


Who eats Chinese food for breakfast?

That stuff (dim sum) is expensive.  You can go broke eating like that.
Link Posted: 3/14/2016 11:53:49 AM EDT
[#5]
nothing, they are getting a raw deal. it will be equivalent to them writing off the debt. they will stop trading with us and just forget about the whole thing.

then our stores shelves will be quite light. and not as cheep.
Link Posted: 3/14/2016 11:56:31 AM EDT
[#6]
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Quoted:
nothing, they are getting a raw deal. it will be equivalent to them writing off the debt. they will stop trading with us and just forget about the whole thing.

then our stores shelves will be quite light. and not as cheep.
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And then China completely collapses...
Link Posted: 3/14/2016 11:59:19 AM EDT
[#7]

Quoted:


We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?
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China could, with their allies George Soros, Goldman Sachs, and the Clinton foundation BUY the GOP and DNC, and a shitload of television stations.

 
Or do they already own all that shit?
Link Posted: 3/14/2016 12:03:27 PM EDT
[#8]
If China FUBARS our economy totally they won't sell nearly as many cellphones, cheap ass tools, shoes and plastic bullshit as they do now.
Link Posted: 3/14/2016 12:04:53 PM EDT
[#9]
They sell us a bunch of shit. Some of the money comes back in exchange for US debt.

Some comes back to................

Starwood Hotels & Resorts (NYSE:HOT) is up 6.8% to trade just a shade below the new $76/share offer that came in from this morning from a consortium led by Anbang Insurance Group. The Chinese insurance concern is in the mix to buy Strategic Hotels and Resorts (BEE) and already owns an iconic U.S. property with the Waldorf-Astoria Hotel in its back pocket.
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US Presidents have historically used the Waldorf when in NYC. There is/was even a Presidential Suite. Last I heard, after the chicoms bought it Presidents found other digs. Obama Won't Stay at Chinese-Owned Waldorf-Astoria.

I imagine the security conscious President Hillary would continue the boycott.
Link Posted: 3/14/2016 12:08:08 PM EDT
[#10]
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And then China completely collapses...
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nothing, they are getting a raw deal. it will be equivalent to them writing off the debt. they will stop trading with us and just forget about the whole thing.

then our stores shelves will be quite light. and not as cheep.


And then China completely collapses...

Why? All they are doing now is trading the tangible goods the produce with their hands for the money we print on a press.

Why not trade with each other in-country? Why not consume their own goods? Why not use their own phones? The US benefits in the short term from their communistic tendencies, but now there is a large unbalance of trade. Built on bad promises.
Link Posted: 3/14/2016 12:09:04 PM EDT
[#11]
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China could, with their allies George Soros, Goldman Sachs, and the Clinton foundation BUY the GOP and DNC, and a shitload of television stations.   Or do they already own all that shit?
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China could buy and control all those stations tomorrow and the programming slant would likely shift to the right substantially.  
Link Posted: 3/14/2016 12:11:19 PM EDT
[#12]
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Who eats Chinese food for breakfast?
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You wake up one morning and all the Chinese restaurants are closed down until paid in full.


Who eats Chinese food for breakfast?


A billion and a half Chinese people.
Link Posted: 3/14/2016 12:11:45 PM EDT
[#13]
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Why? All they are doing now is trading the tangible goods the produce with their hands for the money we print on a press.

Why not trade with each other in-country? Why not consume their own goods? Why not use their own phones? The US benefits in the short term from their communistic tendencies, but now there is a large unbalance of trade. Built on bad promises.
View Quote


Because the market there doesn't support that sort of consumerism.  The reason shit gets made over there is because labor is cheap... and cheap labor doesn't consume non-essential stuff reliably.  And if the regular people there ever do get enough power to be a real viable market, they aren't going to let a bunch of old commies tell them how to live anymore.

PRC is a powder keg.
Link Posted: 3/14/2016 12:11:59 PM EDT
[#14]
*** beats head into wall ***
Link Posted: 3/14/2016 12:14:37 PM EDT
[#15]
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Who eats Chinese food for breakfast?
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You wake up one morning and all the Chinese restaurants are closed down until paid in full.


Who eats Chinese food for breakfast?



It is called an EGGroll.
Link Posted: 3/14/2016 12:16:02 PM EDT
[#16]
We will give them land and mineral rights and then supernational rights inside our country like Africa does....
Link Posted: 3/14/2016 12:16:21 PM EDT
[#17]
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This.
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Pretty significant amount of our debt is not owned by the Chinese -- it's owned by us.  Yes, that's right, we buy our own debt.


This.


Not only that. The social security "trust fund" is the largest purchaser of U.S. debt. In other words, a huge chunk of the money that gets taken out of your paycheck to "fund" social security gets handed over to the government to pay for general operations. In exchange for the money taken out of your paycheck, the social security trust fund gets a bond from the U.S. government. How exactly do those bonds ever get paid back, and where does the money come from?

Marinate on that for a while.
Link Posted: 3/14/2016 12:16:28 PM EDT
[#18]
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How much physical gold is there in the universe to back a trillion dollar economy?
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They can sell all that paper debt and buy physical gold. Then once they converted everything, come out with gold backed renminbi as dollar goes down drain



How much physical gold is there in the universe to back a trillion dollar economy?


Well there is plenty in the Universe but here on planet earth there is not enough.
Link Posted: 3/14/2016 12:17:52 PM EDT
[#19]
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That's not really how it works.
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We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?
Dump about $300B of UST on the open market in 2-3 hours. We would give them whatever they wanted after that.
 


That's not really how it works.

Well, that would increase the cost of borrowing. If the market were flooded with US treasury notes, in order to sell more bonds, the treasury would have to pay a higher rate than the notes on the market.
Link Posted: 3/14/2016 12:20:34 PM EDT
[#20]
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Why? All they are doing now is trading the tangible goods the produce with their hands for the money we print on a press.

Why not trade with each other in-country? Why not consume their own goods? Why not use their own phones? The US benefits in the short term from their communistic tendencies, but now there is a large unbalance of trade. Built on bad promises.
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nothing, they are getting a raw deal. it will be equivalent to them writing off the debt. they will stop trading with us and just forget about the whole thing.

then our stores shelves will be quite light. and not as cheep.


And then China completely collapses...

Why? All they are doing now is trading the tangible goods the produce with their hands for the money we print on a press.

Why not trade with each other in-country? Why not consume their own goods? Why not use their own phones? The US benefits in the short term from their communistic tendencies, but now there is a large unbalance of trade. Built on bad promises.


You don't think that crippling your largest trade partner would hurt your own efonomy? If you're running a trade surplus with another country, odds are you're gonna be pretty fucked if their economy tanks. If you think the debt situation here is bad, it's even worse in China.
Link Posted: 3/14/2016 12:27:18 PM EDT
[#21]
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They are already collecting.  

They are buying companies and assets in the United States.
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Other places too....Australia.

We have a Dubai concern looking at a property.

Monetizng debt seems to spark productive real estate procurement.  The long game.
Link Posted: 3/14/2016 12:28:01 PM EDT
[#22]
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Quoted:

Why? All they are doing now is trading the tangible goods the produce with their hands for the money we print on a press.

Why not trade with each other in-country? Why not consume their own goods? Why not use their own phones? The US benefits in the short term from their communistic tendencies, but now there is a large unbalance of trade. Built on bad promises.
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Quoted:
Quoted:
Quoted:
nothing, they are getting a raw deal. it will be equivalent to them writing off the debt. they will stop trading with us and just forget about the whole thing.

then our stores shelves will be quite light. and not as cheep.


And then China completely collapses...

Why? All they are doing now is trading the tangible goods the produce with their hands for the money we print on a press.

Why not trade with each other in-country? Why not consume their own goods? Why not use their own phones? The US benefits in the short term from their communistic tendencies, but now there is a large unbalance of trade. Built on bad promises.


Because Chinese demand for Chinese goods isn't high enough to sustain the current level of production.
Link Posted: 3/14/2016 12:29:28 PM EDT
[#23]
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Bonds. Learn about them.  

The debt is owed to the market.  They sell notes on the market.  China buys them. So what?  China can not get tired of IOUs as you are saying.  We do not go to China and borrow money.  We sell bonds.  China buys them because they are more stable than their currency or banks.  That will not change for at least a Half-century.  When it does change it will because of US devaluation.

Bonds are a good scam and we get the better end of them as the seller.

The debt is a problem.  It's just not a problem with China.  It's a problem because we are overspending.

If/when China ever stops buying more bonds the interest payments will go up, we devalue more, stay in the same place over time.
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WTF....it's been devalued since it was taken off the gold standard.  Countries are and have been setting alternatives to using the dollar and as soon as Saudi's stop pegging a barrel of oil to it, WE ARE FUCKED.
Link Posted: 3/14/2016 12:34:29 PM EDT
[#24]
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WTF....it's been devalued since it was taken off the gold standard.  Countries are and have been setting alternatives to using the dollar and as soon as Saudi's stop pegging a barrel of oil to it, WE ARE FUCKED.
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Bonds. Learn about them.  

The debt is owed to the market.  They sell notes on the market.  China buys them. So what?  China can not get tired of IOUs as you are saying.  We do not go to China and borrow money.  We sell bonds.  China buys them because they are more stable than their currency or banks.  That will not change for at least a Half-century.  When it does change it will because of US devaluation.

Bonds are a good scam and we get the better end of them as the seller.

The debt is a problem.  It's just not a problem with China.  It's a problem because we are overspending.

If/when China ever stops buying more bonds the interest payments will go up, we devalue more, stay in the same place over time.

WTF....it's been devalued since it was taken off the gold standard.  Countries are and have been setting alternatives to using the dollar and as soon as Saudi's stop pegging a barrel of oil to it, WE ARE FUCKED.


You haven't seen anything yet.
Link Posted: 3/14/2016 12:34:47 PM EDT
[#25]
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Quoted:

WTF....it's been devalued since it was taken off the gold standard.  Countries are and have been setting alternatives to using the dollar and as soon as Saudi's stop pegging a barrel of oil to it, WE ARE FUCKED.
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Quoted:
Quoted:
Bonds. Learn about them.  

The debt is owed to the market.  They sell notes on the market.  China buys them. So what?  China can not get tired of IOUs as you are saying.  We do not go to China and borrow money.  We sell bonds.  China buys them because they are more stable than their currency or banks.  That will not change for at least a Half-century.  When it does change it will because of US devaluation.

Bonds are a good scam and we get the better end of them as the seller.

The debt is a problem.  It's just not a problem with China.  It's a problem because we are overspending.

If/when China ever stops buying more bonds the interest payments will go up, we devalue more, stay in the same place over time.

WTF....it's been devalued since it was taken off the gold standard.  Countries are and have been setting alternatives to using the dollar and as soon as Saudi's stop pegging a barrel of oil to it, WE ARE FUCKED.


Apparently the strongest economy the world has ever seen isn't a very good backing for a currency.  Instead, we need to rely on inert hunks of metal.
Link Posted: 3/14/2016 12:40:06 PM EDT
[#26]
All of our debt is denominated in dollars.  We can print all of those we want.

It would be like selling stuff to Hasbro, with Hasbro agreeing to pay you back in the future - with Monopoly money.
Link Posted: 3/14/2016 12:40:19 PM EDT
[#27]
I just wish we could have spent all this debt we racked up on military spending instead of more welfare.

Someday the Chinese might want to collect on their IOUs, but it wouldn't end well for them if they tried to repo our dozens of new Arleigh Burke destroyers, B-2 Spirits, and SSBNs.
Link Posted: 3/14/2016 12:45:21 PM EDT
[#28]
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How much do we owe them, and how much is our payment?
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We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?


How much do we owe them, and how much is our payment?


I didn't see this answered, so I'm quoting it.
Link Posted: 3/14/2016 12:52:54 PM EDT
[#29]
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They are already collecting.  

They are buying companies and assets in the United States.
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Smithfield ham/bacon etc
They bought them, and then they played up Smithfield's long history here, sense of tradition and all that.
But all the Ls sound like Rs...
Link Posted: 3/14/2016 1:00:46 PM EDT
[#30]
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I just wish we could have spent all this debt we racked up on military spending instead of more welfare.

Someday the Chinese might want to collect on their IOUs, but it wouldn't end well for them if they tried to repo our dozens of new Arleigh Burke destroyers, B-2 Spirits, and SSBNs.
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We did.

Link Posted: 3/14/2016 1:03:59 PM EDT
[#31]
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That stuff (dim sum) is expensive.  You can go broke eating like that.
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You wake up one morning and all the Chinese restaurants are closed down until paid in full.


Who eats Chinese food for breakfast?

That stuff (dim sum) is expensive.  You can go broke eating like that.


Shit yeah.  Dim Sum is like an assault buffet.  If you fail to assert dominance, those little old ladies will just start dropping food off and all you can do is "xie xie xie xie" and enjoy that third helping of chicken feet...
Link Posted: 3/14/2016 1:10:42 PM EDT
[#32]
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I just wish we could have spent all this debt we racked up on military spending instead of more welfare.

Someday the Chinese might want to collect on their IOUs, but it wouldn't end well for them if they tried to repo our dozens of new Arleigh Burke destroyers, B-2 Spirits, and SSBNs.

We did.

https://media.nationalpriorities.org/uploads/discretionary_spending_pie,_2015_enacted.png


Disingenuous graph is disingenuous... note that "discretionary" disclaimer.

This one (from the same folks actually) is more accurate a depiction of how our tax money goes way more to vote buying than anything else.



Link Posted: 3/14/2016 1:27:55 PM EDT
[#33]
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Us? or the federal reserve?
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Pretty significant amount of our debt is not owned by the Chinese -- it's owned by us.  Yes, that's right, we buy our own debt.


Us? or the federal reserve?


Both.  Social security tax surpluses (the program has run a surplus since inception) have been used to purchase treasuries.  That's the "lockbox", a promise to pay in the future what we spent in the past.
Link Posted: 3/14/2016 1:46:57 PM EDT
[#34]
Still waiting on an explanation of the "money lenders infiltrating and breeding" with the Indians.
Link Posted: 3/14/2016 1:51:25 PM EDT
[#35]
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Pretty significant amount of our debt is not owned by the Chinese -- it's owned by us.  Yes, that's right, we buy our own debt.
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So like, elect Bernie and then we can all forgive our own debt.

Link Posted: 3/14/2016 2:08:46 PM EDT
[#36]
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I didn't see this answered, so I'm quoting it.
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We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?


How much do we owe them, and how much is our payment?


I didn't see this answered, so I'm quoting it.


We "owe" them Treasury Bond maturations*.  There aren't any on-going payments, per se.  China buys treasuries every year and has done so for quite a while, so every year some of those bonds they bought years ago mature and become payable.  You could work out some kind of average payment rate if you wanted to, but it wouldn't be the same as the kind of interest payments you make on a credit card or house loan.   China owns ~8% of our total debt, by the way.


*This is how you tell experts from everyone else - jargon.  Treasury Bonds mature. I have no idea what the noun form of that is.  Experts almost certainly have a word they use for it.  I made one up.
Link Posted: 3/14/2016 2:37:22 PM EDT
[#37]
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A billion and a half Chinese people.
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You wake up one morning and all the Chinese restaurants are closed down until paid in full.


Who eats Chinese food for breakfast?


A billion and a half Chinese people.


See, that's the thing that's annoying about going to foreign countries like Italy for vacation.  Do you really want to eat Italian food every day?
Link Posted: 3/14/2016 2:40:52 PM EDT
[#38]
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Well there is plenty in the Universe but here on planet earth there is not enough.
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They can sell all that paper debt and buy physical gold. Then once they converted everything, come out with gold backed renminbi as dollar goes down drain



How much physical gold is there in the universe to back a trillion dollar economy?


Well there is plenty in the Universe but here on planet earth there is not enough.


Let me guys let you in on a secret: as demand rises, so does price

Any currency that allows conversion into PM will immediately become the premier currency over one that is backed only by some nonsense like the 'full faith and credit/taxing authority'

Do you counterparty risk broski?
Link Posted: 3/14/2016 2:41:00 PM EDT
[#39]
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  Do you really want to eat Italian food every day?
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Yes!

I lived there for 18 months of a 2 year tour (6 months in the shipyard in France) and would happily eat nothing but authentic, local Italian food for the rest of my life.  I've been to 50+ countries and nobody does food better than the Italians.
Link Posted: 3/14/2016 2:42:31 PM EDT
[#40]
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I just wish we could have spent all this debt we racked up on military spending instead of more welfare.

Someday the Chinese might want to collect on their IOUs, but it wouldn't end well for them if they tried to repo our dozens of new Arleigh Burke destroyers, B-2 Spirits, and SSBNs.

We did.

https://media.nationalpriorities.org/uploads/discretionary_spending_pie,_2015_enacted.png


LOL that pie chart doesn't show the real problem.  Having a military is a Constitutional function of the federal government.  The pie chart needs to show the mandatory spending which is the majority of the budget, and which is NOT mandatory per the Constitution.  Military spending is now under 20% of total federal spending.  

We've gone into debt to pay Medicare and Social Security.  We've loaded the young and the unborn with debt from the start, just to transfer money to old and sick people who never contributed sufficiently to what they will consume.
Link Posted: 3/14/2016 2:42:42 PM EDT
[#41]
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Let me guys let you in on a secret: as demand rises, so does price

Any currency that allows conversion into PM will immediately become the premier currency over one that is backed only by some nonsense like the 'full faith and credit/taxing authority'
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They can sell all that paper debt and buy physical gold. Then once they converted everything, come out with gold backed renminbi as dollar goes down drain



How much physical gold is there in the universe to back a trillion dollar economy?


Well there is plenty in the Universe but here on planet earth there is not enough.


Let me guys let you in on a secret: as demand rises, so does price

Any currency that allows conversion into PM will immediately become the premier currency over one that is backed only by some nonsense like the 'full faith and credit/taxing authority'


Any currency that allows conversion into PM will immediately by assaulted by the rest of the world.
Link Posted: 3/14/2016 2:46:10 PM EDT
[#42]
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Quoted:We've gone into debt to pay Medicare and Social Security.
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No.  We have promised to go into debt to pay Social Security.  SS has run a surplus since inception and that surplus has funded other federal government spending via the purchase of Treasuries.  We're a few years away from taking money from the general fund to pay SS bills, but it's coming.

SS is relatively manageable if the Congress has the political will to increase the age where benefits are paid.  SS disability is another animal I think though.


SS is a Ponzi scheme as currently run, but the growing number of worker relative to beneficiaries initially and the increased tax rate lately have pushed back the tipover point.
Link Posted: 3/14/2016 2:49:12 PM EDT
[#43]
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they can't we should double the size of our attack sub fleet and tell them to wank off.  but China is not our only debt holder Korea, Japan & other valued allies buy our debt too.  

I personally we should offer to pay off the debt in food we are the largest exporter of 25-39 crops or meats China exports toasters but not food.
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We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?



they can't we should double the size of our attack sub fleet and tell them to wank off.  but China is not our only debt holder Korea, Japan & other valued allies buy our debt too.  

I personally we should offer to pay off the debt in food we are the largest exporter of 25-39 crops or meats China exports toasters but not food.

Not that any of what you said makes any sense, but China does indeed import food into the U.S.
Link Posted: 3/14/2016 2:53:30 PM EDT
[#44]
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Not that any of what you said makes any sense, but China does indeed import food into the U.S.
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We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?



they can't we should double the size of our attack sub fleet and tell them to wank off.  but China is not our only debt holder Korea, Japan & other valued allies buy our debt too.  

I personally we should offer to pay off the debt in food we are the largest exporter of 25-39 crops or meats China exports toasters but not food.

Not that any of what you said makes any sense, but China does indeed import food into the U.S.


It is physically impossible for China to import food into the US.
Link Posted: 3/14/2016 2:54:34 PM EDT
[#45]
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Quoted:


Who eats Chinese food for breakfast?
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Quoted:
Quoted:
You wake up one morning and all the Chinese restaurants are closed down until paid in full.


Who eats Chinese food for breakfast?

Chinese people.
Link Posted: 3/14/2016 2:57:00 PM EDT
[#46]
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No.  We have promised to go into debt to pay Social Security.  SS has run a surplus since inception and that surplus has funded other federal government spending via the purchase of Treasuries.  We're a few years away from taking money from the general fund to pay SS bills, but it's coming.

SS is relatively manageable if the Congress has the political will to increase the age where benefits are paid.  SS disability is another animal I think though.


SS is a Ponzi scheme as currently run, but the growing number of worker relative to beneficiaries initially and the increased tax rate lately have pushed back the tipover point.
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Quoted:We've gone into debt to pay Medicare and Social Security.


No.  We have promised to go into debt to pay Social Security.  SS has run a surplus since inception and that surplus has funded other federal government spending via the purchase of Treasuries.  We're a few years away from taking money from the general fund to pay SS bills, but it's coming.

SS is relatively manageable if the Congress has the political will to increase the age where benefits are paid.  SS disability is another animal I think though.


SS is a Ponzi scheme as currently run, but the growing number of worker relative to beneficiaries initially and the increased tax rate lately have pushed back the tipover point.


Only if you buy that "on books"/"off books" budgeting that the Treasury department does.  Total federal income - total federal expenditures = deficit.  Largest component of expenditures is SS/Medicare and similar wealth transfer payments.
Link Posted: 3/14/2016 2:58:37 PM EDT
[#47]
well if we collect on all the countries that owe us money we would  be ok for a few months  
Link Posted: 3/14/2016 2:59:23 PM EDT
[#48]
Quoted:
We are in debt, we are getting deeper in debt. China owns a ton of that debt. I would have to think they will eventually get sick of IOUs. What can they do to get their money back?
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The business is not the idea of getting your money back, the business is getting the interest.



Like a credit card... banks don't want you to pay the card off, they want you to let the balances vegetate while accruing interest, they only want you to really pay the interest... this is the reason why minimum payments are so small.... they really would be quite happy if you never paid your balance off.
Link Posted: 3/14/2016 3:05:25 PM EDT
[#49]
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Quoted:
Only if you buy that "on books"/"off books" budgeting that the Treasury department does.  Total federal income - total federal expenditures = deficit.  Largest component of expenditures is SS/Medicare and similar wealth transfer payments.
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Social Security tax inflow has exceeded social security expenditures since program inception.  In 2013, SS taxes totaled $855B.  95% of that money was paid to beneficiaries.  3.8% of that money was "trust fund increase" i.e. used to purchase treasuries to fund the federal government.  Social Security is not breaking the country today; it's the promises to pay a growing retiree class that has a growing lifespan.  SS is a manageable problem with political will.  Medicare, not so much.
Link Posted: 3/14/2016 3:07:21 PM EDT
[#50]
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Quoted:
nothing, they are getting a raw deal. it will be equivalent to them writing off the debt. they will stop trading with us and just forget about the whole thing.

then our stores shelves will be quite light. and not as cheep.
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ding ding ding.....tell them to go pound sand.....not much recourse...go park your money elsewhere...its not quite that simple but you get the jest
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