America face default - good time for China to go to war.
http://www.reuters.com/article/2011/07/13/us-usa-ratings-moodys-idUSTRE76C6PT20110713
Moody's is the first of the big-three credit rating agencies to place the United States' Aaa rating on review for a possible downgrade, meaning the agency is close to cutting the country's rating.
Standard & Poor's placed the U.S. rating on negative outlook on April 18 which meant a downgrade is likely in 12-18 months.
A lower credit rating would cause havoc in financial markets around the world and increase borrowing costs for the government and businesses, further harming public finances and weighing on the economic recovery.================================
http://www.businessinsider.com/henry-blodget-china-terrified-us-will-default-on-debt-2009-3China Terrified U.S. Will Default on Debt
Henry Blodget|Mar. 13, 2009, 5:04 PM
The U.S. will likely default by triggering hyper-inflation, obliterating the value of the $1 trillion that the U.S. owes China. This tactic will also obliterate U.S. citizens who have been dumb enough to
save money, of course, but better that (from the government's perspective) than drowning voters in mountains of debt.
NYT:“President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.”
===================I have always said that China is unwise to accumulate so much forex reserve. It squanders so much energy and resources while neglecting to develop its own technologies and its internal economy through the urbanization of the farmers or rural residents. Now China is facing either a quick loss of its dollars through default or a slow loss through the devaluation of its dollar holding relative to the yuan.
Also, with this background it is obvious that America cannot afford to fight a war with China. Therefore, China should use this opportunity to regain its sovereign territories from the 4 small thugs in S. E. Asia.
Moody's is the first of the big-three credit rating agencies to place the United States' Aaa rating on review for a possible downgrade, meaning the agency is close to cutting the country's rating.
Standard & Poor's placed the U.S. rating on negative outlook on April 18 which meant a downgrade is likely in 12-18 months.
A lower credit rating would cause havoc in financial markets around the world and increase borrowing costs for the government and businesses, further harming public finances and weighing on the economic recovery.================================
http://www.businessinsider.com/henry-blodget-china-terrified-us-will-default-on-debt-2009-3China Terrified U.S. Will Default on Debt
Henry Blodget|Mar. 13, 2009, 5:04 PM
The U.S. will likely default by triggering hyper-inflation, obliterating the value of the $1 trillion that the U.S. owes China. This tactic will also obliterate U.S. citizens who have been dumb enough to
save money, of course, but better that (from the government's perspective) than drowning voters in mountains of debt.
NYT:“President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.”
===================I have always said that China is unwise to accumulate so much forex reserve. It squanders so much energy and resources while neglecting to develop its own technologies and its internal economy through the urbanization of the farmers or rural residents. Now China is facing either a quick loss of its dollars through default or a slow loss through the devaluation of its dollar holding relative to the yuan.
Also, with this background it is obvious that America cannot afford to fight a war with China. Therefore, China should use this opportunity to regain its sovereign territories from the 4 small thugs in S. E. Asia.
http://www.peopleforum.cn/viewthread.php?tid=110408&extra=page%3D1
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