THEY’RE NOT LAUGHING ANYMORE …
David Icke
Well, here we are.
China’s ‘economic miracle’, based on slave labour that undercuts production costs across the world, has produced a mountain of money which has been used to buy foreign debt. It holds in excess of one trillion dollars worth of US Treasury bonds (debt) and debt of the US government mortgage lenders, Fannie Mae and Freddie Mac, recently saved from collapse by political intervention.
But even this trillion dollars doesn’t nearly tell the full story because it doesn’t include Chinese investment in private US corporations and the use by the Chinese government of third parties to hide the extent of its holdings.
Put it all together and China is gaining ever more control of the US economy and it can use this power to destroy what is left of the American financial system. If it sells its massive dollar holdings the value of the ‘mighty dollar’ will plummet and if its debt is not repaid it can claim American assets, yes government assets, just as a bank forecloses on your house if you don’t make the payments.
And the United States is now ten trillion dollars in debt with more being added by the minute. The ‘superpower’ is essentially bankrupt and at the mercy of its overseas creditors – not least China.
Given that the plan is for a war involving North America, Europe, Russia and China this takes on even greater significance, as does the involvement in the trillion-dollar (open chequebook) ‘bail out’ of US Treasury Secretary Henry ‘Hank’ Paulson.
American financial and military power