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I found it more interesting that Swiss Banks would not take any more United States money. That was on another thread. Please don't take this as fact. I have been trying to find out if this is true. Anybody have a source.
I would like to add that we are a country with a lot of good people and a lot of talent. I hope everybody will stick together and help each other through whatever we are facing. I don't want socialism, but there is nothing wrong with loving and sharing with your neighbor. God bless you all.
I hope the OP's information is not correct and has been a mis understanding. I am not faulting the OP. He/she was posting info that they got from somewhere.
The U.S. has been borrowing much money for a long time to pay the National debt that has already been borrowed from foreign countries. Kind of like a refinancing deal.
China is one of the biggest lenders and one of the countries we owe the most money to according to the political leaders I have heard talk about this subject.
If the exchange or lending of money stops between countries I am afraid we are in serious trouble.
Hopefully that wont happen.
It's not correct! Do not add fuel to the fire and panic people, do not believe anything on the internet until you see hard factual proof! Can the OP please ask for this thread to be deleted?
These are typical hysterical type rumors that spread during a crisis. China currently holds $1.8 trillion equivalent US dollars in cash and bonds. They have tremendous interest in seeing the US survive the crisis as US remains their #1 customer for all the crap they make. China would be extremely foolish to make any move that further debases the dollar. They will suffer huge losses.
These are typical hysterical type rumors that spread during a crisis. China currently holds $1.8 trillion equivalent US dollars in cash and bonds. They have tremendous interest in seeing the US survive the crisis as US remains their #1 customer for all the crap they make. China would be extremely foolish to make any move that further debases the dollar. They will suffer huge losses.
UNLESS they found some way to replace our consumerism. I would have to imagine that the Chinese realize, after all this is sad and done, America will not be the same place it once was specifically as far as our consumerism nature is concerned.
Not saying these rumors are true. I am just saying, its not impossible given the right circumstances.
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Um...on that very same initially linked page....it says it's not true.
The China Banking Regulatory Commission (CBRC) on Thursday denied a newspaper report that it had told Chinese banks to stop lending to U.S. banks in the interbank market. A spokesman for the regulator strongly codemned the article in Thursday’s South China Morning Post, calling it irresponsible. “The CBRC has never, through any channel, issued a statement or told domestic commercial banks not to lend to or borrow from U.S. financial institutions,” the spokesman said in a statement on the agency’s website.
UNLESS they found some way to replace our consumerism. I would have to imagine that the Chinese realize, after all this is said and done, America will not be the same place it once was specifically as far as our consumerism nature is concerned.
Not saying these rumors are true. I am just saying, it's not impossible given the right circumstances.
In the past few years, many countries - even some two-bit South American countries - have been feverishly trying to diversify their international trade links, so imagine what the Chindia and others are doing.
Thinking about it this morning, I too have the feeling now that in the past few weeks or days the Chinese or the Arabs or some combination just told Mr Bush to go screw himself (can I write that on CD?).
I have no information to verify whether the Chinese have ordered their banks to stop lending to US banks on the interbank market, but why would some mass-media type dudes all of a sudden start screamin' at Americans to start hunkering down?
This story is posted on Drudgereport
China banks told to halt lending to US Banks !
Is this wrong !!!
Is this whole world going crazy???
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