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As they said in Oklahoma during the S&L Crisis; if you owe the bank $1,000, the bank owns you. If you owe the bank $10,000,000 you own the bank. If China were a bank, we'd own it too.
Could be he's trying to send a message to Congress to stop spending ?
They haven't listened to him for 2 years now.
And it's not a secret about China's debt holdings; just not very publicized about the agency bonds. If those Congressmen/women don't read their own laws they probably don't read anyone else's reports.
Ownership and possession are two very different things. We did not post our country as collateral so they do not own us in any way. If by some error they try and take possession they will learn that we are a well armed nation with a very big Military. Hell, I do not approve of foreign ownership of ANY of our natural resources. They can buy our minerals but not own the mines.
I never approved of Reagan's shift from a balanced budget supported by a progressive income tax to a huge debt supported by nothing. Our uppermost class is more than rich enough to pay for maintaining the country they own. It is past time they did. I also did not approve of ANY of our escapades in the Middle East or the political support of a Feudal Kingdom called Saudi Arabia.
How can that be..that is because China holds a big, really big position in mortgage bonds. That figure is not plastered on the MSM as much as their Treasury position. The Fed has surpassed China with Treasury holdings.
And now you know why the government is so keen on getting the home bubble going again and why they are so keen to help homeowners keep those mortgage payments coming.
China probably owns 50% if not more of American homes I'll wager.
From your link:
".. China watchers such as Scissors, who says Chinese holdings of Treasury and agency debt – that issued by the mortgage investors Fannie Mae and Freddie Mac – likely range between $2 trillion and $2.5 trillion."
Quote:
Originally Posted by kevinm
What would happen is the Chinese would get title to most of America's parks and real estate as payment.
And it's evident in places like Australia and Vancouver, where Chinese money has overheated these property markets to the point that they are ready to burst at the seams any moment. I've been tot he Vancouver forum before and the locals there say the Vancouver property market is really up and unaffordable to do buying (I assume speculative) from HK/Chinese money. Australia is the same way right now. Lot of Chinese investors speculating on Australian real estate, pushing property prices far up what normal people on normal incomes can afford.
How can that be? I thought the overwhelming amount of our debt is owed to ourselves? LOL
Are you really referring to our President as Uncle Ben?? You don't see that whatever so called message you are trying to get across is colored by the reality that you are a racist?? AND you don't even have any shame about it...
Are you really referring to our President as Uncle Ben?? You don't see that whatever so called message you are trying to get across is colored by the reality that you are a racist?? AND you don't even have any shame about it...
Your so tied up in racist values, you blew right past Ben Bernanke.
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