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Saturday, May 19, 2012

Just when you thought things couldn't get more screwy

China's secret? It owes Americans nearly $1 trillion

This ought to disorient Deficit Terrorists & gold bugs alike.  Are we REALLY borrowing our own currency from people who owe us "money" ... ?

Heck, this should really be syndicated as a soap opera.
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6 comments:

  1. paul meliMay 19, 2012 at 10:08 PM

    That's nearly as much as the current U.S. "debt" held by the Chinese.

    China has ALL the principal in either case.

    I would venture to say Europe and Japan also owe us a lot of debt that was forgiven.

    Why didn't it break us?

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  2. Matt FrankoMay 20, 2012 at 8:46 AM

    Roger this is fascinating.

    These deals must have been done with Chiang's China....

    Resp,

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  3. mike normanMay 20, 2012 at 8:52 AM

    This is really cool!

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  4. Roger EricksonMay 20, 2012 at 1:15 PM

    My bet is they borrowed a Platinum Coin from us, and got swindled on the valuation. :)

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  5. beowulfMay 20, 2012 at 10:17 PM

    "These deals must have been done with Chiang's China..."

    yup, the Republic of China, so Taiwan owes us the money. PRC has no obligation to pay ROC regime's "odious debts".

    "The ROC government still officially claims to represent all of "China", in a definition including Taiwan, via the ROC Constitution".
    http://en.wikipedia.org/wiki/Taiwan

    "In international law, odious debt is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state."
    http://en.wikipedia.org/wiki/Odious_debt

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  6. Matt FrankoMay 20, 2012 at 11:13 PM

    "so Taiwan owes us the money"

    They dont have it!

    Resp

    ReplyDelete