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> Rep. Kirk:China Has Cancelled U.S. Credit?!
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Patch 
Posted: 04-May-2009, 11:25 AM
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Fearing the troubled US economy China has already "canceled America's credit card" by cutting down purchases of dollars and Treasuries, Kirk, a US congressman said Thursday.

China has the world's largest foreign reserves, in dollars, along with approximately 800 billion dollars in US Treasury bonds.

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krioni98 
Posted: 10-May-2009, 12:21 AM
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It was bound to happen at some point. Honestly I am surprised it did not happen earlier. The amount of money the Government is shelling out there has to be a point where other countries are going to stop buying it up.
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shinichikudo 
Posted: 14-May-2009, 04:08 AM
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Yeah, not only China but the whole world is fearing the troubled US economy
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shinichikudo 
Posted: 14-May-2009, 04:16 AM
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Yeah, not only China but the whole world is fearing the troubled US economy wink.gif
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Patch 
Posted: 14-May-2009, 06:34 AM
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True, and unfortunately it has left us with only a very bad option. The euro is now engaging in floating currency as we have been and probably most other countries have done the same.

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credit01 
Posted: 18-May-2009, 08:49 PM
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Yeah, not only China but the whole world is fearing the troubled US economy wink.gif
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You are quite right. thumbs_up.gif biggrin.gif

[right]simulation rachat credit[/right]
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credit01 
Posted: 18-May-2009, 08:51 PM
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QUOTE (credit01 @ 18-May-2009, 08:49 PM)


You are quite right. thumbs_up.gif biggrin.gif
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Patch 
Posted: 18-May-2009, 09:26 PM
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I suspect that is why cost of living increases have been suspended on social security payments for three years. If we can not borrow it, we will have to print (float) dollars. Thus a virtual guarantee of hyper inflation!

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RedWeasel 
Posted: 18-May-2009, 09:31 PM
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As my Dad (Dogshirt) told me, "Get a rifle, shoot the damn deer, AND DON'T GET CAUGHT!!! We don't NEED the damn gov'mnt's money to live, just the FREEDOM to live!!!
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Patch 
Posted: 19-May-2009, 08:46 AM
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QUOTE (RedWeasel @ 18-May-2009, 10:31 PM)
As my Dad (Dogshirt) told me, "Get a rifle, shoot the damn deer, AND DON'T GET CAUGHT!!! We don't NEED the damn gov'mnt's money to live, just the FREEDOM to live!!!

80 tears ago people did that. Today, those in urban areas would be limited shortly to stray dogs, cats pigeons and rats. Most parts of the country no longer can provide wildlife for the masses.

Rustling is getting big around here again. It has been mostly 4H animals to date but we have dairy farms here and beef is beef. We have hog and turkey farms but it is hard to count thousands of those so there may be theft there too.

If you live in an area of low population density you will do better than most.

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flora 
Posted: 19-May-2009, 09:15 AM
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How did we go from talking about U.S. Credit to stealing? This is the very fodder that those who want gun control can use. Granted I don't like the way things are going. Nobody is to the point where they can't buy food.

RedWeasel if I remember correctly your father was growing hops. If he was concerned about the food supply why didn't he plant a more staple crop? I am not attacking his choice of what to plant, I am just saying we can do more to help ourselves then resort to illegal tactics.

I have deer meat in my freezer and hopefully I will have more fish soon - legally.

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Patch 
Posted: 19-May-2009, 10:46 AM
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I kind of moved it from borrowing to theft for the following reasons and because it is a logical progression.

In my county, there is not enough wild game to feed the population for a week, and also, in my community there are people who ARE going hungry right now. I have a neighbor with MS who has two children. I drive them to the Salvation Army for food fairly often. What is available for them is not enough to feed growing kids for a couple of days. Also we have many homeless who do not eat enough.

Our credit has dried up and the only options are to float dollars or cut social service programs. When that comes back to haunt us we will have massive inflation and at that point the comment made by the 70 plus year old man at the CC training will come true. He was getting a "carry license" because he was afraid he would need a gun to get to and from the grocery store one day. People will steal before they and their families face starvation.

Unfortunately "theft" is going to be the end result of our loss of credit. I wish it were not so.

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flora 
Posted: 19-May-2009, 01:35 PM
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I believe we are all heading for a time in our lives that we are going to have to decide what is really important to us, both in our personal lives and as a nation. It makes me stand in awe of the monumental task that our forefathers took on in forming the laws of this nation. When do we stop trying to make the best decisions (laws) for everyone and let anarchy rule?

People are going to say you never know what you will do in certain situations. Yes, I agree to that to an extent. You also have to know what you will not do, no matter the situation. Let us all hope we make the right decisions.

Flora
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Patch 
Posted: 19-May-2009, 09:37 PM
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Most of us I would hope would not steal. I will not for my part but I am not so foolish as to think no one will. Our crime rate here has increased at least 4 fold in the last 7 months. Robberies, home invasions, theft and shoplifting make up most of the increases though drug sales appear to be increasing too. My area is dependent on the auto industry and we are about as bad off as Michigan. My area is not representative of the entire country at this time but there is no indication that the country will not follow us.

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katherine04 
Posted: 25-May-2009, 01:16 PM
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this is an interesting discussion.. thank you for sharing smile.gif
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