China has signed agreements for half a trillion dollars a year in non-dollar trades. This is a naked attempt to attack the US economy. It’s an act of war, but since our President is bought and paid for by China, he ignores this.
Categories: economicsPresidency
16 Comments
neomunitor · May 28, 2023 at 8:52 am
Given the US did, indeed, weaponize the dollar unilaterally and without direct provocation, how is this an act of war? Why is this not simply the prudent behavior of a nation to put its own interests first and diversify before the current reserve currency collapses?
Divemedic · May 29, 2023 at 10:28 am
It was an act of war when the US did it, too. Who says it wasn’t?
Make no mistake, this is an attack on the US economy. China has even said as much.
That’s why the US needs to take steps to safeguard the US dollar, and not simply ignore what is happening.
Joe Blow · May 28, 2023 at 9:13 am
How praytell, is it an act of ‘War’ for a sovereign nation to make independent commercial trade agreements with other sovereign nations?
Since when is the rest of the world required to ask our permission and use our currency to enact trade? Isn’t that a sovereign thing they can decide to do on their own, ya know, like sovereigns?
Sheeesh…never thought you were a hegemon, Doc?
Does it suck for us and going to cause the USD to collapse further? You betcha! But suggesting a foreign nation be required to use our currency because ‘thats the way we’ve always done it’ isn’t very smart rhetoric. These are the steps collapsing the unipolar world order established by the petro dollar. Blame the pentagon or potato head, not China for doing whats in their best interest. At this point the collapse is inevitable, they’re just being smart. They still have mountains of cheap crap they need to export, wether we buy them or someone else does.
Divemedic · May 29, 2023 at 10:30 am
Who says it isn’t an act of war when the US does it? That’s why it has always been foolish for the US to use sanctions to influence the behavior of other countries. Those countries are responding by attacking the dollar. China has even said so.
However, it is Biden’s job to safeguard US interests, not ensure that international relations are fair as if it were some sort of international soccer game where he is the referee. That’s also why the US is mistaken in trying to be the world’s police.
China is taking steps to become the next superpower. The US should be taking steps to prevent that, but our President is owned by China and won’t, because he is whoring out the White House.
They Don't Work For Us · May 28, 2023 at 9:47 am
“I hate America and everyone in it, it is my life’s work to destroy it.”
George Soros, 1979.
Earl Harding · May 28, 2023 at 4:52 pm
An Act of War you say? Hyperbole much?
It’s an act of way in the exact same way that the USA attacked Japan in 1940/41 by closing the Panama Canal to Japanese shipping, freezing Japanese assets and imposing an oil embargo.
If you believe that countries cannot choose who they trade with and how to pay (USA cutting off Japan/Chine cutting out the US), then Pearl Harbor was a legitimate attack on the US in response to the embargo.
Unless the argument is “It’s different when I do it, because reasons…”
Divemedic · May 29, 2023 at 10:32 am
Yes, exactly. It was closing the Panama Canal to Japanese shipping, using economic sanctions and embargoes of goods that Japan needed that directly led to the attack on Pearl Harbor. It’s almost like we never learn from history.
McChuck · May 29, 2023 at 7:58 am
It was an act of war when the US government stole half a trillion dollars of Russia’s money from international holding banks last year. The rest of the world noticed that their US dollar holdings were no longer safe, and are now acting prudently.
Divemedic · May 29, 2023 at 10:32 am
Exactly. We are in a war, but our politicos are too stupid or greedy to see it. It’s like the moron who throws a single punch and then turns their back on their opponent.
Noway2 · May 29, 2023 at 9:01 am
Though the intent and act is clearly in opposition to US interests, I fail to see how this amounts to an act of war. As others have said, they are sovereign nations and are under no obligation to conduct business in a manner that is beneficial to the US. Just don’t tell the US hegemony that. The PTBs in the US have abused their status as reserve currency and the outrageous “printing” (mostly electronic) and resulting inflation, coupled with the act of rising interest rates by the criminal central bank cabal, is hurting a lot of nations around the world. Consequently, their acts, though detrimental to the US, are simply in their own interests and the US has itself to blame. Unfortunately, we the little people will bear the brunt of the cost of these criminal decisions.
Divemedic · May 29, 2023 at 10:38 am
Perhaps this will explain what is happening.
https://www.foxnews.com/opinion/china-war-dollar-really-about-ruling-world
wojtek · May 29, 2023 at 5:56 pm
Economic warfare? Maybe. An act of war? Not even close. Using your own currency in your own trade is not a provocation – it is a right.
As for the arguments, they are a bit conflicted: how is it that if China uses yuan for trade it will make China strong, but if the world uses rupee for trade this will make India weak? 🙂 Not even speaking about the dollar – by the same logic you should be happy that the world will use less of it.
No sir, not an act of war. But it is interesting to see how some actors press for conflict searching for excuses.
Divemedic · May 29, 2023 at 7:03 pm
If you read the article, it is because the Rupee would be worth more, causing prices to rise. In the short term. this would price many people out of the market.
Using your currency for trades is one thing, but doing so in concert with other nations with the express purpose of destroying another nation’s economy is another.
There is a way to respond without use of arms. The US just isn’t going to do it, due largely to the weakness of our President.
wojtek · May 29, 2023 at 11:00 pm
1) You wrote a note about China using its own currency for bilateral trade agreements and called it an act of war.
2) Then, you wrote in your comment this: “Using your currency for trades is one thing”, implicating something opposite to what you wrote in the note.
Tertium non datur and one of your statements must be true and one must be false. So now you are on a fishing expedition and are adding in a comment a link to some hack job by one of the men who never saw a war he didn’t like, about China supposedly wanting to use rupees for international trade. Which not only contradicts the note you wrote and the facts you provided, but which is not substantiated by anything we know.
In fact, the reality is quite the opposite:
– China has been pushing to use yuan in its own bilateral agreements (as your original note clearly demonstrates) AND as a currency for BRICS trade;
– India at the same time has been doing this exact same thing with its own rupee;
– but, in an interesting twist, it is actually India that has been known to use yuan to clear its trade with russia. Not China with rupee.
So there’s that. As for reading articles, let’s go a step further and apply that “logic” we read to your original information (which I claim to be the only factual information we have here): in consequence we should deduce that using yuan for international trade will make China weaker. I mean if using rupee would make India weaker, than clearly the same “argument” will apply to China using yuan. Right?
We see these days a lot of people openly pushing for WW3. Let’s not fall prey to their sick desires.
Divemedic · May 30, 2023 at 5:44 am
Nowhere did I claim that I want to see WW3. There are other ways to fight a war than using bombs.
wojtek · May 30, 2023 at 8:45 am
I thought it was clear I was writing about Rep Mark Green from TN.
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