Capt. Waffle Posted July 4, 2009 Share Posted July 4, 2009 Well, it's about time to kick-off the 4th festivities, but last night over some beers, my bro-law and father and myself were talking about the 31 trillion we now owe China. So, how in the hell are we going to re-pay that debt, because the Chinese are not going to freeze the interest on the money. We talked about what would happen if we don't/refuse to repay this......can we re-pay this amount of coinage? It is my understanding that they have been buying up our T-Bonds, please explain the T-Bond to a lowly commercial fisherman? Plus, could that amount of money start a war between the USA and China??? Quote Link to comment Share on other sites More sharing options...
H8tank Posted July 4, 2009 Share Posted July 4, 2009 We have to provide free health care to illegals, THERE IS NO OTHER WAY! Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 4, 2009 Share Posted July 4, 2009 my bro-law and father and myself were talking about the 31 trillion we now owe China Why would the US owe China almost 4x more than our total national debt? About a year ago, the number was 492 billion, or... less than 2% of the number you're freaking out about. Quote Link to comment Share on other sites More sharing options...
Capt. Waffle Posted July 4, 2009 Author Share Posted July 4, 2009 Why would the US owe China almost 4x more than our total national debt? About a year ago, the number was 492 billion, or... less than 2% of the number you're freaking out about. I did not see the article, but my brother in law stated that we owe China 31 trillon dollars, I took it on his word that this was true. I pretty much just went along with the flow of the conversation and the beer. I'll ask him when I see him next to find out his source, which will be later today. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 4, 2009 Share Posted July 4, 2009 I did not see the article, but my brother in law stated that we owe China 31 trillon dollars, I took it on his word that this was true. I pretty much just went along with the flow of the conversation and the beer. I'll ask him when I see him next to find out his source, which will be later today. I'm not really that interested. It's ok. Quote Link to comment Share on other sites More sharing options...
Jackass Posted July 4, 2009 Share Posted July 4, 2009 I did not see the article, but my brother in law stated that we owe China 31 trillon dollars, I took it on his word that this was true. I pretty much just went along with the flow of the conversation and the beer. I'll ask him when I see him next to find out his source, which will be later today. Is his "source" by any chance, Johnie Walker? Quote Link to comment Share on other sites More sharing options...
WaterMan Posted July 4, 2009 Share Posted July 4, 2009 We might be fighting wars for China instead of starting our own. Quote Link to comment Share on other sites More sharing options...
Capt. Waffle Posted July 4, 2009 Author Share Posted July 4, 2009 http://www.nytimes.com/2009/05/21/business...21reserves.html Well, he was off somewhat according to this article.......they only hold 2 Trillion of American dollars, and our payment on the interest to them is only........50 billion a year. Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 4, 2009 Share Posted July 4, 2009 China has found their own way of making up for their losses... one route they have taken is with most of the currencies and economies around the world hurting these days...they have purchased 80B in gold...that's a little over 80M oz of gold....that's rather bullish and if the global economy stays the route it is at, then they will have made up those losses and then some... another route is taking advantage of India's growing economy....which is one of the few as of late and they could start trading with them.... I'm not sure how we can re-pay them as the debt seems to keep climbing rather than shrinking....that is why I assume they plan to take action on their own end and make up for their losses... Quote Link to comment Share on other sites More sharing options...
wiegie Posted July 5, 2009 Share Posted July 5, 2009 China has found their own way of making up for their losses... what losses? Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 5, 2009 Share Posted July 5, 2009 what losses? in buying up our bonds and whatnot...the "losses" haven't reflected on paper yet...but they will and China knows it already... Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 5, 2009 Share Posted July 5, 2009 in buying up our bonds and whatnot...the "losses" haven't reflected on paper yet...but they will and China knows it already... When you buy a bond, it isn't a loss. It's an investment. Otherwise you wouldn't buy it. And it's a good one. Even while China complains about our national debt, they are still buying new bonds. Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 5, 2009 Share Posted July 5, 2009 When you buy a bond, it isn't a loss. It's an investment. Otherwise you wouldn't buy it. And it's a good one. Even while China complains about our national debt, they are still buying new bonds. and you can't lose out on an investment?....the only reason why they did that is because we spend money like a bunch of and then when I wore my first dresstards and continue to buy up their products.... all they are doing is buying up useless paper.... Quote Link to comment Share on other sites More sharing options...
wiegie Posted July 5, 2009 Share Posted July 5, 2009 all they are doing is buying up useless paper.... Everyone, feel free to send me whatever "useless paper" you have laying around. Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted July 5, 2009 Share Posted July 5, 2009 Everyone, feel free to send me whatever "useless paper" you have laying around. Quote Link to comment Share on other sites More sharing options...
Seahawks21 Posted July 5, 2009 Share Posted July 5, 2009 Yeah, our deficit is about 4.5, right? We owe about 2 of that to China? So far China isn't freaking out, but there has been speculation that they are worried we won't be able to pay them back. They are starting to look into it. We'll see. Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 5, 2009 Share Posted July 5, 2009 Yeah, our deficit is about 4.5, right? We owe about 2 of that to China? So far China isn't freaking out, but there has been speculation that they are worried we won't be able to pay them back. They are starting to look into it. We'll see. here goes a pretty good video that relays what I was saying ...he even mentions China planning to spend 80B in gold which says a lot about the amount of inflation they are expecting in the US... Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 5, 2009 Share Posted July 5, 2009 Everyone, feel free to send me whatever "useless paper" you have laying around. I'm talking a few years down the line....I doubt China has much confidence in the dollar for in the future... so of course the dollar has some value now....your snide remarks don't support your argument... Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted July 6, 2009 Share Posted July 6, 2009 here goes a pretty good video that relays what I was saying ...he even mentions China planning to spend 80B in gold which says a lot about the amount of inflation they are expecting in the US... Isnt some of this a hedge against the artifically devalued yuan versus the dollar? China's currency "should" be raising in value, but they have specifically kept devaluing it in relation to the dollar. Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted July 6, 2009 Share Posted July 6, 2009 We will be fighting with China over oil long before we can't pay them. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 6, 2009 Share Posted July 6, 2009 I'm talking a few years down the line....I doubt China has much confidence in the dollar for in the future... so of course the dollar has some value now....your snide remarks don't support your argument... What you are saying makes no sense whatsoever. If it's a bad investment, and they know it... they why are they still buying it? Is your argument that the Chinese are stupid? Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 6, 2009 Share Posted July 6, 2009 What you are saying makes no sense whatsoever. If it's a bad investment, and they know it... they why are they still buying it? Is your argument that the Chinese are stupid? because we constantly buy their products....no other nation buys as frivolously as we do... and as someone said above...China has been manipulating their currency to keep things going well so we keep on spending....god forbid these Chinese products were to cost too much money.. Quote Link to comment Share on other sites More sharing options...
wiegie Posted July 6, 2009 Share Posted July 6, 2009 because we constantly buy their products....no other nation buys as frivolously as we do... and as someone said above...China has been manipulating their currency to keep things going well so we keep on spending....god forbid these Chinese products were to cost too much money.. I still don't get your argument. You seem to be arguing that right now Americans are buying Chinese goods in exchange for worthless promises. For some reason, you think this is bad for Americans... but it seems like a GREAT trade-off to me. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted July 6, 2009 Share Posted July 6, 2009 because we constantly buy their products....no other nation buys as frivolously as we do... and as someone said above...China has been manipulating their currency to keep things going well so we keep on spending....god forbid these Chinese products were to cost too much money.. Quote Link to comment Share on other sites More sharing options...
Avernus Posted July 6, 2009 Share Posted July 6, 2009 I still don't get your argument. You seem to be arguing that right now Americans are buying Chinese goods in exchange for worthless promises. For some reason, you think this is bad for Americans... but it seems like a GREAT trade-off to me. this is great for Americans....anytime we exchange anything with another country, it's great... but how long will China want to deal with us if our debt keeps climbing? Quote Link to comment Share on other sites More sharing options...
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