Should We Be Worried By The Fact That China Wants A New World Order, Not Just A One World Currency?
Last year I wrote about our credit rating being dropped by Standard and Poors because of what is about to happen again on Thursday October 17th 2013. Incase you haven’t heard, The Debt Ceiling has to be addressed again. The only problem is this time we are under a partial Government shout Down, which compounds the problem. The countries that hold the US debt are, (as they have been since 2009) getting nervous. (And that is not a good thing.)
As it was last year The legislator is asking for a 6 week extension and Obama says he will not sign anything that does not answer to the problem. This is what is really putting our creditors on edge. Is It Time To Panic AAA To AA+
China has recruited other countries who would like to see the US fall from its economic pinnacle. The Chinese government is pushing harder than in 2009 for a New World Currency. The Chinese have lost faith in this governments capability to handle United States unstable economy. The Chinese Governor of Banks, Zhou Xiaochuan, has said that it is not enough to take down the U.S. dollar. Zhou explains that corner stones must be laid to underpin an Americanized World.
Zhou continued talking about a self-serving Washington DC.
News Oxy October 14, 2013
“A self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies,” the commentary continues.
“Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place, according to which all nations, big or small, poor or rich, can have their key interests respected and protected on an equal footing.”
China for some reason feels The United Nations should control The N.O.W. and a global bank should be designed to control the currency.
Contrary to popular belief China is not the Number one creditor, we are. The citizens of the United States combined with State and Local government are owed over $4.14 trillion. Then China comes in second at $1.26 trillion. The others are, Japan, Brazil, Taiwan, Switzerland, Russia, Luxemburg and, Belgium. All total the debt is $16.43 trillion. These figures are according to U.S. Department of the Treasury
It is easy to see why countries are watching the roller coaster ride our economy is on, especially those countries that have their economic futures tied to the US dollar. The problem is how do they disconnect from the US dollar with out waking up one morning and finding the boot of the US military on their throat, as Saddam Hussein did when he change Iraq’s petrodollar from the US dollar to the Euro. China thinks they have the answer. But do they?