BROKEASSES U.S., ENGLAND, AND BANKERS DEFAULTING ON CHINA'S LOANS! ....Now What? WAR against CHINA?

http://www.informationclearinghouse.info/article28301.htm

China Ratings House Says US Defaulting: Report

By AFP

June 10, 2011 "AFP" -- A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order.

"In our opinion, the United States has already been defaulting," Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.

Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies -- eroding the wealth of creditors including China, Guan said.

Guan did not immediately respond to AFP requests for comment.

The US government will run out of room to spend more on August 2 unless Congress bumps up the borrowing limit beyond $14.29 trillion -- but Republicans are refusing to support such a move until a deficit cutting deal is reached.

Ratings agency Fitch on Wednesday joined Moody's and Standard & Poor's to warn the United States could lose its first-class credit rating if it fails to raise its debt ceiling to avoid defaulting on loans.

A downgrade could sharply raise US borrowing costs, worsening the country's already dire fiscal position, and send shock waves through the financial world, which has long considered US debt a benchmark among safe-haven investments.

China is by far the top holder of US debt and has in the past raised worries that the massive US stimulus effort launched to revive the economy would lead to mushrooming debt that erodes the value of the dollar and its Treasury holdings.

Beijing cut its holdings of US Treasury securities for the fifth month in a row to $1.145 trillion in March, down $9.2 billion from February and 2.6 percent less than October's peak of $1.175 trillion, US data showed last month.

Foreign ministry spokesman Hong Lei on Thursday urged the United States to adopt "effective measures to improve its fiscal situation".

Dagong has made a name for itself by hitting out at its three Western rivals, saying they caused the financial crisis by failing to properly disclose risk.

The Chinese agency, which is trying to build an international profile, has given the United States and several other nations lower marks than they received from the the big three.

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+18 Vote up Vote down

Don · 5 hours ago

Ironic that even with all the massive weaponry the US has, the next war may be one of economics and the US will be the loser. We are spending ourselves into oblivion with the bloated and unnecessary military spending, and we are unwilling to tax the rich and the corporations. Formula for disaster.

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2 replies · active less than 1 minute ago

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david hannaford · 5 hours ago

Dagong ... has given the United States and several other nations lower marks = UK

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+10 Vote up Vote down

capt jim · 5 hours ago

The USI should take its nose out of Israel's arse and start flirting with China--they are holding the chips now!

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+5 Vote up Vote down

Iraqi Civilian · 4 hours ago

At last a country has emerged that can dictate terms to the all-powerful monster the USA!
That is a good news indeed.
ha, ha, ha, ha, ha, ....

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-8 Vote up Vote down

parrotsoup · 3 hours ago

Wow, way to just dump your friends and jump on board with the rich guy. This rating is coming from a country that does not have private industry in the way the western world does. This rating is a way for China to put pressure on the US government for it's own interests only and no one else, least of all average citizens. I've never been able to figure out why we're so willing to throw all of outr mistrust and any allegation we can at the US goverment, but then turn around and just accept the Chinese or Russians at their words? China has manipulated their currency in the international market in order to create an imbalance in trade that favours them. They keep their currencies artificially low in order to undercut other countries labour and keep their manufacturing base. I say, who cares what China thinks. Until they're willing to operate out in the open with the rest of the super economies, just continue to use them as a munufacturing hub and ignore what they have to say as far as criticising anyone. They should really have no credibility with the rest of the world. I'd put more stock in what India had to say than China. I haven't even mentioned their repeated worldwide cyber attacks, almost comic book villian like censorship, human rights violations regarding freedom of speech and religon. They've done some good things as far as raising a middle class and educating their people, but please, does anyone even know where China stands on anything other than an economic issue?

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2 replies · active 3 hours ago

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Fred · 3 hours ago

Not necessarily, China is incredibly dependent on its exports. Also, china will lose all its competitive advantage if they let their currency float....

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5 replies · active 1 hour ago

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MiKi 67 · 2 hours ago

Parrotsoup is a thick twat....China OWNS America!....a tiny example: check out how much of The Useless States of America's real estate is owned ( one way or another e.g. via debt ) by China. The PRC has various means to bring America to it's knees. Some people really need to read & research more before they open their beaks and start screeching misinformed drivel.

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david distefano · 1 hour ago

to put americas financial house in order it must 1) stop all wars it is currently fighting. 2) close the 700 plus military bases through out the world. those soldiers who have time left to serve will work on the crumbling infrastructure of amereica. 3) congress needs to use the "sherman anti-trust act" to break up every too big to fail corporations. 4) tell israel to get F$@&*D, we will now have a policy that is fair to all parties in the middle east 5) give tax breaks for every new manufacturing company started in america of 100 employees or more and the government will pickup the tap for health care so the companies will be able to play on an even field.

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Kaohi June 11, 2011 at 4:27am

David Ma is a good source for some of what one is talking about. Its interesting that you have concluded a 'now what' in the mix. I too believe it is true too. I saw that coming before people hear of Afghanstan. Students from that area spoke about the troubles of China, Soviet (Russia) and US in the late eighties.

America aborted their children and China's population is huge comparing to US. Not to mention they are smarter than Americans because of their early education and do have the tenacity to work in the farms with a PHd too.
Amelia Gora June 10, 2011 at 4:59pm

https://www.youtube.com/watch?v=BzcCVGiP-OE&feature=related

**************************************************************************

NOTE TO ALL: China has one of Kamehameha's Trusts.............it does NOT belong to the U.S.

It appears that we'll eventually be called to the table for assistance due to the debt of the U.S, et. als...... or

? interesting...............oh btw Kamehameha's Trusts belongs to the family lines due to the Monarchy status that was set in place since 1810, the sandal wood trade, etc..............lots of stuff.............but anyone of 40+ claiming Kingdom of Hawaii government won't be able to claim because they're NOT the bloodlines.................interesting message for Kamehameha Day.................

aloha.

p.s. kanaka maoli kuka kuka.......... hawaiianhistory@yahoo.com

https://www.youtube.com/user/hwnwahine?blend=5&ob=5

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