China's official news agency says there should be international supervision on US printing money

[dkf]

In the Xinhua commentary, China scorned the United States for its "debt addiction" and "short sighted" political wrangling.

"China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," it said.

It urged the United States to cut military and social welfare expenditure. Further credit downgrades would very likely undermine the world economic recovery and trigger new rounds of financial turmoil, it said.

"International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country," Xinhua said.


http://mobile.reuters.com/article/idUSTRE7712HB20110806?irpc=932

[Chimichurri]

1. Who could've guessed that China wouldn't begin to make demands after selling our

souls to them.

Not surprising but remarkable nonetheless.

[roguevalley]

18. bwahahahaha! This is surreal world. And to think it happened during

a dem presidency ...

[Chimichurri]

19. they perceive him as a weak capitulator.

[MADem]

2. Cheeky bastards! And there should be international supervision on

China's use of prison labor and the way they steal and sell "surplus" female children to get those Almighty Dollars!

If wishes were horses, China...!!!

[dkf]

3. Except they are our bankers.

[MADem]

4. Yeah, and they're pissed because we're replaying them with money

that's worth WAY less than they want it to be....but it's about "right" in terms of value considering all the plastic, crappy shit they've dumped on our shores in their efforts to corner markets.

The horse they rode in on!!

[Lasher]

5. Oh look.

A lecture from China about currency manipulation.

[NNN0LHI]

6. I don't like it but I think we had better pay attention to what China is saying

And more importantly, the tone in which they are saying it.

I just can't recall them ever making any idle threats. When they talk in this tone, which is extremely harsh for China, we had better realize that they mean business.

Don

[sufrommich]

7. Yep, they smell blood in the water.nt

[dkf]

8. Found the original Xinhua article

http://news.xinhuanet.com/english2010/indepth/2011-08/06/c_131032986.htm

[TheKentuckian]

9. Listen? Always. Comply? Not so much. We are a sovereign nation and democratic nation

We have the right and responsibility to act in the interest of our citizens.

I say withdrawal Pax American, let the world burn their resources protecting and establishing commerce and let someone else be the host of the vampire bankers and we can and would benefit would benefit while being largely self subsisting.

[L0oniX]

11. Oh noes ...they will close up Walmart .....fear!

[L0oniX]

10. Maybe they want the money printing jobs too.

[dkf]

12. Lol.

Too bad it's electronic.

[originalpckelly]

13. Them's is fightun wurds.

No, I mean, we will be lucky to get out this situation without another world war.

The shit is about to hit the international economic fan.

[LetTimmySmoke]

14. I'll take their threats seriously when they put their money where their mouth is...

...and float their currency. As long as the yuan is pegged to the dollar, their words are empty.

[nadinbrzezinski]

15. And this is... the first step to the actual end

of the USD as a reserve currency... well done Mr. Speaker, well done.

[Horse with no Name]

16. Whoever hasn't expected that someday China would be telling us what to do

hasn't been paying attention.

They have deplorable human rights in that country...now, they are insisting that we join them by gutting the safety net.

The ONE thing that I am completely 100% passionate about is CHOICE. I wouldn't want to take away the rights of the Duggar's to have their 50th kid any more than I would want to dictate that someone end a pregnancy that they didn't want.

I would fight toe to toe for the right of ANY woman to choose how she decides to manage her reproductive rights.

The slippery slope that the anti-abortion crowd puts us on...is the right of the government to choose what we can and cannot do with our bodies.

Now, China has found it's voice. It appears that they are toying with exercising their rights over our empire...so now...to all of those "Anti-Abortioners" out there who want nothing more than to tell another woman what she can do with her body...how ya gonna feel when China decides to RESTRICT your family size? They do it to their own people.

But you know what? Even though I hate everything that motivates to you to my very soul--I'll stand right beside you and fight like hell to preserve YOUR right to choose what you want to do about YOUR reproductive rights.

[Recursion]

17. There is. It's called our bond yield

And it's not even in positive territory in real terms; people are still paying the treasury to hold their money.