Dear you hear the joke about…US to impose sanctions on China

Rarely have I known a country making a greater effort to destroy itself than America. While running a 16 trillion dollar deficit, losing manufacturing to a dozen foreign countries, running a huge trade deficit, supporting sink hole economies like the Ukraine, they still want to rule the world. Well, here is what will happen if they impose sanctions on China (for hacking into our internet – something we have done for a decade to friends, enemies and partners with impunity)….

The US dollar is the reserve currency of the world. Thank is, most trades and money transfers are done in dollars. This has allowed the US to sell its treasury bills and bonds at a very low interest rate.

China has already set up a bank to rival our World Bank. China already trades with many countries in S.E. Asia, circumventing the US dollar. China is trading directly with Brazil (because we spied on the Brazilian president) and many other South American Nations. All China needs is a little more incentive to establish direct links with Europe and India and the US dollar will no longer be the world’s reserve currency. When (not if) that happens, the cost of borrow for the US will go up AT LEAST 100%. So, a debt that cost say 320 billion would be 640 billion per year.

China has been cautious, conciliatory and patent with the US, not wanting to upset the applecart. But if the US presses the issue, it will spell doom for the US, not China.

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