I haven’t done so, but they seemed to be of the opinion that it was significant.

Given the level of indebtedness, who is the superpower, us, or them ?

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Harder to buy US Treasuries
Created: 2009-12-18 0:13:35
Author:Zhou Xin and Jason Subler

IT is getting harder for governments to buy United States Treasuries because the US’s shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday.

The comments by Zhu Min, deputy governor of the People’s Bank of China, referred to the overall situation globally, not specifically to China, the biggest foreign holder of US government bonds.

Chinese officials generally are very careful about commenting on the dollar and Treasuries, given that so much of its US$2.3 trillion reserves are tied to their value, and markets always watch any such comments closely for signs of any shift in how it manages its assets.

China’s State Administration of Foreign Exchange reaffirmed this month that the dollar stands secure as the anchor of the currency reserves it manages, even as the country seeks to diversify its investments.

In a discussion on the global role of the dollar, Zhu told an academic audience that it was inevitable that the dollar would continue to fall in value because Washington continued to issue more Treasuries to finance its deficit spending.

He then addressed where demand for that debt would come from.

“The United States cannot force foreign governments to increase their holdings of Treasuries,” Zhu said, according to an audio recording of his remarks. “Double the holdings? It is definitely impossible.”

“The US current account deficit is falling as residents’ savings increase, so its trade turnover is falling, which means the US is supplying fewer dollars to the rest of the world,” he added. “The world does not have so much money to buy more US Treasuries.”

China continues to see its foreign exchange reserves grow, albeit at a slower pace than in past years, due to a large trade surplus and inflows of foreign investment. They stood at US$2.3 trillion at the end of September.

Given that we were lied to about national health care (i.e. taxing people’s health care benefits is not in the picture and small businesses won’t be fined) why does anyone think poorer Americans will avoid being burdened by this new policy that’s _designed_ to increase energy costs?

“Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.” — Barack Obama, January 17, 2008, San Francisco Chronicle

http://www.examiner.com/examiner/x-268-Right-Side-Politics-Examiner~y2009m6d26-Obama-on-cap-and-trade-electricity-rates-would-necessarily-skyrocket

President Obama didn’t mention anything about this being a “jobs creation” plan in that statement.

Let’s be clear. There’s a price to pay for “cap-and-trade” and Americans of all income and education levels should be FULLY aware of it BEFORE any vote in the Senate takes place.

Broad brush accusations that there is a broad group of exploiters, but some of the biggest corporations are exempted, is simply crazy.

Sally, let me explain this to you in leftist-speak: ”

“You already have all the power as it is; you’re a member of the exploiter-class, everything you think you’ve achieved in this life has actually been just stolen from the exploited masses. Legislation like this is allows you to feel better about your theft, that in a very small way, you’re doing your part, helping out your brothers and sisters less fortunate than you. And think of the children, you do want to help the children, don’t you? And, after all, it’s only a tiny fraction of your ill-gotten gains. Be grateful we’re not taking back what you truly owe. Yet.”

Feel better?

I WILL be writing my Senators. If they feel puffed up by the number of letters they receive, they won’t be so puffed if they actually read them. If not, they’re delusional and will be thrown out come election day.

Kimberley Strassel wrote an interesting piece in the WSJ concerning how legislators in other countries are re-thinking this issue: http://online.wsj.com/article/SB124597505076157449.html

Let Freedom Ring put into action an idea I’m sure many of us have had (they’re targeting health care, but I’m going to clone these letters and send them to my Senators in relation to this issue as well): http://www.letfreedomringusa.com/pledge-to-read

I also plan to make copies of the letters I send to the Senators and send them to key reporters (and management personnel) for MSM outlets as well. It’s time these people stop pretending they don’t have a clue and start covering these topics responsibly. I saw a story recently about a guy out west who embezzled from work and his parents, deserted his family, sent a suicide note to his wife saying he was going to kill himself, and then set up shop in Texas to start his life anew. When the people he met out there found out several years later that he’d lived a lie all of that time and had deceived his family and his new friends, they looked the other way and didn’t publicize this guy’s deception for others in the community so that they would be warned and could protect themselves from future deception. That’s the kind of thing that’s happening today. People see the deception in the bills that are being put forth, but they are looking the other way and protecting the legislators who are putting us all at risk because what they want out of these bills is more important to them than how it will impact us all. This needs to stop.

How do you combat such a statement? How do you point out that old poor people will die in their homes when they can’t afford the increased cost (tax) this legislation will add to their energy bills? How do you explain that right now energy companies have “fuel funds” set up to help people pay their energy bills, because they can’t afford the CURRENT costs? How do you explain that Al Gore, Pelosi, Obama, etc., etc., etc. have financial and personal stakes in companies that will allow them to directly benefit from the legislation they’re proposing, which makes it suspect? How do you explain that you don’t want the government telling you what light bulbs you can use, and how low you can set your thermostat, and whether you can have a wood-burning stove or fireplace, when you were free 20 years ago to use what YOU could afford to pay for?

The logic of the “cap & trade” crew is amazing. They want to go full steam ahead and impose a huge new bureaucracy on the citizens of this country, set up a market for trading energy credits (that they control), and knowingly increase the cost of energy in this country, but they don’t care that the flaws in the system they are setting up make it extremely dangerous for the vast number of Americans. Our jobs are at risk. Our ability to afford energy for our homes is at risk. Our economic stability is at risk. And, they want us to put all of that on the back burner while they fight the “global climate change” battle on our backs. Oh, and they apparently don’t want nuclear power and they don’t want us to “drill here, drill now” so that we won’t be dependent on foreign oil, and they don’t want us to explore ways of burning coal in a cleaner fashion.

Our Senators can vote for this mess if they want to. I have no confidence that they will “think straight, think smart, think free” and not be suckered in by the Powerpoint cowboys and tree huggers circling around them.

Follow the link below to see the video of Rep Boehner reading and explaining parts of the amendment.

The amendment would require that when you are ready to sell your home it must be inspected to determine its energy efficiency. If it does not meet the federally mandated energy efficiency rating, you would have to have the house rehabilitated to reach tohose standards and inspected again.

Any guess as to how many thousands, or maybe tens of thousands, of dollars that might cost?

Would some or all of these and more need to be done to your home? Replacing windows and doors, new insulation in walls and ceilings, new energy efficient appliances, new A/C and heating systems, new roof, new wiring including an outlet for charging electric autos.

Check out the videos at this link. You will be blown away!

http://newsbusters.org/blogs/noel-sheppard/2009/06/27/boehn ers-amazing-dissection-cap-trade-bill