[ April 24, 2024 ]
Hear! Hear! They owe us substantially more than that.
Gordon Chang: U.S. Should Seize China’s $1 Trillion in Treasury Obligations as Coronavirus Compensation
America can seize China’s holdings of U.S. Treasury obligations as compensation for the one-party state’s negligence related to the coronavirus pandemic, said Gordon Chang, Daily Beast columnist and author of The Great U.S.-China Tech War, offering his remarks on Monday’s edition of SiriusXM’s Breitbart News Tonight with host Rebecca Mansour and special guest host Ed Martin.
By: Robert Kraychik, Breitbart, April 7, 2020:
Story continues below advertisementChina owns approximately $1.2 trillion in U.S. Treasury holdings.
Chang said, “What the United States can do is just simply seize the treasury obligations that China holds in their own name, they hold a little more than a trillion U.S. dollars in treasuries, probably through nominees they hold some more.”
Chang continued, “But what I recommend is that we not do this alone, and the reason is that China would say that this was a repudiation of debt. They would say that we were bad stewards of the global financial system. They would just tar us and they would actually go after the dollar.”
“What we can do is work with the issuers of other major currencies,” added Chang. “For instance, the Canadian dollar, the pound, the Swiss Franc, the euro, the yen, if we were to do that, and if all these countries were going to confiscate assets, then we have the makings of a real solution.”
Chang said, “Of course, we can never get enough to compensate the world for what happened. We’ve got lives lost, and even if you were just to look at this as a financial play, the amount that we could seize would be far less than the damage China has caused. But the important thing for us is that we’ve got to deter future bad actors, because if the Chinese get away with this, then others will think that they can do the same thing.”
Chang warned, “This is probably not the last pandemic that comes from China.”
“What China did was deliberately make the world sick,” concluded Chang. “It’s hard to understand that, but … but Beijing took actions that would inevitably lead to other nations not protecting themselves, and that would mean the spread of this disease, infecting many, killing some. This is how malevolent Beijing has been. We have got to start defending ourselves, and one way to do this is to teach a lesson that Beijing will never forget.”
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9 Comments
4 years ago
Great News: U.S. to block Iran’s IMF bailout request
https://justthenews.com/world/middle-east/us-block-irans-imf-bailout-request
“Officials worry that Tehran will divert the money to offset U.S. sanctions and continue funding state-sponsored terrorism. The United States will block Iran’s request to the International Monetary Fund for $5 billion in emergency funding to help fight the coronavirus.
The Trump administration maintains that Tehran has access to a considerable stockpile of billion-dollar accounts that it should use to fight the virus outbreak. U.S. officials predict that if the aid request was approved, Tehran would use the additional funding to offset the damage being done to their economy by U.S. sanctions, or to finance militant attacks in the Middle East.”
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Iran could have all the money it needs if it renounced exporting terrorism, and gave up nukes.
4 years ago
Seize it all and more including any Chinese investments, industries within the USA
4 years ago
For many years I have not understood why we trade with China at all. I understand why Nixon opened the door to China for geopolitical reasons, however, why have we allowed the continued enrichment of a totalitarian communist government?
You would have thought after Tianemen Square the world would have pulled back, but no, they continued helping China grow at our expense.
President Trump has now truly opened our eyes to this insidious reality. We cannot allow the corrupt politicians, who are on China’s payroll, to rush to their defense and aid. This is a malevolent government that enslaves its people. You shall know the corrupt politicians as they will rush to China’s defense, ie Joe Biden, whose son received $1.5 billion from this evil country, and said, we have nothing to worry about from China. You won’t see that replayed in the DemoNazi propaganda machine.
Lest we forget.
4 years ago
Yup.
4 years ago
The PRC wanted to make sure the entire world suffered right along w/them — maybe not so much the loss of life.
4 years ago
Cry for the muslum Uyghur? Not bloody likely. F’em.
4 years ago
Reply to
MuhamMUDTheFakeProphet
china took Saars, the virus they created before, & mixed it with more bat poo & made it twice as deadly-I read.
4 years ago
Mar 20
The Trillion $$ Obama loaned from China when he buried America’s economy could be a start in President Xi paying for #coronavirus reparations; meaning at the moment, President @realDonaldTrump owes his political golfing counterpart NOTHING! That was easy!
4 years ago
I doubt it will ever happen.
