UPDATE: Like all breaking web-stories that are in their early hours of existence, it can be difficult to separate fact from rumor and hoax. The following story has proponents and detractors. Some insist it is a hoax (I hope so!), while others insist it’s accurate (please, no…).
Isn’t it terrifying that the mere idea of the Obama Administration taking such an action is even remotely plausible?!!
UPDATE 2: This story/hoax/rumor apparently originated from a Bloomberg Business News story entitled “China Needs U.S. Guarantees for Treasuries, Yu Says“ (excerpt below)
China should seek guarantees that its $682 billion holdings of U.S. government debt won’t be eroded by “reckless policies,” said Yu Yongding, a former adviser to the central bank. …
China may voice its concerns over U.S. government finances and the potential for a weaker dollar when Secretary of State Hillary Clinton visits China on Feb. 20, according to He Zhicheng, an economist at Agricultural Bank of China, the nation’s third-largest lender by assets. …
“In talks with Clinton, China will ask for a guarantee that the U.S. will support the dollar’s exchange rate and make sure China’s dollar-denominated assets are safe,” said He in Beijing. “That would be one of the prerequisites for more purchases.”
UPDATE 4: Leave it to the folks at World Net Daily to get the straight scoop. The Secretary of State’s office says no way – this is so untrue (or words to that effect). I’m glad to hear it. However, I’m still left with my earlier troubling thoughts – Isn’t it terrifying that the mere idea of the Obama Administration taking such an action is even remotely plausible?
Sources at the United States Embassy in Beijing China have just CONFIRMED to me that the United States of America has tendered to China a written agreement which grants to the People’s Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China’s continued purchase of US Treasury Notes and existing US Currency reserves!
The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.
This means that in the event the US Government defaults on its financial obligations to China, the Communist Government of China would be permitted to physically take — inside the USA — land, buildings, factories, perhaps even entire cities – to satisfy the financial obligations of the US government.
Put simply, the feds have now actually mortgaged the physical land and property of all citizens and businesses in the United States. They have given to a foreign power, their Constitutional power to “take” all of our property, as actual collateral for continued Chinese funding of US deficit spending and the continued carrying of US national debt.
This is an unimaginable betrayal of every man, woman and child in the USA. An outrage worthy of violent overthrow.
I am endeavoring to obtain images or copies of the actual document but in the interim, several different sources both in the US and in China have CONFIRMED this to me.
More details as they become available. . . . . spread the word ASAP.
This designated conservative has a hard time contemplating such a betrayal of our national sovereignty by a sitting President and Secretary of State as an actual fact. I sincerely hope that there is nothing to the story, because if true such an action absolutely meets the U.S. Constitution’s definition of “high crimes and misdemeanors.”
Such an agreement would be unconstitutional, treasonous, and an impeccably impeachable offense. Of course, so is deliberately trashing the U.S. economy (the Generational Theft Act of 2009, universal health care, $Billions for ACORN, the Pork-Laden Omnibus Spending bill, and the nearly $4 Trillion 2010 Budget proposal), damaging national security (withdraw from Iraq, cutting defense spending, Illegal Alien Amnesty II, etc. etc.), and the rest of the rush-to-implement Democrat Party agenda.
The Great American ship of state is being deliberately steered into the path of a huge Depressocratic iceberg of economic ruin. by an unqualified President who cannot even confirm his constitutional eligibility to hold the office! This is what happens when we hand the keys to the government to children! (sigh)
Even as we bask in the remarkable success of the Chicago Tea Party movement this week, we can easily contemplate the ship of state sinking beneath our feet….
As Captain Obama, First Mate Pelosi, and crewmates Reid, Schumer, and Dr. Frankendodd push passengers from the “flyover state” class aside in their rush to the lifeboats, can’t you almost hear the choir of designated conservatives singing that old lament, “The Buoyancy of Experience“?….
Need more? Click here to get access to all future updates from the Designated Conservative.