China Virus, Relief Checks to US Citizens and the National D

[High Power]

The fault with the spread of COVID-19 virus can be laid squarely at the feet of the Chinese Communists.

The cost of paying for treatment, lost jobs, damage to US business and industry as well as other measures to fight the China Virus is staggering.

Some people are opposed to the Federal government writing checks to US citizens who cannot pay their bills because of business closures. I will say this much. We spend billions of dollars helping other people in other countries. Some of those countries hate us and are hell-bent on destroying us.

So why should we not be helping our own?

One argument against sending money to US citizens suffering as a result of the virus is that it would increase the national debt.

One answer to mitigating that addition to the national debt is to make the Chinese pay for it.

Okay, I will give you a few minutes to stop laughing.

Are you done laughing? Good. Read on.

The Chinese, as of January 2020, hold about 1.08 trillion dollars in Treasury Securities. Now that you know that, you probably are beginning to think the same thing that I am contemplating.

Let's just tell the Chinese that we are not going to honor those securities. In other words, those T-bills are worthless to the Chinese. We should not have to pay them back and that will reduce our national debt by 16% for the T-bills and overall by 4.7%.

https://ticdata.treasury.gov/Publish/mfh.txt" onclick="window.open(this.href);return false;

If you feel the way I do, contact our elected officials and tell them to cancel all the treasury securities held by China.

https://www.house.gov/representatives/f ... esentative" onclick="window.open(this.href);return false;

https://www.senate.gov/general/contact_ ... rs_cfm.cfm" onclick="window.open(this.href);return false;

https://www.whitehouse.gov/contact/" onclick="window.open(this.href);return false;

[TJW815]

I like the way you think, but I don’t think you have all the info.

Currently China supplies not only the USA but a majority of the developed world a large chunk (a lions share) of goods, both consumer and otherwise.

All they would have to do in return is mess with their currency a little bit and screw is all over.

They don’t do that, because they count on us in return to supply them with a lot of money from us buying those goods.

It’s like the US and USSR in the 70s/80s. They didn’t strike at each other because it would be terrible for both sides. Or why we avoid nuclear weapons usage at all costs today, mutual assured destruction.

[farblue]

Interesting, but what would that do to the dollar worldwide? I know it's more complicated than an individual, but what would happen if you suddenly decided that you're not going to honor your debts? I'm no expert, but I would guess that would downgrade our credit rating and start tanking the purchasing power of the dollar.

[High Power]

Interesting, but what would that do to the dollar worldwide? I know it's more complicated than an individual, but what would happen if you suddenly decided that you're not going to honor your debts? I'm no expert, but I would guess that would downgrade our credit rating and start tanking the purchasing power of the dollar.

Some people think that it would hurt the dollar. That may be true but other countries are still going to have to trade with us.

China is like a bully that needs to be fought. You don't fight a bully on their terms unless you have to.

They will not learn unless they pay an awful price for their lies and deadly deception.

Like a real life bully, it is painful to fight them. It will hurt. It will also hurt more if we don't punish them.

In the end, we Americans must ask ourselves; is it better to die on our feet or live on our knees?

[farblue]

Interesting, but what would that do to the dollar worldwide? I know it's more complicated than an individual, but what would happen if you suddenly decided that you're not going to honor your debts? I'm no expert, but I would guess that would downgrade our credit rating and start tanking the purchasing power of the dollar.

Some people think that it would hurt the dollar. That may be true but other countries are still going to have to trade with us.

China is like a bully that needs to be fought. You don't fight a bully on their terms unless you have to.

They will not learn unless they pay an awful price for their lies and deadly deception.

Like a real life bully, it is painful to fight them. It will hurt. It will also hurt more if we don't punish them.

In the end, we Americans must ask ourselves; is it better to die on our feet or live on our knees?

Okay. Different (sort of) analogy.

You have a good credit rating. You can get a car loan at 3%, and you do. A year later, you disagree with the lender's stance on whatever and decide that you're not going to repay your loan because of that.

Your credit cards now go from 9% to 23%. Your car gets repossessed, and you can't buy another car for less than 14%. You can't get a better job because your credit score just took a big hit. If you're in the market for a house, even IF you can get a lender to talk to you, they demand 25% down instead of 10%, and your mortgage rate is 1.25% higher than the average.

I'm not saying we shouldn't do something, but we shouldn't hurt ourselves in the process. We need to be smart about it and protect ourselves at the same time.

You don't hurt a bully by gouging out your own eye.

[High Power]

Interesting, but what would that do to the dollar worldwide? I know it's more complicated than an individual, but what would happen if you suddenly decided that you're not going to honor your debts? I'm no expert, but I would guess that would downgrade our credit rating and start tanking the purchasing power of the dollar.

Some people think that it would hurt the dollar. That may be true but other countries are still going to have to trade with us.

China is like a bully that needs to be fought. You don't fight a bully on their terms unless you have to.

They will not learn unless they pay an awful price for their lies and deadly deception.

Like a real life bully, it is painful to fight them. It will hurt. It will also hurt more if we don't punish them.

In the end, we Americans must ask ourselves; is it better to die on our feet or live on our knees?

Okay. Different (sort of) analogy.

You have a good credit rating. You can get a car loan at 3%, and you do. A year later, you disagree with the lender's stance on whatever and decide that you're not going to repay your loan because of that.

Your credit cards now go from 9% to 23%. Your car gets repossessed, and you can't buy another car for less than 14%. You can't get a better job because your credit score just took a big hit. If you're in the market for a house, even IF you can get a lender to talk to you, they demand 25% down instead of 10%, and your mortgage rate is 1.25% higher than the average.

I'm not saying we shouldn't do something, but we shouldn't hurt ourselves in the process. We need to be smart about it and protect ourselves at the same time.

You don't hurt a bully by gouging out your own eye.

So what do you have in mind?

[DOA33]

China needs to be punished harshly cause of their lies and cover up, thousands are dead or dying and millions are sick in 131 countries. I say we are more then squared with our debt.

[High Power]

China needs to be punished harshly cause of their lies and cover up, thousands are dead or dying and millions are sick in 131 countries. I say we are more then squared with our debt.

Exactly! Now imagine if the other countries that owe China money did the same. China was already having economic problems before they let their virus get out of control. If every country (or even half of them) decided to tell the Chi-coms to pound sand then they would be singing a different tune.

There is an old saying; "If you owe the bank $500 then you have a problem. If you owe the bank $500,000 then the bank has a problem."

It's the same way with china. They've lent so much money to the rest of the world; basically buying influence in another's sovereign affairs. Now that we and the rest of the world are suffering, we should ask ourselves; what else do we have to lose by telling the Chi-coms that we aren't paying them back for what they have done?

https://hbr.org/2020/02/how-much-money- ... -owe-china

[High Power]

One thing that I forgot to add. We should stop with all foreign aid; at least the foreign aid to the countries that want to slit our throats.

That would save us a lot of money to help our own and also provide the incentive to some of those same countries to tell China to pound sand.

Once again, imagine if the rest of the world followed us and said that they were not going to honor their treasury securities with China.

It's sort of like all of the kids getting together at school to tell the bully he's not going to get anymore lunch money from the rest of the group.