For as long as I’ve been blogging, certain political factions have insisted that the government will take our savings. Be it 401K, other retirement money, or just your ordinary bank accounts, poof – gone. Well, that just happened in China, so it begs the question.
If they are hurting that bad, where do they look for more?
China holds a massive sum of US paper. They’ve bought a lot of US bonds. If bank runs and economic instability are rocking the Communist nation, what to do? Who to call?
Do you call China Joe?
Debt is all America has under Biden, and he’s not the only culprit, but between Obama and China Joe – each with Democrat congressional majorities in their first terms that spent wildly – we elevated excessive spending to a new level. To be fair, Trump wasn’t a saver, but he at least grew an economy capable of eventually beating the debt back if he kept his promise to cut spending in term two, which Dems will do anything to prevent.
Does that include destroying America? I think we have to accept that it does. And the Biden admin has already robbed us with inflation. They have the nation teetering on a reed over a canyon named recession. So, at this point, what difference does it make? It’s just a matter of when not if.
China will have to seize assets and is alleged to be doing that already. As many as 400,000 Chinese had their savings vanish overnight.
Depositors were protesting to demand that their savings be returned as thousands have been unable to access their money for over a month. Banks in Henan first froze client assets, and then the Chinese government changed the victims’ COVID QR passes to red to deny them the freedom of movement. The most recent protest was among the largest seen in China since the pandemic began.
Over $6 billion (39 billion yuan) is missing. A reported 400,000 people have been affected. Imagine going to the bank only to realize that your entire life’s savings were gone instantly? You worked hard, saved, and did everything right for years or decades, only to have it all abruptly taken away
That economic collapse will shake the world markets, and with America by its side or right behind them, the global recession seems imminent.
Biden gave China oil we don’t have, so why not money? What’s stopping him and his friendly bank buddies from seizing assets to pay off some of that debt?
Is it the three hundred million or more firearms in the hands of millions of Americans? China doesn’t have that, or they’d probably have an actual insurrection. And we know or at least suspect that the left is looking for a civil war. Is this what gets them there, or are they too weak to try it. And for those who’d rather not see that happen, what’s the plan?
China’s economic descent will create a giant sucking sound, and not just economically. And what does a struggling giant with a Marxist’s sense of morality do in those circumstances? Maybe they start a war? Take what they need.
But with who?
And does Biden do them another solid and print more money, making yours worth less, or does he take what’s there and from who?
That’s what we’ve been told they would do for years – take our savings – and it looks like China is there now.