China, Built on American Debt
Last May, echoing the sentiments of President Trump I wrote an article entitled, “America, China’s Piggybank.” In it I explained why China needs U.S. dollars, which they receive in trade for exports to America. Essentially, since the early-1970’s Federal Reserve banks on Wall Street have owned the franchise of issuing U.S. dollars, in practically unlimited quantities, sending them all around the world, expecting the U.S. military and intelligence services to enforce their value. That system has a name. It is called, “the petrodollar system.” As a result, the world still uses dollars as its predominant trading platform, which explains why China, the world’s largest exporter of goods, must always have a significant supply of dollars. One way China obtains dollars is to produce cheap goods that Americans, always shopping for a deal, unwittingly import. Now if you didn’t realize that the U.S. military and intelligence services have been enforcing the valu...