China had previously ordered its banks to halt all lending to the United States, an action that would totally cripple the American banking system, and as we can read as reported by the Reuters News Service:
“Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.
“The decree appears to be Beijing’s first attempt to erect defences against the deepening U.S. financial meltdown after the mainland’s major lenders reported billions of U.S. dollars in exposure to the credit crisis,” the SCMP said.”
http://www.reuters.com/article/newsOne/idUSPEK16693720080925?sp=true
Not being understood by the American people is that China is the holder of over $1.4 Trillion of US debt backed by the mortgages on the homes and property of tens of millions these people which, in essence, makes the Chinese one of the largest holders of land in the United States, and which the Chinese government has stated they will protect ‘at all costs’.
http://www.theatlantic.com/doc/200801/fallows-chinese-dollars
In rapid response to China’s demands that they be granted immediate access to their American properties to protect their ‘investments’, the United States is enacting a new law titled the Emergency Economic Stabilization Act of 2008, and which in Section 101, Paragraph 7:3 chillingly states:
“Designating financial institutions as financial agents of the Federal Government, and such institutions shall perform all such reasonable duties related to this Act as financial agents of the Federal Government as may be required.”
http://money.cnn.com/2008/09/28/news/pdf/index.htm
The United States Federal Reserve has further notified the China Development Bank, the second largest bank in Asia and the main holder of US mortgage debt instruments, that they will be designated by the US Secretary of the Treasury as one of the financial institutions protected by this extraordinary new law, and which, according to these reports, will empower Chinese policing authorities the right to act as law enforcement officers in the United States including granting them the right to evict American citizens from homes whose mortgage debt is held by China.
Unfortunately for these American people, their own public officials have totally abandoned them as the American Center for Responsive Politics has reported that the staggering amount of $2 Billion has been paid by the perpetrators of this Global financial crisis to US Lawmakers, of both political parties, to sell out their fellow countrymen as virtual economic slaves to the all powerful International corporate cartels who now rule over them.
http://www.courier-journal.com/apps/pbcs.dll/article?AID=/20080928/COLUMNISTS20/309280004
It goes without saying, of course, that these Americans do not see themselves in this most truest of lights as they continue living their lives in near total ignorance of the greater catastrophes soon to befall them, all of which they have been, and are continued to be, warned about. But, they continue to laugh off, and spurn, these warnings as they continue to believe the lies being fed them by their propaganda media organs they never seem to realize are nothing but the mouthpieces for the fascist corporate forces delivering them to the slaughterhouses they will come to know all too soon.
Dark Francis did you even read the 3 paragraph from the bottom?
