Senator Graham Wants to Default on $1 Trillion Debt Owed to China
Senator Lindsey Graham proposes the US should default on the Chinese holding of US treasuries.
By Mish , Apr 26, 2020
https://www.thestreet.com/.amp-mishtalk ... d-to-china
The US economically illiterate nutcases are out this weekend led by Senator Graham.
The Senator proposes a Pandemic Tariff https://timesofindia.indiatimes.com/wor ... 381501.cms including cancelling all debt owed to China.
Anger in political circles, particularly in the Republican Party, has manifested itself in legislative proposals seeking to allow U.S citizens to sue China in American courts for the pandemic, calling for sanctions on Chinese officials
Former US ambassador to the UN and former South Carolina governor, Indian-American Nikki Haley, widely seen as a prospective last-minute vice-presidential nominee for a Trump second term, is among those pressing for action against Beijing.
Haley said in a STOP Communist China petition that received rousing endorsement in Republican circles this week.China’s Communist government needs to be held accountable for their role in lying about the Coronavirus pandemic, and the US Congress needs to respond – now,
Other US lawmakers want to go even further. In a precipitate suggestion, Haley’s fellow South Carolinian, Senator Lindsey Graham, who has President Trump’s ear, called for cancelling the more than $1 trillion in U.S treasury securities that China holds.
A US default would be economic suicide, collapse the US dollar, collapse the stock market and throw the entire global currency system into chaos.
But it would do wonders for gold.