China Downgrades US Credit Rating, Warns US Insolvency Could “Detonate Next Crisis”

China Downgrades US Credit Rating, Warns US Insolvency Could “Detonate Next Crisis”

(ZHE) — In its latest reminder that China is a (for now) happy holder of some $1.2 trillion in US Treasurys, Chinese credit rating agency Dagong downgraded US sovereign ratings from A- to BBB+ overnight, citing “deficiencies in US political ecology” and tax cuts that “directly reduce the federal government’s sources of debt repayment” weakening the base of the government’s debt repayment.

Oh, and just to make sure the message is heard loud and clear, the ratings, which are now level with those of Peru, Colombia and Turkmenistan on the Beijing-based agency’s scale of creditworthiness, have also been put on a negative outlook.

In a statement on Tuesday, Dagong warned that the United States’ increasing reliance on debt to drive development would erode its solvency. Quoted by Reuters, Dagong made specific reference to President Donald Trump’s tax package, which is estimated to add $1.4 trillion over a decade to the $20 trillion national debt burden.

“Deficiencies in the current U.S. political ecology make it difficult for the efficient administration of the federal government, so the national economic development derails from the right track,” Dagong said adding that “Massive tax cuts directly reduce the federal government’s sources of debt repayment, therefore further weaken the base of government’s debt repayment.”

http://theantimedia.org/china-downgrades-us-credit-rating/

Well, this is just peachy. The good news just keeps rolling in on all fronts. /s

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snoopydawg's picture

to destabilize China soon.

High alert for potential false flag operations against China

Sibel Edmonds, founder and editor-in-chief of the independent news website NewsBud, says that CIA is about to proceed in false flag operations in the next few months to destabilize China.

Sibel Edmonds has been gagged since before 9/11/2001. I'm not sure what information she has that's been ruled top secret classified, but I'd love to see it.

I thought that when republicans are in power that deficits don't matter? Isn't that what Cheney told us?

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12 users have voted.

Our culture is gutter. We celebrate deviancy. We are corrupt. We are broke. We are holding a gun at the rest of the world’s head. We demand what is not justly ours

@snoopydawg

Bet you're right; it's what they know, it's what they do and the indications certainly line up...

Well, at least China will be on the alert for this ever-repeated filthy trick and can hopefully produce evidence which can be internationally displayed. The US corporate media may be unlikely to find this an interesting story, but other countries might not necessarily have the same degree of slaved media. The US PTB, their lackeys and their ilk must be removed from policy-making and their stolen power returned to The People, to whom it belongs - and it's long past time as well that the various international others were held accountable for their destructive conspiracy and actions. I dreamz a lot, it's a better, kinder, gentler place.

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9 users have voted.

Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

The first thing that popped into my head was that maybe this would make Trump think. And then, of course, I realized...

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10 users have voted.

Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Pluto's Republic's picture

@Ellen North

...as the largest holder of US Debt by a privately-owned central bank — the Federal Reserve. I suppose the fiscally depraved tax cuts were the trigger.

That is a queer and artificial arrangement when a non-profit central bank manages to own and hold most of the nation's debt, as a ratio to private investors. It smacks of self-dealing — which is what Quantitative Easing is. The Fed sets the interest rates and the bank itself cannot fail. It can commit any absurdity, and continue on indefinitely. It could even forgive that debt, I suppose, and write it off.

What's important is the fact that the power and value of the US (fiat) dollar does not come from inside the government that prints it. Nor does it gain value from US economic activity and ethics, or lack thereof. A fiat currency's power can only be established by outsiders. Foreigners give a country's fiat currency its power and value — by buying it, holding it, spending it, and especially by accepting it in trade for goods. Foreigners can also become disgusted take its power away, instantly, no matter how much interest the Central Bank promises to pay. It won't be the first time.

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@Pluto's Republic @Pluto's Republic

So, all this concern over China owning so much debt, when America is to be be 'repossessed' by the Federal Reserve, rather than by the international banksters, when Wall St./the US financial system generally bankrupts the country and the financial gangsters drain the dregs?

I don't know anything about this stuff myself, but rather suspect that you would; I looked up the Trilateral Commission and the Federal Reserve:

(All emphasis in quoted material mine.)

https://en.wikipedia.org/wiki/Trilateral_Commission

... History
Founding

Sensing a profound discord among North American, European nations and Japan, the Trilateral Commission was founded to foster substantive political and economic dialogue across the world. To quote its founding declaration:

"Growing interdependence is a fact of life of the contemporary world. It transcends and influences national systems... While it is important to develop greater cooperation among all the countries of the world, Japan, Western Europe, and North America, in view of their great weight in the world economy and their massive relations with one another, bear a special responsibility for developing effective cooperation, both in their own interests and in those of the rest of the world."
"To be effective in meeting common problems, Japan, Western Europe, and North America will have to consult and cooperate more closely, on the basis of equality, to develop and carry out coordinated policies on matters affecting their common interests... refrain from unilateral actions incompatible with their interdependence and from actions detrimental to other regions... [and] take advantage of existing international and regional organizations and further enhance their role."
"The Commission hopes to play a creative role as a channel of free exchange of opinions with other countries and regions. Further progress of the developing countries and greater improvement of East–West relations will be a major concern."[2]

Zbigniew Brzezinski, National Security Advisor to President Jimmy Carter from 1977 to 1981, professor at Columbia University, and a Rockefeller advisor who was a specialist on international affairs, left his post to organize the group along with:[3]

Henry D. Owen, foreign policy studies director at the Brookings Institution
George S. Franklin, executive director of the Council on Foreign Relations in New York[4]
Robert R. Bowie, the Foreign Policy Association and director of the Harvard Center for International Affairs
Gerard C. Smith, SALT I negotiator and its first North American chairman
Marshall Hornblower, former partner at Wilmer, Cutler & Pickering
William Scranton, former governor of Pennsylvania
Edwin Reischauer, professor at Harvard University and United States Ambassador to Japan, 1961–1966
Max Kohnstamm, European Policy Centre
Tadashi Yamamoto, Japan Center for International Exchange[5]

Other founding members included Alan Greenspan and Paul Volcker; both later heads of the Federal Reserve System. ...

And posted this 'must-hear' video the other day, although rather a lot of my opinion got mixed in with the little I made notes on; must listen to it again myself...

https://www.youtube.com/watch?v=MxSTmcwP4QI

Exposing the Dark Agenda Behind the "Resource-Based Economy"
corbettreport

Published on 28 May 2015

SHOW NOTES AND MP3: https://www.corbettreport.com/?p=14902

24/7 surveillance. Smart grid controls. Carbon rationing. Today we talk to "Technocracy Rising" author Patrick Wood about the hidden history of technocracy, the dark plan for a resource-based economy that is being pushed by the Trilateral Commission, the UN, and other globalist institutions in order to bring about a completely managed, controlled and regulated society.

https://www.corbettreport.com/the-dark-agenda-behind-the-resource-based-...

The Dark Agenda Behind the Resource-Based Economy
Corbett05/29/2015

24/7 surveillance. Smart grid controls. Carbon rationing. Today we talk to “Technocracy Rising” author Patrick Wood about the hidden history of technocracy, the dark plan for a resource-based economy that is being pushed by the Trilateral Commission, the UN, and other globalist institutions in order to bring about a completely managed, controlled and regulated society.

SHOW NOTES:
Technocracy Rising

Technocracy Study Course Unabridged

Figueres: First time the world economy is transformed intentionally

Economic Calculation in the Socialist Commonwealth

Every adult in Britain should be forced to carry ‘carbon ration cards’, say MPs

(Embedded video at Corbettreport link; takes a moment to load past initially shown zeros for time - all of these videos are listed down the side at Youtube, all viewed so far lacking URLs... would that be in conjunction with the privatized Domain names? I suppose Youtube could pull URLs for their site in their own? Since they're Google and all? Those videos later regained URLs; Youtube music and other Corbett Report videos I checked all had URLs at the time; keeping this and both URLs for the same video in as a sort of potential warning and back-up, in case this was an indication of upcoming Youtube censorship events.)

In case this video vanishes, fast sloppy notes of some points made, with my commentary mixed in:

Speaks of the technocratic global conquest in progress, and of the desire to micromanage and control individuals 'for efficiency'. The quote stating that, for those involved: "The real enemy is humanity itself" and talk of 'deep transformation' of society shows, as far as I'm concerned, that the real issue is psychopathy. Only a psychopath could believe that 'trans-humanism' - working toward existence without life in a world where only machines or a 'virtual reality' can exist - is a desirable goal to be forced on all. Almost none of whom are intended to survive the process. This has been in process since the 1930's; please recall what the Nazi's were up to at that time, in the 1930s, and how many US and other Nazi sympathizers were in industry, moving into government over the intervening period.

(And - in my venturing to speak in disagreement with what appears to be the speaker's thesis in this one specific area - it seems evident to me that it's the industry and other self-interests in government, and not generic 'government' itself, that interferes with otherwise functional processes to screw over most for the benefit of a relative few. Psychopaths must be kept out of public office.

Modern government is a tool meant to be used by the people, in the public interest, and one which must be used to protect the public interest, in great part by preventing predation by self-interests on the more vulnerable at all levels, for species long-term - now, even very short-term - survival. Even enlightened self-interest would accept this essential fact, were The Psychopaths That Be capable of comprehending this.

Trilateral Commission, World Bank, etc., working toward their own goals; my view is that public office was abused to achieve this encroaching, ongoing horror, not that any sane, democratic government would have done this. A real government of, by and for the people would obviously have prevented this.

Also says that they got Jimmy Carter elected, that, I suspect, being related to his later ? expiation of sins? by working to create housing for the poor in various countries.

They captured the executive branch of the US government, to gain control over the economic machinery of the world - and [my addition] have been destroying the planet ever since.

Says also that John Podesta came from the UN to work as the senior consultant regarding climate change under Obama; NYT claimed that Podesta created Obama's climate change policy, down to the Executive Orders Obama was to sign, to implement these through the Executive branch, and 'recently', at the time of this May, 2015 discussion, left to manage [inserting my point: Fracking Queen, Mad Bomber] Hillary Clinton's campaign.

And when the idea for the formation of the Trilateral Commission to successfully enact previously failed attempts to exert a new economic order was proposed, this was discussed with the Bilderberg group, various members of the latter also joining the Trilateral Commission. Says overlap with CFR [presumably Council of Foreign Relations] the European-based Atlantic Council, the Club of Rome...

Says it was in 1976, with Jimmy Carter, that the Trilateral Commission took over the Executive Branch of government, and that it's never been the same since.

Obama and Biden, while surrounded by Trilateral Commission members, were apparently not members themselves, unlike others, such as Clinton and Al Gore, Bush and Cheney... The Trilateral Commission presents itself as being very green and sustainable; it isn't.

My personal belief is that it's about bleeding the planet dry, as well as the speaker's point that they wish to micro-manage everyone's life, as we have already seen proven - with no indication about any care for not destroying the ecology. Quite the reverse, and very rapidly.

US business interests who were members of the Trilateral Commission were in China before it was even legal, and built the infrastructure which is now , as described in this video, as 'raping America', while China is becoming a dominant global power, apparently powered by various of the Trilateral Commission's self-interests. [How delightful...]

Kinda been wondering, here and there, if perchance some factions within the larger countries being threatened but not yet directly militarily attacked by the US PTB were in on the kabuki, especially since the Clinton/DWS thing about the infiltrating - and evidently protected - Awan brothers (like Sec. of State Hilary herself) were sending out US foreign policy (intimidation/invasion plans) and other Sekrit information to foreign interests/governments - hard to know what to think and what to believe and the amount of salt I've been having to leave various things sitting in, while keeping them handy, can't be doing any good for their blood pressure...

Certain interpretations in this next may seem a bit odd; specifically, the pathologically greedy and power-stealing corporate self-interests of the clearly fascist Trilateral Commission are termed Marxist?! SOCIALIST???!!!

https://www.technocracy.news/index.php/2007/08/03/trilateral-commission-...

The Trilateral Commission: Usurping Sovereignty

Written By: Patrick Wood August 3, 2007

[Editor’s note: For ease of reading, all mem­bers of the Tri­lat­eral Com­mis­sion appear in bold type. This article was written in 2007, one year prior to the author’s discovery of historic Technocracy, which was quickly equated to the Commission’s “New International Economic Order“. ]

...This paper attempts to tell the rest of the story, according to official and unofficial Commission sources and other available documents.

The Trilateral Commission was founded by the persistent maneuvering of David Rockefeller and Zbigniew Brzezinski. Rockefeller was chairman of the ultra-powerful Chase Manhattan Bank, a director of many major multinational corporations and “endowment funds” and had long been a central figure in the Council on Foreign Relations (CFR). Brzezinski, a brilliant prognosticator of one-world idealism, was a professor at Columbia University and the author of several books that have served as “policy guidelines” for the Trilateral Commission. Brzezinski served as the Commission’s first executive director from its inception in 1973 until late 1976 when he was appointed by President Jimmy Carter as Assistant to the President for National Security Affairs. ...

...In considering our structure of governance, Brzezinski stated:

“Tension is unavoidable as man strives to assimilate the new into the framework of the old. For a time the established framework resiliently integrates the new by adapting it in a more familiar shape. But at some point the old framework becomes overloaded. The newer input can no longer be redefined into traditional forms, and eventually it asserts itself with compelling force. Today, though, the old framework of international politics – with their spheres of influence, military alliances between nation-states, the fiction of Sovereignty, doctrinal conflicts arising from nineteenth century crises – is clearly no longer compatible with reality.” 12

One of the most important “frameworks” in the world, and especially to Americans, was the United States Constitution. It was this document that outlined the most prosperous nation in the history of the world. Was our sovereignty really “fiction”? Was the U.S. vision no longer compatible with reality? Brzezinski further stated:

“The approaching two-hundredth anniversary of the Declaration of Independence could justify the call for a national constitutional convention to reexamine the nation’s formal institutional framework. Either 1976 or 1989 – the two- hundredth an anniversary of the Constitution – could serve as a suitable target date culminating a national dialogue on the relevance of existing arrangements… Realism, however, forces us to recognize that the necessary political innovation will not come from direct constitutional reform, desirable as that would be. The needed change is more likely to develop incrementally and less overtly…in keeping with the American tradition of blurring distinctions between public and private institution.”13

In Brzezinski‘s Technetronic Era then, the “nation-state as a fundamental unit of man’s organized life has ceased to be the principal creative force: International banks and multinational corporations are acting and planning in terms that are far in advance of the political concepts of the nation-state.”14 ...

... This nature however, was not unknown or unknowable. Senator Barry Goldwater (R-AZ) issued a clear and precise warning in his 1979 book, With No Apologies:

“The Trilateral Commission is international and is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States. … The Trilateral Commission represents a skillful, coordinated effort to seize control and consolidate the four centers of power – political, monetary, intellectual and ecclesiastical.” 16 ...

... Follow the Money, Follow the Power

What was the economic nature of the driving force within the Trilateral Commission? It was the giant multinational corporations – those with Trilateral representation – which consistently benefited from Trilateral policy and actions. Polished academics such as Brzezinski, Gardner, Allison, McCracken, Henry Owen, etc., served only to give “philosophical” justification to the exploitation of the world.

Don’t underestimate their power or the distance they had already come by 1976. Their economic base was already established. Giants like Coca-Cola, IBM, CBS, Caterpillar Tractor, Bank of America, Chase Manhattan Bank, Deere & Company, Exxon, and others virtually dwarf whatever remains of American businesses. The market value of IBM’s stock alone, for instance, was greater than the value of all the stocks on the American Stock Exchange. Chase Manhattan Bank had some fifty thousand branches or correspondent banks throughout the world. What reached our eyes and ears was highly regulated by CBS, the New York Times, Time magazine, etc.

The most important thing of all is to remember that the political coup de grace preceded the economic coup de grace. The domination of the Executive Branch of the U.S. government provided all the necessary political leverage needed to skew U.S. and global economic policies to their own benefit.

By 1977, the Trilateral Commission had notably become expert at using crises (and creating them in some instances) to manage countries toward the New World Order; yet, they found menacing backlashes from those very crises.

In the end, the biggest crisis of all was that of the American way of life. Americans never counted on such powerful and influential groups working against the Constitution and freedom, either inadvertently or purposefully, and even now, the principles that helped to build this great country are all but reduced to the sound of meaningless babblings. ...

... It would have been damaging enough if the Trilateral domination of theCarteradministration was merely a one-time anomaly; but it was not!

Subsequent presidential elections broughtGeorge H.W. Bush (under Reagan), William Jefferson Clinton, Albert Gore and Richard Cheney (under G. W. Bush) to power.

Thus, every Administration since Carter has had top-level Trilateral Commission representation through the President or Vice-president, or both!

It is important to note that Trilateral domination has transcended political parties: they dominated both the Republican and Democrat parties with equal aplomb. ...

... the World Bank is one of the most critical mechanisms in the engine of globalization.17 Since the founding of the Trilateral Commission in 1973, there have been only seven World Bank presidents, all of whom were appointed by the President. Of these seven, six were pulled from the ranks of the Trilateral Commission! ...

... The point raised here is that Trilateral domination over the U.S. Executive Branch has not only continued and but has been strengthened from 1976 to the present. The pattern has been deliberate and persistent: Appoint members of the Trilateral Commission to critical positions of power so that they can carry out Trilateral policies. ...

And now the Federal Reserve has got the nation in deep, deep debt to them, mainly wasted in further enriching/bailing out such corporate interests (this including the MIC, of course) and billionaires such as themselves, while such financial interests as themselves crash the system and put the nation into receivership, so to speak, again on behalf of the bailed-out financial industry, select portions of which then can own and squeeze America like Greece balls, in a national fire sale for the wealthiest to pick up bargains, over the bodies of the starving dispossessed citizens? isn't that about what this works out to be?

Too tired to see straight, my Drafts won't save, after several tries, so going to post this mess and hope to hear back from you and/or others here Who Know About This Stuff on this. Assuming my connection will stop being disconnected and often, instead of auto-connecting as usual, demand verification every time over extended periods, like now...

Know thine enemy, and all, even if you can't personally do a damn thing to stop them... think I'm going to go cry into my just-washed pillowcase...

Edit: please especially note from above that the Trilateral Commission has been pushing for a Constitutional Convention from as early as 1976 and on, although feeling that 'incremental' change blurring public/private would work for their take-over... the concept of democracy in a country of law, not men, is SO outdated and out of touch with 'reality'.

This feels rather like discovering a colony of ghouls have been tunneling toward and now under your neighbour's house for too damn close to a century without anyone apparently having any idea of this.

No wonder the Federal Reserve biggies were laughing so hard about creating poverty on that video, if they were, as it seems, working on stealing the whole country from its people via co-ordinated, big-time financial scammery.

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2 users have voted.

Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Pluto's Republic's picture

@Ellen North

You captured the most salient points. From this end of the time tube, what evolved looks highly organized and technical. But its important to remember that this sinister amalgam was an organic process, and would likely evolve in the same self-destructive way if there was a do-over. It's a bleak outlook that can be contained by saying that centuries ago, the world deported their defectives almost exclusively to the US.

The people can't find a way out because they don't realize that the bars holding them in the cage are made up of semantics and linguistics. Michael Hudson explained this beautifully, I thought, on one of my favorite shows, The Renegade. It's not necessarily earth shattering, but you might enjoy it if you find the time:

I can't seem to embed the video, but you can find it here:

J is for Junk

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@Pluto's Republic

Thanks for the link - I love Michael Hudson and hadn't seen that. Unfortunately, while the video initially ran beautifully, not far in, it shut down due to an error; after refreshing, it said that it had taken longer than 30 seconds to load and shut off? and the next try got me only another error and refusal to play at all, so I tried looking it elsewhere and after waiting for the page to load and about 20 minutes later, for the actual video to appear, it didn't work on Vimeo, so I went to his site and after spending up to 20 minutes for each page to change in the search for at least something on J Is For Junks Economics, eventually got here, in case anyone else has trouble at that link:

https://michael-hudson.com/2017/08/richard-wolff-interviews/

Richard Wolff interviews
By Michael Saturday, August 19, 2017Interviews J is for Junk Economics

A discussion on duplicitous economics with Richard Wolff. Our conversation begins at 30.50.

This actually says, at bottom: 'This content requires a premium subscription'. so I dunno if I'll get to hear the whole thing...

The video here is actually about a hundred and 6 minutes, so probably about the time I spent getting to it, lol, but I've got to say that I could listen to Prof. Hudson for hours, even if I haven't lately.

Wound up taking it over to youtube so I could get back here while it loads:

https://www.youtube.com/watch?v=653DWJmfTK8

d@w Exclusive: Michael Hudson on Junk Economics update 2017
Economy update 2017

Published on 21 May 2017
d@w Exclusive: Michael Hudson on Junk Economics update 2017.

Help us reach 50,000 subscribers! SUBSCRIBE and share this video with friends.

d@w's Paul Sliker and Dante Dallavalle talk with author and economist Michael Hudson, one of the world’s six economists who accurately predicted the 2007-2008 financial crisis. His new book, J is for Junk Economics, reveals how the mainstream economic vocabulary has been turned around in an Orwellian way to mean just the opposite of what words used to mean. Michael explains how the media and academia use well-crafted euphemisms to conceal how the economy really works, the economy under Obama vs. Trump, and what might be coming next.

I strongly feel that we have to take the language back from those who pervert meanings to sow confusion and that's part of the reason I like him so much; I agree with him and he makes perfect sense to me, lol.

And sure 'nuff, Greenspan, of the Trilateral Commission, set the whole housing bubble up as a Ponzi scheme... and where did all this lost money go? Same place(s) as the others? Wherever that may be... Stinkers! And need to wait for more to load, drat it... this with what's termed a good connection on high-speed, lol.

I sorta generally knew this, dunno why it's getting me even more now... just so many collections of hyper-wealthy psychopathic jerks all scheming in the background, all too detached from reality to realize what they're doing in digging up the ground they stand on, poisoning the air they breathe, the food they eat and the water they drink and the system that sustains them. At least when someone saws off the branch they sit on, there's some chance of survival and you're still on a planet that supports your kind of life...

And the feudalism worsens with apparently, according to the Black Agenda Report, a Supreme Court decision expected to give employers - nearly all corporations due to the monopolists driving smaller business practically into extinction while generally running society into the ground - absolute power over employees, then having no right to organize or even criticize them, or visit websites/discuss anything pertaining to lifting employees. No more freedom of speech or association. And as far as I know, they haven't yet rewritten the US Constitution...

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2 users have voted.

Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.

Pluto's Republic's picture

@Ellen North

...and nothing can be brushed off as random. Details are more dynamic and seem to snap into place by themselves. It feels like things are concluding and loose ends have been joined.

I sorta generally knew this, dunno why it's getting me even more now...

We should be able to see where this is going. The road doesn't branch from here. That's my take, anyway. You are a terrific investigator. It's been fun riding shotgun with you. I'm glad for that. You have a natural affinity for demystification. It's your form of activism, and a damn good one.

Your observations are important. Greenspan is showing up again as the narrative consolidates, and how fitting that is. So much failure began in the void of his empty soul, expressed as his legacy at the Federal Reserve. I am touched by the fact that he was truly blind and handicapped from the beginning. He was just another dumb tool with an American economics education, rather than a sinister figure.

There are some who believe that Americans are more seriously damaged that we realize, and there is no coming back for them. They say we will have to start again from scratch with a new generation to rebuild a sane civilization — after commercial interests and advertising are completely removed from news media and politics. A place like Daily Kos is like a public asylum that should be watched and recorded so we never forget what happens to people who fall victim to economic propaganda. The cost to the economy has been devastating; the cost to humanity has been a modern tragedy for the ages.

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