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Badtux the Snarky PenguinIn a time of chimpanzees, I was a penguin. Religious fundamentalists are motivated by the sneaking suspicion that someone, somewhere, is having fun -- and that this must be stopped. |
Tuesday, August 22, 2006Why attacking Iran is a *very* bad idea...China's foreign-currency reserves have overtaken those of Japan to become the world's largest as the central bank buys dollars and sells yuan to keep the exchange-rate stable. Its holdings surged 32.8 percent from a year ago to $875.1 billion as of the end of March, the central bank said on April 14.Since China is a Communist dictatorship, they could care less about the value of the Yuan if they flood the market with all those dollars. But they have the ability to destroy the U.S. dollar and destroy the U.S. treasury all in one fell swoop (most of those dollar holdings are U.S. treasury bonds -- approximately 1/4th of the U.S. treasuries outstanding WORLD-WIDE, the rest are in the Social Security trust fund). If the dollar is worthless, the U.S. government won't be able to sell treasury bonds. If the U.S. government can't sell treasury bonds, the U.S. government is bankrupt. In short: China needs Iran, and they have the U.S. by the balls, thanks to the inept borrow-and-spend policies of the Bush Administration, which has managed to put our nation's fiscal health into the hands of a Communist dictatorship. Nevertheless, I expect the bombs to be falling on Iran by November 1 at the latest. -- Badtux the Geopolitics Penguin Posted by: BadTux / 8/22/2006 04:05:00 PMComments:Post a Comment<< Home |
About Me
I am a black and white and yellow multicolored penguin making his way as best he can in a world of monochromic monkeys. ArchivesApril 2004 / December 2004 / January 2005 / February 2005 / March 2005 / April 2005 / May 2005 / June 2005 / July 2005 / August 2005 / September 2005 / October 2005 / November 2005 / December 2005 / January 2006 / February 2006 / March 2006 / April 2006 / May 2006 / June 2006 / July 2006 / August 2006 / September 2006 / October 2006 / November 2006 / December 2006 / January 2007 / February 2007 / March 2007 / April 2007 / May 2007 / June 2007 / July 2007 / August 2007 /
Cost of the War in Iraq
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"Keep fighting for freedom and justice, beloveds, but don't forget to have fun doin' it. Lord, let your laughter ring forth. Be outrageous, ridicule the fraidy-cats, rejoice in all the oddities that freedom can produce." -- Molly Ivins, 1944-2007
"The penalty good men pay for indifference to public affairs is to be ruled by evil men."
-- Plato
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