Obama has given China the right to take over America as collateral for more loans. A couple of questions. Does this really fall within a rational legal definition of eminent domain? Shouldn't this major a step be subjected to vigorous public discussion? How very little does Obams trust or respect his fellow citizens since he makes this gigantic a decision without our advise or consent? This action makes his distain for democratic principles and for American citizens painfully obvious.
On the positive side. I'm definitely not an economist so this is just my baseless intuitive feeling. Funding that that obscenely large stimulus bill with debt rather just printing money would have to be less inflationary. But I'm pretty sure this is only relative since the unbelievable large amounts entering the economy will probably put us on the verge of hyper-inflation. But I don't know enough about the details of the bill yet (though I'm pretty sure I've read more of it than my senators). But I suspect we might be spared some damage from the bill just due to the earmark, pork barrel and out right give aways that is the nature of its poor design. I sense that large amounts of the hundreds of billions will be going to private companies and super rich individuals who might not release very much of the money into general circulation thereby blunting inflationary pressures. Bad news: little will be done by the stimulus to improve employment and economic growth; good news: inflation might not be as bad as originally feared but large groups of very wealthy companies and people will be in the debt of thee Democrat party.
Below is the story about the sale of America in toto from LiveLeak.
February 26, 2009
FEDS GRANT EMINENT DOMAIN AS COLLATERAL TO CHINA FOR U.S. DEBTS!
Beijing, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED to me that the United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's continu More..ed purchase of US Treasury Notes and existing US Currency reserves!
The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.
This means that in the event the US Government defaults on its financial obligations to China, the Communist Government of China would be permitted to physically take -- inside the USA -- land, buildings, factories, perhaps even entire cities - to satisfy the financial obligations of the US government.
Put simply, the feds have now actually mortgaged the physical land and property of all citizens and businesses in the United States. They have given to a foreign power, their Constitutional power to "take" all of our property, as actual collateral for continued Chinese funding of US deficit spending and the continued carrying of US national debt.
This is an unimaginable betrayal of every man, woman and child in the USA. An outrage worthy of violent overthrow.
I am endeavoring to obtain images or copies of the actual document but in the interim, several different sources both in the US and in China have CONFIRMED this to me.
More details as they become available. . . . . spread the word ASAP.