Is this true or an internet rumor?
Impeachment Time: Obama Grants Eminent Domain Rights to China to Secure Debt
February 27, 5:11 PM
The time for partisan bickering just ended. This is as serious as a heart attack. Obama is going to spend so much money, which he intends to get from China via the sale of government backed bonds, that the Chinese apparently don't think he'll be able to make good on them.
So President Obama gave the Chinese eminent domain rights to American land and businesses as collateral - i.e. we don't pay, they now own America.
From Patriot Room.
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.
UPDATE (March 3, 2009):
World Net Daily contacted the State Department for a comment on the story.
The State Department says there is "no factual basis" to an Internet rumor that went viral over the weekend claiming Secretary of State Hillary Clinton was willing to pledge American homes to China as collateral for Beijing buying U.S. debt.
The rumor, in various versions, claimed Clinton brought with her last month to Beijing a written agreement offering to extend to China the option to exercise eminent domain rights within the U.S. The rights purportedly were offered as collateral for China's continued willingness to purchase additional trillions of dollars in U.S. Treasury debt the Obama administration hopes to sell to finance projected federal budget deficits.
"There is no factual basis or substance to this report," Laura Tischler, a State Department press officer, e-mailed WND in response to an inquiry.. . .
Underlying the Internet rumor was the fact that a major purpose of Clinton's February trip to China was to make sure the Chinese would continue to buy U.S. Treasury debt in the trillions of dollars the Obama administration will need to fund the massive budgetary deficits planned for economic bailouts and an unprecedented expansion of the welfare state.
So Clinton went to China to give (still unspecified) assurances that the Obama Administration's blowing of trillions of Chinese-backed tax dollars on pork wouldn't jeopardize the United States' ability to pay the debt. That must have been a pretty tough sell. So, though the State Department denies the claim of grants of eminent domain rights, Clinton reportedly did calm Chinese nerves by earnestly telling them that we would pay the bills, "Cross my heart, hope to die, stick a needle in my eye."
If that is good enough for the ChiComs, it is good enough for me.
China Needs U.S. Guarantees for Treasuries, Yu Says
Feb. 11 (Bloomberg) -- China should seek guarantees that its $682 billion holdings of U.S. government debt won’t be eroded by “reckless policies,” said Yu Yongding, a former adviser to the central bank.
The U.S. “should make the Chinese feel confident that the value of the assets at least will not be eroded in a significant way,” Yu, who now heads the World Economics and Politics Institute at the Chinese Academy of Social Sciences, said in response to e-mailed questions yesterday from Beijing. He declined to elaborate on the assurances needed by China, the biggest foreign holder of U.S. government debt.
Benchmark 10-year Treasury yields climbed above 3 percent this week on speculation the government will increase borrowing as President Barack Obama pushes his $838 billion stimulus package through Congress. Premier Wen Jiabao said last month his government’s strategy for investing would focus on safeguarding the value of China’s $1.95 trillion foreign reserves.
China may voice its concerns over U.S. government finances and the potential for a weaker dollar when Secretary of State Hillary Clinton visits China on Feb. 20, according to He Zhicheng, an economist at Agricultural Bank of China, the nation’s third-largest lender by assets. A People’s Bank of China official, who didn’t wish to be identified, declined to comment on the telephone.
“In talks with Clinton, China will ask for a guarantee that the U.S. will support the dollar’s exchange rate and make sure China’s dollar-denominated assets are safe,” said He in Beijing. “That would be one of the prerequisites for more purchases.”
Chinese Foreign Ministry Spokeswoman Jiang Yu said yesterday that talks with Clinton would cover bilateral relations, the financial crisis and international affairs, according to the Xinhua news agency.
Now I don't know if this is true or not but with the thret of marshal law last year they were 2 mimutes away from having it enacted. Military Persons were in the gallery. We still don't know where all the money has gone. Does anything seem far fetched any more? Don't forget that MRS Clinton is after all a CFR member and if I am not mistaken she or her husband belongs to or is tied to the Tri Lateral Commision. Don't get me started on the spending bill. All China has to do is start buying Comodies again and then Inflation goes through the roof.
Oil Rises a Third Day as China Says It Will Increase Investment
March 5 (Bloomberg) -- Crude oil rose for a third day in New York, extending yesterday’s surge, as China said it will “significantly increase” investment this year to boost its economy, potentially draining ample supplies of the fuel.
Oil climbed 9 percent yesterday after an official said Chinese Premier Wen Jiabao may announce new measures to spur expansion, adding to a 4 trillion yuan ($585 billion) spending plan. A U.S. government report yesterday showed an unexpected decline in crude-oil inventories last week as OPEC cut production.
“There are signs of optimism about the economy after weeks of very bleak news,” said Michael Lynch, president of Strategic Energy & Economic Research, in Winchester, Massachusetts. “We are also starting to see the OPEC production cuts impact inventories here.”
Crude oil for April delivery rose 22 cents, or 0.5 percent, to $45.60 a barrel at 11:26 a.m. Sydney time on the New York Mercantile Exchange. Yesterday, futures rose $3.73 to $45.38. Prices are up 1.7 percent so far this year.
Why do I think you should get into oil now?
Because of China and Iran. Something is up and I don't know what?
Iran seals ‘09 term fuel oil export; up 60% Reuters/Dubai/Singapore
Iran, a regular exporter of fuel oil, has concluded its 2009 term supply deal at a premium of $7 to $8 a tonne to Middle East quotes, FOB, about 60% higher versus last year, traders have said.
The deal will see Iran supply up to 400,000 tonnes a month to lifters, steady to contracted volumes in the previous year, but the higher premium could be due to less overall fuel oil supply available for exports in order to meet domestic demand, traders said.
National Iranian Oil Company (NIOC) has already halted spot exports of the heavy residual fuel for the first-quarter of 2009, due to strong domestic demand for power generation during the winter season. Buyers were not immediately known, but traders said Chinese state trader Zhuhai Zhenrong Corp was one of them.
How will the recovery go if inflation hits?