Record deficits and a crashing economy appear to be taking a toll on the young Barack Obama Administration. The Administration has been talking about hiking income taxes and perhaps instituting a VAT tax.
China is also concerned with the mounting deficits in the United States budget. China is the single biggest holder of US Treasury Bonds and is one of Washington's biggest trading partners. The People's Republic has had a burgeoning economy, but is increasingly wary of the falling US dollar.
While the exact amount of Chinese ownership of US treasuries is unknown, it is estimated to add up to over a trillion dollars. If China were to call in US guarantees on these bonds, economists fear it could lead to an economic collapse larger than the Great Depression.
China has recently expanded its defense budget, ostensibly to keep up with its economic growth. China is reportedly working on its own version of a stealth bomber (the US has the only functioning model) but is lagged by technological defects.
On April 1st, President Obama spoke to Chinese Premier Hu Jintao during the G20 Summit. During this meeting, Mr. Hu expressed interest in writing off some of the US debt in exchange for military technology. The President has since referred the matter to Defense Secretary Robert Gates.
The Defense Department is reportedly furious with the President's proposal to sell blueprints of the B-2 Spirit stealth bomber to the People's Republic. Gates has flatly rejected the President's plan, but has since been asked to step down if he will not facilitate the process.
According to the deal, the United States would sell the plans for the B-2, along with radar-absorbing paints and metals in exchange for $50 billion in debt relief. The B-2 cost the US government $23 billion to develop the bomber in the 1980s.
According to the Administration, this proposal will help the United States resolve its debt issues. They point out their belief that the B-2 bomber is "strategically obsolete", according to a source in the White House Press Office. In addition, the source claims that the Chinese would be unable to create their own functioning stealth bomber fleet for "at least eight years."
American allies Taiwan, Japan, and South Korea are very wary of the proposal. Koo Syi, a geopolitical analyst from South Korea, points out that this technology could be passed to China's allies. This was the case when Chinese nuclear technology was transferred to Pakistan and North Korea. According to Koo, Obama has rendered US allies' opinions as "irrelevant."
While this proposal is controversial, it is not being presented to Congress, where it could meet with stern opposition. Instead, the State Department has been informed to assisted the Defense Department with the transfer of materials.
Richard Hogarty
Boston Reviewer
June 1, 2009
(I do not know the validity of this story, it is obviously very controversial, and only time will tell what the actual truth is.)
So he wants to sell our Military Technology, then not allow China to create their own Stealth Bombers for 8 years...(when he thinks he'll be out of Office)? How nice of him! Why doesn't he just wrap the information up in a big pretty box with a bow on it, and send it straight to freakin' Kim Jong-il in North Korea?
In the mean time, he wants to turn us into France by adding the VAT Tax. Does anybody else see a huge problem here?
Why should the Chinese pay official prices for technology when they can bribe someone in the Administration for much less money to get almost the same information?
The Chinese are concerned that the US Congress and our President have the fiscal restraint of an Amelda Marcos in a shoe store with a limitless credit card. They realize that the US government cannot continue to spend money on vote buying schemes while destroying wealth creatoin.
They probably also realize that countries which get into jackpots sometimes do stupid stuff, like starting wars. The Chinese are definitely NOT INTERESTED in starting wars with the US. It's not that they're afraid, they realize that wars can be won in "other ways" besides direct combat.
This man continues his drive to kill this country and it's industry. He is a non-american raciest and were is our congress in all this. Standing in the streets watching it all go by and saying nothing. What a bunch of .....s
When I first looked at the heading of this blog, I thought, this can't possibly be true. I then read the facts with a doubting eye. Now, I see this really could have happened. It is just another example of how Obama is more concerned about his presidency that he is in security of our nation. No wonder the democrats are trying to get rid of the CIA. They should be all over this like "stink of shit."
Instead they are pointing their collective fingers at another distractional "shiny object" in hopes of taking the heat, as well as Americas eyes off of the ball just long enough to pass some other B.S. legislation in some back room bargain. B.S. business as usual with this regime.....
Sounds like Obama, is he going to apologize as well, or maybe he already did that and I missed it... I can't stand to listen to the man talk- he sounds just like a gutter preacher when he speaks...
Who cares? I mean, China has a good stock of weapons of mass destruction already active. They could already launch an attack that wipes out the planet. Who cares if they can make a ruddy plane? What, are you worried they're going to snap stealth video of you in the bedroom and post it on youtube?
The world is already filled with so many warmongers and people who think that anger is power and winning a fight means you're strong. Who gives a flying fling (pun intended) if Obama sells a stupid plane to China? Good for him.
even if this was true..which its not..our technology is much more far advanced than the B-2.... it would shock you..and the stuff that would shock you, they'll deny they have for 20 years...
Never herd him play the piano, but he sure could play the ukulele, Dwarfed the thing too, as he was a big man. I was referring to A Christmas Carrol's Tiny Tim. (Not meant to offend either)
So lets hand over our "element of surprise" to a communist country to relieve us of about 5% of our debt to them. After all, they did such a great job of keeping our dangerous technologies that we have given them in the past. What idiots we have become with the intelligence that we have been blessed with.
If this story turns out to be true, I will be surprised. But in the interim, until we do find out, I support Obama's proposition. The American debt is outrageous, and he is only trying to protect our asses until a better solution is devised. Why worry about warfare now when our economy could plummet into a devastating depression? I believe in solving one problem at a time, and if more problems arise, then we will deal with them when the time comes, whether or not it takes eight years and a new president in office.
Don't forget that Clinton gave/sold the information on our advanced space technology that could be used for nuclear combat!
Sure, let's make the world a more peaceful place by giving/selling our few advances that have kept us a little safer. After all, "All we need is Love" and all that B.S....
"Clinton Gave China Chips for Nuclear War
Charles R. Smith Wednesday, Oct. 1, 2003
Newly declassified documents show that President Bill Clinton personally approved the transfer to China of advanced space technology that can be used for nuclear combat.
The documents show that in 1996 Clinton approved the export of radiation hardened chip sets to China. The specialized chips are necessary for fighting a nuclear war. "
Giving away military secrets used to be called Treason. Punishable by Death. Since when did the rules change. Oh,I get it .This is the change that we can live with Obama promised us during his campaign. ( super)
First verify the story. Since the story may not even be valid( did you get it from Fox News?) to comment on it would be just naval play. But since I was playing with my naval anyway..... The B2 Bomber is 1980 technology. That means it is 28 year old technology. I doubt it is really viable in 2008. Maybe no one has it because it is worthless. Out dated in concept. Look for wars to be fought in cyber space. By manipulating bank accounts and freezing and drying out a few major accounts more damage can be done. Also to freeze a countries systems for military or for banking would inflict more damage then a bomb and kill no one.
In 1944 Hitler planned to destroy the USA by printing counterfeit money. Since a country can print real counterfeit money on the same paper and with the same presses there would be no way to tell. But the influx would cause the currency to devalue rapidly. This is the high tech of the WWII era. Today it can all be done on computers. Remember the Y2K scare? Though it was just that it had to be fixed well ahead of time.
While I don't know if that is a wise choice given North Korea it would help with a debt with China. Remember China is suffering as well. I have friends there and in some cases they are worse off then us. China is not likely to call in a d...
First verify the story. Since the story may not even be valid( did you get it from Fox News?) to comment on it would be just naval play. But since I was playing with my naval anyway..... The B2 Bomber is 1980 technology. That means it is 28 year old technology. I doubt it is really viable in 2008. Maybe no one has it because it is worthless. Out dated in concept. Look for wars to be fought in cyber space. By manipulating bank accounts and freezing and drying out a few major accounts more damage can be done. Also to freeze a countries systems for military or for banking would inflict more damage then a bomb and kill no one.
In 1944 Hitler planned to destroy the USA by printing counterfeit money. Since a country can print real counterfeit money on the same paper and with the same presses there would be no way to tell. But the influx would cause the currency to devalue rapidly. This is the high tech of the WWII era. Today it can all be done on computers. Remember the Y2K scare? Though it was just that it had to be fixed well ahead of time.
While I don't know if that is a wise choice given North Korea it would help with a debt with China. Remember China is suffering as well. I have friends there and in some cases they are worse off then us. China is not likely to call in a debt on the US if it does not want to go into the dark ages. We would single handedly ruin their economy.
I wouldn't worry so much about Obama. He has a good head on his shoulders and despite being new and young he is about 50 thousand times smarter then 'W" .
China is America’s daddy and you fools know this … it is not Obama faught that China is our Daddy you can thank Dubya and the rest of the ReTHUGlicans …. They the ones that orginally went over there with their hands out … so suck it up biotches as you better recognize …. And stop acting as if you did not know ….
OK I'll start with some fine China girls! LOL. You say that while your Wall Mart shoes are on your Wall mart sox. All made in China. If you don't like it don't buy Chinese stuff demand American goods. But America has to build quality. Not just expensive crap.
Undecided
The Chinese are concerned that the US Congress and our President have the fiscal restraint of an Amelda Marcos in a shoe store with a limitless credit card. They realize that the US government cannot continue to spend money on vote buying schemes while destroying wealth creatoin.
They probably also realize that countries which get into jackpots sometimes do stupid stuff, like starting wars. The Chinese are definitely NOT INTERESTED in starting wars with the US. It's not that they're afraid, they realize that wars can be won in "other ways" besides direct combat.
WTF this is outrageous.
WTF this is outrageous.
WTF this is outrageous.
WTF this is outrageous.
The lier's, lying White Boy....For the sheeple masses.
WTF this is outrageous.
WTF this is outrageous.
Fireworks
Their our friends, it's fine.
WTF this is outrageous.
Undecided
Undecided
Undecided
The world is already filled with so many warmongers and people who think that anger is power and winning a fight means you're strong. Who gives a flying fling (pun intended) if Obama sells a stupid plane to China? Good for him.
Undecided
You guys are gulable.
Their our friends, it's fine.
WTF this is outrageous.
I was referring to A Christmas Carrol's Tiny Tim.
(Not meant to offend either)
WTF this is outrageous.
Their our friends, it's fine.
WTF this is outrageous.
WTF this is outrageous.
WTF this is outrageous.
Sure, let's make the world a more peaceful place by giving/selling our few advances that have kept us a little safer. After all, "All we need is Love" and all that B.S....
"Clinton Gave China Chips for Nuclear War
Charles R. Smith Wednesday, Oct. 1, 2003
Newly declassified documents show that President Bill Clinton personally approved the transfer to China of advanced space technology that can be used for nuclear combat.
The documents show that in 1996 Clinton approved the export of radiation hardened chip sets to China. The specialized chips are necessary for fighting a nuclear war. "
WTF this is outrageous.
Undecided
In 1944 Hitler planned to destroy the USA by printing counterfeit money. Since a country can print real counterfeit money on the same paper and with the same presses there would be no way to tell. But the influx would cause the currency to devalue rapidly. This is the high tech of the WWII era. Today it can all be done on computers. Remember the Y2K scare? Though it was just that it had to be fixed well ahead of time.
While I don't know if that is a wise choice given North Korea it would help with a debt with China. Remember China is suffering as well. I have friends there and in some cases they are worse off then us. China is not likely to call in a d...
In 1944 Hitler planned to destroy the USA by printing counterfeit money. Since a country can print real counterfeit money on the same paper and with the same presses there would be no way to tell. But the influx would cause the currency to devalue rapidly. This is the high tech of the WWII era. Today it can all be done on computers. Remember the Y2K scare? Though it was just that it had to be fixed well ahead of time.
While I don't know if that is a wise choice given North Korea it would help with a debt with China. Remember China is suffering as well. I have friends there and in some cases they are worse off then us. China is not likely to call in a debt on the US if it does not want to go into the dark ages. We would single handedly ruin their economy.
I wouldn't worry so much about Obama. He has a good head on his shoulders and despite being new and young he is about 50 thousand times smarter then 'W" .
WTF this is outrageous.
WTF this is outrageous.
Undecided
WTF this is outrageous.
WTF this is outrageous.