China Bankrupting America Now?

Remember how the USA bankrupted the Soviet Union?  We did it by announcing Star Wars Missile Defense program.  We knew it would cost a whole bunch of money and Russia knew they couldn't keep up with that level of military spending and they started coming apart.

Is China going to pull the same move on us?

Mark Stein, substituting for radio talk show host Rush Limbaugh, was asked by a caller to the program on Friday, March 23, something like the following: “What do you think is China’s reason for building their military at such a rapid rate? Is it because they think they need to prepare to defend their interests against an attack? Or is it because they intend to attack others in a first strike at some point in the future?”

The British-accented political pundit said he personally senses that China is trying to bankrupt the American economy in much the same way the U.S.–under Ronald Reagan’s presidency—caused the Soviet economy to implode. The twist, Stein implied, is that China is accomplishing the bankrupting process through the debt owed China by this nation. Fully 80 percent of China’s military buildup, he believes, has been funded to this point by the interest on the debt America owes the Chinese communist government.

For most of the latter part of the twentieth century, the fear was that the Chinese communist leaders would one day use their overwhelming numbers to militarily invade all of the territory under their hegemony. But then came the new-found economic development brilliance within that leadership. And now, it is an invasion of another sort–replacing the petrodollar and the U.S. with another sort of power-wielding currency.

Here:  http://raptureready.com/rap16.html

We know our dollar will not be the reserve currency forever...it WILL FAIL...because all paper currencies eventually do.  The question is whether it will happen really fast or if it will be a slow deterioration.

What we do know is that China is not going to loan us money to go to war against them...that just ain't happenin'.