March 8, 2009
Steve Collins
In my recent blog I commented on a report that China was given the right to foreclose (via eminent domain) on US property to satisfy American debts to China. I chose not to include any links reporting this story as I wasn’t sure about the credibility of these sites. However, this story gained “legs” so rapidly on the blogosphere that the US State Department found it necessary to issue a formal denial that Secretary of State Hilary Clinton had given any such guarantee to China in her recent state visit to Beijing (see first link below). There are so now so many internet sources about this story that you can do a websearch for “China obtains eminent domain rights on US property” and check out many of them for yourself (some are rather “edgy” so be forewarned). Cynics, mindful of the maxim “Never believe anything until it is officially denied” will judge the State Department’s denial of this report to be a de facto confirmation of the story, but you can judge for yourself.
However, the second link below from an establishment website affirms that China did demand a “guarantee” from Sec. Clinton that China will not lose value on its investments in US debt instruments. The US debt is now so gargantuan that some form of default seems inevitable (whether an outright default or a de facto default via high inflation of the US dollar). If China wasn’t given the right to use eminent domain to seize US properties, what “guarantee” did Sec. Clinton give China? However you define such a “guarantee,” it has to involve pledging some form of US collateral to satisfy China’s demands. This blog is for the purpose of pointing out one way China could effectively “foreclose” on US properties without any the need for any formal eminent domain rights. All it would need is the acquiescent of the US government, and Sec. Clinton could have given such a “green light” to China to use this method in the future.
China could already buy up large US companies by purchasing US stocks that have been horrendously deflated. The share prices of huge US companies (General Motors, Chrysler, Ford, Citicorp, Bank of America, GE, etc.) are selling at mere pittances of what they used to sell for not long ago. Given the imploded market capitalization of these iconic US companies, China could, literally, buy up the assets of these companies simply by using its huge dollar reserves to purchase majority ownership of all these US companies via the stock exchanges. If the stock market takes more nosedives, China could buy up majority rights in hundreds of US companies (and all their assets) simply by buying their shares on stock market exchanges at “fire sale” prices. Other nations could do the same thing. Americans could, literally, wake up to learn that their nation’s assets have been transferred to foreign ownership and millions of American workers could find themselves working for foreign “taskmasters.” This could happen without any formal “eminent domain” actions. All that would be needed is the permission of the Obama Administration for China to take this action. One can realize China’s desire to make sure that Obama would not oppose such action given the furor that occurred in Congress when a Dubai company wanted to buy up some port-management facilities at US seaports a few years ago. Congress stopped that deal over the objections of the Bush Administration. Could it be that when our inept Congress gave almost dictatorial powers to the Secretary of the Treasury last fall, it gave away such rights to object to such foreign take-overs? This is possible now that Congress passes bills without bothering to read them. Current Treasury Secretary Geithner reportedly speaks Chinese and once lived in China. Hmmm. It is also reported that “short sellers” are driving down the prices of US exchange-traded firms. I wonder if those massive (and anonymous) short-sellers include Chinese Sovereign Wealth Funds acting to drive the share prices so low that China can buy them up for “pennies on the dollar?”
There is a huge political problem for the Obama Administration, however, if it gives such a guarantee to China. It could be the political “Waterloo” of the Obama Administration. If the US Labor Unions, who powerfully supported and helped elect Obama, realize that Obama has betrayed their workers and sold them out to foreign bosses (who can then dismantle the hard-won salaries and rights of Organized Labor), the Democratic Party could come unglued and there could be a swift rearrangement of US political parties and even the emergence of new, nationalist political parties in the USA.. For that powerful political reason alone, the Obama Administration might renege on any current “guarantees” given to China. If they did so, China (and other lender nations) would feel they had a right to seize US assets by force. Ezekiel 38:11-13 prophesies that an invasion to “seize the assets” of the modern nations of the house of “Israel” (the modern nations descended from the ten tribes of “Israel,” not the modern Jewish state which is the “house of Judah” in biblical prophecy) is going to happen. It appears increasingly possible that the motivation for the prophesied military invasion of Russia, China, Iran, etc. of the USA, the UK, and the western world will be to initiate a “foreclosure” raid. God prophesies in Ezekiel 38:3-4, 10 that he will “put the thought” into the leaders of the Gog-Magog alliance to launch this attack. We may be seeing the motivation for this attack taking shape before our eyes. Lenders do not like to be “stiffed” by their borrowers. When they are “stiffed” by borrowers, they usually send “repo” agents to seize the assets. When nations stiff other nations, nations can send their armies to seize the assets.
Daniel 12:1 and Matthew 24:22 agree that a time of unprecedented global traumas will hit the earth at the end of this age. As the financial foundations of the earth’s financial and monetary systems now teeter on the edge of disintegration, the “birth pangs” of this time of unprecedented trauma may be starting to occur.
http://www.bloomberg.com/apps/news?pid=20601009&sid=a_dsDz145J_A
