America should coordinate with allies to seize China’s holdings of U.S. Treasury and other state treasuries’ obligations as compensation for the one-party state’s negligence regarding the coronavirus outbreak, said Gordon Chang, Daily Beast columnist and author of The Great U.S.-China Tech War.
“I think the United States should seize China’s holdings of U.S. treasuries,” said Chang on Wednesday’s edition of SiriusXM’s Breitbart News Daily in an interview with host Alex Marlow.
We should do this in conjunction with the issuers of the other major occurrences,” added Chang, specifying Canada, the U.K., Switzerland, and Japan. “If we act alone, China is going to say that we repudiated our debt. We’re going to take a reputational hit, which is going to be a big one. Also, they’re going to say that we are an irresponsible member of the global financial system, and that the [U.S.] dollar shouldn’t be the reserve currency of the world.”
Fox News Campus Radicals Newsletter: Anti-Kirk teacher honored, ICE supporter expelled, Pride display problem
Judge defends barring cameras from Karmelo Anthony murder trial, says it was ‘an easy decision’
Armed Citizens Stop Supermarket Shooter In Missouri
New Declassified Docs Give Tulsi Gabbard The Last Laugh On Ukrainian Biolabs
Socialist Mayor Floats Taking Guns Away From Pimps Instead Of Just Arresting Them For Trafficking
Leading Democrat Senate Candidate’s Ex-Staffer Charged For Alleged Pro-Terrorist Vandalism
Obama Presidential Center’s $470M safety net under scrutiny as subcontractors say they’re owed millions
Trump picks James McDonald to lead powerful Southern District of New York after Jay Clayton’s departure
Texas GOP convention’s live elephant steals the show — for all the wrong reasons
Rubio, Newsom share World Cup spotlight at US opener as 2028 presidential speculation swirls
Multiple people wounded in shooting at South Carolina’s largest mall, authorities detain suspects
Helicopter footage captures Florida man allegedly abandoning child during high-speed chase from deputies
Death threats from ‘TDS’ song show it’s ‘about the right thing’: Natasha Owens
Workers rip Trump name from Kennedy center facade months after it goes on, hours after failed appeal
US opens its home World Cup with a dynamic 4-1 victory over Paraguay, sparked by Balogun’s 2 goals
LISTEN:
Chang continued, “If we act with our allies and friends — the issuers of these other currencies — we can take away that argument from China. We can never take enough money from China to compensate us. We’ve lost so many people. We will lose so many people. Even just if you looked at the the financial damages, China doesn’t have enough assets in the world to compensate the United States, much less other countries. Nonetheless, we’ve got to deter bad actors including China from doing what they did in spreading this disease.”
Chang added, “All we have to do is [have] the Treasury Department and the President of the United States say, ‘We’re not paying you back. We’re confiscating your holdings of treasuries.’”
Washington’s seizure of China’s U.S. Treasury holdings would be coordinated with parallel measures from in Ottawa, London, Brussels, Bern, and Tokyo, according to Chang’s proposal.
Fox News Campus Radicals Newsletter: Anti-Kirk teacher honored, ICE supporter expelled, Pride display problem
Judge defends barring cameras from Karmelo Anthony murder trial, says it was ‘an easy decision’
Armed Citizens Stop Supermarket Shooter In Missouri
New Declassified Docs Give Tulsi Gabbard The Last Laugh On Ukrainian Biolabs
Socialist Mayor Floats Taking Guns Away From Pimps Instead Of Just Arresting Them For Trafficking
Leading Democrat Senate Candidate’s Ex-Staffer Charged For Alleged Pro-Terrorist Vandalism
Obama Presidential Center’s $470M safety net under scrutiny as subcontractors say they’re owed millions
Trump picks James McDonald to lead powerful Southern District of New York after Jay Clayton’s departure
Texas GOP convention’s live elephant steals the show — for all the wrong reasons
Rubio, Newsom share World Cup spotlight at US opener as 2028 presidential speculation swirls
Multiple people wounded in shooting at South Carolina’s largest mall, authorities detain suspects
Helicopter footage captures Florida man allegedly abandoning child during high-speed chase from deputies
Death threats from ‘TDS’ song show it’s ‘about the right thing’: Natasha Owens
Workers rip Trump name from Kennedy center facade months after it goes on, hours after failed appeal
US opens its home World Cup with a dynamic 4-1 victory over Paraguay, sparked by Balogun’s 2 goals
Marlow concurred, “We need to have some sort of level of of punishment or retribution. … The word that comes to mind for me is reparations.”
China’s initial denials of the coronavirus’ human-to-human transmissibility caused delayed global reaction to the viral outbreak, Chang remarked.
“What the media has done in the United States is adopt China’s narratives without fully explaining them,” stated Chang. “That is a dereliction of their duty.”
Chang maintained his call for decoupling the U.S. economy from China.
“I think we can cut our relations [with China] not in decades, but in months, especially if President Trump is reelected,” Chang said. “Of all the people who are running, [Donald Trump] is the one who is the most skeptical of China. He’s the one who’s actually changed America’s China policy and broken the engagement approach of the last four decades.”
Story cited here.
