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.”
Here Are 5 Insane Books Elementary Schools Are Offering Kids
The Answer To America’s Food Security Woes
Trump pardons 9 people convicted of tampering with emission controls on diesel engines
Pope Leo urges US to welcome immigrants in America 250 speech before visiting global migrant hotspot
Iran begins Khamenei’s funeral 126 days after assassination
July 1776 Copy of Declaration of Independence Discovered Outside US in Foreign Navy Captain’s Papers
WATCH – Charlie Kirk’s Final July 4 Message: ‘Why America Is a Christian Nation’
Trump’s Mount Rushmore address features 28 minutes of iconic words, 23 minutes of dazzling light, fireworks
Thune and Trump share friendly greeting after critical clashes
CEO’s fire death sparks mystery, will fight over tech titan’s fortune
Top Trump official touts how DC makeover is proof America is rejecting ‘decline by choice’
Pro-Trump artist unleashes powerful message about American flag, touts massive Old Glory painting
House Dems dodge questions on SCOTUS trans athlete ruling, shift blame to ‘culture wars’
Al Green responds to July 4 question with renewed call to impeach Trump
Trump hails America as ‘most exceptional nation ever to exist’ in Mount Rushmore speech
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.
Here Are 5 Insane Books Elementary Schools Are Offering Kids
The Answer To America’s Food Security Woes
Trump pardons 9 people convicted of tampering with emission controls on diesel engines
Pope Leo urges US to welcome immigrants in America 250 speech before visiting global migrant hotspot
Iran begins Khamenei’s funeral 126 days after assassination
July 1776 Copy of Declaration of Independence Discovered Outside US in Foreign Navy Captain’s Papers
WATCH – Charlie Kirk’s Final July 4 Message: ‘Why America Is a Christian Nation’
Trump’s Mount Rushmore address features 28 minutes of iconic words, 23 minutes of dazzling light, fireworks
Thune and Trump share friendly greeting after critical clashes
CEO’s fire death sparks mystery, will fight over tech titan’s fortune
Top Trump official touts how DC makeover is proof America is rejecting ‘decline by choice’
Pro-Trump artist unleashes powerful message about American flag, touts massive Old Glory painting
House Dems dodge questions on SCOTUS trans athlete ruling, shift blame to ‘culture wars’
Al Green responds to July 4 question with renewed call to impeach Trump
Trump hails America as ‘most exceptional nation ever to exist’ in Mount Rushmore speech
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.
