September 25, 2008

China banks told to HALT lending to U.S. banks

It had to happen sooner or later and China had to be first because they hold so many "dollars" in their national reserves. Folks, this is the clearest sign yet that the financial plug is being pulled on the United States.

Through its rampant deficit spending, our government has ruined this nation. They have run up over nine trillion dollars in national debt.

Through its politically-correct mandates to lend to minorities without checking their credit, verifying their employment or other normal credit vetting, the government caused the sub-prime mortgage crisis.

Governments around the world know our government is bankrupt. They know our government has little chance of paying off its debt. Now one such government, China, has told its banks to halt lending to U.S. banks. This will cause other countries to do the same.

With lending cut off, the United States will succumb.

Details Here