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February 27, 2009

Mortgaging America to the Chicoms

Posted by Dave Blount at February 27, 2009 11:55 AM

Unless we are able to reinstate responsible government soon, it might be a good idea to learn Mandarin. Here we see the Chinese scooping up foreclosed homes in Southern California:

If our Chinese creditors don't find what they want on the foreclosure market, rumor has it the Feds will use imminent domain to seize private property on their behalf. According to Hal Turner:

The United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's continued purchase of US Treasury Notes and existing US Currency reserves!
On February 11, Bloomberg Business News reported that China was seeking "guarantees" for its US Government debt (Story Here), and it now appears they got it. Well placed senior sources at the US Embassy in Beijing CONFIRM the formal written agreement was delivered by Secretary of State Hillary Clinton during her recent trip to China.
This means that in the event the US Government defaults on its financial obligations to China, the Communist Government of China would be permitted to physically take — inside the USA — land, buildings, factories, perhaps even entire cities — to satisfy the financial obligations of the US government.
Put simply, the feds have actually mortgaged the physical land and property of all citizens and businesses in the United States. They have given to a foreign power, their Constitutional power to "take" all of our property, as actual collateral for continued Chinese funding of US deficit spending and the continued carrying of US national debt.

How else is the government going to borrow the $trillions needed for Chairman Zero's socialist spending spree? No serious person thinks that much can be raised through taxation, so collateral will be needed. Good thing his Secretary of State has experience pulling sneaky deals with the Chinese.

If it's true that Obama is literally mortgaging parts of the country to a hostile foreign power, he may end up having something in common with Lincoln after all — by presiding over a civil war.

On tips from Matt L and rrobin.