China UPSET with US Dollar Devaluation Congressman Burton

[AntiYouist]

This guy is standing on the floor of congress just making shit up, Carter appoint in Paul Adolph Volcker, Jr. August 1979 who is credited by lowering inflation> Also Not to mention, economic decisions of the GOP past 30 years, lead by Reagan himself. Not only did he not save it, Reagans doctrine has a direct relation on the decline of the US & eventually lead to where we are today.

[touber2011]

So your donation to Ronpaul2012(.)com is now worth much less...but, the cause and need for it is even greater!! He's pushing for the end of quarter....no donation is too small :) I gave $15; I think he's up to around 275,000 and he needs 1.5 million by Sept. 30! GO RON GO!!...and yes, I did call my congressman and told him to support HR 1207; and he did!

[stanley1us]

If we did Everything Rep.Burton suggest even 4 years ago do you think everything would be O'K now ? (NOT) See the Movie "INSIDE JOB" !!!!!!

[XxXAngelOfPainXxX]

China & India are becoming superpowers as the west collapses, we need to rely on them for trade and business. It's a changing world, the british empire collapsed and now the usa, I think it will become a multi-polar world soon.

[dusumpn]

ha native americans live off the land so good luck to u city living floks!

[OHT53]

The reference to supply and demand is inaccurate that's self explanatory so I won't go there. If an economy were a pie of fixed size if the currency were doubled then the amount of pie that could be purchased with the amount (X) would be halved hence inflation. The countries that own American debt are upset because the value of their holdings is reduced. Concerns about the dollar collapsing are unfounded worse case scenario would be to sell the farm that is government assets.

[OHT53]

The reference to supply and demand is inaccurate that's self explanatory so I won't go there. If an economy were a pie of fixed size if the currency were doubled then the amount of pie that could be purchased with the amount (X) would be halved hence inflation. The countries that own American debt are upset because the value of their holdings is reduced. Concerns about the dollar colapsing

[xoxohil]

Even though I'm not from America, I do feel the grave situation. Maybe I'm pretty biased leaning to Glenn Back's video on the US inflation economy situation. I really do agree with him and hope anybody can fill up answers how US can actually get out of this unscathed.

[dcj991]

January 20th 2011, 7:00 am est time. hmmm lets put on good morning america. " china may no longer take the u.s dollar and start to take in diffrent methods of money'. me: well no more goods for us, were screwed. well i geuse those people who said china would always take our dollar can go smack themselves.

[SexyMelon]

"All problems, depressions, wars, disasters, assassinations, all of them were planned, caused, instigated, and implemented by the International Bankers and their attempt to establish a central bank in every country in the world, which they have now done, thanks to corrupt politicians who have been bought and paid for. This is all you need to know about the history of the world." - John Fitzgerald Kennedy

[KobeSpawn]

Get ready for increased taxes. The weaker the dollar, the more the taxes will be to pay off that 12 trillion dollar debt. All of this is intentional. The government is not worried about the dollar value decreasing because its in their favor when paying off that massive debt

[hobieslug45]

first of all china is buying gold and so is india to protect them self's against our dollar this guys full of it when he says they don't have a choice ,they have to buy dollars . second he puts down paul volker for making the hard corrections that our economy needed and that reagan reaped the rewards of our suffering .

now no presedent wants to do the right thing anymore. they know that the people want the quick fix ,the easy way out. of course it's not going to work . Eisenhower had it right

[lagrangewei]

@hobieslug45 yes china is buying gold but it is under "special arrangement" and not on the open market to prevent gold speculation. the fact is there isn't a couple of trillion dollar worth of gold in the market! so this means, china can only transfer part of their reserve into commodity (gold is not the only thing they buy).

-

US is likely to be able to borrow for another decade, the issue is what is this going to cost US children when they start paying off the debt.

[hobieslug45]

@lagrangewei you could be right about another decade, still seems very scary even going into the next decade .

and don't worry about our children we're still under the no child left be hide rules so if every child is left behind that would actually translate into no child left behind

[BeadStallcup]

Devaluation of the working man's dollar is the root of the economic problem!! Our stinking Congress/FED continually prints up more and more of the stuff ( they never stop) and each time they do, all US currency in circulation loses value. It doesn't hurt them because they just print up more, but each time gov't prints up more it destroys a little more of the purchasing power of the working man's dollar at the grocery store, the gas pump, etc. It is a subtle and vicious way to rob the people.

[jamesgambino]

Why do computers get cheaper as time goes by?  Or TV's? Its bc the govt is not involved in the industry.

[jamesgambino]

AMEN......and yeah lets get govt healthcare... hahaha That oughta work. Entrust dumb politicians in the business of health care. Let politicians be politicians.

[EricTheRed03]

What a great presentation!

[PhuqueU]

I've worked for 30 years.

In that time I could have built 30 of the houses I live in, and fed myself.

I don't even own one house, instead I owe some mysterious deficit to the 3rd generation.

I'm asking why, Jew. It's your system, it's you killing people who try to change it.

so I'm asking you, why, after working 30 years do I own nothing, and owe other nations? Answer me Jew.

[311ftw]

tell that to the chinese staff who have are buying up cali real estate.

[PhuqueU]

China has no business owning any of our debt even if that phucking JEW trash Rothchild illegally sold the USA to China, China can just get their money back from that piece of fraudral reserve dog shit!

Get the word out to Chinese people that Rothchild is ripping them off, not the US citizens. Do it or wish you had.

[cowboybill117]

AVIOMASTER Where did you get 10,000 dead?Geeze,do some research.

[louielamson2000]

Wake up America!!! The American people need to wake up!!!There will be many consequences for your childrens lives for years to come. Who are you blaming???

8-2009

[elwind45]

Reagan was actually 1-7 about the tax cuts. This idea that Reagan was a great President is complete nonsense! If you are the rich 1% he was brilliant, for the rest he started the idea that you could spend and not pay for it! he raised taxes 7 times on everybody but his rich buds.

[hobieslug45]

@elwind45

raganomics the trickle down affect was GREAT if you don't mine the taste of piss

[charlie8575]

Our money is losing value, yet foreign nations continue to buy it. And at the rate we're going, it probably won't rebound, at least anytime soon.

Stupid, irresponsible fools! The U.S. and every one of our foreign debt holders are almost guaranteed to cause a global depression, combined with hyperinflation, unemployment, and everything. I don't always agree with Rep. Burton, but I think he may be on to something here. Why will no one listen to him, at least on this, Rep., Dem. or independent?

[ngonea]

charlie8575 - bo one listens b.c we have "One Snake" with two heads in DC, and they are in bed wirh Fed, lining thier pockest, we have no money only dent since FDR put the US into Bankrputcy, they have just been lying to us all our lives.google: "Stucture Of The Birth Certificate: and "How A Prisoner Funds America"

James Trafficant warned us yrs ago

[clutch1245]

The sad thing is that they didn't listen to this guy.

[aviomaster]

-- 10.000 USA soldiers died , cause of BUSH lies , he is worse than Bin Laden ...

[Tasadaru]

If I'm not mistaken Reagen did cut taxes but he did not cut spending to the same degree. I believe he tripled the national debt to almost 1 trillion dollars. New amendments to the Constitution of the United States:

1. There will be no central bank of any kind.

2. There shall not be fractional reserve banking.

3. Only precious metals can be legal tender.

4. No permanent military alliances.

5. No military bases outside of the U.S. during time of peace.

[thomasst2]

That is correct. He lowered Federal taxes, but he increased Social Security taxes by a greater margin.

Also to "soften" the blow from the S&L fall out and "stimulate" the economy, Volker/Greenspan and the banks increased the money supply 3 fold, which put Americans in higher tax brackets. No one noticed the inflation because Greenspan changed CPI calculation methods (also under Clinton and Bush)

"Reaganomics" was a Fed induced boom that resulted was the inevitable 1987 Stock Market crash.

[Tasadaru]

So much for being a "conservative."

[hobieslug45]

@Tasadaru

right about reagan facts or numbers don't lie

dead right on amendments

[slave7]

It blows my mind that this video only has 11 thousand views. It should have 250,000,000 because every American should watch it.

[Tanarus20]

It blows me away that people are wise to who the real crooks are.."The Federal Reserve"

If it comes to Riots...Pull out of the EU & Dump the Feds as our monetary system!

[inkey2]

I truly think...that at this point....there is no way out. We have passed a point of no return. In order to get out of this mess the USA will have to make some hard choices....and none of them will be pleasant. It will take a minimum of 30 to 50 years for this country to even strat digging out of this mess

[danpt2000]

I doubt that the Chinese Premier actually said "We hate you guys". These congressmen might as well hold these hearings in a kitchen.

[inkey2]

to danpt2000: yeh, i agree with you....I doubt they said "I hate you guys"...most likely a bad translation of what they actually said.

[shootthedevil]

Here is one advice, STOP GOING TO WARS.

[thablackmarkit]

But... But... The Uranium.

[DillonX]

China is basically saying - We don't like the fact that the USD will likely be devalued more than we'd like over the next few years, but:

what can we do?

Almost all transactions in the world are done in USDs, Sterling, Yen, or Euro & the best bet is still the USDs.

China is also the world's leading producer of Gold but has indicated that as long as Americans are willing to give them 900 USDs for an ounce they'll produce & sell as much as they can while that high price lasts.

[RAGSTAluvsDA90z]

your not him because you dont act like him but your related to him everyones a fvkin celebrity in amerika ther all a bunch of actors who get trained up how to smile at work. fvk u if u fake your smile

[RAGSTAluvsDA90z]

Hyper inflation...wher money bekums nothin and explodes

[RAGSTAluvsDA90z]

ha its happening for the fall of amerika when amerika goes down the U.N. is going down wit it ..when the paper money goes down and stops electronic money will be used by israel they will be the only rulers after

[antonKASA2007]

future generations will die in camps or they will work to build a new civilization and system because the old one have died and is as dead man in the grave

[antonKASA2007]

enemies of america who run it did destroy america's dollar,so that is what they wanted, and americans dont run their country which is run by their enemies

[kggoh]

just consider China the world largest US dollar reserve annouce the world, she will no longer has confidence in US currency and will dump out all the US dollar from now on. Yes, China will lose alot, but i m sure not all her reserve, maybe 60% i guess. What do u think other nation will do like Japan? Hold? Buy more? lol. This is like sending nuclear warhead to USA, lol, i really want to c how will this goes. If China does this, US dollar is doomed, so as USA.

[kggoh]

China called for new reserve currency, lol, this clearly shown USA just print more money to save itself from the crisis without informing China abt her intention in the first place has really pissed China off. Consider this, China has the highest US dollar reserve in the world, what does she got in return if US dollar collapse, her reverse will become worthless, and yet, China call for this change, i think China has reached the boiling pt, we will c what will happen. lol.

[mmclain68]

Great conversation points here on this thread. Lets keep the focus on the global bankers and our representatives that are responsible for this.

[SilverRose09]

So we all know that the reason that the economic is sick it because of the toxic assets The as doctor in economic should know that the fastest you get rid of the problem the better goes as to leave it and drain you to dead!  Two years of pain is better than Japans quantitative easing 13 years of pain. Please raise interest rates and let bad companies go out of businessthat will clean the system

[stargate669]

Rose you say it's better but analyse what happened with Japan. First, they had that major collapse through over valuing which is happening to you now. Secondly, which country in the world has a trade surplus? yes. exactly Japan. The only path being used to stimulate your economy is issuing of money so spending occurs or taxation. These are ever decreasing circles limiting your options second by second.

[stargate669]

hardly rose. The Fed tax money is collected by the IRS. The IRS don't invest in Asia!!! They have off shore bank accounts why else do you think the IRS hasn't a base in America? You can pump in all the dollars you want but it's just paper not based on anything certainly not oil or gold. What do you have to back it up? Every time a dollar is produced Americans get taxed. Already 7 months of the year the average american works to pay off tax!

[SilverRose09]

stargate,

But if you see the big picture, when Fed prints money for americans to consume and buy more junk, it helps Asia to produce more, as we were the number one clients, as we were a very rich Country, as the dollar today can buy any gold and oil at bargain. Maybe a pice of paper but look China how is buying all commodities with that paper.

[kggoh]

u r wrong, US dollar has the value becoz ppl around the world has confidence in US economy, and do not take this for granted that ppl will maintain their believe on the US dollar. So u think your country is very rich? If very rich, u dont need to print more money to bill out those banks which near collapse, if u r rich, your president doesnt even need to response when China call for new reserve currency, do u know y Obama resp so fast, becoz he knew if US lost that status, it will be doomed.

[gummyworms80]

sorry dude, all the bail out money is required to buy american goods only. Very little will make it to Asia.

[guitarpikz]

the people behind the scene, are plan this all out.....dump all these money,....will lead to hyperinflation...

[stargate669]

Well, ask yourself the question. Who has the largest dollar pool? Who is the leading economy now with a trade surplus? Hilary clinton was negotiating with the Chinese but you are told the story she requested they buy something which is worth nothing in return for nothing. Do you really believe that? Something is happening now you're not being told.

[TimFix]

At least Dan Burton is a co-sponsor of Ron Paul's bill HR 1207 to audit the Federal Reserve. People, call your local congressman and tell them to co-sponsor it as well. AMEN BROTHER WELL SAID ___THIS IS INSANITY. DO NOT FORGET THE BANKS MADE BIG MONEY DURRING THE DEPRESSION. THE RICH ONES IN THE KNOW ARE GOING TO BUY UP STOCKS AND REAL ESTATE FOR PENNIES TO THE DOLLAR --IN APROX 3-5 yrs, mark my word. THE FED IS A PLAYER IN THIS ORGISTRATED SCHEME. THE COMMON WORKER IS FOREVER A SLAVE!

[stargate669]

totally Tim well said. No money is lost during a depression! It's just transferred. During your great depression bankers basically bought things on the cheap. Now, what you see is erosion of the middle class and everyting they earnt and saved since the war. Banks, corps, state, military and security and media work together for a true fascist country which America has become.

[spiritsA]

"Obama's plan will double the U.S. debt to over $23 trillion in eight years"

Are you calculating this based on the fact that 1 trillion = 10 trillion circulating money?

[Rsirchie]

THE IRS IS A FRAUD ..... GOVERNEMENT = to GOVERN the MENTA (mind)

POLY = Many TICKS = Blood suckers

ITS ALL A SCAM .....

The Cells in your body don't need a government .... they do what they do because they love you. Humanity must wake up .....

[Tien1185]

U.S is now in debt!!!! we owe 11,000,000,000,000 in debt!!!

[strawberrylaralara]

This guy knows what he is talking about!!!!!!!! Will the American congress listen??? Are the American people listening??????/

[PlayingGuitarRules]

oh America is listening alright..but here is the thing....our government doesn't give a shit what its citizens think...we need to get our country under control.....but how...thats the real question..if you riot they shoot you...

[RawMeatRocks]

"Exactly what is the US intending to spend their 2 trillions on? Two trillion is what..? $2,000,000,000,000 ?? "

Look deeper into it. Obama's plan will double the U.S. debt to over $23 trillion in eight years. What will they spend it on? Same old shit: air. Nothing but american words, which are meaningless, and have been proven so for decades.

[RawMeatRocks]

"fuck the Chinese government "

No, fuck yours. It's the dumber one.

[TimFix]

At least Dan Burton is a co-sponsor of Ron Paul's bill HR 1207 to audit the Federal Reserve. People, call your local congressman and tell them to co-sponsor it as well. AMEN BROTHER WELL SAID ___THIS IS INSANITY. DO NOT FORGET THE BANKS MADE BIG MONEY DURRING THE DEPRESSION. THE RICH ONES IN THE KNOW ARE GOING TO BUY UP STOCKS AND REAL ESTATE FOR PENNIES TO THE DOLLAR --IN APROX 3-5 yrs, mark my word. THE FED IS A PLAYER IN THIS ORGISTRATED SCHEME. THE COMMON WORKER IS FOREVER A SLAVE!

[tdobrov]

You are correct. This is orchestrated by the super rich that run the FED RESERVE. Their names are secret and are not available to anyone...if you think this is not true look it up. So that makes it a CONSPIRACY, a real one. No shit. Just think if there is anything left in your brain. Secret.? WTF!!

[raguv2000]

fuck the Chinese government

[kamaldaphul]

that's kinda hard to do.....They are the richest nation + most powerful. Why do you think U.S is not spreading its democracy b.s to China....cause China owns them.....

[PlayingGuitarRules]

if china owns america....guess who owns YOU...you all look to america for shit..it isn't "america" it is government...ALL.governments.. yours as well...

[kamaldaphul]

we don't need your government. Ours is enough. We just need consumption hungry american population to keep buying energy from us.....which we all know americans can not live without...

[PlayingGuitarRules]

i didn't mean america..canada is not its own country it is own by britain...and i didn't mean it as a insult..but you feel you have to insult america...america is not all the tv shit you watch...every person I know is a hard working honest repectful person..its funny how everyone talks shit about america...because you are jealous of our country...canada is a awesome country..to bad it is filled with people who couldn't say anice thing about someone else if you paid them...

[kamaldaphul]

We aren't owned by britain, we are a former british colony. Yes, the Queen is our head of state, as much as she is of Britain. Otherwise it is a independent nation with its own consititution, currency and defense. I never said U.S wasn't hard working, I just said that they are consumption hungry more so than other countries.

[PlayingGuitarRules]

i hear what your saying..and i will say this..there are alot of people who livein america who are oblivious to the way the world really is..and it is sad..unfortunatley it is just the regular people here..who are just like you and some nice respectful person anywhere...what can we do?..i apologise if you took my comment wrong..and know this..most of us over are thinking the same shit about our own country that others do as well..its just the way the world is these days...

[kamaldaphul]

man, we just think what your media potrays of your country. One of the first people that isn't totally clueless about America's potrayal. I know not all americans are alike and some know of the situation they are surrounded by. But your media just seem to be serving the other proportion and that's why there is such a narrow vision of Americans around the world. But i hope the world gets out of this mess soon without harm to anyone....

[PlayingGuitarRules]

yeah..most definitley....shit is getting crazy...alot of people live in a fantasy world here...television in a way is Americas silent dictator...if I have to fight I will..do I want that?..of course not...but my family and close friends..I would give my life in a heart beat,if it came to that....the next decade is going to be a real wake up for alot of plastic americans..we will see what happens...

[H0VEN]

He is right on, but one of the problems now as opposed to the Reagan era is the fact that the US outsources so much of its manufacturing to countries with cheap labor and poor environmental laws. We need to produce goods!

[spiritsA]

Exactly what is the US intending to spend their 2 trillions on? Two trillion is what..? $2,000,000,000,000 ??

[CarryANation]

Uh, does he realize the dollar is doing better right now than it did under the majority of Bush's presidency?

[InfiniteZr0]

Well I guess it's somewhat assuring that China wants to work with us and no against us.

[jortizz]

At least Dan Burton is a co-sponsor of Ron Paul's bill HR 1207 to audit the Federal Reserve. People, call your local congressman and tell them to co-sponsor it as well.

[bbnemesis123]

We gave these A-holes all this bail-out money. What did the banks/financial co. do with the money? They sent the money to over-sea banks. The over-sea banks are holding the money on purpose. International banks WANT the dollar to collapse, so the U.S is FORCED into a world currency. America is being DUPED by international bankers. World currency then World govt....that would the U.S.A as WE KNOW IT. DON'T LET THESE CROOKS TAKE AMERICA DAMN IT!!!!!

[ZABERNISMer]

Its kinda weird,,

China blacklisted YouTube yesterday for all its citizens,,

and,not a SINGLE video on it here on YT..

Isnt that almost 1/4 of the worlds population in China?

[kkklownknight6699]

Sites usually get blocked all the time.

It's nothing new. They're usually temporary and get lifted after a few weeks or days.

[guslingus]

Isn't that the plan. Reduce the national debt by inflation..?

[thereallurker]

I wish Dan Burton's party, the Republicans, wouldn't have gotten us into this mess by their record deficit spending. I wish Dan Burton would have been talking about this when his party didn't regulate the housing industry, passed the biggest entitlement increase in history, cut taxes for the super rich and gave out hand outs to war profiteers for the Republican's trumped up war in Iraq.

[Mokurentate]

Lol. Did someone say "Fu-" at the beginning? XD

[snowtrot]

Haha, I didn't catch that until you mentioned it.

[DoctorClarity]

Date of speech is Feb 12, 2009

[400oakley20]

Thomas Jefferson quote

'I believe that banking institutions are�more dangerous to our liberties�than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered"

[guslingus]

Good work 400oakley20

These quotes should be on ever front page in the Country

[400oakley20]

Thomas Jefferson quotes

"My reading of history convinces me that most bad government results from too much government"

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them"

[Equalpower]

My advice is follow your heart, and listen to what spirits have told. Mediums and shamans hold a lot of info and experience, and actually a contact with the other world, our other homeworld... : ]

Religion is power sick, therefore make and take your own decisions. But if you seek out a few renowned mediums or so, you might get a shock. Even if you are a skeptic. I have got this proved personally to me a lot of times [with very private matters].

Peace, light and fun to you

[Equalpower]

Some of my claims are suspicious, but one never shall trust any [secret] government again. There are powers to great to be fully understood.

And then you have the rising sea levels.. That is bound to cause real trouble, with probably millions of weather fugitives in the future.

The pandemic threat is not to be neglected either. The spanish flu killed perhaps 50 - 70 millions, why can't it happen [controlled] again? People travel a lot more too... The elite fails us, hates us. POWER is You.

[Equalpower]

Good to see so many more views than there was earlier today. Project Camelot takes credit for that : ]

Peace shall always be our [or my] goal, but taking precautions don't harm us or what?

I'm not an american citizen, but I'm "fastening my seatbelt" a little more than ordinary people ever have done, because I think we could have extraordinary times ahead. So much collides! The [death of the] dollar problem, increased weather hazards, extreme sun storms [scientists say 2012 tops it], war, NWO ++?

[atsdeck]

The congressman's observations are correct, but he belabors the point. The facts of our situation have been established.

Some believe China may decide enough is enough and go to war with the U.S.

Some (the poster of this video's message) believe elements within (or behind) the U.S. government wants to attack China.

The wheels have been set in motion. There's no point in stressing about a fait accompli; unless you can alter events.

Otherwise, make your peace and get on with your life.

[bigredtrucker]

imagine all the jobs if trade with china stopped.

you'd have a hard time finding a dollar store, but the landfills would stop gettin so full.

[7lolol4]

government scumbags are looking for some pretext to start war with China!!

This is a way ahead planed agenda ppl...fasten your seatbelts!

[shootthedevil]

I actually here people say default. That is why they are so bend on toppling China CCP, since it will allow them to lower the Debt and snap up state-enterprise on the cheap, the fall of the Soviet Union, which put Russians back decades.

[bill7907]

Yes all true stuff.

People should start accusing the governments publicly.

They can't all deny it.

[precisioncomfort]

Anyone know the date of this video?

[freelywheely]

12 February 2009

[quicktripgas]

Jan 6th 2009. You know its old because china said today that they are done buying our debt. That is why the Fed started buying US treasuries because no one else wants them.

[FredFoothand]

February 12th to be exact

[teebs70]

Less than a thousand views about the most destructive theft ever devised - the Federal Reserve, the mafia extraordinaire, the invisible hand of doom that never sleeps.

No worries Britney Spears has gather over 70 million views being a exhibited as fully packaged 'Womanizer'.

McSheeple shall be led fat, sick and wonderfully entertained to their very own slaughter.

[SiriosIX]

More talk and no doing. Madame Speaker go back to sleep and everyone else as well. Everyone has been bought off and that's about it. Only the people can stop the NWO from being fully implemented because its obvious that the shits on Capitol Hill are all in on it.