Donald Trump Doesn’t Know Hu Owns Who
Chinese President, Hu Jintao, the man in charge of nearly $1 trillion of US certificates of confiscation (Treasury Bonds) went to Washington D.C. to visit the man in charge of massive amounts of debt.
Taiwan's NMA.TV, which produces animated news, probably had the most accurate account of the tone of the meeting.
Donald Trump chimed in with some comments on this meeting which can best be described as completely out to lunch:
Donald Trump, despite being the son of a near billionaire real estate developer, has bankrupted his own companies, and nearly himself, numerous times. More than most people, Trump has benefited from the manipulation of the US dollar and its artificially low interest rates to go deeply into debt during every business cycle. Once the business cycle ends and rates rise, Trump usually ends up in bankruptcy – as he did in 1992 and 2004 and just recently again in 2009.
It is difficult to find anything that Donald Trump has ever been successful at, in fact. Other than somehow managing to get access to massive amounts of debt, often into the billions, by which to fund his projects.
But he has a TV show where he fires people now so he must be an authority on how to run a government (and, in fact, scarily, he is considering running for President).
On his call into “Fox and Friends” he lambastes the US Government for holding a state dinner for Hu. I agree with him on that but for very different reasons. I don't think the US Government nor any Government has the right to or should exist. But Trump says the reason the US shouldn't hold a dinner for Hu is because China is “the enemy”.
It apparently never occurred to Trump that the only way the US Government could even pay for this dinner is because the Chinese Government loans them the money. But, then again, Donald doesn't seem to really understand much about debt.
He actually tried not paying a $40 million loan to Deutschebank in 2008 claiming the financial crisis was “an act of God”!
The main reason he seems to consider China “the enemy” is because, as he states, “they are just totally manipulating their currency.”
Ever heard of Quantitative Easing, Don?
The days of fiat currency are thankfully soon coming to an end and people like Donald will have to survive in a world un-buoyed by inflation.
You're Fired, Donald.
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