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My Way

Conquering us with debt

November 25, 2009 - Prior to leaving for deer camp, I wrote an article in the Nov. 18 edition about Republican Congressman Mike Rogers' visit to the Bear Paw Cafe in Lakeville.

The majority of the spirited discussion was focused on the socialist health care bill recently approved by the Democratic-controlled House.

However, Rogers also said a few words about this country's debt to foreign nations that I thought were relevant given our current love affair with all things Chinese and our push for students to learn that language and culture.

Personally, I believe China is an enemy politically, economically, militarily and morally.

To embrace this dangerous nation and its totalitarian government is to embrace Evil itself.

That being said, one of things that most concerns me is how much of our national debt is owned by China (approximately $800 billion) and how it will use this to control and manipulate the land of the free.

"If we don't think foreign nations will use holding a debt to implement their policy, we are fooling ourselves," Rogers told the crowd at the Bear Paw Cafe.

The congressman then plucked a page from the history books and gave a perfect example of one nation using debt to control another nation's actions.

During the Suez Crisis of 1956-57, the United States wrongfully put financial pressure on Great Britain to end its military campaign against Egypt, following the Middle Eastern nation's decision to seize and nationalize the Suez Canal.

President Dwight D. Eisenhower ordered his treasury secretary to prepare to sell part of America's Sterling Bond holdings, which the U.S. held in part to aid postwar Britain's economy and as partial payment of the island nation's enormous World War II debt.

If the U.S. had sold this debt, the resulting devaluation of the British pound would have meant that within weeks, the island nation would have been unable to import the food and energy supplies needed to sustain its population.

In the face of Ike's bullying, Britain announced a cease-fire, withdrew its troops and Egypt got to keep the canal that it basically stole.

"We have put China in the same position to do that to us," Rogers said.

The congressman noted that when Secretary of State Hillary Clinton visited China earlier this year, she never uttered a word about that nation's contemptible human rights record.

"We've never, ever had anyone go to China without kicking them on human rights," Rogers said. "This is the first time we haven't done it. Why? Because we owe them so much money."

While our corporations are scrambling to do more and more business with China and our students are cramming their brains with Mandarin characters, the gang in Beijing is methodically positioning itself to become our masters.

At least our children and grandchildren will be able to understand the Chinese when they start barking orders.

CJ Carnacchio is editor for The Oxford Leader. He lives in the Village of Oxford with his wife Connie and daughter Larissa. When he's not busy working on the newspaper, he enjoys cigars/pipes, Martinis/Scotch, hunting and fishing.
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