US$ Hegemony

Kiji: One of the things handicapped China is the 900+ billion US$ reserve held in US Treasury. If a war broke out, US could do to China what US have done to Russia, confiscated all US Treasury. US and her vassal states will probably confiscate Chinese owned assets in US & EU, that could including all Chinese Americans. My wealthy clients are divesting their liquid assets outside the reach by US & her vassal state’s financial system! I still have friends, alumni and relatives arguing with me. I told them it is their money. If they are stupid enough doing nothing, sorry too bad, don’t cry over spilled milk.

China has another 2 trillions in reserve in other countries currencies, but those countries are US’s vassal states. So they could also confiscate China held foreign currencies.

We are talking about 3 trillion!

China of course has counter measures such as confiscate all foreign owned assets in China, but combining not worst 3 trillion!

Therefore China while finding ways, no easy way to minimize the risk, the first action is dumping US$. It is a gauge of war, if the dumping of US$ continues, war could be imminent.

But it is not easy to dump 900 billion of US Treasury. It took Russia years to do that since 2014. Russia failed to understand shifting US$ holdings to Euro not safe either as we now understand from the US proxy war against Russia in Ukraine, Russia assets are also seized by EU.

What is next China could do besides dumping US$ is buying Gold. But like I said how are you going to buy 3 trillions worth of gold, not easy either!

I am sure China is burning midnight oil trying to find solutions!

Ukraine war is such a valuable lesson for China and smart Chinese around the world! American cannot be trusted! But US not getting free lunch either, now the entire world start dumping US$. US$ is not backed by gold, based on trust only. Long term US$ is finished using it to blackmail and extortion those days are coming to an end soon, probably next 15-20 years, and it could be much much sooner!

From Professor John Walsh MD in SF: I added this at the end to make it more relevant to Asia Times.

“ This US coalition holds great significance for East Asia. The US proxy war, using Ukrainians as cannon fodder to weaken and break up Russia, is the prelude to an assault on China, with Taiwanese as cannon fodder.

“In the former case, the states of Europe are necessary US instruments, since the US cannot take on Russia in Europe unless it has allies beyond Ukraine. Such allies, most notably Germany, have proved unable to stand up to the US, and so they act against their own interests, economically and geopolitically, in moving against Russia.

“The same can be said of US vassal entities in East Asia, notably Taiwan and Japan, as Washington pushes them to sacrifice themselves for the sake of US aggression against China.

“Perhaps the appearance of this new broad-based force for peace in the US will give some hope to the hapless US vassals, East and West, to stand up to the US Empire and look to their own best interests rather than sacrificing blood and treasure for a master on the other side of an ocean.

“The world faces too many problems and we are too close to nuclear war in Europe and East Asia to continue wasting resources and lives in the continued US drive for global hegemony.”

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