Tuesday, February 15, 2011

Respecting America

Donald Trump has said that part of his presidential platform will be to ensure that other countries show the US more repect.

You only have to read the comments in "Doonesbury" on Trump to gather that Trump himself is not always respected, particularly in America. But it is a dangerous part of his platform. Seriously, how would you get other countries to "respect" America more ? Certainly not by killing them. You could get hatred or war that way, but not "respect". We do not live in the stone ages after all, and US power is hardly convincing even to the Taliban.

IMO: If America could pay its debts, that might give it more respect... Lets see the figures. The US owes Canada $3.6 billion, Hong Kong $138.9 billion, the Cayman Islands' banking centers $146.3 billion, Brazil is owed $184.4 billion, OPEC $210.4 billion, the insurance industry $261.8 billion, domestic commercial banks and credit unions $269.8 billion, UK and state and local governments $511.8 billion, mutual funds $637.7 billion and pension funds $706.4 billion. Then the figures really start rising. Japan is owed $877.2 billion, and China $895.6 billion.

OK you may say, lets declare war on Japan and China, that'll make 'em show some respect. But the US would probably lose, not a pleasant prospect for Trump I would say - in fact very, very unpleasant. After all, but for the Jewish scientists and their nuclear bombs the US would have lost against just a weak Japan, last time.

But that is not the end. Even now, there is light at the end of the tunnel. Who are the really big creditors. I'm sure Trump could pay them off as they are U.S. Savings Bonds, and a category CNBC calls "other investors", at $1.458 trillion, plus the United States Federal Reserve Bank, which has the US on the hook for a staggering $5.351 trillion. So if the dollar is deflated by somewhat more than the Deutschmark was in the 1930s, Trump could pay those debts off out of his own pocket, perhaps in Swiss francs. The other countries might still want hard cash, though, for full  respect.

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