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mises
Joined: 05 Nov 2007
Location: retired
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 Posted: Fri Jan 29, 2010 1:42 pm Post subject: Russia attempted economic warfare against the US |
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http://www.ft.com/cms/s/0/ffd950c4-0d0a-11df-a2dc-00144feabdc0.html
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Russia proposed to China that the two nations should sell Fannie Mae and Freddie Mac bonds in 2008 to force the US government to bail out the giant mortgage-finance companies, former US Treasury secretary Hank Paulson has claimed.
Mr Paulson said that he was told about the Russian plan when he was in Beijing for the Olympics in August 2008. Russia had gone to war with Georgia, a US ally, on August 8.
�Russian officials had made a top-level approach to the Chinese, suggesting that together they might sell big chunks of their GSE holdings to force the US to use its emergency authorities to prop up these companies,� he said.
Fannie and Freddie are known as GSEs or government sponsored enterprises.
�The Chinese had declined to go along with the disruptive scheme, but the report was deeply troubling,� he said. A senior Russian official told the Financial Times that he could not comment on the allegation.
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When you're the neighborhood addict and into everyone for billions you put yourself at risk for nefarious schemes from foreigners.
The Chinese saved Uncle Sam's arse on this.
http://www.businessinsider.com/russia-asked-china-to-dump-fannie-bonds-in-bid-to-collapse-the-us-financial-system-2010-1
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Allegedly, it appears Russia may have tried to conspire with China in a bid to collapse the U.S. financial system. They were hoping to sell Fannie and Freddie bonds during a time when the U.S. economy was on the ropes.
This happened back around the Beijing Olympics, when the U.S. was supporting Georgia against Russia in the conflict over Ossetia: |
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Reggie
Joined: 21 Sep 2009
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| Posted: Fri Jan 29, 2010 2:31 pm Post subject: |
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| Considering how much schadenfreude we showed over Russia's economic problems in the 80s and 90s, you just know they would love to ram it up in us. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Jan 29, 2010 2:37 pm Post subject: |
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Yeah. I imagine they'd get a kick out of it.
This recent antiwar radio interview with The Exile's Mark Ames goes into the catastrophe that was American economic intervention in post-Soviet Russia:
http://antiwar.com/radio/2010/01/27/mark-ames-4/ |
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Fox
Joined: 04 Mar 2009
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| Posted: Fri Jan 29, 2010 7:27 pm Post subject: |
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| Just another example regarding how important sound fiscal policy is. Being a debtor nation is just making yourself vulnerable. |
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Reggie
Joined: 21 Sep 2009
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| Posted: Sat Jan 30, 2010 11:23 am Post subject: |
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| Selling weapons to Taiwan might come back to haunt the US officials operating our Ponzi scheme economy. |
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