China is the major holder of US debit, correct. I just recently heard

[ihelpu2see]

that China is now become the 2nd or 3rd largest consumer of Oil, for its growing industry...... This got me to thinking, did we invade the country (Iraq) with the 2nd largest N. Gas reserves and the worlds 3rd largest oil reserves so that we could sell Oil to China and thereby relieve some of the 100s of billions that we owe to China in US Notes???

or is that giving GW/Cheney and the bunch to much credit....???

[illflem]

1. China has long term contracts with Iran

for most of it's oil imports. Good thing for Iran, any attack by the US on them would be seen as an attack on China.

[vpigrad]

2. You're giving them too much credit...

repukes never think that far ahead. The only think about the next dollar they can steal.

[TexasChick]

3. No. I think PNAC was the reason we invaded Iraq. We owe China so much

because of the war, the deficit just keeps mounting because of it, not to mention the tax cuts. I honestly believe Chimp did not visualize this war correctly. I truly believe these neoCONS thought we were just going to go in there and kick Iraqi butt and that would be it. Plus, China has already made a deal with Iran for oil. Of course, I'm economic/government challenged, so I could be wrong on the "us owing China" thing. We could have owed them a lot more before the war, but I don't think it would have been as massive. IMHO.

[madrchsod]

4. china has signed deals with Canada

Cuba and Venezuela for oil and oil exploration rights

[ihelpu2see]

5. then how can cnbc and other business news outlets say

the average uptick in oil prices in 2004 was due to demand from China, if they have contracts with Iran, Canada, Venezuela etc....???

[NuttyFluffers]

7. they just are getting these contracts.

that and cnbc is good for business news in the vaguest sense of the term. remember this was the hotbed where analysts and ceos of the 'dot.com bubble' helped espouse their nonsense and inflate the situation to critical levels. take a grain, natch, a tablespoon of salt with the business gossip you get on cnbc. they are in the business of hype, and they still receive a handsome profit from the ingenues out there thinking they have their finger on the pulse of the game by watching them. be careful with them.

[charlie]

8. It wasn't entirely due to China

But her demand for oil has increased phenomenally in the past few years, making it a seller's market. The days that we could count on a maverick producer willing (and able) to undercut others by increasing production seem to be behind us.

[leesa]

11. Especially since we keep dropping bombs on these producers

and keep trying to overthrow their governments. Gets 'em riled.

[NuttyFluffers]

6. china is 2nd major holder, but...

japan is first with something like 700+ billion, china came in second around october at around 400+ billion, but then severely cut down its usa debt to 180 billion around november (they are trying to hit that number, should be done with unloading that by now). japan is not really interested in buying much more, and hasn't been since march 2004 (as some economists have been noting).

china is already diversifying its oil contracts by signing a deal with venezuela already and working terms with canada.

we, on the otherhand, decided to fully own a country with problems created by over a decade of economic sanctions, stirred up a hornets nest of insurgency, and already tied up with another war from before. we are pouring money into a sinkhole, haven't secured the oil to pump out necessary levels to pay for itself, let alone pre-gulf war 1 levels where we could leverage it to d something that you are thinking. essentially all went to shit.

but was this their thinking? oh yes, it was their thinking. but they were stupid and fell flat on their face and we are going to have to pay for the mess.

when japan gets tired of holding american debt and decides to sell off half of its holdings like china, run.

[Art_from_Ark]

10. Japan isn't in buying American debt right now

because their big exporters can live with the current exchange rate.

[leesa]

13. China hasn't survived all these years for nothing. They are being very

wise and they will conquer the US without a shot, most likely. Especially with the foolish, greedy Republicans in charge. They know nothing but instant dollar gratification

[Neshanic]

9. "Always the lowest price...Always"....Commie-Mart

Link Communism with Wal-Mart. It's the modern smart shopper thing to do!

[nascarblue]

12. The banned in the US documentaries on the oil situation

If you guys want the facts, I suggest these two videos that Bush doesn't want you to see.

http://911busters.com/video/IQ1_20_END_OF_SUBURBIA_VIDEO_24.2_.html


http://www.democracynow.org/article.pl?sid=04/10/22/143233&mode=thread&tid=25