Which US president started borrowing from China?
That’s not how this works.When the US Government needs more money, the Treasury Department holds an auction. The more demand, the lower the interest rate. In addition, there is an active public market for government securities. They are actively traded between holders of bonds.Anyone can buy them. Mutual funds buy them. Banks can buy them. Countries can buy them. You can buy them. Buying them doesn’t give China any leverage over the government. They can’t call the bonds early or anything.http://ticdata.treasury.gov/Publ...No US President “started” borrowing from China. China decided to get involved and there isn’t really an easy mechanism (nor a reason frankly) to stop them.China became the largest foreign holder of US Debt in September 2008.They have been a major holder of US debt since at least 2000. However, at the time, Japan was the largest by far. China was just the leader of a fairly tight pack.
Why does the United States owe billions to China?
The other answers are excellent. But they are too financial and too mechanical. Our smiling Chinese bankers have an additional reason to lend trillions…China is executing its long-term strategic plan. The U.S. does not have a plan.When Vladimir Putin approached the Chinese to help him crash the U.S. dollar, the Chinese replied: Not yet. Not part of the Plan.China has been the world’s biggest economy for all but 500 years of recorded history.From 5000 BC to 2000 BC, China boomed. While people starved most places in the world, the Chinese ate well. By the Shang Dynasty in 2000 BC, the size of the average Chinese dwelling had increased 10x.In that same era, the Egyptians of the 6th Dynasty were constantly at war. The Etruscans and Romans were not yet a society. Early Romans were still living in mud huts while the Chinese built large cities.Today China still plans ahead — decades ahead. The groundwork for current events was laid 35 years ago.The Chinese in 2016 are proceeding not by accident, but by strategic design. They continue to methodically execute their Plan. Every society has an enduring culture.The British are polite. The French are cultured. The Chinese are patient.This will not end well for America. Exponential debt has never ended well in all human history. That is a 100% failure rate over 7,000 years.Every day, our compound interest gets worse. Month after month. Year after year. There is no happy ending in store. The cavalry is not riding to the rescue.Not for us. Not for any debt-laden society.On our current course, the best we can hope for is a rocking chair with great memories of the past. If this happens, we Americans deserve the blame. Not the Chinese.Wake up, Americans!We can still fix this. Now is the time.
Why isn't there one single world wide currency?
Because there are different countries with different economic systems (capitalism, socialism, communism or any combination of these three), with different political systems (democracy, autocracy, authoritarianism, theocracy or any hybrid thereof) but most importantly, with different self-interests. Unless of course, two or more countries agree to unify their respective economies and one very good example is what happened to most of Western Europe through the European Union by introducing its own unified currency called 'euro'. If you look deeper among its members, you'll find the commonality that all have a democratic form of government with an economic system that is basically and fundamentally capitalistic.
My boyfriend offered to lend me money, but I m worried it will affect our relationship?
I work full time for a non profit company and they recently cut our hours due to lack of funding. I live alone in a one bedroom apartment and have always paid my bills with no help from anyone however the last couple months with much smaller checks have wiped out my savings and now left me struggling. I tried for weeks to find a second job for overnight/ weekends or anything at all and finally got hired but I need money to get a special certification and things for my uniform. I am also cutting it close for affording my bills this month and I need dental work and minor car maintenance done that I ve been putting off for the past few months that my hours were cut. My boyfriend works full time and lives with his parents so he doesn t have very many bills and thousands saved up. He offered to GIVE me money at first and I refused. He then offered to loan me $500 and I said no that was too much money, but now he s insisting on lending me at least $200 to cover what I need for my new job and work I need done. I don t want to borrow it but I do need the money and my parents are not in a situation to lend it as my dad recently had surgery and has been on disability. Should I borrow the money he is offering? We have been together almost two years and intend on getting married sometime in the future but I feel as though money can ruin relationships. He is insisting to the point he feels offended that I would rather struggle than take his help..