Editor’s note: Although the original article is from 2009, recent developments of possible relevance have surfaced and appear below.
by William Dupray
The time for partisan bickering just ended. This is as serious as a heart attack. Obama is going to spend so much money, which he intends to get from China via the sale of government backed bonds, that the Chinese apparently don’t think he’ll be able to make good on them.
So President Obama gave the Chinese eminent domain rights to American land and businesses as collateral – i.e. we don’t pay, they now own America.
From Patriot Room
Because it looks like our wonderful new administration is granting the Chinese eminent domain as collateral for US debts. Yea you read that right. That means when we can no longer pay for all this massive spending the Chinese can call in the loans and take our land.
The thought that American citizens and businesses could lose their land as a means of payment is downright scary. I highly doubt ANY American citizen would have voted for Obama if they knew this was coming down the pike.
Sources at the United States Embassy in Beijing China have just CONFIRMED to me that the United States of America has tendered to China a written agreement which grants to the People’s Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China’s continu More..ed purchase of US Treasury Notes and existing US Currency reserves!
The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.
This means that in the event the US Government defaults on its financial obligations to China, the Communist Government of China would be permitted to physically take — inside the USA — land, buildings, factories, perhaps even entire cities – to satisfy the financial obligations of the US government.
Put simply, the feds have now actually mortgaged the physical land and property of all citizens and businesses in the United States. They have given to a foreign power, their Constitutional power to “take” all of our property, as actual collateral for continued Chinese funding of US deficit spending and the continued carrying of US national debt.
From the Sinomach website:
With approval of the State Council, China National Machinery Industry Corporation (SINOMACH) was established in January 1997. SINO-MACH is a large scale, state-owned enterprise group under the supervision of the State Assets Supervision and Administration Commission.
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