Will Grigg's Liberty Minute

August 10, 2007

The Chinese government, which for years has been propping up the US economy by purchasing huge volumes of Treasury notes, has publicly suggested that it may exercise what it calls the ?nuclear option? by selling off those notes.

Were Beijing to do so, it would fatally undermine the dollar, which is already hitting new lows when compared to other currencies, including the euro.

This announcement came as the Chinese, along with Russia and several central Asian nations, conducted joint military exercises through the recently created Shanghai Cooperation Organization ? a Chinese-led regional alliance.

Tensions with Moscow and Beijing are predictable, given the nature of the regimes ruling Russia and China. But the Bush administration's announced intention to pursue a ?global democratic revolution? did nothing to improve the situation. Neither did launching an unnecessary war in Iraq that is depleting our military while driving us further in debt to our chief strategic rivals.

Let us take back the liberty wherewith Christ has made us free.