Going After the Money…. We Can’t..

Made in China - inscription on Red Rubber Stamp.In this age of electronic banking the way to shut down any organization is to go after their access to money. It looks like that is just what is currently happening with North Korea at least to an extent.

“We need to step up and target those financial institutions in Asia and beyond that are supporting the brutal and dangerous North Korean regime.” When challenged by Royce about “a number of small banks” still doing business with North Korea and the need to choke off the country’s access to hard currency, Glaser replied: “That’s exactly what we are trying to do.” Royce said he hoped a bipartisan bill he sponsored that would label North Korea “a primary money laundering concern” would be passed by the Senate this year…. The country’s main economic ties are with China and, according U.S. government reports, its tiny economy has supported itself with money-making scams ranging from counterfeiting $100 bills to illicit arms and drug sales. SOURCE:  U.S. takes aim at North Korea’s remaining financial links – Yahoo News.

Being a simple guy I just can’t understand how we can give China so much power over our day-to-day lives when they support those who would love to see us annihilated from this earth. I don’t know about you but it seems everything I buy almost anywhere today comes with a “Made in China” tag. It is about time we started putting conditions on transferring our wealth to that country. Millions of good paying jobs have disappeared to be resurrected in mainland China at pennies on the dollar and the primary purpose is to provide more profits for their most often times very rich stockholders..

I know doing something about this problem will be a hard-sell for the Republicans in congress. They simply believe that what our corporations do to make their profits is their own business and the government should stay out of it. And again if Obama comes out for it they will naturally be adamantly against it whatever it is. I think this same thing would be happening no matter who the Democrat was that occupies the Oval Office. Its pure politics and it is getting uglier by the minute. But I am getting off topic here.

How can we allow China to help North Korea with their illegal schemes and not suffer any consequences?  Of course part of that reason, maybe the biggest part, is that we are already so deeply dependent on China that we simply can’t afford to confront them. If they for whatever reason decided to stop sending us the products they now make our economy would likely collapse. How did we get into this type of arrangement is of course because of greed. When a bigger profit can be made using Chinese labor at pennies per hour as opposed to dollars per hour for home-grown labor greed will go off-shore every time. But I kind of think that even those who made these decisions to move their production to China are surprised at the speed at which the total transformation occurred. They all seemed to rush there without really considering the consequences.  But then again greed has never been much of a forward-looking thing…

4 thoughts on “Going After the Money…. We Can’t..

  • China owns much of the foreign “paper” on our national debt. I believe we can live without their goods- but they own our money. A bit scary. What happens if they call their loan?

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    • Yeah Janette, that is the other shoe to drop. We do owe most of our debt to them. What would happen if they called it all in? I don’t know… Kind of scary…

      Most people don’t seem to remember that import duties were once our primary means of taxation. It protected jobs and cheap foreign goods from entering the country. We replaced that with income taxes and seem to have forgotten about how to regulate foreign goods…

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  • It isn’t Republicans…it is all of them. We sold our collective soul to China long ago. True story, I heard it in the late 1990s but I have no proof so take it at face value.

    In the 1970s, China approached Panama with this offer. Get control of the Panama Canal away from the USA and China would turn Panama City into the banking hub for central and South America. When I walked around the city back then, it was packed with Chinese and there is a bank on every street corner. In part thanks to President Carter.

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    • Yeah Rob I certainly agree that there is enough blame to go around to all those yahoos in congress. But it is the republican mantra to leave businesses alone and don’t interfere with their ability to make a profit. They are the ones who allow, even encourage, China to come in and take us over.

      I don’t know how old you are but I was around and pretty active in politics in the 1970 and your story sounds more like a conspiracy theory than reality. It wasn’t until the mid 90s that most businesses were trying to set up in China. I just don’t buy the China/Panama thing I guess (ha)

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