The Almighty Yuan?

OK, now this is a slight departure from my usual blog. It probably fits better in the Paxman's rants than here on my page. But as I was skimming this article that had been linked from a relatively unrelated article on Slashdot, I paused ELR and payed closer attention.

So there's a whole bunch of doomsday speak in there, and at the risk of sounding like a wacko conspiracy theorist I am not planning on delving in too deep.

A couple choice quotes:

...Beijing's foreign reserves should be used as a "bargaining chip" in talks with the US.

...Beijing had the power to set off a dollar collapse if it choose to do so.

Though, when Mrs. Clinton's stance was made plain, I was ready to discard the entire article out of hand.

foreign control over 44pc of the US national debt had left America acutely vulnerable.

has called for restrictive legislation to prevent America being "held hostage to economic decicions being made in Beijing, Shanghai, or Tokyo".

Ok, so the brains behind the campaign let her know there is an issue, and in perfect leftie form, her first reaction is to pass more laws. There's a good idea, let's remove more freedom from the American people, and legislate the ability of people to profit off of the American economy.

Hey stupid! Rather than making it illegal for foreigners to own that much American capital, why don't you come up with a solution that makes it possible for Americans to benefit from foreign holdings of American dollars? Why don't you make it possible for Americans to create new businesses and move into a position that would make it a ridiculous notion for China to even try something like this. I mean what is wrong with economic prosperity? What is wrong with America being wealthy enough to tell China to stuff it?

Stop passing laws and let us earn some money!