Last May, echoing the sentiments of President Donald Trump I wrote an article entitled, “America, China’s Piggybank.” In it I explained why China needs U.S. dollars, which they receive in trade for exports to America. Essentially, since the early-1970’s Federal Reserve banks on Wall Street have owned the franchise of issuing U.S. dollars, in practically unlimited quantities, sending them all around the world, expecting the U.S. military and intelligence services to enforce their value.
Hank Sullivan: China built on American debt