China takes over US Bank http://www.usnews.com/news/articles/2012/05/10/in-the-red-chinese-banks-moving-into-us-market We have a 16 Trillion dollar debt. http://www.usdebtclock.org/ $1159.5 billion dollars of that debt is to China. http://www.davemanuel.com/us-national-debt-clock.php Banks have been known to be the most predatory institution in society. In the US, there are the primary cause of the Housing Bubble. http://en.wikipedia.org/wiki/United_States_housing_bubble The average Amerian spends most of their money on Housing. http://www.creditloan.com/infographics/how-the-average-consumer-spends-their-paycheck/ I agree we need to pay off the China debt, but why are we giving them a predatory investment like banks? It will be harder to pay!! Why do we give anyone this ability (native or abroad) to mess with our housing? Those idiots allowing these predatory lending policies (and rental contracts) like this will make it where we can never pay them off, we will be in eternal debt to China under predatory contracts. We are being pushed more and more into rentals, which have infinite royalties, which means infinite debt. How can we stand by and let this happen? We need to pay off China through exports and services. We do not need to allow them to invest in predatory institutions. We need to revamp these institutions as it is already.
An interesting development. I posted a comment at that link as follows (first quoted part is from their text): "... [Bank of East Asia] has 13 branches, in mainly Asian-American communities around the country," ... "Anybody can go into the branch, but in reality the neighborhood is Chinese or Chinese-American." ..." IMHO, this is just one more of dozens of tiny steps that China has taken to make the RMB an international currency, which eventually displaces the dollar as the preferred reserve currency of central banks.* I.e. these 13 branches will soon make it easier for US based Chinese American to convert dollars into RMB (Yuan) and send them back to relatives in China. - One small step more towards making the RMB more freely exchanged, but small enough so the CCP can still control the exchange rate to help China´s exports. * China wants to gain the advantage the US has had for decades: Pay for the goods and services it needs with printed paper. Not posted there is this Summary: China has no interest in the banks as an investment or to gain some control over US banking etc. - These tiny banks are just a means for doing what I suggest they will above.
