…for President Hu to acknowledge the primary weakness of America, our vulnerable status as reserve currency of the world. In fact, he specifically term that status as “a product of the past.” He was quick to blame the 2008 market meltdown on the United States and just as quickly call for an elevation of the Chinese position vis-a-vis the U.S.
Our concern is that President Hu is speaking as an apologist for the economic war already underway. It appears that the People’s Liberation Army may well be calling the critical shots here.
What President Hu is objecting to, a weakening dollar, may in fact be the targeted outcome of the PLA in the not-too-distant future. Regardless, this is certainly top of mind for the Chinese. We believe this speech, summarized at the following Wall Street Journal link, fits completely within the context of a coming Phase 3 attack:
This is currently the lead story on Drudge Report (“Hu Questions Future of the Dollar’) and one every American should follow closely. If this is preparation for a Phase 3 attack, we should be preparing a response even now. It appears, however, that we are ignoring caution and proceeding in ignorance under the assumption that our economic might is superior. This is a major mistake. When the dollar loses reserve currency status and collapses, President Hu will be able to point to this speech and tell us “I warned you.”
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