Kenneth Rapoza China Threat Saudi Oil 091721

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I know you have a choice on where you can listen each and every day, and I think were taken the time to listen to the program. We locomotor audience. Our number two if you missed any parts of our number one encourage you to check it out Don Janzen. I had a great conversation this morning talked a bit about the influence of communism on the Democratic Party. We also had Gordon chaps Kling and Schmidt pray in Jesus name we got into well the freedom and the liberty that you're supposed to have in Christ, and we really got down deep into that folks in a way that I think would be a blessing to everybody listening to the program.

Very pleased to welcome on my next guest to the program. He is the and industry analyst with the coalition for a prosperous America is a former staff foreign correspondent for the Wall Street Journal and a senior contributor to Forbes covering China since 2011. I want to welcome Ken reposted to the program can welcome good habit there.

There are a lot of key issues that are going on out one of one of those let's let's talk first about what's going on in in the Middle East where we've seen Saudi Arabia and Russia have entered into a military understanding there to be carrying out some military exercises but there are some that are concerned that with and that the frame work of that arrangement that they have that agreement that they are going ahead and and moving more forward with the introduction of other currencies in the purchase of oil and and the and the petrodollar may be a thing of the past are just a single Ari was on with me on Monday talking about that can can you speak to that with your background in in foreign relations and understanding. You know what's going on over there in that in the course that the financial impact, potentially of the Americas of the US dollar not being used as the petrodollar or even reserve currency radio. We like to talk about things that are outrageous or terrifying as I can tell you that much been talking about pricing oil and other current hamburger we already have €12 for capital Brent crude euro euro likely can't oil contract. I think in Europe and euros-dollar. It would be a dollar to dollar.

Some people would say that it would actually get good dog would be weaker dollar would actually mean that people who make it actually compete with emerging countries like Mexico or China now things are actually end up in a foreign market cheaper. Russia and China, but they pricing oil in dollars, not something other than dollars women that might be what you like to play in the future that don't happen will always be a motion on it's not gear we slow burn.

I don't think it could happen anytime soon but talk not to know something. Talk about it will be 20 years and certainly we been you know we've we've heard about these kinds of conversations. I think that the concern has to do with our withdrawal of missiles from Saudi Arabia which recently took place and the potentiality of you know Russia stepping in to that defense mode and and what that might look like China has been mentioned as you mentioned as another player in in that particular role but China and it appears to me as having some issues, some hemorrhaging issues because of some very large concerns in Hong Kong that are considering a bankruptcy can you speak to what that means relative to China's overall economy and what does that mean relative to China's assault on on our financial markets in China right Russia and China. You will end up while the Excel Lockheed Martin equipment they celebrate on equipment and contractors in the world. So what you want and are not China want in on that but a lot of it is almost in a weird way. In reality, because you can write.

Russia wants to sell fairly nestled on the item they would yell at the plane want to sell radar on the racket okay want to get in on the racket. That's what our power to do and they want to not rush and China will not follow you talking about what you probably heard reading or epically big property developer management firm and defaulted on money that they owed their client, including some of the workers Chinese people protesting in China, which is unheard of Chinese police going into the office and talk a lot when putting in the cops because they polka… One gigantic off what it was. Great company. People lost a lot of money help companies going bankrupt. Will there be other companies that go bankrupt and it will be what China has done successfully off by opening their bond market like Goldman Sachs and other Wall Street and London who have happily bought those bonds. So China is off shoring that risk. Also, company like I don't hold want to do full well you guys like that who will loan it to bondholders over investors away left holding the bag as well.

Really display what bailout investment firm for like going broke Chinese but I wouldn't put it past that I would.

I would like that happened. And soon relative to that. What does that do we know about China's roads and bridges program.

For example, in that they are calling you a lot of notes on on a lot of the smaller countries all over Southeast Asia but but beyond Southeast Asia as well if if their economic engine begins to sputter, you know, I look at it is the relationship between Hong Kong and China. Hong Kong was allowed by China to build into an economic powerhouse right at me. They were what the number number three there.

The number three economic power city in the world coming out Hong Kong. Hong Kong is a top top five exchange what happening in Shanghai becoming a top exchange as well and it will probably about already surpassed Japan one day it might even surpass Hong Kong so Hong Kong is always been a financial center, a place for the wealthy Chinese to wash their want for Hong Kong dollars US dollars with a backdoor way of getting dollars.

That's changing to critical the Chinese government is treating Hong Kong now like it basically just another mainland writes what will happen in the future actually Hong Kong was always the plan will just become another mainland China city, whether it still has its own Hong Kong dollar or not. I don't know probably exit the system remained quoted now. Whereas China Hong Kong dollars as a way to capture all the currency can capture the American dollar exchange rate weight control so Hong Kong Hong Kong quite Hong Kong situation right now it is Washington to Chile watching I don't know what they can to Hong Kong in trouble with Hong Kong that your grandma grew up knowing a great deal of American debts. How does a weekend dollar impact China's hold on that American debt on a lot of American treasury bonds. Not much is that you and I do not like it and you are in and like any other country to country by American dollar became weaker… Lesson plan to market price American dollar becomes weaker then the interest rate on bonds go higher if you're somebody like China, who's holding a bond. Let's say you bought it.

All things being equal, I don't hundred dollars by percent interest in all the now integrated tea percent with the hundred dollar bonnet five, but you're losing money right now but 8% one dollar .5% water pump so you want to sell it like any other anyone else in the market. We do kind of think think they would sell it would take a lot not really accomplish more complicated financial decision not not something that China foresee an economic weapon against United States.

I was thinking of as much as it is an economic weapon. I was actually thinking that it weakens their position because you know part of their overall plan in taking on the American dad was to be able to manipulate our market, but if our market loses its value, then that becomes kind of a worthless strategy. Let's talk about how the highway I guess is a highly how would my way while waiting area, so I just recently did an interview with a gentleman is actually tried to be parked in their parking lot to go knock on their door and find out what they're doing. They've closed AAA hundred million dollars facility there in Silicon Valley. I mean they want. They are supposedly close but one of the things that was discovered there was is that there was actually a Chinese general who was inside the plant overseeing operations at that point yeah now course that company has tried to portray itself as we were just employing own so the Chinese government doesn't have anything to do with us. The general sitting inside the plant planet afraid that but there is $100 billion business.

There that appears to have been involved in espionage against the United States of America and now we have the situation with Millie, who we know was in contact with China feeding them information. How serious is this espionage and what does it do I guess on the economic side in in our relationship with imports and exports with China quality issue right so far away but declaring it a private company in a private company, but there's no such thing as a private company in China. There is always easy. Common kind comments party always had hand on the lever. Somehow your grandkids they got to talk on their fall back on the cold bite and bite. Remember Ford, one of the members felt while a group to be a giant in 5G because they settled on a goal source code from Cisco Systems on really think it would bring will be right back. Ken Rapoza is my guest coalition for prosperous America working to get some organ to dig a little bit more around this issue of of China and the and talk more about you know how does America prosper in in the current economic world climate that were in back of or change in any of this now is a critical time to be vigilant in the defense of our freedom.

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Don't forget you can get more chosen generation@ww.chosengeneration.com and will go back to June generation radio again. My guest is Ken Rapoza the coalition for a prosperous America Ken were talking about China.

We were talking about kind that the big picture if you will, but how it is that big picture and and the economic war that were really involved in in China has declared an economic war. I believe on the United States. But how is that impacting you know that the guy and that that that has the small business that that's just trying to, you know, trying to make it every day, put food on the table house house. He impacted by the maneuvers had four years ago now way to think about it, not how it affects the guy okay business or the guy widget somewhere in Texas that goes into the machine somewhere by coming China becomes more like the wet world. The capitalist democracies of the world or the wet world becomes more like China now look around you right now you tell me where you think were heading okay because the Western world is going to become more authoritarian, more my way all the highway more Orwellian jackboots on your neck okay the only way to say that would not be. You can't eat a peach. I would not like them to promote diversity and inclusion in general all ballots stop the show that your nice then that's what you're heading and then you have to stop me on the number 920 New York City go to work per se elder is made in China anyway but actually picture data daylight affect how the government is going to treat you how how the authorities of entreaty of how the government telling you what to do.

The China model that report United States okay so what's at stake guy who worked in the manager of me working with Neiman Marcus stole little Chinese good will type them in the sense that there leaders are having a China style few of how to govern okay want us and I think that the battle about time and people don't realize that people just think of it out. You know we got China, but no China had infiltrated enough ideology behind our managerial elite will use either going to Black Rock for going with that going without ideology to go with that policy tightening kind of wood you see that one of the telltale signs that is is the consideration as I understand it in this new budgetary deal that they're putting through that that essentially, the IRS is going to get a report if you have more than $600 in your bank account. The IRS is going to start getting reports on on on the exchange and and what you spend and what you don't spend out of your account. I mean that that seems pretty communistic to me about the budget reconciliation bill now in Houston, which is also noted better. I don't really know what the IRS is up to the IRS already knows a lot about so I don't know what okay okay yeah there's that their stories out that are talking about, that the that the IRS is supposed to be able to monitor here is every financial account over $600 to be monitored by the IRS on the latest move towards a complete tyranny of the treasury announced a proposal to have the IRS collect all transaction data from every single financial account with a balance exceeding five, $600.this will be on an annual basis, but that sounds to me a lot like what you described, and it certainly 600 bucks in your account that that would touch you know pretty much the majority of Americans that have a bank account. All right. Thank you Ken Rapoza for being here will look forward to having you backs or initiated q. week. You find yourself turning on the news and feeling hopeless open borders spending on praising the prospect of more mandates lockdowns inflation and the list goes on there something you can do by from companies that believe what you and I believe we need to stick together now more than ever, and there's been one company willing to stand with you since 2012 patriot mobile patriot mobile is America's only Christian conservative wireless provider. They offer nationwide coverage using the same towers as all the major carriers patriot mobile has plans to fit any budget and discounts for veteran and first responder heroes and multiline accounts. They are 100% US-based providing exceptional customer service. Most importantly, patriot mobile shares our values and supports organizations fighting for religious freedom, constitutional rights, sanctity of life, first responders and veterans use the code chosen for free activation call 972. Patriot, 972 patriot calls today use the code chosen patriot mobile.com/chosen