China threatens America with a Trade War just as predicted by Gerald Celente , The US lawmakers are going after China and accusing the country of manipulating currency. A bill recently cleared a hurdle in the Senate to impose tariffs on Chinese imports. Is this a political ploy or does Washington have a legitimate case? Could this turn into a trade war? The moment Congress enacts those tariffs, expect the following: We lose 92 BILLION in exports to China (cost 1.84 MILLION American jobs using the 50,000 figure), Companies will close because higher end manufacturing chains won’t be able to source components, will have to locate other suppliers, destroy and slow down their product development process, or close shop, and forget a DOW ever being at 10,000, let alone 5000. But hey, the politicians get votes… from The AMERICANS.
An intriguing article at w w w. p r i s o n p l a n e t. c o m may support this increasingly scary possibility. “$74 Billion Dollars in Treasuries Dumped in 6 Consecutive Weeks – Biggest Sequential Outflow in History.” The likely suspect is China, because of their vast holdings of U.S. Treasuries.
Begun, the trade wars have.