In 237 years of operating a sovereign government and facilitating a public debt anyone seeking to purchase government bonds has to submit a bid through a broker on an exchange. This is just the way it is done. Even our best buddies, our allies, do it this way
But now a new procedure has been arranged for one bondholder, for one creditor who is a special customer. No more bid submission, no more waiting with the other creditors . . . One very special, very important creditor is provided immediate direct access to the U.S. Treasury.
Remarkably China now holds a paramount importance that the United States itself used to have vis-a-vis banana republics. When Uncle Sam came to town in the old days the red carpet would be rolled out and all the caudillos and jefes would line up to provide first-class ass kissing. Now when the Chinese commissars approach the American government assumes the position.
This change in procedure was not announced, there was no press release, no hearing, no report. Indeed, the Government would prefer if we ignored this symbol of the decline and fall of the American empire. It is a mark of shame and we are sure the Chinese are exulting in its historical import.
We are not. We, unlike the fauning and obsequious Banksters and Corporateers who have forced us into this ignominy, are sad and ashamed. The UNITED STATES of AMERICA, the onetime beacon of hope and freedom for the world, the nation built on the blood of patriots, is now a Coolie nation.