Will China be the Skunk at the BRICS Picnic?

Timing is everything. The party Chinese dictator Xi Jinping planned to have in South Africa this week was meant to showcase his country’s emergence as the pillar of a new economic alliance intended to topple the dollar as the world’s reserve currency with an alternative reportedly backed in some fashion by gold. 

The only problem is that the Chinese Communist Party is in a growing economic crisis. Its real estate bubble has burst. Its banks are saddled with unmanageable debt. Its exports are down. And it’s said to be looking for a trillion-dollar bailout.

Who do you think the CCP expects to provide that kind of money? The short answer is YOU, through your pension funds, other investments or federal taxes. 

Under no circumstances should Wall Street or Washington be further underwriting an enemy simultaneously seeking our economic and national destruction.

This is Frank Gaffney. 

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