Whether China unknowingly or knowingly unleashed a virus upon the world that has crippled world economies and curtailed personal freedoms, I suspect the prior, but that’s an article for another time.
The reality is that either through a direct and violent attack on the world and complete ineptitude of the communist government of China, they need to be held accountable. So, what can countries who relish freedom, life and liberty do?
The US has an opportunity to not only punish China, but also to help finance our recovery. The communist government of China holds over 1.1 Trillion dollars in treasury notes. This represents about 16% of the outstanding treasury notes. As we all now, treasury notes represent debt that the US owes. Treasury notes are short and/or long term debts that the US owes from raising cash to finance US government operations.
I’ve been a commercial debt collector for over 35 years and I believe we can invoke a tort claim against China.
In the commercial debt collection world, there is a thing that is called a be a prejudgment remedy. A prejudgment remedy is a law afforded to creditors of debtor companies that allow a prejudgment lien on the assets, including bank accounts of businesses that can be argued that are on verge of going out of business. The courts deem these entities as a flight risk and thus freezing the assets and cash of these entities is deemed reasonable until a hearing can be convened.
Thus, a prejudgment lien on China’s treasury notes should be levied immediately and a lawsuit initiated in the world court should be filed immediately.
Unlike a criminal case which requires a unanimous decision, a civil case only requires a 51% majority. Not that I’m not saying what China did is anything short of criminal, the shortest path to victory is to hit the PPC where it hurts which is the wallet.
The strategy of a prejudgment lien is obviously designed to prevent China from calling their loans. They know as we do that there are many many countries who have been so severely impacted by the China virus.
Italy and Spain were hurt so severely. The Netherlands and Belgium were sold faulty PPE from China to the tune on Millions of dollars.
China through their “silk and road initiative” have enslaved many developing countries such as Kenya. They loan Kenya billions of dollars for infrastructure and have the Kenya government pay chinese government contractors aka chinese army corp of engineers build the roads, bridges, airports, etc, Thus, China double dips. They get paid interest in the loan and then have their military get paid to build.
Hey, as they just, “it’s not personal, it’s just business” Let’s give China the business!