This past week you saw the long term strategic competition with China reach a new low point in the recent history between the two global superpowers. The Pentagon released a new report Thursday that claimed China is currently developing a new fleet of long distance bombers. To make matters worse they are most “likely” training their pilots for new missions that target the United States, per the Pentagon report.
Trade wars and semi-friendly economic rivalry are one thing, but this is a whole new level in bad relations. It is only the latest reason for why you need to get a Regal Gold IRA as soon as possible. Gold offers insurance and protection during market turbulence better than any other safe haven with a historically proven track record. Before the various geopolitical and economic threats get any worse, now is the time to look into rollover rules and regulations.
China Steps Up Its Rivalry with the U.S. To A Whole New Level
This major new earthshaking report from the Pentagon is grim reading to be sure. It warns:
“Over the last three years, the People’s Liberation Army (PLA) has rapidly expanded its over-water bomber operating areas, gaining experience in critical maritime regions and likely training for strikes against US and allied targets.”
This threat assessment reads like a surreal post-World War II spy thriller. It is called the “Annual Report on Military and Security Developments Involving the People’s Republic of China.” This report comes from a Congressional mandate. Each year, it reveals significant developments in the Chinese military from the year before the current one. Darker still is the Pentagon report assertion that Beijing is now working towards long range bomber nuclear capability. According to the U.S. military, China’s air force:
“has been reassigned a nuclear mission. The deployment and integration of nuclear capable bombers would, for the first time, provide China with a nuclear ‘triad‘ of delivery systems dispersed across land, sea, and air.” This “long range strategic bomber with a nuclear delivery capability could be operational within the next 10 years.”
The threats from China just keep getting worse. Now they are claiming that they have pulled off a first successful testing of their hypersonic aircraft. Only months ago, their military was able to land H-6K bombers that are capable of carrying nuclear weapons on a small artificial island they built in the South China Sea.
China Calls It All Cold War Propaganda
Unsurprisingly, the Chinese are not admitting to anything. In fact their response is condescending as they denounce the continuing American “Cold War mentality.” Their Ministry of National Defense went so far as to demand that the United States abandon this official position entirely, with:
“We demand that the US side abandon the Cold War mentality, to view China’s national defense and military construction with objectivity and rationality.”
The Chinese Ministry of Foreign Affairs was more diplomatic on Saturday, when it offered:
“The US report ignores the facts, and improperly comments on China’s national defense construction and makes irresponsible remarks about China’s legitimate behavior of safeguarding the sovereignty and security.”
But Why Are the Chinese Suddenly So Interested in Modernizing Their Military?
President Xi Jinping has not hid his burning desire to bring the armed forces of the Middle Kingdom into the current century. Among his points of attack in this regard are his updates to the national military equipment and the elimination of rampant corruption in the military’s command structure.
These are significant improvements to say the least. Yet the Pentagon’s Thursday report makes the threat seem truly epic. It notes with disquiet:
The Chinese PLA is embarking on “the most comprehensive restructure in its history to become a force capable of fighting joint operations.”
It was only a few months ago this year when the U.S. revealed its updated Defense Strategy. In this, it boldly proclaimed that perhaps the greatest challenge of the United States’ military is the “long term strategic competitions with China.”
The reasons for why the Chinese would be suddenly so interested in modernizing their military are quite disturbing. Thursday’s report argued that China is deploying “increasingly advanced military capabilities intended to coerce Taiwan.”
They are attempting to stop the Western, democratic island nation from “officially” declaring independence from China. This seems almost farcical given reality on the ground today. For nearly 70 years, Taiwan has been for all intents and purposes independent. Yet this does not stop Beijing from viewing the “renegade island of Formosa” as a crucial piece of its core sovereign ground.
The Trade War with China Is Influencing Their Behavior Too
And then there is that growing and expanding trade war with the U.S. that irks the Chinese. The Pentagon took a swing at this as well in the report from last week:
“China intends to use the BRI [One Belt, One Road Initiative] to develop strong economic ties with other countries, to shape their interests to align with China’s.”
China has been busy for some time now trying to reduce its U.S. Treasury holdings so that it could decrease its reliance on U.S. Dollars in its economy and sidestep American economic power in its geopolitical ambitions. They are now selling their net holdings of Treasuries and massively ramping up their gold holdings in place of them. It is a serious warning to the United States, and to you personally as well.
Trade War With China Will Have American Economic Consequences Too
The U.S. will not escape the consequences of the trade war either, according to some observers. American tariffs levied on Chinese imports will likely end with consumers in the U.S. being forced to pay up more cash for the same products in the future, per one industry association head Rick Helfenbein (who heads up the American Apparel and Footwear Association). He warned:
“We’re having some serious problems with this tariffs situation. It is disruptive to our supply chains, this is hurtful to our business. What’s going to happen down the road is very simple — prices will go up, sales will go down, jobs will be lost. This will have a negative impact on the economy. We are watching the Titanic sail out of port here; this is not a good thing,”
It is true that the tariffs only keep expanding on both sides. The U.S. most recently applied another go round of $16 billion on Chinese imports.”
Naturally the shoes and clothing industry has reason to be upset. Their sector is going to suffer from tariffs, thanks to a 72 percent levy on all shoes, an 84 percent add-on to accessories, and a 41 percent tariff on clothing on any goods from China entering the United States.
Gold Will Never Fail Your Retirement Portfolio
As if all of this were not disturbing enough, now the Chinese are building up their counterspace capabilities per the Pentagon report from last week:
“…including kinetic kill missiles, ground based lasers, and orbiting space robots. ” They are striving to “expand space surveillance capabilities that can monitor objects across the globe and in space and enable counter-space actions.”
This explains why American President Donald Trump is so keen on building the United States’ first space force by 2020 in order to safeguard American assets out in space. The real question is: who is going to protect your personal assets here on earth? The answer is gold. Now all that you need to understand is: what assets go in a Regal Assets IRA and what are the rules on storage for it today.