Could China Destroy the United States Simply by Saying No

Armageddon? Could there be a financial Armageddon on the horizon? Many people fear the United States has become too dependent on foreign treasuries purchasing American bonds, and our debt to the Chinese is adding up at an alarming rate as Obama continues to oversee the spending for more and more big government.

Tiger Management founder and chairman Julian Robertson told CNBC, "It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."

“If the Chinese and Japanese stop buying our bonds, we could easily see [inflation] go to 15 to 20 percent,” he said.  “It's not a question of the economy. It's a question of who will lend us the money if they don't. Imagine us getting ourselves in a situation where we're totally dependent on those two countries. It's crazy.”

Of course, as he creates this shocking scenario, we know one topic of conversation at the G20 this week will be the possibility of a new international currency as countries like China worry about debt repayment in the future. This is one sign China may eventually stop lending; although as of now, Americans borrow to buy the increasing line of Chinese products, which will begin to slow if present job trends continue sending jobs to places like China. It’s time to heed this warning.