In China, fears of financial Iron Curtain as U.S. tensions rise

Tom Paine 1949

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Mar 15, 2020
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Chinese leaders have for the first time been discussing openly the possibility that the U.S. will pursue a full Cold War decoupling policy toward them, perhaps cutting off all use of the (supposedly neutral) SWIFT inter-banking dollar payment system. This was at one time considered something only madmen would attempt. As a result the Chinese state bank and gov’t and private institutions are rushing their own preparations to build a “digital yuan” domestic economy, and China is struggling to build its own SWIFT-like infrastructure and further internationalize the Yuan.

Such a full decoupling is still not expected, as it is the economic equivalent of all out war. It would have tremendous worldwide ramifications on markets, trade, credit and politics. Indeed, it could easily lead to shooting wars. But the fact that Chinese leaders now feel they must plan for and openly speak of the possibility of such a measure ... is itself very worrying.

Here is an excerpt from a Reuter’s article published last week:


SHANGHAI/BEIJING (Reuters) - A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China’s huge U.S. debt holdings.

Those concerns have galvanised some in Beijing to revive calls to bolster the yuan’s global clout as it looks to decrease reliance on the greenback... “Yuan internationalisation was a good-to-have. It’s now becoming a must-have,” said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People’s Bank of China (PBOC).

The threat of Sino-U.S. financial “decoupling” is becoming “clear and present”, Ding said. Although a complete separation of the world’s two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity. Washington has unleashed a barrage of actions penalising China ... and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to U.S. elections on Nov. 3.

“A broad financial war has already started ... the most lethal tactics have yet to be used,” Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters. Yu said the ultimate sanction would involve U.S. seizures of China’s U.S. assets - Beijing holds over $1 trillion yuan in U.S. government debt - which would be difficult to implement and a self-inflicted wound for Washington. But calling U.S. leaders “extremists”, Yu said a decoupling is not impossible, so China should make preparations....

Fang Xinghai, a senior securities regulator, said China is vulnerable to U.S. sanctions and should make “early” and “real” preparations. “Such things have already happened to many Russian businesses and financial institutions,” Fang told a June forum organised by Chinese media outlet Caixin.

Guan Tao, former director of the international payments department of China’s State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling. “We have to mentally prepare that the United States could expel China from the dollar settlement system,” he told Reuters.... Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington’s “nuclear option” of kicking China out of the dollar system. “Beijing cannot afford to be thrown into disarray when sanctions indeed befall China,” he said.

In China, fears of financial Iron Curtain as U.S. tensions rise
 
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China is not at all interested in attacking or “taking down” the U.S. They have their hands full trying to raise the standard of living of their own people to even a third of the U.S. standard. They also have immense ecological and pollution problems they are trying to address while still being reliant on coal as a primary energy source.

Right now the whole world is wondering if the U.S. will “take itself down” in this election cycle and aftermath. Your paranoia about China and scapegoating about a non-existent Covid-19 “bio-attack” on the U.S. by China are noted.

There is no evidence that anything happened to the good doctor you mentioned, except that she was publicly recognized and applauded for her work in Wuhan. She herself never said anything about a “bio-attack,” but only pressed back in early January for the mysterious new “SARS-like” virus to be fully and immediately reported and investigated. Bravo to her!
 
China is not at all interested in attacking or “taking down” the U.S. They have their hands full trying to raise the standard of living of their own people to even a third of the U.S. standard. They also have immense ecological and pollution problems they are trying to address while still being reliant on coal as a primary energy source.

Right now the whole world is wondering if the U.S. will “take itself down” in this election cycle and aftermath. Your paranoia about China and scapegoating about a non-existent Covid-19 “bio-attack” on the U.S. by China are noted.

There is no evidence that anything happened to the good doctor you mentioned, except that she was publicly recognized and applauded for her work in Wuhan. She herself never said anything about a “bio-attack,” but only pressed back in early January for the mysterious new “SARS-like” virus to be fully and immediately reported and investigated. Bravo to her!
If you have a link that proves Dr. Ai Fen is alive and well, I would love to see it. I can find nothing since April of this year when she went missing and her family was silenced. As for their bio-attack on the world, that is an accurate description given China's actions post release of the virus. When you shutter your own country and allow known infected persons to travel the globe, what else do you call it? Bad judgement?
 
One of the main forces pushing the “Made In China” Covid-19 propaganda campaign was the Falun Gong religious cult’s pro-Trump Epoch Times, which also spread slanders that China deaths were in the hundreds of thousands and that Wuhan was cremating living victims of the disease. They also pushed the story that Dr. Ai Fen was imprisoned and disappeared, even before she reappeared shortly in April to say she was working as always and just wanted to be left alone to do her work.

Another original pusher of such stories was Breitbart, which worked closely with fugitive Chinese millionaire Guo Wengui, whose China information bureau served as Breitbart’s partner. Bannon was recently arrested on Guo’s $35 million dollar yacht in Connecticut. See Steven Bannon indicted for Fraud for my comments on the Bannon / Guo connection.

As for Dr. Ai Feng, her situation is not related directly to this OP theme, but she certainly may be under pressure not to speak freely about the initial cover-ups that she helped expose by Wuhan CCP bureaucrats during January of this year. China is not a country where free speech is guaranteed to individuals, especially when matters of national security or whistleblowing are concerned. This is a great pity and problem in China. Dr. Ai Feng may surely have interesting things to say about those early weeks of bureaucratic delay and indecisiveness, as perhaps also of our own nation’s many months of the same.
 
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... still being reliant on coal as a primary energy source.
...


I remember spending just one day walking around Shanxi Province and having clothes, hair, shoes all jet black by the end of the day. Sneezing out what looked like squid ink. Unfiltered coal dust saturating the air is pretty nasty stuff. I don't know how coal miners last a decade in that kind of work.
 
" Ahead In The Gain "

* Necessity Is The Mother Of Invention *

I remember spending just one day walking around Shanxi Province and having clothes, hair, shoes all jet black by the end of the day. Sneezing out what looked like squid ink. Unfiltered coal dust saturating the air is pretty nasty stuff. I don't know how coal miners last a decade in that kind of work.


 
China is not at all interested in attacking or “taking down” the U.S. They have their hands full trying to raise the standard of living of their own people to even a third of the U.S. standard. They also have immense ecological and pollution problems they are trying to address while still being reliant on coal as a primary energy source.

Right now the whole world is wondering if the U.S. will “take itself down” in this election cycle and aftermath. Your paranoia about China and scapegoating about a non-existent Covid-19 “bio-attack” on the U.S. by China are noted.

There is no evidence that anything happened to the good doctor you mentioned, except that she was publicly recognized and applauded for her work in Wuhan. She herself never said anything about a “bio-attack,” but only pressed back in early January for the mysterious new “SARS-like” virus to be fully and immediately reported and investigated. Bravo to her!
They have their hands full trying to raise the standard of living of their own people to even a third of the U.S. standard. They also have immense ecological and pollution problems they are trying to address while still being reliant on coal as a primary energy source.

Because if it's two things at the very top of the list for brutish communist regimes, it's raising economic standards of the peasants and environmental sensitivity.

Fuck my life.
 
China is not at all interested in attacking or “taking down” the U.S. They have their hands full trying to raise the standard of living of their own people to even a third of the U.S. standard. They also have immense ecological and pollution problems they are trying to address while still being reliant on coal as a primary energy source.

Right now the whole world is wondering if the U.S. will “take itself down” in this election cycle and aftermath. Your paranoia about China and scapegoating about a non-existent Covid-19 “bio-attack” on the U.S. by China are noted.

There is no evidence that anything happened to the good doctor you mentioned, except that she was publicly recognized and applauded for her work in Wuhan. She herself never said anything about a “bio-attack,” but only pressed back in early January for the mysterious new “SARS-like” virus to be fully and immediately reported and investigated. Bravo to her!
Still waiting for that link about Dr. Ai Fen being alive and well. I can't find anything more recent than April 2020.
 
Chinese leaders have for the first time been discussing openly the possibility that the U.S. will pursue a full Cold War decoupling policy toward them, perhaps cutting off all use of the (supposedly neutral) SWIFT inter-banking dollar payment system. This was at one time considered something only madmen would attempt. As a result the Chinese state bank and gov’t and private institutions are rushing their own preparations to build a “digital yuan” domestic economy, and China is struggling to build its own SWIFT-like infrastructure and further internationalize the Yuan.

Such a full decoupling is still not expected, as it is the economic equivalent of all out war. It would have tremendous worldwide ramifications on markets, trade, credit and politics. Indeed, it could easily lead to shooting wars. But the fact that Chinese leaders now feel they must plan for and openly speak of the possibility of such a measure ... is itself very worrying.

Here is an excerpt from a Reuter’s article published last week:


SHANGHAI/BEIJING (Reuters) - A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China’s huge U.S. debt holdings.

Those concerns have galvanised some in Beijing to revive calls to bolster the yuan’s global clout as it looks to decrease reliance on the greenback... “Yuan internationalisation was a good-to-have. It’s now becoming a must-have,” said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People’s Bank of China (PBOC).

The threat of Sino-U.S. financial “decoupling” is becoming “clear and present”, Ding said. Although a complete separation of the world’s two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity. Washington has unleashed a barrage of actions penalising China ... and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to U.S. elections on Nov. 3.

“A broad financial war has already started ... the most lethal tactics have yet to be used,” Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters. Yu said the ultimate sanction would involve U.S. seizures of China’s U.S. assets - Beijing holds over $1 trillion yuan in U.S. government debt - which would be difficult to implement and a self-inflicted wound for Washington. But calling U.S. leaders “extremists”, Yu said a decoupling is not impossible, so China should make preparations....

Fang Xinghai, a senior securities regulator, said China is vulnerable to U.S. sanctions and should make “early” and “real” preparations. “Such things have already happened to many Russian businesses and financial institutions,” Fang told a June forum organised by Chinese media outlet Caixin.

Guan Tao, former director of the international payments department of China’s State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling. “We have to mentally prepare that the United States could expel China from the dollar settlement system,” he told Reuters.... Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington’s “nuclear option” of kicking China out of the dollar system. “Beijing cannot afford to be thrown into disarray when sanctions indeed befall China,” he said.

In China, fears of financial Iron Curtain as U.S. tensions rise


Good. They attacked the WORLD. You progressive scum support those murderous swine over the rest of the world.

You people are fucked in the head.
 
China is not at all interested in attacking or “taking down” the U.S. They have their hands full trying to raise the standard of living of their own people to even a third of the U.S. standard. They also have immense ecological and pollution problems they are trying to address while still being reliant on coal as a primary energy source.

Right now the whole world is wondering if the U.S. will “take itself down” in this election cycle and aftermath. Your paranoia about China and scapegoating about a non-existent Covid-19 “bio-attack” on the U.S. by China are noted.

There is no evidence that anything happened to the good doctor you mentioned, except that she was publicly recognized and applauded for her work in Wuhan. She herself never said anything about a “bio-attack,” but only pressed back in early January for the mysterious new “SARS-like” virus to be fully and immediately reported and investigated. Bravo to her!

Bullshit. You have to be a Chinese stooge, or joe Biden to think that, but I repeat myself.
 
Chinese leaders have for the first time been discussing openly the possibility that the U.S. will pursue a full Cold War decoupling policy toward them, perhaps cutting off all use of the (supposedly neutral) SWIFT inter-banking dollar payment system. This was at one time considered something only madmen would attempt. As a result the Chinese state bank and gov’t and private institutions are rushing their own preparations to build a “digital yuan” domestic economy, and China is struggling to build its own SWIFT-like infrastructure and further internationalize the Yuan.

Such a full decoupling is still not expected, as it is the economic equivalent of all out war. It would have tremendous worldwide ramifications on markets, trade, credit and politics. Indeed, it could easily lead to shooting wars. But the fact that Chinese leaders now feel they must plan for and openly speak of the possibility of such a measure ... is itself very worrying.

Here is an excerpt from a Reuter’s article published last week:


SHANGHAI/BEIJING (Reuters) - A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China’s huge U.S. debt holdings.

Those concerns have galvanised some in Beijing to revive calls to bolster the yuan’s global clout as it looks to decrease reliance on the greenback... “Yuan internationalisation was a good-to-have. It’s now becoming a must-have,” said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People’s Bank of China (PBOC).

The threat of Sino-U.S. financial “decoupling” is becoming “clear and present”, Ding said. Although a complete separation of the world’s two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity. Washington has unleashed a barrage of actions penalising China ... and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to U.S. elections on Nov. 3.

“A broad financial war has already started ... the most lethal tactics have yet to be used,” Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters. Yu said the ultimate sanction would involve U.S. seizures of China’s U.S. assets - Beijing holds over $1 trillion yuan in U.S. government debt - which would be difficult to implement and a self-inflicted wound for Washington. But calling U.S. leaders “extremists”, Yu said a decoupling is not impossible, so China should make preparations....

Fang Xinghai, a senior securities regulator, said China is vulnerable to U.S. sanctions and should make “early” and “real” preparations. “Such things have already happened to many Russian businesses and financial institutions,” Fang told a June forum organised by Chinese media outlet Caixin.

Guan Tao, former director of the international payments department of China’s State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling. “We have to mentally prepare that the United States could expel China from the dollar settlement system,” he told Reuters.... Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington’s “nuclear option” of kicking China out of the dollar system. “Beijing cannot afford to be thrown into disarray when sanctions indeed befall China,” he said.

In China, fears of financial Iron Curtain as U.S. tensions rise


Maybe they could you know, try to balance trade so that the US doesn't feel the need to play such hard ball?
 
Chinese leaders have for the first time been discussing openly the possibility that the U.S. will pursue a full Cold War decoupling policy toward them, perhaps cutting off all use of the (supposedly neutral) SWIFT inter-banking dollar payment system. This was at one time considered something only madmen would attempt. As a result the Chinese state bank and gov’t and private institutions are rushing their own preparations to build a “digital yuan” domestic economy, and China is struggling to build its own SWIFT-like infrastructure and further internationalize the Yuan.

Such a full decoupling is still not expected, as it is the economic equivalent of all out war. It would have tremendous worldwide ramifications on markets, trade, credit and politics. Indeed, it could easily lead to shooting wars. But the fact that Chinese leaders now feel they must plan for and openly speak of the possibility of such a measure ... is itself very worrying.

Here is an excerpt from a Reuter’s article published last week:


SHANGHAI/BEIJING (Reuters) - A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China’s huge U.S. debt holdings.

Those concerns have galvanised some in Beijing to revive calls to bolster the yuan’s global clout as it looks to decrease reliance on the greenback... “Yuan internationalisation was a good-to-have. It’s now becoming a must-have,” said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People’s Bank of China (PBOC).

The threat of Sino-U.S. financial “decoupling” is becoming “clear and present”, Ding said. Although a complete separation of the world’s two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity. Washington has unleashed a barrage of actions penalising China ... and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to U.S. elections on Nov. 3.

“A broad financial war has already started ... the most lethal tactics have yet to be used,” Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters. Yu said the ultimate sanction would involve U.S. seizures of China’s U.S. assets - Beijing holds over $1 trillion yuan in U.S. government debt - which would be difficult to implement and a self-inflicted wound for Washington. But calling U.S. leaders “extremists”, Yu said a decoupling is not impossible, so China should make preparations....

Fang Xinghai, a senior securities regulator, said China is vulnerable to U.S. sanctions and should make “early” and “real” preparations. “Such things have already happened to many Russian businesses and financial institutions,” Fang told a June forum organised by Chinese media outlet Caixin.

Guan Tao, former director of the international payments department of China’s State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling. “We have to mentally prepare that the United States could expel China from the dollar settlement system,” he told Reuters.... Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington’s “nuclear option” of kicking China out of the dollar system. “Beijing cannot afford to be thrown into disarray when sanctions indeed befall China,” he said.

In China, fears of financial Iron Curtain as U.S. tensions rise

You ChiCom sock puppets are fucked.

Trump tried to get the CCP to the bargaining table. They pretended to acquiesce, then - in the hopes they could elect one of their stooges in the American Taliban (democrat) Party as President - they walked!

Trump warned them: you might not like this deal now, but if you walk away and I will, I GUARANTEE, you won't like the next deal.

They bet the farm on Biden, and they lost

Again, you ChiCom sock puppets are fucked
 
Chinese leaders have for the first time been discussing openly the possibility that the U.S. will pursue a full Cold War decoupling policy toward them, perhaps cutting off all use of the (supposedly neutral) SWIFT inter-banking dollar payment system. This was at one time considered something only madmen would attempt. As a result the Chinese state bank and gov’t and private institutions are rushing their own preparations to build a “digital yuan” domestic economy, and China is struggling to build its own SWIFT-like infrastructure and further internationalize the Yuan.

Such a full decoupling is still not expected, as it is the economic equivalent of all out war. It would have tremendous worldwide ramifications on markets, trade, credit and politics. Indeed, it could easily lead to shooting wars. But the fact that Chinese leaders now feel they must plan for and openly speak of the possibility of such a measure ... is itself very worrying.

Here is an excerpt from a Reuter’s article published last week:


SHANGHAI/BEIJING (Reuters) - A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China’s huge U.S. debt holdings.

Those concerns have galvanised some in Beijing to revive calls to bolster the yuan’s global clout as it looks to decrease reliance on the greenback... “Yuan internationalisation was a good-to-have. It’s now becoming a must-have,” said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People’s Bank of China (PBOC).

The threat of Sino-U.S. financial “decoupling” is becoming “clear and present”, Ding said. Although a complete separation of the world’s two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity. Washington has unleashed a barrage of actions penalising China ... and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to U.S. elections on Nov. 3.

“A broad financial war has already started ... the most lethal tactics have yet to be used,” Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters. Yu said the ultimate sanction would involve U.S. seizures of China’s U.S. assets - Beijing holds over $1 trillion yuan in U.S. government debt - which would be difficult to implement and a self-inflicted wound for Washington. But calling U.S. leaders “extremists”, Yu said a decoupling is not impossible, so China should make preparations....

Fang Xinghai, a senior securities regulator, said China is vulnerable to U.S. sanctions and should make “early” and “real” preparations. “Such things have already happened to many Russian businesses and financial institutions,” Fang told a June forum organised by Chinese media outlet Caixin.

Guan Tao, former director of the international payments department of China’s State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling. “We have to mentally prepare that the United States could expel China from the dollar settlement system,” he told Reuters.... Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington’s “nuclear option” of kicking China out of the dollar system. “Beijing cannot afford to be thrown into disarray when sanctions indeed befall China,” he said.

In China, fears of financial Iron Curtain as U.S. tensions rise

When you see how the Chinese treat blacks, Tibetans, Falun Gong, you can only shake your head at the Useful Idiots who spread the CCP talking points
 
...

Because if it's two things at the very top of the list for brutish communist regimes, it's raising economic standards of the peasants and environmental sensitivity.
...

The CCP really has very little choice but to be concerned with both of those things to some degree.
 
" Adversarial Systems And Kindred Non Interests "

* International Law Enforcing Intellectual Property Against Espionage Competing In Neomercantilism With Serious Aggression *

The CCP really has very little choice but to be concerned with both of those things to some degree.
Does the concern have to do with free hong kong and every other ass hat claim for territory by the numerically over represented globally chinese communists , such that the japanese should still be beating them as inferiors , or does the concern have to with the west being capable of self reliance without surrogate expansionism of chinese communist influence along with its demeanor of disregard for self ownership and self determination elements of individualism ?
 
It could develop into more than a cold war. All it would take is one wrong move from either side, or sides I guess if you think of Russia's and India's involvement. China is at a disadvantage economically speaking as it's BRI maritime routes do not permit easy access to western Europe and South America.

Only another facet of the complete shit storm diamond.

I have many links. Here are but a few.
 
Because if it's two things at the very top of the list for brutish communist regimes, it's raising economic standards of the peasants and environmental sensitivity.

Fuck my life.
It is impossible to read the minds of the top CCP leadership, but you can bet your ass that “raising economic standards of the peasants and environment” is very near the top of the list of CCP leadership goals. Hell, they’ve already shown success in these fields. Failure to continue achieving such publicly declared material goals might prove fatal to the CCP leaders, whose legitimacy largely depends on their proving they get results.

It is also impossible to predict the future, but it’s a safe bet that the future of commenters like Oddball, CrusaderFrank, and Correll is already ... “fucked.” Everything about them, from their ignorance to their arrogance to their personal insults screams ... “Fuck my life.”
 
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