Gerald Celente on Russia Today February 13, 2010 discusses global stimulus, jobs, government failure and the beginnings of a global war.

It’s going to be very difficult for China to unwind their positions without devaluing what they have. But there’s no question about it. A financial war is taking place right now.

Again what’s going on in Europe.We’re trying to bail out Greece. So what if Germany and France come about and help Greece get bailed out. Then there’s Portugal, there’s Italy, there’s Spain, there’s Ireland.

A global war is beginning. The first stages, of course, are the financial wars. And that’s what we’re seeing now. Of course the Chinese response was in response to the United States giving more military aid to Taiwan.

The Chinese are in a very difficult position. They have all these US Treasuries that they’re holding and if they dump in the market they’re going to be the end losers.

We’ve suggested on numerous occasions in the past that we are engaged in a global war. For now, engagements have been more or less limited to the economic and cyber battlefields. And as much as many people think that the US will completely collapse and China will be left to rule the world, we suggest that if the US collapses, China will not be left unscathed. The US knows this and China knows this.

The Chinese and US defense agencies are certainly applying war game theory to tons of different scenarios, both hot and cold, as evidenced by the Pentagon preps for economic warfare:

The Pentagon sponsored a first-of-its-kind war game last month focused not on bullets and bombs — but on how hostile nations might seek to cripple the U.S. economy, a scenario made all the more real by the global financial crisis.

With China holding upwards of USD $1 Trillion in treasuries, the global race for control of mining and energy resources, decades long tensions in Taiwan, and a host of other problems, this may very well come to a head over the next decade. While the last thing any average citizen in China or the US wants is for this cold war to go hot, we suspect that things will warm up on several occasions going forward.

When the SHTF in the economy, the leaders in both countries will be looking for scapegoats.

Fingers (and missiles) will be pointing in both directions.

Watch Gerald Celente on Russia Today February 13, 2010: