Tag Archives: china in the last days

The Bullet that Kills the United States: More and More Nations are shooting at the Dollar and as the Dollar Goes—- So goes the Country

 

 

The big economic crisis to look for is the worldwide dumping of the United States Dollar.  Technically, (and soon to be formerly) the US Dollar was the world’s reserve currency but ever since the Nefarious Federal Reserve began to print them irresponsibly and to keep interest rates unnaturally low many nations have seen the US dollar as a poor investment. The spending spree of the socialist democrats of the Obama Administration has made the crisis exponentially worse.  The dollar continues to weaken and monetary policy seems to be steering us toward a hyperinflation event not unlike what Argentina experienced.  The Weimar Republic of pre World War II Germany acted just like we are now: and the result was a destroyed economy featuring a German Mark that was so valueless that you needed wheelbarrow full of them to buy a loaf of bread.  Am I saying that we could be coming to the end of the dollar?  Am I saying that we’re coming up on an economic event that will make the Great Depression of the 1930’s look like a folk dance?  Am I saying that our economic dominance of the world is at an end? 

Yes.  I am.

Every sane nation in the world is looking toward what will replace the US Dollar and how to convert their ever more valueless dollars into the new world currency.  Meetings are being held, and continue to be held, in Europe for a new world order financial system: and in this quest they are supported by the Russians and the Communist Chinese.  The Chinese have a huge holding of US Dollars and now they laugh openly at our Treasury Secretary when he lectures at a Beijing University; and they comment weakly on the mismanagement and moral depravity of the Dollar and the US Government.  The Communist Chinese are lecturing us on government spending, monetary policy, trade policy, energy policy and its abundantly clear to the world that the Chinese will be our successor as the dominant nation on earth. Leadership of the western world will return to Europe as I think the Euro will emerge victorious when the dollar dies. The Bible says that in the last days the world will be led by Europe and I suspect that when the dust settles the new global conventions of currency and trade will be drafted largely by and for Europe. The world is looking toward the day when the United State dominance of the global financial system will be over.

 It’s taking place right now in Washington as the disastrous Cap and Trade Bill passes in the House of Representatives and if passed by the Senate will, all by itself, destroy the American Economy.  This is not to mention the insane Socialized Medicine Bill that the White House is ramming through congress, or the talk of more “stimulus” for the economy, or the bankruptcy of our state and local governments.  The Chinese look at this and clearly are amazed at the rate at which we’re committing suicide as a nation, and as a culture. They need a way to get rid of their dollars while extracting as much value as they can, to convert into a new world order currency.  Every nation knows that if they start selling too many dollars too quickly they can spook the market and it would be like a run at the bank.  Every nation would be selling dollars, driving down the value of the dollar and the costs of commodities sky high, while no one would be buying dollars, nor financing our debt, and the USA would be in economic and political anarchy.

When the Weimar Republic went through this they became, to say the least, politically unstable and finally stabilized under a system of corporatism that the world came to know as Fascism and Nazism under a little guy with a funny mustache named Adolf Hitler.  When there’s no jobs, no food at the store, no meaningful money, bread lines and no hope it’s amazing the kinds of people citizens will listen to if they promise them food and jobs in exchange for an all powerful corporate government. People get so grateful to eat and work that they hardly notice the loss of their liberty, unless of course you happen to be in the group that the government has decided to make “the enemy.”  The world has always said that it couldn’t happen in America but don’t be fooled.  It can happen here: Indeed it is happening here, right now, as the government simply takes over everything without opposition.  The key to opening the door to Neo-fascism and economic hell is the destruction of the US Dollar: and the momentum to dump the dollar continues to gain strength daily in Europe, Russia and China.  At any moment, one or more of these nations could set off a selling spree of the dollar that would destroy it as a currency forever.  Our way of life, and capitalism, and our children’s future, hang in the balance while our politicians spend us into receivership, the Fed prints worthless dollars, and the person are parelized with uncertainty as Obama smiles and promises the moon while stealing all our money, in addition to the money of unborn generations.

Who is going to say no to the first Black President as he changes us from capitalism to socialism, or perhaps fascism, while the people face daily social and governmental changes of such staggering magnitude that most people simply can’t comprehend what’s going on. We, the formerly free people of the United States, may not be cognizant of the changes he’s making but that’s not the case with the rest of the world: and certainly not the case with the Chinese.

Keep watch for the fall of the US Dollar——- That’s when the post American world will begin in earnest.  We aren’t going to like living in it.

Consider this article from Bloomberg.com on the Chinese:

Dollar Falls Most in Month as China Urges New Reserve Currency

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By Oliver Biggadike and Ye Xie

June 27 (Bloomberg) — The dollar declined the most against the euro in a month and dropped versus the yen after China repeated its call for a new global currency.

The Swiss franc declined against the euro and dollar this week as foreign-exchange analysts said the central bank sold its currency three times to support the economy. The greenback fell against most of its major counterparts after the People’s Bank of China said yesterday the International Monetary Fund should manage more of members’ foreign-exchange reserves.

“The dollar’s status as a reserve currency is being questioned,” said Benedikt Germanier, a foreign-exchange strategist in Stamford, Connecticut at UBS AG, the second- largest currency trader. “There are reasons to sell the dollar.”

The U.S. currency fell 0.9 percent to $1.4056 per euro this week from $1.3937 on June 19, the swiftest depreciation since the five days ended May 29. The dollar fell 1.1 percent to 95.18 yen from 96.27, its third consecutive weekly drop. The euro decreased 0.3 percent to 133.85 yen from 134.18.

Federal Reserve policy makers said on June 24 inflation “will remain subdued for some time” and that the economy warrants an “extended period” of low rates.

The 10-year Treasury yield fell the most since March as investors bet the Fed will keep interest rates close to zero for the rest of the year. The difference in yield, or spread, between 2- and 10-year yields decreased this week to 2.43 percentage points, near the narrowest level since May 20.

Stronger Real

Brazil’s real gained 2 percent to 1.9363 versus the greenback, its biggest weekly increase in June, as the sale of shares in Visa Inc.’s local credit-card processing affiliate attracted foreign investors to the world’s biggest initial public offering in more than a year.

The dollar depreciated 2.6 percent to 7.8926 South African rand and 1.4 percent to 7.8002 Swedish krona as the People’s Bank of China said in its 2008 review there’s a need for a global reserve currency “delinked from sovereign nations.”

The Swiss franc declined against the euro and dollar as strategists said the Swiss National Bank sold its currency twice on June 24 and once more a day later to support the economy. Nicolas Haymoz, an SNB spokesman, declined to comment on June 25 on whether the bank acted in foreign-exchange markets.

‘Unwelcome’ Strength

“The SNB has to convince markets that it considers a strong franc as unwelcome,” Unicredit SpA analysts Armin Mekelburg in Munich and Roberto Mialich in Milan wrote in a report yesterday. “We fear that franc bulls will start further attempts to wipe out the line in the sand of 1.50.”

The franc fell 1 percent to 1.5230 against the euro and 0.2 percent to 1.0834 compared with the dollar this week. The Swiss currency declined on June 24 to 1.5380 versus the euro, the weakest level since the mid-March period when the SNB said it intervened to weaken the franc.

The ICE’s Dollar Index fell below 80 on the call from China for an alternative to the dollar as the world’s main reserve currency. The gauge tracking the greenback versus the currencies of six leading trading partners decreased 0.5 percent to 79.90.

“To prevent the deficiencies in the main reserve currency, there’s a need to create a new currency that’s delinked from the economies of the issuers,” the People’s Bank of China, or PBOC, said. China is the biggest foreign holder of U.S. Treasuries, with $763.5 billion in April.

Russia’s Stance

Russian Finance Minister Alexei Kudrin said on June 13 after the Group of Eight meeting in Italy that his country had full confidence in the dollar and that it’s “too early” to speak of alternative reserve currencies. Japan has “unshakable” trust in the strong-dollar policy of the U.S., Finance Minister Kaoru Yosano said in Tokyo yesterday.

China called on the U.S. to guarantee the safety of its assets in March, when Premier Wen Jiabao said the nation was “worried” about its holdings of Treasuries.

People’s Bank Governor Zhou Xiaochuan urged the IMF that month to expand the functions of its unit of account and move toward a “super-sovereign reserve currency.” Russian President Dmitry Medvedev proposed on June 5 that nations use a mix of regional reserve currencies to reduce reliance on the dollar.

“There may be signs here of tensions mounting between the PBOC’s economic concerns over China’s holdings of dollars and the Chinese government’s diplomatic reasons for doing so,” Stephen Gallo, head of market analysis at Schneider Foreign Exchange in London, wrote in an e-mail.

Venezuela’s bolivar plunged yesterday to a seven-week low in unregulated trading after the government said investors won’t be able to use a new $3 billion corporate bond offering to obtain dollars until 2011.

The bolivar fell 4.1 percent to 6.90 bolivars per dollar in the parallel market, traders said. The currency tumbled 20 percent this year in the unregulated market as the government pared dollar sales at the official exchange rate of 2.15 after oil, which accounts for 93 percent of the country’s exports, plunged from last year’s record high.

To contact the reporters on this story: Oliver Biggadike in New York at obiggadike@bloomberg.net; Ye Xie in New York at yxie6@bloomberg.net

Last Updated: June 27, 2009 08:00 EDT

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Neo Fascist Nations Like China Undermine the Worlds Economy: Using the Global Economy as a Weapon of War and Conquest

 

We’re all familiar with the effects of a nation like China attracting huge amounts of the worlds manufacturing business because they have no environmental laws, no real employment law or benefits so labor is dirt cheap.  Here in the USA it’s been called outsourcing and it’s a way of describing the loss of our manufacturing base to nations whose people are just cogs of a totalitarian government. No modern western democracy can compete with Chinese factories because with state control and totalitarianism they can, and do, beat Western manufacturing costs by a mile. 

They have millions of perpetually unemployed people, no expectation of meaningful health care, no concerns for controlling the pollution, and no labor strikes or decent labor wages by order of the all powerful state. Business and economic activity are but additional methods for the state to interact with other nations on the world stage.  This is the ruthless harnessing of an economy as a weapon of mass destruction and as a tool of both statecraft and war. Government control of the economy has given China enough dollars to possibly destroy the US Dollar at will, its gutted our manufacturing base and created dependency on foreign nations for our manufacturing, Its siphoned off tremendous wealth from consuming nations like ours to producing nations like china: who use the money to vastly modernize their military perhaps to US standards. 

We’re cutting military funding and the Chinese are in double digit increases every year.  They want to be our military rivals and with our money they’re on course to do just that!  With totalitarian state control they don’t care if they have the most polluted cities on earth they want the economic and military power to challenge the USA and all comers.  The West is in denyal about how willing China is to cover their own country with pollution if it gains them control of the world economy and makes them a military superpower.  No western nation would destroy its own land to pursue such a goal but the totalitarian government of China is doing exactly that. Outsourcing is a national security issue as much as an economic issue. 

Technological innovation and cyber advances were our ace in the whole but now the Chinese and the Russians lead the world in Cyber Warfare while the West seems still to underestimate how important it is to keep our advantages in these areas.  The Chinese have an ambitious space program and, along with the Indians, are planning to go to the moon while we retire our shuttles and hitch rides with the Russians if we want to go to the International Space Station.

Here is the cold truth of the matter:  If you don’t care about polluting your land, are willing to pay your people next to nothing, are willing to ruthlessly suppress labor rights and are willing to accommodate any nation’s needs to get their business, you can run circles around a democracy in the short term. Western Factory workers anticipate something of a middle class lifestyle, decent and safe working conditions, vacations, health care, advancement, disability compensation insurance and so on.  Chinese workers are happy to make enough to be marginally subsistent.  If a modern democratic economy tries to compete with a neo socialist totalitarian economy there is no way for the democracy to win because the playing field is fundamentally unequal.  There is no competition because in the west we want to employ people so they can have a life while in the east they want to employ people to undercut our economy, thereby growing their military and undermining our economy for the purpose of control.  A fundamentally unfair and inhumane policy of slave labor is used to destabilize capitalist democracies which then become dependent on the totalitarian regime and incrementally the democracy ceases to exist.  We’re not in a trade war with china: we’re in a very real economic war in which the winner will take all and the loser will serve the winner as if enemy troops concurred the land.

Consider this story from Reuters UK and ask yourself why trade with totalitarian regimes like China has resulted in the erosion of our standard of rather than the elevation to our level for Chinese workers. I we continue to play the game Chinese style we’re going to lose big time.

 

Democracy seen threatened by new authoritarianism

Thu Jun 4, 2009 2:18pm BST

By Paul Eckert

WASHINGTON (Reuters) – China, Iran, Russia and Venezuela form a clique of authoritarian states that use their wealth and influence to undermine global democracy and rule of law, a study by U.S.-funded agencies said on Thursday.

The report, released on the 20th anniversary of China’s suppression of the Tiananmen democracy movement, says these states’ challenge to Western democratic institutions represents a far “murkier picture” than the Cold War because they are integrated into the global economy and world bodies.

“Policymakers do not appear to appreciate the dangers these 21st century authoritarian models pose to democracy and rule of law around the world,” said the study by Freedom House, Radio Free Europe/Radio Liberty, and Radio Free Asia, all prominent U.S. democracy-promotion bodies.

“Just as they rule without law within their borders, authoritarian regimes are eroding the international rules and standards built up by the democratic world over the past several decades, threatening to export the instability and abuses that their systems engender,” it said.

The study said manufacturing and trading power China and petro-states Iran, Russia and Venezuela shared strong similarities despite their distinct political systems and backgrounds.

Authoritarian capitalist China and Russia have built systems that twin “impressive economic development with an equally impressive apparatus of political control,” it said.

CURBS ON OPPOSITION, MEDIA

Shiite Muslim clergy-ruled Iran and Venezuela, run by “a novel type of Latin American” strongman, held managed elections amid curbs on the opposition and on media, it said.

Ruling powers in the four states buttressed their control with tight restrictions on the Internet and media, promotion of nationalist versions of history in school textbooks and use of state wealth to serve their own interests, said the report.

Internationally, China has built a strong following in Africa and Latin America with generous no-strings-attached aid packages. Russia, Iran and Venezuela have used oil wealth to support regional clients, said the report.

“At the regional and international level, these authoritarian regimes are undercutting or crippling the democracy-promotion and human rights efforts of rules-based organizations,” it said.

Targets included the United Nations, the Organisation for Security and Cooperation in Europe (OSCE), and the Organisation of American States (OAS), added the report.

The report also included Pakistan because of its struggling democracy, history of military rule and growing extremist insurgency.

Democracies needed to stand against the authoritarian tide and do more to safeguard and promote democratic institutions, said the report, without spelling out suggested responses.

“As the world’s democracies have struggled to find a common approach to the problem, or even to agree that there is a problem, modern authoritarian states have worked diligently to spread their influence,” it said.

China Continues Navel Expansion: Building a Navy To Challenge the USA

 

 

The Bible says that in the last days the “Kings of the East” will wipe out about a third of mankind and pollute a third of the fresh water and land.  That’s a frightening prediction to be sure but what’s even more frightening is to see the Chinese build exactly the arsenal they would need to fulfill their role as “Kings of the East”.  The Chinese are pouring money in to military build ups and upgrades to their strategic nuclear forces in addition to pioneering many key elements of twenty-first century warfare including cyber, economic, and space warfare capabilities. China is going to have an aircraft carrier or three before you know it and they already have stealth submarines that can sneak up on US naval exercises undetected and surface in the middle of a task force to the consternation of our admirals and the shock of our ship captains.

At a time when Europe is still largely dependent on an American led NATO and we’re busy making cuts in our defense budget the Chinese are explosively building up their forces and becoming the innovators in cyber warfare.  Just the other week we discovered that most all of our major control grids like the electrical grids had been hacked and viruses implanted that could immobilize the grid at a time picked by an enemy for an attack.  All our banks have been similarly penetrated and presumably have cyber virus bombs that can be activated at the whim of an enemy.  The aircraft system, the pentagon is under constant attack as our politicians on Capitol Hill and I’m sure the major defense contractors.  There’s a cyber war going on right now that everyone know is the Chinese but it very difficult to prove.  We’re way behind their virus makers and just as Hitler introduced “Blitzkrieg” to the world we’re likely to be treated to new innovations in warfare at the onset of world war III that will include Cyber Attacks on our Critical Infrastructure as well as attacks on our economy via currency dumps and destruction of our satellites in space.

The Bible says that “The Kings of the East” will be able to field an army of some 200,000,000 people to invade the middle east when they embark on what sounds to me a giant oil grab to maintain fuel for their factory’s and burgeoning middle class.  Even now the Russians are trying to get everyone in the Middle East to join up with them and stand together as oil producing nations against the interests of the United States.  We just happen to have a whole bunch of troops in Iraq, Afghanistan, to say nothing of our bases in Turkey, Kuwait, and do we still have guys in Saudi Arabia?  I can’t remember.  Anyone want to bet that we don’t have troops in Saudi Arabia?

The Chinese are building a horrific array of military capabilities and killing technologies and if anyone things they won’t influence the game on the world state or eventually be used when the house of cards that is China collapses than I’ve got a bridge in Brooklyn to sell  you!  (Tax Free)

Consider this clip from Reuters and remember what the Bible says about the Kings of the East.

http://af.reuters.com/article/worldNews/idAFTRE53K11O20090421?sp=true

China displays resurgent naval strength

 

Tue Apr 21, 2009 6:49am GMT

 

By Ben Blanchard and Lucy Hornby

But the gathering of ships and submarines may be taken as a disquieting sign of Chinese assertion by other governments worried about sea boundary disputes and rivalry for resources.

Chinese commentators have speculated the government will use the celebrations to announce firmer plans to build an aircraft carrier, seen by many here as the badge of a mature naval power.

“Now our country’s economy has developed to this level, to protect national maritime rights and interests … we must have an aircraft carrier,” retired Chinese navy commander Shi Yunsheng, told Outlook Weekly, a Chinese current affairs magazine.

“The navy must continue developing in its current direction, expanding spending so that the navy corresponds to China’s status as a great power.”

David Lai, a researcher at the United States Army War College, wrote recently that the anti-pirate mission was a small step in “China’s march to become a fully-functional world power.”

“The real test will come when China has to defend interests not covered by the United Nations or is in conflict with the United States,” Lai wrote in the journal China Security.

Chinese boats last month tangled with a U.S. ship in the South China Sea, which Beijing claims as its exclusive economic zone, in a reminder of the risks behind Beijing’s increasing military assertiveness and self-confidence.

This year’s U.S. Defence Department annual report on Chinese military capabilities said China was making advances in denying outsiders access to offshore areas and was improving its nuclear, space and cyber warfare capabilities.

The United States has long complained that China’s increased military spending lacks transparency, charges Beijing denies.

In the run-up to the parade, senior Chinese naval officials have promoted the country’s ambitions on the seas. Admiral Wu has said China would accelerate development of warships, stealth submarines and long-range missiles.

 

Preparations for World War Three: Chinese Military Spending Gets another Massive Increase

 

In the last days the “Kings of the East” will, according to the Bible, kill about a third of mankind in the war of Armageddon and china, with its astonishing military buildup, has got to be the odds on favorite for being the Chief King of the East!  China has an amazing navy that managed to confound the American Navy when it surfaced an undetected submarine in the middle of our naval exercises; and now it’s profoundly upgrading its weapons of mass destruction. Chinese military might is growing exponentially and the proceeds of its economy is greatly focused on growing the military into something that can challenge the United States at every level.  China has developed and tested an astonishing cyberwarfare capability that’s clearly aimed at the United States; it’s developed an Anti-Satellite capability and a new space program as we retreat from the stars.  China is our chief creditor and can flood the world with dollars at will and destroy the economy of the USA and perhaps the planet at will: and yet the mainstream media remains unaware that this massive military buildup spells trouble for everyone down the road.

In the midst of the global recession/depression the Chinese are increasing military spending a whopping 15% as Obama tries to sell the Russians on a plan to reduce nuclear arsenals in both the Russian Federation and the United States by 80%.  We ignore the Chinese Military and Economic buildup at our peril because a day will come when China will either use its arsenal or trade its influence for global domination.  If China is indeed the King of the East than the instruments for the destruction of a third of humankind are being budgeted in the story below.  One can only hope President Obama can be troubled to take his mind of ramming “Universal Health Care and buying up the means of production long enough to consider what the Chinese are up to and nip this problem in the bud.  I’m not holding my breath, however.

 

The following story is from the Tellegraph.co.uk.  Here’s the URL:

http://www.telegraph.co.uk/news/worldnews/asia/china/4936931/China-to-increase-defence-spending-by-15-per-cent.html

 

China to increase defense spending by 15 per cent

China is to increase official military spending by almost 15 per cent this year as it seeks to upgrade its smart technology and improve the living standards of its soldiers.

 

By Richard Spencer in Beijing
Last Updated: 1:29PM GMT 04 Mar 2009

 

The 14.9 per cent rise to 480.7 billion yuan (£50 billion), up 62.5 billion yuan from 2008, was announced in advance of the annual meeting of the rubber-stamp parliament, the National People’s Congress.

It is slightly smaller than the increase in recent years, suggesting that the government is focusing its spending on boosting the wider economy.

But after rises of 17.8 per cent in 2007 and 17.6 per cent in 2008, it still amounts to a rise of more than half since 2006.

In addition, the United States claims that real spending is significantly higher, as many costs, including major arms purchases, are kept off the officially announced budget.

This claim was rejected by Li Zhaoxing, a former foreign minister acting as spokesman for the Congress.

He said that China had signed up to the United Nations code for reporting military expenditure in 2007.

“There is no such thing as the so-called hidden military expenditure in China,” he said.

He said that this year military spending would be 6.3 per cent of the total budget, and 1.4 per cent of GDP, compared to four per cent in the United States and two per cent in Britain and France.

China is known to be upgrading its nuclear arsenal and has all but confirmed plans to build its first aircraft carrier, but it is unclear whether these heavy cost loads are included in the budget.

Mr Li said a major part of the expenditure was to improve the historically poor living standards of foot-soldiers in the People’s Liberation Army. But he said money would also be spent on “informatisation” – the country has become fiercely aware in the last two decades of how far behind the United States it has fallen in “smart” technology.

The PLA also needed more money to play its share in reconstruction projects in the areas afflicted by the Sichuan earthquake in May last year, which killed at least 80,000 people.

The National People’s Congress opens on Thursday with a speech by the prime minister, Wen Jiabao. Mr Li confirmed that the duration of the NPC had been cut to just eight and a half days, and would end on March 13.

Reducing the length of time the parliament sits is one of a number of cost-cutting measures put in place by the government.

Delegates are also being banned from staying in five-star hotels, and their daily living expenses will be just 100 yuan – £10.

Power Play: Europe and Asia to Propose a Financial New World Order Less Americanized and Less Capitalistic

 

 

 

The Chinese press has issued a fairly blistering condemnation of the USA, holding us responsible for the financial crisis and contending that we have plundered the worlds wealth by the hegemony of the dollar. While it’s unquestioningly true that the dollar has been, and continues to be, the “reserve currency” for the world it’s quite unlikely that it will remain so for much longer.  First the Europeans are dead set on changing the world economic system to their liking and, to that end; they’ve been seeking allies in China.  European leaders like Sarkozy and even Merkel of Germany may have reached a meeting of the minds with China and hope to dominate the Washington discussions of a new global financial system. Clearly the worlds markets are in freefall at the moment, and the emerging markets are now close enough to default to scare the pants off their European Creditors.  A run on a bank can be dealt with but a run on countrys assets gets to be a bit sticky.  The Chinese are annoyed because as they have become an economic powerhouse it would seem that the worlds markets have come to something of a stop. The Chinese are all dressed up but have no place to go!  The Chinese have emerged as a powerhouse of production and manufacturing but everyone is broke and has no need of their products. 

 

While not the official position of the Chinese Government the following article, found on the front page of a Chinese paper, is telling because nothing happens by accident in china.  The paper points an accusatory finger at the USA and seems to be suggesting that the USA be defanged if not excluded from screwing up the new global financial markets that are expected to grow from this crisis.  I dare say the accusations are nothing new but if Senator Obama becomes President this Anti American philosophy will be familiar to Obama who will be the most left leaning person ever elected President in our history.  There is solidarity between the African American and Minority experience taught by colleges and the foreign policy they advocate.  Really it’s an extension:  White Male Christian Capitalists have exploited people of color and women to build a closed economic system that always favors white males at the expense of all others.  The same holds true on an international level; America has exploited the world with its economic power and needs to take a back seat in the world so that economic justice can have a chance.  This is essentially what the Chinese paper is saying and it’s essentially the doctrine of multiculturalism in a nut shell.  We’ve never had a President who was a true believer in it until about a week from now!  Check out this from Reuters and be sure to visit this URL for the full story.

 

U.S. has plundered world wealth with dollar: China paper

Fri Oct 24, 2008 6:14am EDT

BEIJING (Reuters) – The United States has plundered global wealth by exploiting the dollar’s dominance, and the world urgently needs other currencies to take its place, a leading Chinese state newspaper said on Friday.

The front-page commentary in the overseas edition of the People’s Daily said that Asian and European countries should banish the U.S. dollar from their direct trade relations for a start, relying only on their own currencies.

A meeting between Asian and European leaders, starting on Friday in Beijing, presented the perfect opportunity to begin building a new international financial order, the newspaper said.

The People’s Daily is the official newspaper of China’s ruling Communist Party. The Chinese-language overseas edition is a small circulation offshoot of the main paper.

Its pronouncements do not necessarily directly voice leadership views. But the commentary, as well as recent comments, amount to a growing chorus of Chinese disdain for Washington’s economic policies and global financial dominance in the wake of the credit crisis.

“The grim reality has led people, amidst the panic, to realize that the United States has used the U.S. dollar’s hegemony to plunder the world’s wealth,” said the commentator, Shi Jianxun, a professor at Shanghai’s Tongji University.

Shi, who has before been strident in his criticism of the U.S., said other countries had lost vast amounts of wealth because of the financial crisis, while Washington’s sole concern had been protecting its own interests.

“The U.S. dollar is losing people’s confidence. The world, acting democratically and lawfully through a global financial organization, urgently needs to change the international monetary system based on U.S. global economic leadership and U.S. dollar dominance,” he wrote.

 

European and Asian leaders have been meeting in preparation for the upcoming Washington Summit on the Economy this November and I suspect the Europeans and the Asians may have agreed on far more of how the financial world should work in the future than we might find to our tastes.  I won’t say that the Lame Duck President Bush will get steamrolled, as a lame duck there’s no need to steamroll Bush, and I don’t think President Elect Obama would disagree with, or stand in the way of, implementing a world consensus. 

Were John McCain elected I don’t think his economic team would be terribly receptive to the overtures about to be made by France and Germany and even China. It would be interesting to see how a possible McCain Presidency would play out amid the backdrop of this financial crisis but the odds of McCain winning seem to fade more each day.

Consider this from the Seattle Times:

Wen’s remarks were delivered at the close of the two-day Asia-Europe Meeting in Beijing, where leaders of 43 nations issued a statement calling for new rules to guide the global economy and on the International Monetary Fund to take a leading role to aid crisis-stricken countries.

While short on details, the statement calls on the IMF and similar institutions to help stabilize struggling banks and shore up flagging stock markets. “Leaders agreed that the IMF should play a critical role in assisting countries seriously affected by the crisis, upon their request,” it said.

They also agreed to “undertake effective and comprehensive reform of the international monetary and financial systems,” the statement said.

Participants said the statement would provide the basis of a joint Asian-European approach at a Nov. 15 summit on the crisis in Washington involving the world’s 20 largest economies.

The document is one of the strongest endorsements yet for the Washington-based IMF, long known as the international lender of last resort, to take a leading role in the crisis.

French President Nicolas Sarkozy said the Beijing summit had raised expectations for solid results at the Washington summit.

Beijing participants “have all expressed their willingness for the Washington summit to be a place where we make some decisions, and we have all understood that it would not be possible to simply meet and have a discussion, we need to turn it into a decision-making forum,” Sarkozy said.

German Chancellor Angela Merkel called for the IMF to become a “guard for the stability of the international finance system,” and said there was unanimous agreement that it needed to take on a supervisory role.

The IMF, whose loans normally include strict provisions, is discussing loan packages with close to a dozen countries from Iceland to Pakistan, and is examining ways to speed up the process.

The Armageddon Summary of September 15, 2008

 

 

When it rains it pours and right now it’s pouring over the entire United States of America. Consider the following facts as we confront them today:

·        The Stock Market lost over 500 points as the nation’s financial institutions pay for the subprime crisis and no end is in sight.  Our Economic Supremacy is the bases of our world leadership and even our military prowess.  The current financial crisis has the potential to remove us from superpower status overnight. It also has the potential to introduce a global currency or regulatory authority.

·        The Bible makes no clear mention of the USA in prophesy.  Biblical scholars have concluded that either we don’t exist or we’re part of the European New Roman Empire with Europe in the leading role and us in support prostitution.

·        The Russians have de facto control over the oil pipeline in Georgia that supplies Europe, friendly relations with Iran and a new military presence in the oil rich middle east and a potential naval base in the Persian Gulf, and is running naval exercises and parking a couple of nuclear capable Bear Bombers in Oil Rich Venezuela, in addition to claiming oil rich regions of the north pole.  

·        The United States is utterly dependant on Foreign Oil and our enemies can destroy our economy at will with any significant disruption of our oil supplies.  This has been clearly demonstrated by the recent oil crisis. The USA is still not drilling for new recourses and no action will be possible until after the election and maybe not then if Obama wins.

·        Russia is moving to reestablish the old soviet empire and intimidating former client states into re-assimilation while becoming increasingly hostile to the west in general and the USA in particular. The Bible suggest that Russia will get its empire back to fulfill its role in last days prophesy.

·        NATO was formed to keep the Russians in check and its badly splintered today by the diplomatic approach favored by Europe and the more hard line confrontational approach championed by the USA.

·        Iran’s quest for nuclear weapons is forcing an attack by Israel or the USA or both that could come at any day now because a nuclear Iran is an existential threat to Israel.

·        Israel has informed both Europe and America that they will attack unilaterally regardless of the outcome of elections and which party forms the new government. Most Israeli parties have signed off on the letter sent to the west.

·        The US dollar becomes more and more volatile and unstable.  Vast amounts of US Dollars are held by our enemies and they could potentially destroy our currency by selling them. Our central bank is persisting in rates much too low and that are bad for the value of the dollar.

·        Europe has the new Euro that gains in popularity and no one has a strangle hold on it.  Their central banks are defending against inflation. Europe is taking their medicine and we’re not.

·        The Chinese have embarked on a massive military buildup for years now and their gains in naval, space, and cyber warfare are very impressive.  They’ve developed an impressive ASAT capability and they have lots of troops and dollars and a booming economy.

·        The USA is badly over extended with a shrinking economy and the possibility that an enemy could flood the market with dollars and sink us without firing a shot.

Any way you slice it the USA is in a very fragile and precarious situation with multiple crises during the lame duck months of the outgoing Bush Administration and the ascendance of a likely Obama Administration.  John McCain has done well with his pick of Sarah Palin but this heightened financial crisis could give Obama the keys to the White House with less than two months to the election.  The plane truth is that we’re up to our eyebrows in alligators with no end in sight. 

A Whiff of Armageddon: Russia, China, Europe, America All Conforming to Prophesy

 

The world seems bent on dividing itself into teams for some future competition in a sport that no one dares contemplate.  Russia is extending olive branches to Syria and Iran, in addition to nuclear technology, even while it beats up Georgia for trying to join NATO.  Russia is threatening to turn the Middle East into a theatre for great power conflict and diplomacy even as it tries to reconstitute Soviet client states into a new Russian empire. 

NATO has proved itself to be quite worthless as a deterrent to the expansion minded Russians and its glory days are clearly behind it.  America and European NATO nations are forever at each other’s throat and the alliance has clearly outlived its usefulness.  The United States has stayed in NATO for too long and given too much blood and treasure to keep the spineless alliance alive in a day of real emerging threats. NATO has become a debating society between European and Americans rather than a credible fighting force.  I can’t help but believe the Russians look at NATO and smile because with the departure of the Soviet Union, the alliance has become fat lazy and utterly ineffective: no match for an emergent petro Russia flushed with cash and spoiling for a fight.  

In the “Last Days” the Bible seems to say that the Russians will lead a confederation of Islamic nations, including Iran, into an attack on Israel with a gigantic military force that will ultimately be defeated in grand style by supernatural intervention from above. The Bible gives the tribal names as they existed back in biblical times for the peoples involved, but by careful study of those names some interesting things emerge.  First, The Russia of the invasion (Gog) seems to have regained most if not all of the former Soviet States. That might have grave implications for the current Georgia crisis.  It may well be that the West is about to lose the conflict over Russia reacquiring the old Soviet Satellite states.   So too Russia is moving to reestablish soviet bases in Syria and even now is moving a mighty Aircraft Carrier Force, The  Admiral Kuznetsov, into the Middle East.  They’re establishing new defense agreements with Syria right now as a response to the condemnation they’ve received by invading Georgia.

Second, The NATO alliance that we know today is not the NATO of the future biblical times because Turkey is included in the Russian led coalition that will attack Israel.  Today Turkey is a member of NATO and has relations with Israel but the inclusion of Turkey, a secular Islamic country, in NATO has always been on the problematic side.  One can easily imagine a surge of fundamentalism in Turkey or a successful attack that defangs Iran by Israel as something that fundamentally changes and solidifies Islamic Nations and even drives them further into the Russian “sphere of influence.” Add to this the tremendous influx throughout Europe of unassimilated Moslems and a rising militant sentiment among their immigrants and the secular aspects of Turkey’s government may not be long for this world.  

In addition the bible makes clear that Israel will be at peace, with a guaranteed security agreement, when she is attacked by Russia and her neighbors to usher in Armageddon.  Clearly Israel is not at peace in 2008 and the prospects for such a peace seem to be very low, if not nonexistent.  The Bible repeats this condition that Israel will be at peace about three times for emphasis.  This doesn’t mean that bad things won’t happen and that war will be avoided between Israel and Iran at this time but it’s unlikely to be Armageddon.

I don’t think the conditions are right for the War of Armageddon as the bible describes it but I do think the coming conflict with Iran and Syria, the actions of Putin in Russia, the divisions in NATO,  the emergence of China and the economic conditions in America may well set the stage for Armageddon at some future point.  No one knows when Armageddon will occur but we can know the general season in which it’s going to occur and that season is looking a lot like our generation.

One can see the challenges for the American economy and the potential meltdown of the US Dollar and the economic devastation of America from all the debt we’re foolishly acquired.  Our good friends China and Saudi Arabia are major creditors of the USA and they could sink us without firing a shot by trashing our currency.  If the day should come when they don’t think we can make good on the debt and they sell off dollars, for whatever they can get, then America will no longer be a player on the world stage.  Internal strife will demand all our attention and the military budget will just have to suffer for awhile. Our energy dependence and addiction to spending has undermined our national security and it will be decades before we can end that situation, especially with a gridlocked congress.  Remember: The USA is not mentioned or implied as a player in the world of the last days.  This might mean we are a part of the European Alliance via some structure like NATO, or it may mean we’ve turned isolationist, or that some disaster befalls us either natural disaster, economic disaster, or what have you, that takes us out of world leadership. If I had to guess right now I would say the USA will be destroyed economically as a consequence of no one buying our debt anymore.

Europe has made great strides toward economic and political union but it needs to go much further in military union.  Frankly it needs an armed forces of Europe that is uniquely its own and it needs to stop relying on America and NATO because it’s looking increasingly like America can’t continue funding European defense.  The US is overcommitted and fiscally irresponsible and if the Europeans don’t take action to secure their own defense they risk coming under the Russian thumb, ironically, much like Georgia.  The Bible makes it clear that some form of the Roman Empire must rise again and it’s from Europe in the last days that the Antichrist will appear.  This leader will find solutions to gut wrenching problems in all areas of life from economic, to peace in the Middle East, and will consolidate control of the world’s economy and truly unify it.  He will create a currency that people can depend on but he will have lots of controls to weed out counterfeiting and illegal activities and even solve many security issues by biometric access to economic assets.  The world will trade many civil liberties for a stable economic system and the illusion of security and peace.  After the scare the Russians are giving us and the near certainty of an attack against Iran it might get a bit stressful in this old world!

The Russians are clearly about reconstituting the Soviet Empire and obtaining a strangle hold on the Earths most precious commodity: Oil. Russia is not entitled to takeover boarder states because it wants a buffer from the Western Democracies.  We don’t get to takeover Mexico as a buffer to Venezuela right?  This kind of thinking is what sank the world into two world wars, and Soviet Communism, for most of the Twentieth Century.  Russia is clearly in the wrong but it’s got lots of money, it’s got lots of oil, and lots of influence because Europe needs their oil.  It won’t take much for Russia to drive a wedge between Europe and America because the Europeans are only too happy to trade the former Soviet States, some of them fledgling democracies, for peace.  The Russian see the USA in the same position the Old Soviet Union was in before it died: We’re broke, we’re overextended, and our infrastructure and dependence on foreign oil makes us vulnerable to catastrophic change.  The Soviets had a dependency on foreign grain and food stuffs but dependency is dependency.

So what happens from here?  What’s the next big shoe to drop?  Assuming that we are indeed in the last days here is MY SPECULATION: NOT THE WORD OF THE BIBLE! 

I suspect that we’re going to face in America an economic event, a depression and currency collapse which will remove us from power and force Europe to become a military power in her own right and produce a leader that will deal with both the economic mess and world peace.  I think Israel will attack Iran, perhaps with our help, perhaps before the American Elections and certainly before the new President is sworn in.  I would further guess that the Russians will win the Georgia crisis and that they’ll successfully incorporate by force or coercion the client states of the Soviet Union. I would guess that the coming war in Iran will greatly tick off the Iranians and the Russians and the Syrians and that such a war could do great damage to the region precipitating the possible use of limited WMD’s.  Certainly there is an unfulfilled prophesies that Damascus will be wiped off the map and there are verses that suggest some sort of chemical or biological weapon will be used against Jerusalem in the last days.  Either way I think we may see the setting of the stage for the Biblical Predictions of Armageddon within a matter of years.

ONCE AGAIN THIS IS MY SPECULATION BASED ON MY UNDERSTANDING OF BIBLICAL PROPHESY. I  MAY WELL BE WRONG.  It does strike me as a plausible transition from the world of today to the world predicted by Ezekiel and John.  Interesting how the Bible can suggest such a plausible outcome to the events we’re witnessing right now, when you consider that it was written by lots of different authors between about 1440 BC. – 96 AD. Go figure!