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Fintan
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 Posted: Tue Oct 19, 2010 4:29 pm Post subject: |
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The NWO's London and Washington power centers
are now seeing China begin to extend it's leverage
against them. Things just heated up:
| Quote: | Currency dispute -- Sword of Damocles
dangling over China-U.S. economic ties
English.news.cn 2010-10-16 20:57:25
BEIJING, Oct. 16 (Xinhua) -- The U.S. Treasury Department announced Friday it would delay a report on whether China was manipulating its currency to gain trade advantages until after a G20 summit in South Korea next month.
Although Washington has not rushed to the wrong decision of labeling China as a currency manipulator so far, the currency dispute is like a Sword of Damocles dangling over China-U.S. economic and trade relations.
The ties can not develop in a normal way as long as the imminent and ever-present peril remains.
For years, the United States has repeated its claims that an undervalued Chinese yuan aggravates its trade deficit and its high domestic unemployment.
However, it has been proved by facts that such claims are groundless.
The yuan has appreciated 22 percent against the U.S. dollar since China reformed its currency exchange mechanism in July 2005. But the headaches of the U.S. economy still exist and some of them have even deteriorated.
Essentially, the so-called unbalanced trade between China and the United States is caused by the flawed fiscal policies of the U.S.
http://news.xinhuanet.com/english2010/indepth/2010-10/16/c_13560709.htm |
The above article on China's Xinhua media website a few days ago
was a warning that the "Sword" could very well fall if the U.S. pushes
China on the currency issue.
And just today we get to see
the "Sword" in action. Slash!!
| Quote: | China to Halt Exports to U.S. of Key Minerals
By KEITH BRADSHER - October 19, 2010
HONG KONG — China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of some of those same materials to the United States and Europe, three industry officials said on Tuesday.
The Chinese action, involving rare earth minerals that are crucial to manufacturing many advanced products, seems certain to further ratchet up already rising trade and currency tensions with the West. Until recently, China typically sought quick and quiet accommodations on trade issues. But the interruption in rare earth supplies is the latest sign from Beijing that Chinese officials are willing to use their growing economic muscle.
“The embargo is expanding” beyond Japan, said one of the three rare earth industry officials, all of whom insisted on anonymity for fear of business retaliation by Chinese authorities. They said Chinese customs officials imposed the broader shipment restrictions Monday morning, hours after a top Chinese official had summoned international news media Sunday night to denounce United States trade actions.
China mines 95 percent of the world’s rare earth elements, which have broad commercial and military applications, and are vital to the manufacture of diverse products including large wind turbines and guided missiles. Any curtailment of Chinese supplies of rare earths is likely to be greeted with alarm in Western capitals, particularly because Western companies are believed to keep much smaller stockpiles of rare earths than Japanese companies do.....
http://www.nytimes.com/2010/10/20/business/global/20rare.html?_r=2&hp |
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Big Boss
Joined: 04 May 2008
Posts: 556
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| Posted: Tue Oct 19, 2010 6:31 pm Post subject: |
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| Wow these 2 are duking it out, why don't the Chinese just find a nice way of letting the U.S public know that were all owned financially by a private bank and that the income tax is illegal lol....or is that too simple? |
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MichaelC
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Big Boss
Joined: 04 May 2008
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| Posted: Wed Oct 20, 2010 11:43 am Post subject: |
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| Probably an older photo they're using just for reference. |
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MichaelC
Joined: 06 Jul 2006
Posts: 1895
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| Posted: Thu Oct 21, 2010 4:07 am Post subject: |
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Another nail in the coffin of small to medium size businesses:
(But it's all in accordance with NWO plans!)
EU backs maternity leave on full pay
European Parliament votes for minimum 20 week maternity leave on full pay and two weeks on full pay for fathers
http://www.telegraph.co.uk/finance/yourbusiness/8076388/EU-backs-maternity-leave-on-full-pay.html |
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Fintan
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| Posted: Tue Oct 26, 2010 5:15 am Post subject: |
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Too Little and Too Late as Western banking
interests try to redeem the IMF by giving the
emergent economies more voting power:
| Quote: | G20: Europe Gives Up Some of Its IMF Voting Seats
Saturday, 23 Oct 2010 | 8:09 AM ET - Reuters
Fast-growing emerging economies will get more clout at the International Monetary Fund under a landmark agreement clinched on Saturday that reflects a shift in global power from industrial countries.
Under the deal, more than 6 percent of voting shares at the Fund will shift to dynamic developing countries such as China, which will become the third-biggest member of the 187-strong Washington-based lender.
Europe will give up two of the eight or nine seats it controls at any given time on the IMF's Executive Board, which will continue to have 24 members, according to a statement issued after a meeting of finance ministers from the Group of 20 leading economies....
China will leapfrog Germany, France and Britain in the Fund's power
rankings, with its quota share rising to 6.19 percent from 3.65 percent.
India will be in 8th spot, Russia in 9th and Brazil in 10th, according to the Russian finance ministry. Together, the four — known by the acronym BRICs — will have 14.18 percent of IMF quotas.
Emerging markets as a whole will have a 42.29 percent share, which the G20 said was likely to rise further following a comprehensive review of the quota formula due by January 2013.
"This does not complete the reform process," Russian Finance Minister Alexei Kudrin said. "The position of the emerging market countries is that this work should be continued." .......
http://www.cnbc.com/id/39807921 |
The emergent economies group simply don't
trust the IMF and though they are signed up,
they are bypassing the IMF where possible.
NWO Financial power continues to bleed.
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Fintan
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| Posted: Tue Oct 26, 2010 5:23 am Post subject: |
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The other NWO big gambit was to extend the G7
into the broader G20 in hope of being able to
retain global control via that mechanism.
Again, countries are signed up - but once again
they have bypassed G20 structures with private
bi-lateral trading and currency deals.
NWO GeoPolitical power continues to bleed.
| Quote: | The G20 is a complete waste of space
By Jeremy Warner - October 22nd, 2010
Malcolm Moore’s report from the G20 meeting of finance ministers in Gyeongju, South Korea, notes that there is growing scepticism that the G20 is a focused enough forum to iron out global economic problems.
You can say that again; the G20, hailed only a little while back as an institutional break-through that better reflects the growing geo-political and economic power of the developing world than the old G7, is fast turning out to be a complete waste of space.
As was always likely to be the case, it’s far too big even for meaningful dialogue, let alone agreed policy resolution. To be sure, it did have some validity at the start of the economic crisis, when nations were so shocked by the turn of events that they were more or less forced, out of self interest as it were, to act collectively. But the harmony of the crisis has now turned into predictable bickering, back biting and sometimes open hostilities as economies fight for share of still impaired global trade.
The truth of the matter is that trade and currency disputes are more effectively settled on a bilateral basis – many of these disputes are mainly bilateral anyway – or at least in smaller groups. Finance ministers from the advanced nations look back with nostalia to the once all powerful G7. The G7 was never a temple of harmony and understanding either, but these were at least occassions for honest and open talk at which there was some chance of progress, The hopeless shadow boxing and compromises of the G20 looks like little more than an excuse for junketing in foreign parts.
Virtually every player bar the home team arrives so jetlagged at these conventions that even if there was a chance of a breakthrough it would whither on the vine of collective fatigue. You can tell it’s midnight in Latin America, it is said, when the Mexican delegate doses off in a discussion about the tortilla riots.
Of course the big problem with the G7, which actually does still meet from time to time, is that it excludes a rather key player – China. And if China were allowed in, Brazil, Indian, and the rest would get all upset and you’d be back to square one. If it were not so tragic, it would be laughable.
The present G20 meeting of finance ministers is actually just a warm up for the main event next month, when twenty heads of state come together in Seoul to cure the world of all known diseases.
So what are the chances of France’s Nicolas Sarkozy, who takes over the G20 presidency at the summit, achieving the new Bretton Woods he aspires to? Close to zero by the look of it. Still, at least delegates can look forward to decent food and wine when the circus comes to Paris next year. Personally, I’m not a fan of Korean nosh and shan’t therefore be going to November’s bash. France, on the other hand, is a different matter altogether.
http://blogs.telegraph.co.uk/finance/jeremywarner/100008298/the-g20-is-a-complete-waste-of-space/ |
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Fintan
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| Posted: Tue Oct 26, 2010 5:33 am Post subject: |
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Compounding the NWO's woes, Jim Wilie says that a
dozen or more mega-wealthy individuals are forcing
a breakout in the gold price:
| Quote: |
The gold price will consolidate here, enough to enable the powerful
buyers in The Dirty Dozen to continue their huge relentless
purchases.
The group permitted a small pullback in order to grab a much greater volume in the next round of purchases. The $1300 target was met and surpassed. Support can be found at the juncture of the upper rail to the trend channel, meeting the new aggressive trendline from the breakout.
Never in 30 years has a breakout occurred with gradual stairstep pattern exhibited in my knowledge for any major price item over a full two month period. A message was made and heard, to break the market.....
FULL ARTICLE:
http://www.gold-eagle.com/editorials_08/willie102010.html |
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MichaelC
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Fintan
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| Posted: Fri Oct 29, 2010 6:49 pm Post subject: |
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| Quote: | Ben Bernanke & Adolf Hitler
by John Taylor, chairman and chief executive officer of
FX Concepts LLC, the world's largest currency hedge fund.
Currently, the US Fed has anticipated the economic slowdown resulting from the withdrawal of the fiscal stimulus by trumpeting its new round of quantitative easing. The expectation of this dollar-creating process is resulting in a very weak dollar.
After the Republican victory things will change. The Fed will be hamstrung, as Ron Paul, a conservative standard-bearer and harsh critic of the Fed, will head the sub-committee overseeing its actions. Liquidity expansion or new programs will probably drop sharply under his watch. Paul would argue that the Fed’s unfettered ability to “debase” the currency is about to come to an end. The leading indicators call for a US recession next year – and Bernanke is acting as though he believes this – but with the Republican dominance, fiscal and monetary support will not be quickly supplied, which implies a stronger dollar....... |
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MichaelC
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| Posted: Sat Oct 30, 2010 4:54 am Post subject: |
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It is my opinion that the Fed has been buying the vast majority of US govt debt for several years now.
That is the reason that interest rates have been held down below what they should be. |
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Fintan
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| Posted: Sun Oct 31, 2010 10:19 am Post subject: |
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| Quote: | Gold Will Outlive Dollar Once Slaughter Comes
By John Hathaway - Oct 29, 2010 2:00 AM GMT
The world’s monetary system is in the process of melting down. We have entered the endgame for the dollar as the dominant reserve currency, but most investors and policy makers are unaware of the implications.
The only questions are how long the denouement of the dollar reserve system will last, and how much more damage will be inflicted by new rounds of quantitative easing or more radical monetary measures to prop up the system.
Whether prolonged or sudden, the transition to a stable monetary system will become possible only when the shortcomings of the status quo become unbearable. Such a transition is, by definition, nonlinear. So central-bank soothsaying based on the extrapolation of historical data and the repetition of conventional wisdom offers no guidance on what lies ahead.
It’s amazing that there is no intelligent discourse among policy leaders on the subject of monetary rot and its implications for the future economic and political landscape. Until there is fundamental monetary reform on an international scale, most economic forecasts aren’t worth the paper on which they are written.
Telltale signs of future trouble aren’t hard to spot. Only a few months ago, Federal Reserve Chairman Ben Bernanke and a chorus of other high-ranking Fed officials were talking about exit strategies from the U.S. central bank’s bloated balance sheet and the financial system’s unprecedented excess liquidity. Now, those same officials are talking about pumping more money into the system to stimulate growth.
Risky Targets
And they’re not alone: Six months ago, the chief economist of the International Monetary Fund, Olivier Blanchard, suggested that raising inflation targets to 4 percent from 2 percent wouldn’t be too risky.
This sort of talk must grate on the nerves of our trading partners, China, India, Russia and others, who have accumulated pyramids of non-yielding Treasury debt. No haven there. Return- free risk may be a better way to put it. And bickering among central bankers over currency manipulation and rising trade tensions doesn’t exactly reinforce one’s confidence in a scenario of sustained economic growth and a return to prosperity.
The prospects for an orderly unwinding of the extreme posture of global monetary policy are zero. Bernanke, Jean- Claude Trichet and Mervyn King, his counterparts in Europe and the U.K. respectively, are huddling en masse upon the most precarious perch in the history of monetary affairs. These alleged guardians of monetary stability, in their attempts to shore up the system, have simply created the incinerator for paper money. We are past the point of no return. Quantitative easing may well become a way of life.
No Freak Occurrence
The consensus investment view seems to be that the credit crisis of 2008 was a freak occurrence, unlikely to repeat. That is wishful thinking. Monetary policy has painted itself into a corner. Based on our present course, there will be more bubbles and more meltdowns.
Financial markets and institutions sense trouble, as reflected in the flight to supposedly safe assets such as Treasuries and corporate-debt instruments with paltry yields, as well as the reluctance to lend by commercial banks. We are stuck in an epic liquidity trap. The irony is, if global central banks succeed in creating inflation, the value of these safe assets will be destroyed. It is a slaughter waiting to happen.
In the pedantic mentality of central bankers, their playbook creates just the right amount of inflation. As inflation accelerates, consumers will spend to get rid of their dollars of diminishing value and spur the economy. Once consumers start spending, it will be time to raise interest rates because a solid foundation for prosperity will have been established, they say.
Slender Thread
But whatever the playbook promises, the capacity of financial markets to overshoot can’t be overestimated. The belief among policy makers and financial markets in the possibility of this sort of fine-tuning is preposterous, but it is the slender thread on which remaining investment and business confidence rests.
The breakdown of the monetary system will be chaotic. When inflation commences, it will be highly disruptive. The damage to fixed-income assets will seem instantaneous. Foreign-exchange markets will become dysfunctional. The economy will become even more fragile and unpredictable.
Gold is an imperfect, but comparatively reliable, market gauge for the extent of current and future monetary destruction. The recent acceleration in the dollar price of the metal to $1,381, a record high in nominal terms, coincided with talk of a new round of quantitative easing and highly visible discord among major nations on trade and currency-valuation issues.
Naysayers’ Bubble
Naysayers point to gold’s price and see a bubble, without understanding that the only acceleration that is taking place is in the rate of decline of paper currency. The Fed is organizing an attack on the dollar’s value, believing that this is the most expedient way to defuse deflationary market forces. The man in the street is unaware, a perfect setup. Inflation can only be successful when the public doesn’t see it coming.
The sudden torrent of commentary on gold isn’t the sign of a bubble. Anti-gold pundits provide a great service to those who grasp this historical moment: They facilitate the advantageous positioning of the one asset most likely to be left standing when the dust settles.
(John Hathaway is a managing director of Tocqueville Asset Management LP in New York. The opinions expressed are his own.)
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Fintan
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| Posted: Sun Oct 31, 2010 10:23 am Post subject: |
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| Quote: | Marc Faber, publisher of the Gloom, Boom & Doom report,
discusses the potential impact of further quantitative easing
(QE2) by the U.S. Federal Reserve
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MichaelC
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| Posted: Sun Oct 31, 2010 3:10 pm Post subject: |
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If memory serves me correctly, gold was $100/oz when it first started trading 'legally' on the Chicago Board of Trade in 1973. Today is it $1357/oz.
Thus it has increased at an average annual compounded rate of 7.37% during these 37 years.
And that 7.37% is very close to the average annual inflation rate in the USA over the same period.
So it keeps up with inflation and nothing more. |
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hawkwind
Joined: 19 Jan 2006
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| Posted: Sun Oct 31, 2010 5:51 pm Post subject: |
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| MichaelC wrote: | If memory serves me correctly, gold was $100/oz when it first started trading 'legally' on the Chicago Board of Trade in 1973. Today is it $1357/oz.
Thus it has increased at an average annual compounded rate of 7.37% during these 37 years.
And that 7.37% is very close to the average annual inflation rate in the USA over the same period.
So it keeps up with inflation and nothing more. |
And your point is? How about something more on topic for today ....
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