Russia and China have been signaling for months that they were concerned about the dollar as the reserve currency and our government’s level of debt, but now they think they should have some say in our internal monetary policy. Considering how far down the globalists’ garden path we have been led, they might just get their wish soon.
(Reuters) – Russia sided with China ahead of the Group of 20 summit, saying on Monday the United States should consult other countries before pumping cash into its economy, but stopped short of calling the policy a mistake.
President Dmitry Medvedev will take part in the summit, where conflict is brewing over the U.S. Federal Reserve’s latest allocation of $600 billion to buy Treasury bonds — money that investors are likely to redirect into emerging markets in search of higher returns, potentially fuelling new asset bubbles.
“Russia’s President (Dmitry Medvedev) will insist …. that such actions are taken with preliminary consultations with other members of (the Group of 20 countries),” said Russian G20 negotiator Arkady Dvorkovich.
China has been particularly vocal in criticism of the policy, which U.S. President Barack Obama defended on Monday during a trip to India, saying the Fed’s mandate to grow the U.S. economy was good for the world as a whole.
Dvorkovich said that the Fed’s policy was an internal matter but added that previous decisions by the G20 require consultations on such issues. He said the Fed’s move may even benefit Russia because its current capital inflows were too small.
This is what happens when a country, insanely, allows a central bank to run their economy and dictate monetary policy, AND THEN that private banking cartel joins the rest of the central banks around the world (Bank Of International Settlements, World Bank, IMF). The steady, progressive march toward the loss of American sovereignty.
Remember, the Board of Governors of the Federal Reserve cannot be impeached, the Federal Reserve doesn’t EVER open it’s books, and they can set monetary policy without so much as a ‘by your leave’ from the president or Congress. Do you want the G20 guiding the Federal Reserve, an unelected body, on what America’s monetary policy is? I’m really looking forward to that after the rape and pillage done by Wall Street, aren’t you?
I personally am enjoying watching Ben Bernanke pull an ‘Obama’ by so far overreaching with QE2 that it will force Americans to LOOK at the Federal Reserve the same way we have been looking at the Dems and Pubs, and hopefully ignite the momentum to abolish the Fed and have a constitutional amendment passed forbidding central banks from operating in this country.
As Ron Paul stated this morning: ‘Fed Will ‘Self Destruct’ as Easing Kills the Dollar’. We can only hope and pray that these leeches will be removed from office, charged, prosecuted and incarcerated. Bennie and InkJets first.
This week, millions of Americans went to the polls to vote. They went to vote for candidates who said they were going to cut taxes, raise taxes, or keep taxes the same. But they went to make their voice heard, meanwhile, Ben Bernanke and his banking friends raised taxes on the entire world. And they did not have to go to Congress, they did not have to debate with the Obama administration or whether they were going to extend or phase out the Bush tax cuts. Instead of Americans debating about what party is going to be in power, we should be debating about whether or not we are going to phase out the Federal Reserve System completely.
QE2 The Last Gasp of a Monetary System: A Message to the World
Glenn finally steps up to the plate and starts talking about the ‘global governance’ strategy that surrounds us, and which has been in the making for decades.
Glenn has Amb. John Bolton, Stuart Varney, and my personal favorite brit, Daniel Hannan on the program today talking about the global governance issue. Please pay attention at about the 3/4 show mark, when Daniel Hannan speaks about The Federal Reserve and how it has created the situation we now find ourselves in. For more information about The Fed, please read this article and ‘The Fed’ page at the top of the blog. My educational goals include helping people understand that we, as Americans, DO NOT NEED to pay the private banking cartel $396 BILLION in interest every year on our own money. Nor do we need to turn our sovereignty over to the United Nations through Agenda 21, or give all our economic strength away to the Bank of International Settlements in Switzerland. It does not have to be – but you MUST vote for Constitutionalists in November and every single election from here on out.
America? Are you ready to be done and take a backseat?
A daily dose of realism from Inflation.us; China dumping American T-bills, the Fed’s predictions for slower recovery requiring more stimulus and more monetization of the debt, foreclosures, etc. Keep in mind that the entire stated purpose of the Federal Reserve System is to set monetary policy to ensure economic stability. The same formula as the United Nations’ Charter is to establish an end to war and genocide…and both organizations were brought to you by the same progressives.
After fending off most challenges to its independence and winning new powers to oversee big financial firms, the Federal Reserve has emerged from a bruising debate on the overhaul of U.S. financial rules as perhaps the pre-eminent regulator in the sector. But that could only bring it added blame if things go wrong again.
Instead, the new law gives the Fed more power and a better tool box to help prevent financial crises. It will become the primary regulator for large, complex financial firms of all kinds, such as American International Group, the insurer which built a massive derivatives portfolio that regulators didn’t see until it was too late.
This isn’t the first time Congress has expanded the Fed’s role. After the Great Depression, it passed the Employment Act in 1946, charging the Fed with averting the huge unemployment seen in the 1930s. After the double-digit inflation of the 1970s, the Fed was formally given a dual mandate of promoting both price stability and maximum sustainable employment. In the wake of the latest financial crisis, the Fed is effectively being told to add the maintenance of financial stability to its responsibilities.
China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.
Dagong Global Credit Rating Coused its first foray into sovereign debt to paint a revolutionary picture of creditworthiness around the world, giving much greater weight to “wealth creating capacity” and foreign reserves than Fitch, Standard & Poor’s, or Moody’s.
The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
Meanwhile,China rises to AA+ with Germany, the Netherlands and Canada, reflecting its €2.4 trillion (£2 trillion) reserves and a blistering growth rate of 8pc to 10pc a year.
Dominique Strauss-Kahn, chief of the International Monetary Fund, agreed on Monday that the rising East is a transforming global force. “Asia’s time has come,” he said.
The IMF expects Asia to grow by 7.7pc in 2010, vastly outpacing the eurozone at 1pc and the US at 3.3pc. Emerging nations hold 75pc of the world’s $8.4 trillion (£5.6 trillion) of reserves.
For more about “Socialist Party of France” member, Dominique Stauss-Kahn, hit this link.
July 17 (Bloomberg) — The dollar fell the most against the euro in 14 months and dropped to the lowest level this year versus the yen as economic reports added to evidence that the U.S. recovery is losing momentum.
The greenback touched a level weaker than $1.30 versus the shared currency as minutes of the Federal Reserve meeting last month indicated policy makers trimmed their forecasts for growth. The euro rallied for a third straight week against the dollar before partial results of stress tests on the region’s banking system due on July 23.
“It’s really dollar weakness based on some evidence the economy is slowing,” said Vassili Serebriakov, a currency strategist at Wells Fargo & Co. in New York. “The economic indicators are pointing strongly toward slower growth in the second half of the year.”
Fed Minutes
Minutes of the Fed’s June meeting indicated that U.S. central bankers were concerned about lingering high unemployment and risks that inflation could decelerate further. If the outlook worsened, the Federal Open Market Committee would need to consider whether additional stimulus was appropriate, the minutes said.
For those that are interested in the Federal Open Market Committee (that’s a joke) Meeting minutes of June 22-23, 2010, go here.
There is a loophole in the latest UN draft resolution prohibiting Iran from obtaining deadly weaponry. It appears that the US is making deals behind the scenes with China and Russia to get ‘something’ passed and it would allow Iran to purchase Russian ground-to-air missiles, among other weapons which could be used against Israel and our own troops.
I personally don’t believe in the anti-Christ or the devil, but at some point somebody is going to have to ground this teenager and stop him from setting the entire world on fire. Putting aside the fact that we believe Barry isn’t Constitutionally eligible to be president and the fact that he is trying to completely dismantle America as a free republic, is he or is he not the president of all the states? Does not the Constitution state:
Article IV, Section. 4. The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened), against domestic Violence.
Is Obama’s unwillingness to protect Arizona from an invasion of illegal immigrants not grounds for impeachment? Are the congressional democrats that stood and applauded a foreign dignitary verbally abusing a State in the Union not enough grounds for impeachment of those criminals in congress?
Are we going to allow the Obama Administration teenagers partying in their parents’ house to decide what happens in the Middle East with nuclear weapons? AYFKM? Is there not one statesman left in our Legislative Branch that will put a stop to this dangerous charade known as the Obama Presidency? Thaddeus McCotter, Jim DeMint, Paul Ryan, Ron Paul; are you listening?
A year ago, while Obama was still being bathed in his glorious Messiah glow, the idea of impeachment proceedings being called in the democrat controlled House was a pipe-dream. Now the only question is whether we make it to November without a major incident.
“As a possible last minute, deal sweetener, the US dropped sanctions against Russian’s arms dealers doing illicit business with Syria as well as Iran.”
TEL AVIV — China, Iran and North Korea have established a strategic alliance that focuses on missile and nuclear development, according to a new report.
The report said that Beijing, Pyongyang and Teheran were helping each other in missile and nuclear programs. The report, titled “China, Iran and North Korea: A Triangular Strategic Alliance,” by Israel’s GLORIA Center said China and North Korea were the key suppliers of Scud-based ballistic missiles to Iran’s military, the target of Western sanctions.
“This flurry of activities underscored the growing proliferation threats posed by DPRK [North Korea] assistance to Iran’s missile capabilities, which has also led to collaboration in the nuclear realm,” the report, published in the Middle East Review of International Affairs, said.
The report from Middle East Review Of International Affairs:
While the international community is facing a nuclear stalemate with Iran and North Korea, China is increasingly emerging as a Great Wall in blocking the path towards sanctions and peaceful resolution of the Iranian nuclear crisis and denuclearizaton of the Korean Peninsula. While much recent literature has been written on the deleterious effects of a regional nuclear arms race should Iran become a nuclear power, there has been relatively little effort to explore why China persistently defends Iran by blocking or watering down UNSC sanctions and on the strategic partnership between Iran and North Korea in missile and nuclear collaboration. This paper explores the triangular strategic alliance between China, Iran, and North Korea and the attendant negative spill-over that poses a threat to East Asia and Middle East regional stability.
Introduction: Iran in China’s Strategic Calculus
There is a paucity of research on Sino-Iran relations in the international security literature, yet this relationship has important implications for East Asia and Middle East regional security. Historically, Sino-Iran relations span back thousands of years, and their modern partnership began in the 1970s, first with the Shah and then continuing with the Islamic Republic of Iran. The Sino-Soviet split in the 1960s, coupled with the Shah’s fear of Soviet misadventures in Iran and the Gulf, paved way for Sino-Iran rapprochement. This was further reinforced by their shared sense of history as great ancient empires that were humiliated by the West.[1] From 1858 to 1860, Russia seized large swaths of Siberia from China, while throughout the 1800s, European powers carved up China and Iran.[2] Currently, on a pragmatic level, China is paving a new energy silk road with Iran to meet its energy security-driven foreign policy goals and to hedge against U.S. domination over their energy supply in the Persian Gulf.
China’s Persian Gulf Strategy
In 1993, China became a net importer of oil and is now the second biggest energy consumer in the world, after the United States. However, China’s peer competitor, the United States, with its formidable naval power, controls sea lanes of communications (SLOC) for oil supplies that may be cut off over a potential Taiwan clash. As such, in 2000 a Chinese article in the influential Strategy and Management Journal recommended that China’s strategy in the Persian Gulf should be to align with Iran.[3] In the article, the author posits that since the United States already controls the west bank of the oil-rich Persian Gulf via its pro-American proxies (e.g., Saudi Arabia and the smaller Gulf states), the Gulf is in effect an “internal sea” for the United States, and challenges to that position are likely to fail. However, if China and Russia expand relations with Iran, they could maintain a “minimum balance” to thwart U.S. moves. Since securing oil imports from the Gulf requires both the U.S.-controlled west bank and the China/Russia-supported Iranian east bank, this axis would block U.S. efforts to impose oil embargoes against other countries. Should the United States and China ever have a military clash over Taiwan, the United States would not shut off China’s Gulf oil supplies since China, Russia, and Iran control the Gulf’s east bank.[4] Indeed, in 2001, China followed this strategic vision and formed the Shanghai Cooperation Organization (SCO) with a Sino-Russia-Iran axis to counterbalance perceived U.S. hegemony.[5]
Hit the link above to read the rest of this detailed article.
The Dalai Lama and U.S president Barack Obama met for the first time at the White House today, defying furious protests from China.
The two Nobel Peace Prize winners seemed intent on keeping the meeting low-key, in order avoid worsening tensions between the two countries.
The Tibetan spiritual leader, who was also denied a meeting in the Oval office, left via a side entrance where rubbish bags were piled up and The White House didn’t release photos of the meeting until several hours afterwards.
Bambi is once again trying to have his cake and eat it too. Meet the Dalai Lama to raise his human rights stature, but not piss off the Chinese too much…
