It is amusing to see economists and Western leaders whine about not being able to control China via IMF debts. They can’t control China because China is a huge sovereign wealth country with great powers. I see articles snickering about how weak China really is but when I look at the REAL news, I see a quite different story! We are deep in debt and discharging this via bankruptcy will kill our own allies a lot faster than it will hurt China. They will be destroyed, not China. China expects us to default. Our allies don’t expect this.
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ΩΩStop the presses! Big news! HAHAHA: China Uses Global Trade Rules to Its Advantage – NYTimes.com
With China’s exports soaring, even as other major economies struggle to recover from the recession, evidence is mounting that Beijing is skillfully using (quite legal) inconsistencies in international trade rules to spur its own economy at the expense of others, including the United States….
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The entire premise of both the US and UK boasting about how these countries are ‘innovative’ is due to our gnome community working day and night to find glitches, errors, new interpretations and voids in regulations and laws so they can eke out profits. That is, doing goofy things that are quasi-legal or are broken so they can enrich themselves: this is modern finance!
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This is also why modern finance collapsed. Modern finance was born the hour Nixon and Burns killed the gold peg to the dollar. The floating fiat currency regime opened the door wide to all sorts of currency and financial manipulations which have grown bigger and bigger ever since 1971. It is a MEGA BUBBLE that has funded global credit markets. We are still in the biggest global credit bubble ever created.
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…China vigorously defends its economic policies. On Sunday, Premier Wen Jiabao criticized international pressure on China to let the currency appreciate, calling it “finger pointing.” He said that the renminbi, China’s currency, would be kept “basically stable.”
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He is correct. The US is not pointing any fingers at Japan. The US pretends to be fair and balanced but isn’t. And we can’t fix what is wrong with China unless we fix what is wrong with our trade relations with Japan!
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To maximize its advantage, Beijing is exploiting a fundamental difference between two major international bodies: the World Trade Organization, which wields strict, enforceable penalties for countries that impede trade, and the International Monetary Fund, which acts as a kind of watchdog for global economic policy but has no power over countries like China that do not borrow money from it.
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HAHAHA! The IMF is the chain that keeps nations enslaved! China is a CREDITOR nation and the IMF has been forced to go to China, hat in hand, to borrow money which it then lent to other nations. The US gives the IMF money, too. But this money isn’t real money, it is money borrowed from Japan and China!
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China has increasing power over the IMF but not the votes. The US still rules the roost there but only just barely. China WILL kick us out of the IMF controlling body and force us into borrowing Chinese capital via the IMF and then we will be unable to lend ourselves money. Right now, we can do as we please thanks to the dollar still being the basis for settling most international trade like trade in commodities such as oil.
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China buys dollars and other foreign currencies — worth several hundred billion dollars a year — by selling more of its own currency, which then depresses its value. That intervention helped Chinese exports to surge 46 percent in February compared with a year earlier.
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HAHAHA…and pray tell, which trade partner of the US first discovered how to do this and how to ravage US domestic markets via a weak currency? Japan, of course! And does this bother the US?
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Nope. For some reason I cannot fathom, it is OK for Japan to do this ruthlessly. I suspect this is because of reflexive thinking: Japan is supposed to be our very best buddy in Asia. Japan is the bulwark against China and Russia. Therefore, it is OK for Japan to totally destroy our native industries and completely dominate our economy. HAHAHA. And this bizarre belief system is at the root of our trade difficulties. And we can’t fix this due to our belief that it is good for Japan to destroy our economy. Because it protects us from China. Only it doesn’t.
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Many prominent academic economists see a basic contradiction in the global system of oversight on trade and currency.“Many of us would like to see the W.T.O.-style commitments — with people’s feet being held to the fire — at other international agencies, like the I.M.F.,” said Jagdish Bhagwati, a Columbia University economist.
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ΩΩAnd who is going to hold creditor nation China’s feet to the IMF/WTO fire? Japan? HAHAHA. The US can only muster the energy of all other trading countries to attack China only if we also promise to keep our doors wide open so they can continue to ravage the US. This is a ridiculous solution since we will still die, just slightly later than the Chinese 50 Year Plan’s day of doom.
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ΩΩThe economists of various US universities love to talk about power politics and think that manipulating the floating fiat currency will make the US stronger. IT WILL NOT. We can’t manipulate our own currency because we lost control of it when half of our debt and half of our currency is held outside of the country. We have no native control of either. We can only restrict trade and restrict the creation of our currency and there are various ways of doing this: balancing the US government spending to match taxes and tariffs on foreign trade goods and services.
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ΩΩOf course, the US must do both as soon as possible. But has been paralyzed by greed and fear. We love the present system that allows us to buy foreign goods while producing very little in trade compared to the volume of foreign goods. This is immense fun when the currency stays strong despite the red ink. It is magical. All we do is issue dollars and instead of causing inflation, the dollars get stronger and stronger thanks to trade rivals holding these in FOREX accounts where the dollars don’t circulate.
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ΩΩNow, the US is whining that this is making China’s industrial base bigger! HAHAHA. Duh! It worked just fine for Japan. Japan has a long depression due to a relentless focus on ZIRP lending, exports and restricting wages inside Japan. Fewer Japanese own cars today than 20 years ago. They no longer bother buying houses or even having families. This is a bad solution but the US solution which is to strip workers of wages while running trade deficits, is even worse in the long run. The US and UK now have equal or more out of wedlock births than married couples with children and this shows similar social destruction which troubles Japan.
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ΩΩIn the bitter end, all economies are all about families. No nation can operate for long using shattered families with little social connections as its basis. Eventually, the family has to be protected and nurtured, not ruthlessly exploited. No civilization operates on the basis of no social cohesion.
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Greece’s Weakness Is Its Strength – BusinessWeek
Greece’s very weakness lends it strength, because when your back is already to the wall, you can’t be pushed any further. Every televised riot and bonfire in Athens strengthens Papandreou’s argument that Greece can’t handle any more austerity without a breakdown of society. As a result, other European nations that fear a Greek default have concluded that they must take more responsibility for preventing it from happening. “Papandreou has a game plan,” says Simon Johnson, an economist at Massachusetts Institute of Technology who observed his share of gamesmanship as a former chief economist of the International Monetary Fund. “He is doing this very well.”…
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I suspect one reason the Founding Fathers stuck their capital in a place no one wanted to live (a swamp) was to keep the mobs at bay. This way, the elites could rule with some serenity. No one can come pounding on the gates of Congress or the White House.
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During the Vietnam War, we did storm DC and surrounded the Pentagon. We often have huge demonstrations, I have done this myself, but these are nearly always done on weekends after our elected but non-responsive people have departed and don’t have to see what is going on. The recent Tea Party guys got lots of press because they are conservatives and thus, not scary.
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But the recent rash of right wing terrorist attacks has scared DC’s political class and they are anxious to protect themselves but not anxious to serve the American people. Instead, it is still full speed ahead with free trade, replacing US computer experts with Indian ones, etc. Not to mention, AIPAC today warned Obama to fight Zionist control of our government. The annual AIPAC kiss and crawl fest for our ‘elected’ leaders is next week and you can bet, they will be bitch slapped until red in the face.
. ….Papandreou’s frequent hints that he might seek assistance from the IMF if he can’t get what he needs from Europe can be seen as an attempt to make his BATNA (bargaining position) appear stronger, says Zacharias Maniadis, a Greek economist at Bocconi University in Milan. Europe, especially Germany, wants to solve the Greek crisis without IMF interference.
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HAHAHA… do note how, in the previous article, the writer whines that China doesn’t owe a penny to the IMF. Here, this other writer notes that Greece is angering Germany by suggesting they will go to the IMF for funds! Now, why does Germany fear the IMF getting involved?
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HAHAHA….it should be obvious that the problem here is the euro. It is now the strongest currency on earth and is displacing the dollar bit by bit due to the fact that Europe’s GDP is now bigger than the US. Germany has to deal with all the PIIGS which are in deep financial trouble because this keeps German control of the euro. Germany does NOT want the euro to travel into other holding accounts like the way the dollar has done.
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Of course, in diplomacy, as in threatening to turn the car around on your squabbling kids, a gambit is only effective if it’s believable. The other Europeans could call Papandreou’s bluff by telling him to go ahead and ask the IMF for help.
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ΩΩNow for some news about Japan and the Bank of New York which is the shadow Federal Reserve. Unlike many other countries where the seat of power is also the economic locus of international finance, the US put its capital far from the place where raw power is exercised: NYC. Here is a story about the murky and secret financial actions of the NY Fed:
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Japan Acknowledges Kept Secret Deposit With The Fed
Japanese Finance Minister Naoto Kan said Friday the ministry’s recent investigation into a 1969 bilateral accord confirmed that the financial settlement Japan made with the U.S. to end its occupation of Okinawa was larger and more complex than previously acknowledged and included a secret non-interest deposit the government and the Bank of Japan kept at the Federal Reserve Bank of New York.
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The deposit totaled $103 million during much of its life before the two nations agreed to lower it to an unsubstantial sum of $3 million in 1999. The deposit was counted as part of Japan’s official foreign reserves and consisted of dollars the Japanese government received from the Okinawans in exchange for yen in 1972 when the U.S. ended its post-war occupation of the southern Japanese island. The non-interest deposit amounted to a de-facto financial payment, as the U.S. was free to manage the money to generate returns. U.S. embassy press officers couldn’t be reached for comment.
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ΩΩThe NY Fed also has very secretive vaults in Manhattan that holds literally tons of foreign gold…for free! Gold still lurks in the shadows as the final arbiter of international finance! Just as Fort Knox is still silently sitting there, waiting for the hour when it reopens its operations. The floating fiat currency is obviously a total failure as far as the US is concerned. True, we got more debts thanks to the fiat dollar…but we destroyed our capital base doing this.
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ΩΩJapan considers these sorts of deals to be a form of bribery. Back in 1969, the US was already becoming rather agitated about Japan closing its doors to US exports. So Japan did this goofy deal to keep the US happy while continuing to export. Our relations with Japan are riddled with these sorts of secret deals. Just like we have many secret deals with Israel and Saudi Arabia.
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Is the Federal Reserve blowing asset bubbles? – Mar. 13, 2010
The Fed gets blamed for creating bubbles because when rates are low, money is cheap for investors. That can encourage excessive risk taking and drive up asset prices, as in the dot.com boom of the late 1990s or housing prices in the middle of the last decade.
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Bubbles aren’t just in assets. We can have all sorts of financial bubbles. This is why looking at the price of this or that thing is ultimately useless. What matters is, were is the credit coming from and how much is it and who is using it?
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In the case of the last 30 years, it is painfully obvious that we are inside this immense credit bubble: all our trade partners are lending us money or keeping interest rates very low for us while we go deeper and deeper into debt. Japan’s government is also deep in debt thanks to its own ZIRP lending system.
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Normally, when one goes deep into debt, the interest rate rises relentlessly to prevent the deep in debt entity from borrowing more money. The risk of default rises! But in the case of the US, this credit bubble has encouraged our entire system to run in the red and now everything here runs deep in the red.
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Far from not having enough credit, the US is consuming vast amounts of credit. This is why our big budget deficit is doubling yet again. Ever since the floating fiat currency was launched, our government debts have ballooned just as our trade deficits have also grown. Only during severe financial crashes does our trade deficit shrink and still, it remains the same: that is, we import twice what we export.
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“Easy money is a key ingredient of crazy bubbles,” said Lakshman Achuthan, managing director of Economic Cycle Research Institute. “This is why observers have said the Fed is just blowing up bubbles.”
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I really despise all the people who think we have some way of creating more credit without it destroying our nation. ’Oh, if only we can have a NEW debt machine,’ they sigh, ‘We can lend money to ourselves and rebuild America!’ Well, all we need to do is stop the WTO and IMF and rebuild our nation behind very secure trade barriers and of course, we will have to deal with that flood of US money we handed out like candy to trade rivals.
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But is the fear of another asset bubble enough to spur the Fed to tighten economic policy and start pushing up rates? Many economists are doubtful. They think the Fed is less concerned with bubbles than with spurring economic growth.
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The reason we have one bubble after another and end up poorer after each one is this: we think we can grow by consuming our capital base. Instead of growing our capital, we eat it. Like a farmer who eats his seed corn and can’t plant anything in the spring, the US consumes foreign goods and to pay for this, has to go into debt more and more. If debt is super-cheap and the dollar is strong, we consume foreign goods such as OIL, more and more.
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“I think bubbles are something the Fed needs to watch,” said David Wyss, chief economist at Standard & Poor’s. “But I don’t see much evidence that is the dominant issue for the Fed compared to 10% unemployment and lack of sustainable growth.” The Fed’s statements for the last year have predicted the fed funds rate will stay exceptionally low for “an extended period.”
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ΩΩThere is nothing cheaper than ZIRP lending. But as I keep mentioning, there is this nasty thing called ‘principal due on loans’ and this grows at a rapid rate, eventually one will owe more than one can afford to ever pay off. Then, one is locked forever in the grip of the bankers holding the PRINCIPAL due on these loans! A nation can risk doing this only if the borrowing is used to increase the size and dynamics of the productive base. The US produces stuff today.
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ΩΩSome people chide me saying, we still make stuff here like cars. Of course, the fact that these cars are produced by foreigners and the profits from selling these things to Americans flows to Tokyo and not Detroit, is ignored. We have sold off our own capital base and any productive factory building and operations are now mostly done by foreigners who seek more control of our domestic markets! We cannot ignore this. And this is part of the credit bubble which was created by the floating fiat currency regime. Here is a tidbit of news about our own government and how Goldman Sachs continues to increase its power within the controlling parts of our system:
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Gary G. Gensler News – The New York Times
President-elect Barack Obama has chosen Gary Gensler, 51, to head the Commodity Futures Trading Commission….Mr. Gensler, who became a partner at Goldman Sachs at the age of 30, is a staunch Democrat who was a top adviser to Paul S. Sarbanes, then a senator, in drafting the Sarbanes-Oxley law in 2002. That law, which provoked howls of protest from business groups at the time and in the years since, imposed strict rules and oversight of corporate accounting after the bookkeeping scandals at companies like Enron and Worldcom.
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ΩΩThe Lehman Brothers collapse continues to roil. It turns out that the guys at the top of Lehman Brothers lied about the value of their own holdings and the rate of default on loans they held and they got assistance from all over the place to cover up the true nature of what was going on and only after the Bank of International Settlements forced Lehman and other international financiers to ‘mark to market’ their paper products, the entire facade collapsed. Virtually no one has been arrested for these crimes, of course.
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ΩΩThe lack of energy for going after these people is due to everyone involved being very involved in bribing Congress and ignoring immense credit bubbles.
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ΩΩThe Associated Press: NH remembers Granny D, who walked across US at 89: Granny D was a fine American lady who walked across the entire US to push for campaign finance reform. The GOP appointees to the Supreme Court just got rid of all campaign finance rules which pleases AIPAC, of course. Anyway, she died this week right after the Supremes undid the pathetic attempts at preventing the very rich or foreign powers from utterly corrupting Congress and now we are at the mercy of this corrupt system. Which Congress can fix but won’t fix since it is much easier raising money to run for office if one can get this by being a whore.
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ΩΩNow to jump to another topic but one of great interest after the discussion above. That is, China is now the world’s leading railroad builder and is very, very ambitious: China has adequate funding for high-speed railway construction: official. That is, China is CAPITALIZED and is now using this to BUILD INFRASTRUCTURES which will be more and more useful in the future. The US believes in more and more jets. Even while the world’s leaders wail that we are all going to roast to death (digging through deep snow is hard work, by the way) the US and Europe continue to expand jet service.
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ΩΩBut China is preparing for a post-jet world! And they are correct in this just like they are correct to develop and expand their alternative energy systems production. Now, the US is making a slight stab at building railroad systems after totally destroying our previous system:
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Harold Meyerson – The road to America’s economic recovery starts in L.A. – washingtonpost.com
Now, Los Angeles is asking Washington for loans — not grants, mind you — to be repaid with that sales tax revenue, to accelerate said construction so that it can be done in one decade rather than three. In other words, to help finance a major environmental and stimulus program that won’t add to the federal deficit. It’s an idea so novel that Washington’s initial reaction was befuddlement.
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L.A. voters are as tax-averse as anyone, and the initiative that a whopping 68 percent of them supported followed the model for successful Golden State ballot measures: It left little to the discretion of elected officials. It stipulated where the rail lines would begin and end, which bus lines would be added, which roads would be widened. By generating roughly $40 billion over three decades, it would double the L.A. rail system — a prospect so pleasing to all manner of Angelenos that Measure R was sponsored by the local chambers of commerce as well as unions and environmental groups.
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ΩΩHow can California borrow anything? Right now, the state is mired in a financial mess! If they can raise taxes for railroad building, why can’t they pay for the deficit that is already eating up the budget? Of course, California is big on tax cutting—this is Reagan territory. And this is why the state is in a financial mess. California is begging the US government to bail out the state while at the same time, telling the government, they can rise taxes to pay for capital improvements?????
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ΩΩThis is insane. Of course, it sounds cute, too! Why not borrow against future taxes! The problem is, they are demanding we bail them out while they do this. It is, of course, a no-go.
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ΩΩUS High-Speed Rail: China To Bid On Projects—This headline should scare everyone. If we develop alternative energy systems, the Chinese will win the bidding war for the projects. If we build rail systems, China will win again. NY state has had this problem, too. We try to have our own industries build our subway cars but end up buying from Canada and Japan. If we do build factories here, they are owned by foreigners who build rail systems in other countries. We are basically being colonized. Instead of being leaders in development and manufacturing, we are the vassals.
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King’s Cross to Beijing in two days on new high-speed rail network – Telegraph
China is in negotiations to build a high-speed rail network to India and Europe with trains that capable of running at over 200mph within the next ten years.
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The network would eventually carry passengers from London to Beijing and then to Singapore. It would also run to India and Pakistan, according to Wang Mengshu, a member of the Chinese Academy of Engineering and a senior consultant on China’s domestic high-speed rail project.
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A second project would see trains heading north through Russia to Germany and into the European railway system, and a third line will extend south to connect Vietnam, Thailand, Burma and Malaysia. Passengers could board a train in London and step off in Beijing, 5,070 miles away as the crow flies, in just two days. They could go on to Singapore, 6,750 miles away, within three days.
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ΩΩWow. Just amazing. The Chinese can read the tea leaves. They were falsely accused of wrecking the Copenhagen CO2 Credit Derivatives deal. But they, not the US, are the leaders in engineering the new systems. Once they get everything into place, they will use the IMF which they will control by then, to force the US to follow global warming rules and to pay off our debts like the Iceland people are being forced by the IMF to pay for banking messes created by gnomes.
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ΩΩWe can’t rebuild our nation unless we drop our imperial pretensions and regroup at home! Time is running out.
Nope. For some reason I cannot fathom, it is OK for Japan to do this ruthlessly.
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My wild guesses:
1. U.S. elites consider Japan as a occupied country so they can handle Japan, if …
2. Lobby groups established during the cold war have a life of its own, Japan, South Korea invested heavily into the this group and it is going to fade away …
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Japan has a well established relationship with the N.Y. London City bankers:
http://en.wikipedia.org/wiki/Jacob_Schiff
http://74.125.95.132/search?q=cache:IbcxVa3LmjQJ:www.larouchepub.com/other/2004/3123morgan_v_dr_sun.html+wall+street+finance+japan+russian+war&cd=3&hl=en&ct=clnk&gl=us
4. It might not be an accident that this Krugman guy never mention Japan in his well organized attack on China. ON this subject, he is on the same line with his cousins in the Commentary, a rabid hatred of China. They definitely work for the same boss…
2. …it is going to fade away …
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it is NOT going to fade away…
‘We can’t manipulate our own currency because we lost control of it when half of our debt and half of our currency is held outside of the country. We have no native control of either.’
Do you follow the news at all? We manipulate our currency every day. Bernanks prints as much money as he wants and the fake money is used to move currencies, debt markets and equity markets. Hu thinks he is clever, but the dealer can never bust, since the dealer prints money. Hu is not clever at all. Being clever would be to walk away from the Bernanke and Geithner rigged game and make the yuan a convertible currency. However Hu is very greedy and the foreign exchange holding have a hold on him. He is the Hetty Green of international trade, more in love with money than any other person in the world.
‘In the bitter end, all economies are all about families. No nation can operate for long using shattered families with little social connections as its basis. Eventually, the family has to be protected and nurtured, not ruthlessly exploited. No civilization operates on the basis of no social cohesion.’
Have no fear. Google is going back to China along with pohn and advertising and Colonel Chicken. The drugs, heron and opium and hash, will be flowing from Afghanistan and Pakistan, whose mountains of indefensible borders are patrolled by us. You can either have a consumer economy, or families. China does not have a good choice at this stage. Macau is a good start for the filth bilge to start choking China. As long as Steve Wynn and Sheldon Adelson are allowed to ply their wares, the filth will turn into fatal sepsis.
‘I suspect one reason the Founding Fathers stuck their capital in a place no one wanted to live (a swamp) was to keep the mobs at bay.’
Correct. This was the Pennsylvania Mutiny. However this was not a mob in your sense. These were Revolutionary soldiers who demanded pay.
The 20,000 mile railroad is a joke right? The only reason manias like that are put out is to help Japanese trading houses and English mining interests to move inventory at a hundred percent premium. That one is as good as George W. Bush planning a mission to Mars. Not going to happen.
goofy stuff from Market ticker;
”The entire premise of so-called “Free Trade” with the Chinese was predicated on the belief that if we opened our borders to their products on a “no tariff” basis that we would, over time, change their political system. That is, we would import cheap Chinese plastic junk and export democracy. More or less.”
China is one of the few nationalistic countries that believe in trade that benefits China rather than a banking cartel.
“What is Globalization? It is the collective effect of purposeful and amoral manipulation that seeks to centralize economic, political, technological and societal forces in order to accrue maximum profit and political power to global banks, global corporations and the elitists who run them.”
“Free Trade” is the central mantra. Globalization is set against national sovereignty, closed borders, trade tarrifs and anything that would restrict its goals and methods used to achieve them.
Globalization promotes regional and global government, a one-world economic system of trade and a form of fascism where global corporations and their elite control the policies and directives of individual governments.”
http://www.augustreview.com/knowledge_base/getting_started/how_to_understand_globalization_2006111436/
The Trilaterals seem to be the group that pushes “globalization” the most which brings up an interesting point.
I think China only participates in the Trilaterals as a “Triennium Participant” while Japan has been the main Asian member.
At one time, I think the plan was for Japan to rule the Asian roost but China has other plans that may dilute the Trilateral plans.
I suspect that Japan too has nationalistic ambitions that may push them from the West to China’s growing influence.
I think it is very possible that we may see other nations that value sovereignty move towards China’s sphere, maybe through the Shanghai Cooperation Organization (SCO).
Here is an interesting video from Patrick Wood’s on the trilaterals:
http://www.motionbox.com/videos/0096d2b6…
“In the bitter end, all economies are all about families. No nation can operate for long using shattered families with little social connections as its basis. Eventually, the family has to be protected and nurtured, not ruthlessly exploited. No civilization operates on the basis of no social cohesion.”
Absolutely brilliant. Brava, Elaine!
@payAttention: “Hu is not clever at all. Being clever would be to walk away from the Bernanke and Geithner rigged game and make the yuan a convertible currency. However Hu is very greedy and the foreign exchange holding have a hold on him.”
For all I know, that may be his mistaken motive. If so, it would be very fortuitous, because it seems to me, there is another good argument for China to do what it is doing: Why risk blame and WWIII by unpegging US dollars and dumping US debt along with Russia; the US is strong now but every day that goes by China gets more industrialized and the US gets more broke. Thus far, he’s still been able to build while selling at a loss and buying worthless T-Bills at our “casino.” As he watches the dealer running out of cards. Why risk a gunfight trying to take his winnings from a resentful table unless he must?
Hu’s real decision points are (1) when food inflation becomes untenable for his people OR (2) whenever he guesses that his winnings are only building industrial overcapacity after peak oil. Until either of those decision points, his best plan is what he’s doing right now: stop buying T-Bills, hold off on any blameworthy dumping, and watch us print to the moon while we deal.
Anyway Ben and Tim seem a little to squirrely for the poker faces you implicitly attribute to them. Short-term-ism is what you see and what you get, and that’s the problem.
OT; quote from our paper this morning’ true case
Two psychotics, each think they are God and that the other is dilusional.
And this wont help our deficit problem:
http://finance.yahoo.com/news/CMKX-Shareholders-Coalition-iw-3194779771.html?x=0&.v=1
@Justice..
Your thinking is not shallow – it is also the thesis at the Kennedy and Wilson schools and at the War Colleges by derivation. I want you to dig deeper though.
The American middle class does not wish to start a war with China or destabilize China’s borders or promote religious insurrection in Tibet or amongst the Uighur or the Falun Gong cult. Likewise Americans do not want to destroy China’s economy in an inflationary spasm that Obama/Geithner hope will set off social unrest and lead to an overthrow of China’s government. Hu should use his brains and stop building up the Geithner/Bernanke faction, which does want to keep American military at China’s borders, infiltrate heroin and opium through those borders and demoralize China through moral and follow with financial destruction. Instead, Hu is ruled by greed and is building up the Geithner/Bernanke faction that intends to destroy China. Every day that Bernanke is successful at printing fake money and exporting his inflation to China is a loss for the majority of Americans that are not China’s enemies and a loss to China. Hu is no longer vigorous in his thinking, too old and rigid to understand that he is being played for a clown. This is why he made a huge mistake in rejecting Putin’s offer of political alliance in exchange for more fake Bernanke money. History will not be kind to Hu for his greed.
Drkirbyluv has a good point that US economic policies are created and benefit the multi-national corporations, and if I might add run by pathologically greedy individuals – While China’s economic policies benefit the China.
Justiceatsqualor brings up the question of tipping points of – When China decides that building industrial infrastructure has hit it’s limit due to peak oil – And too much money pouring into China causing unmanagable inflation – and even more thought provoking is……
Payattention saying that exporting inflation is a strategy to cause social instability in China.
Will China take over the IMF and therefor control the cost and flow of credit as Elaine suggests?
Now I know why I read Elaine on a daily basis – and, yes, it’s been suggested that I seek professional help because of this habit.
China could lift the peg and crash the dollar tomorrow, if they wanted to.
But, why ruin the fun … watching the Lizard virus rot their competition.
@payAttention. . .
With peak oil driven production decreases and maxed out credit and money creation, the world is headed for managed global bankruptcy, whoever it hits first, China or US. Yes, our printing presses and reserve currency status allow us to export inflation. Yes, our derivatives beast allows us to obscure the bankrupt and move others into insolvency, lining up the PIIGS to be slaughtered to decrease western consumption and sop up credit, to prolong things. All of this means that the illuminist pyramid is crumbling from the bottom up, thus far, but it will reach the top. To suppose that China will destabilize but somehow we won’t seems somewhat wishful, particularly comparing our two people, theirs inured to hardship and ours with so much to lose.
No, let me suggest that the “Bernanke/Geithner faction” (can we call them AIPAC and zionist bankers?) are actually in league with China! Look at their end-state without such a covert alliance: The whole state of Israel looks like a beachhead landing in preparation for a blitzkrieg of the promised land between Egypt and the Euphrates. Plused up to 12 million by another 6 million immigrants, lets say, after the top of the pyramid crumbles. Who will they have to turn to to sell all that Iraqi and Kuwaiti oil? Not the Arabs. Maybe not Europe. Why depend on the US, an abused debtor nation, when they could have an alliance with China, a creditor nation otherwise relatively impervious to their infiltration. No the Zionists have been promoting Kurzweil’s singularity as a western soporific to lull us into complacency during the Chinese 50 year plan. And another example: Google–I can remeber in Iraq, when Google maps blurred out all of Israel (and Cheney’s house), yet our area of operations was clear as day: the insurgents proved that they used that imagery by producing and distributing trophy after action reports of sniper operations. (Maybe it’s fixed now, but F–k Google forever!)
Anyway, I suppose the most likely, and only reasonable, endgame for the Zionists is that they’ve agreed to sell us out, that they’ve agreed to deliver us economically and militarily to China. That’s what bankers do, anyway, move on to the next host as best they can. Just look at all those third world kleptocrats. . .
There are many ways to look at the relationship/rivalries that are playing out in this world. One is to see what is really happening, another is to interpret what we think is happening in “unconventional” ways, and another is to second guess or read minds/intentions, etc. History can guide but also mislead. Perhaps Freudian views should take the lead?
My take based on personal experience is that Chinese are just as greedy as anyone. And the richer they get, the greedier they get (just like the gnomes – surely gnomes know no ethnic limits). Chinese love to gamble, and they run to extremes and excess as well as anyone. History shows that. And they have seen the downfalls, wrack and ruin that result over thousands of years. No rule of Heaven or Central Party can change this.
Since the main game is psychological in our markets, again nothing new; this is the realm of inquiry to follow.
Just as a cockroach jumps without thinking due to direct wiring of nerves to its leg muscles; many current economic warfare stories seem to be of this type. Autonomic unreasoned responses .. ie action/reaction is what each side is playing at.
Whoever is the better at this shadow puppet game, will gain ground. The facts on the ground… factories, acceptance of fiat money, debt/capital are secondary and supporting actors in the end. At least until the military balance shifts substantially and radically. Which may happen. Will happen, eventually.
But perhaps by then the I Ching and the E8 Lie concept of the universe will have overtaken all this minor rivalry in our thinking and it wont matter one whit.
Food for thought: China may yet stumble?
Andy Xie, China high profile economist ex Morgan Stanley suggests western countries may follow Japan’s trajectory:
http://english.caing.com/2010-03-15/100126807.html
His argument being the core reason for Japan’s decline is debt AND ageing population drives their static economy.
Such societies with huge external debt face inflation and Japan (with little external debt) face deflation.
China and India will face the same problem within next twenty years.
Andy suggests avoiding trap post by an aging population is very difficult.
Questions:
Perhaps China can transit from export dominated economy to domestic consumer demand based (China @ 30% and US @ 70%) fast enough?
US demographics and popular cultural propensity for change may yet save your bacon?
If only the US focused on reducing military expenditure and developed a strategy to re-industrialised (Elaine’s theme) as part of a grand bargain with China, EU, Latam and Africa…somehow global trade has to be rebalanced.
Otherwise, stupidity and frustration could lead to wars either direct or proxy?
What will dominant china be like?
One take: http://www.themonthly.com.au/china-great-power-ross-garnaut-2323
Rocky Lizard still doesn’t have the votes to pass his Death Panel Health Care Bill.
Rocky Lizard is lashing Nancy something fierce to “Do whatever it takes. We have to have this bill.”
Once the Bill is passed, if it is passed, the Independent Medical Advisory Council will swing into action, and we’uns will swing too.
Hail to Draco!s Population Inferno.
“China could lift the peg and crash the dollar tomorrow, if they wanted to.”
Here’s an excellent pair of articles suggesting otherwise, that the dollar would not crash:
“Fear mongering about the consequences of a potential revaluation of the Chinese Renminbi is just that, fear mongering. There is little to no possibility that this could bring about a dollar collapse or significant inflation.”
http://www.minyanville.com/businessmarkets/articles/dollar-yen-china-revaluation-america-good/3/12/2010/id/27258
http://www.minyanville.com/businessmarkets/articles/china-yuan-revalue-dollar-usd-renminbi/3/15/2010/id/27281
Elaine, our leaders harp about China not Japan because China makes up 80% of our non-oil trade deficit.
I think you’ll agree with much of his analysis, like this: “There can be little doubt that the flip side of massive Asian trade surpluses has been massive job losses in the US and the suppression of US wages in the tradable sectors of the economy.”
@Justice
You have given this subject some good thought. Consider that there is a great and acrid division within Israel. The European/French/Russian faction versus the American/Russian faction. The first was ready to break the government over the stunt circus that Biden was made to endure. This is why Netanyahu had to apologize and will continue to do so. They are deeply disturbed by the Bernanke, Geithner, Axelrod, Summers, Emmanuel, Gensler, Schapiro freak show. The Arabs are an old stand in for overreach, but this administration is so far over the top, that their opponents in Israel are frozen with fear, in spite of utter contempt for these swashbucklers and the danger they represent.
You are correct that a land bridge that bypasses the Cape of Good Hope is the most strategic geography that there is. Somehow our Dear Author can not put together that our two heaviest recipients of foreign aid for the last twenty five years are also the two countries that span this bridge. However I can not follow you, although this conclusion would not be illogical, that the Jews want to realign with China. Expand the alliance, yes, but substituting China for the USA is just too many variables and unpredictables for anyone to contemplate. At this point, an alliance with Russia is more natural, not only through the resettlement of over two million Russians there, but also because of the much closer geography. American interests are properly focused in the Americas. Should the West want to maintain the Mediterranean land bridge, Europe will have to start carrying that weight.
@Angela……. I was following your line of reasoning until the last line where it went off the track and into something different.
You seem to misunderstand the argument that Elaine and others make here, which to my mind is about waking up the individual to express his/her freedom and how this is being affected/taken away via debt/wars/etc which benefit the internationalist banker elites, etc.
Trading off individual rights for some fuzzy communal sense of rights is not what I read here. More like rugged individualism and “wake up people” and defend yourselves is what I see. That’s my take on it.
>>Bobby Garner (congregator.net)is one of very few people I know of who has studied communitarianism as the philosophy and the religion behind the emerging supranational system. He is the only person I know who’s made the direct connection between Lucifer worship, Alice Bailey and the communitarian world service workers. He’s made numerous attempts to introduce Bailey, The Plan and the communitarian formation of the emerging world government to Myer’s elist. I don’t know why I thought that maybe Peter would respond if another man said it. So far, Bobby’s references to Zionist communitarianism have been ignored the same way mine are. Both of us have begun to openly question why alternative academics, researchers, writers and radio hosts exclude important information from their works. <<
I actually find it humorous that people who oppose the dialectical sntheisis are the new Satan.
Now they are the ones being hunted down and tortured like witches. Thats what happens when predators set up dialectics. Remove yourself from it and your mind is free.
Making you a freethinking heretic who must be burned at the stake.
Think of how many actual freethinkers are under the huge pile of sky high bones.
Stand on top of that pile and say "I oppose".
I’m going to have to give the Angela Rant blog a miss for a week or so.
I can drop back in then to see if the conversation has improved.
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ELAINE: She is nuts. This is the Big Picture for all ‘conspiracy’ believers. They have to fit everything into this one shoe fits all sizes box. They can’t accept complexity.
“I’m going to have to give the Angela Rant blog a miss for a week or so.”
Or… you could use the handy scrollbar conveniently located at the right side of the page.
The Illuminati goal is to degrade and enslave humanity mentally, spiritually and physically.
They are systematically destroying nation states, religions and families while subverting and perverting society.
Their most powerful weapon is their ability to create money for free through their international banking cartel. In this modern alchemy they take our collateral and award us debt while they accrue unimaginable wealth.
Those satanic bastards would suffocate and die if people were able to think clearly and perform junior high math. The people must figure out that nation states can create their own money for free instead of borrowing it from private banks who create it for free.
They have been poisoning our minds and bodies to hide and distort this simple truth.
They are masters at deception and control much of the “resistance.” For example, Mises was brought to America and funded by Rockefeller. Thus giving rise to the Austrian economics. Austrian economics have corrupted the libertarian movement and hoodwinked many who fancy themselves as being “awake.”
Austrians tell us that government cannot be trusted to create money, so we need private banks to do it for us, which is a direct violation of our constitution.
The United States was called the “great experiment” was because it was not known if people had the ability to govern themselves. The Austrians economists are saying that we do not have the ability to govern our finances.
As long as people remain confused and unable to think for themselves, rest assured we will be dominated by cold blooded bastards.
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ELAINE: Do you realize how infantile this analysis you sucked down really is? If anyone believes in ‘alchemy’ it is the ‘conspiracy’ community.
Hitler was a Communitarian/ Marxist.
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ELAINE: He never called himself either. If everything is the same thing, this means you can’t tell obvious differences.
@K-B0
I’ll stand by my prediction:
China could lift the peg and crash the dollar tomorrow, if they wanted to.
Your Minyanville.com cites to the contrary failed on salient issues (CPI, food shortages, inflation, rising Money Supply) and remain unpersuasive.
@Angela
You write with passion and conviction, and I enjoy your postings. Your outspokenness is most refreshing.
Your recent link to misuse of mental “disorders” topped the discussion IMHO.
@payAttention,
Yes, I could be wrong about China (as opposed to Russia as you mention). Yes, yo’re right: the future there is complicated. But by then, any type of power projection will have become very, very difficult and expensive, and thus just as complicated.
But let me explain more of my reasoning: they fear China because it is strong (maybe by then stronger than Russia) and they fear Asians because they are smart (almost as smart as Ashkenazi). Racially, the Chinese are also more zenophobic and harder for bankers to intermarry into power positions. I suppose that makes China the ally they need to please and Russia the chump they need to fool.
I like your views. They are so pleasingly nationalistic from a geopolitical, “great game” perspective. But are we really calling our own shots? What good is the gamesmanship you reference if our Country collapses economically in the meantime? Look at all our corrupt, treasonous polititians pre-fabricated and selected for their blackmail self destruct buttons. I agree we need to go back to the Monroe Doctrine and focus on the Americas. Then why didn’t we start before we broke the bank? Do you suppose it has something to do with our flawed system of central banking after peak oil. i.e. Credit expansion will go bankrupt when production inevitably falls, so why not print?. Or, do you have some other explanation for why this so-called empire is being driven like a stolen car?
A warning to Angela: it will be pointless to put up more stuff here. Whenever I visit my own site in the future, I will remove them all. So don’t bother.
Also: I don’t mind philosophical or religious arguments. This whole ‘communitarian’ garbage is OK in itself. It is the offending and violent language including cursing I object to and Angela has obviously lost any ability to have a decent argument. So she is now banned.
I hate banning people. It is immensely annoying. But when I request someone stop doing something, it pays to stop. After all, this is NOT an anarchist site, it is my literary home. And I don’t like people pissing all over my visitors. Who are other posters here.
ELAINE wrote: Do you realize how infantile this analysis you sucked down really is? If anyone believes in ‘alchemy’ it is the ‘conspiracy’ community.
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You are taking my use of “alchemy” in describing the way that the private banking cartel creates money for free.
What I wrote may be beyond your grasp but that does not make it a conspiracy theory…it is a conspiracy fact that we borrow our own money from a criminal group.
Why should we “borrow” and collateralize money that we can create for free as a nation state?
This is the real reason that they are destroying nation states through globalization. They fear the fact that people might figure this out.
Georgetown Professor and noted historian Carroll Quigley explained it:
“The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.
This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.
Each central bank…sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.”
Please answer one question for me Elaine…you have quite a bit of expertize with China but do you know that they create their own money free from private bankers?
Did you ever consider that this may be a big reason that they are kicking the financial butts of nations under the usury of the international banking cartel?
Larry
@payAttention: “Somehow our Dear Author can not put together that our two heaviest recipients of foreign aid for the last twenty five years are also the two countries that span this bridge.”
Fair enough, but why let one country steal nukes and run our politicians? And not even the the one that happens to be in possession of the bridge. Your argument sounds good to the starry-eyed Patriot, but ignores the major religious pet project of the not very patriotic international bankers calling the shots since their stranglehold on central banking began.
Pay Attention pays no attention to anything I write. He is here only to bloviate.
As for Dr. Krbyluv: look, I know there is this maniacal need for many people to have this vast, overarching system of beliefs that cover every possible thing but this system of beliefs ends up simply making rational thinking impossible.
No, there is not some monolithic ‘elites’ running everything all the time, there are coalitions and alliances of an ASSORTMENT of people who have DIFFERENT GOALS and quite different aims and they are in COMPETITION with EACH OTHER (you are a mere bystander to them) and throughout history there have been various groups of assorted people with SHIFTING ALLIANCES who try to work in concert but then end up trying to slit each other’s throats.
And they have all sorts of goofy belief systems and religions and these are also shifting and changing and moving for or against each other and these change over time but the fundamental basis for all of this is like any natural system; it has its rules which are like gravity or how water moves. You can’t do whatever you please but must move with historical forces.
Mistaking historical forces with conspiracies is a common problem. They are NOT the same. There are conspiracies, but not all things are conspiracies nor are all actions we see the result of deliberation, often, shit happens and no matter how hard one tries to control things, stuff still happens.
The collapse of the US empire is NOT the goal of ANY of the people you fear, this is ACCIDENTAL. They dearly would love to run the US empire in the red forever, playing games.
But they can’t and China (which is a whole different empire with different religions and different ethnic groups!) will take over and the older European groups will continue to decline in power. End of story.
“China WILL kick us out of the IMF controlling body and force us into borrowing Chinese capital via the IMF and then we will be unable to lend ourselves money”. Care to predict the mechanics of this end game?, i. e. special drawing rights (SDR), new currency created via Shanghai Cooperation Organization, changes in exchange rates vis-a-vis SDR and/or new currency, etc.
@emsnews: “The collapse of the US empire is NOT the goal of ANY of the people you fear, this is ACCIDENTAL. They dearly would love to run the US empire in the red forever, playing games.”
No rational “elite” would set out to destroy their own powerstructure. But their desperation to maintain those powerstructures that will disappear after peak oil makes them dangerous! I don’t think they wanted to crash the US but they’ve decided to run things in the red as long as possible to delay the end, no matter how much more painful that makes the crash. And IF they’ve decided to maximize the loot (including immigration) from the crash, then I suppose that does mean not leaving enough structure standing to bring them to justice afterwards. Rather than fear them, I’d like to see them jailed.
Elaine wrote:
“As for Dr. Krbyluv…No, there is not some monolithic ‘elites’ running everything all the time, there are coalitions and alliances of an ASSORTMENT of people who have DIFFERENT GOALS and quite different aims and they are in COMPETITION with EACH OTHER (you are a mere bystander to them) and throughout history there have been various groups of assorted people with SHIFTING ALLIANCES who try to work in concert but then end up trying to slit each other’s throats.’
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I agree that the real rulers are not a monolithic group.
For example, China appears to value their sovereignty much more than western leaders. They seem to consistently do what’s best for China even though they are labeled “unfair.”
Any government that values sovereignty cannot submit to “free trade” and the international banking cartel. I respect the fact that China pursues it’s own interest.
Japan is another mystery as supposedly they own and operate the BOJ. Japan may get away with a lot because the western banking cartel wants Japan to continue operating as a franchise, though they do not fit the preferred model.
What if Japan decides it wants to maintain sovereignty? Sooner or later it will have to break away from the west. We may be seeing this now and it could grow to include other nations like Brazil, Iran, India and maybe even Russia.
China may be the epicenter of this new coalition.
That said, there is no doubt that the (western) international banking cartel has it’s own agenda that aims to bust apart nation states and to enslave people by perpetual debt.
It all comes down to who issues and controls the money. Anytime we want, we have the power to create our own money. If we actually did this, that would break their hold.
Think about this…if we wanted to tomorrow, we could create the $4.5 trillion that we owe the private Fed and could repay them for free.
When we repay the principal, the money is extinguished – it ceases to exist. Yes, it would be deflationary (M3 reduced by that amount) but we could take action to mitigate that by issuing additional debt free money.
We could not do this with China as the repayment would NOT extinguish the debt because the money they have lent us was created by other debt.
For example, as you know all of our money is created by debt. If you have $1,000 that you want to lend me, when I repay, that money is not extinguished as that particular debt was not the result of the creation process.
If we simply created the $2 trillion we owe China, it would be inflationary in that the existing currency would be devalued.
The Fed and our private banking system both creates and destroys money. We have absolutely no permanent money – it all perishes upon principal repayment to the banks or through the FOMC.
Please correct me if I am off base with some specifics as I am trying to learn more. Can we find some common ground?
Larry
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ELAINE: By 1970, Japan essentially reasserted full sovereignty basically confining the US victors of WWII to Okinawa and kicking our butts out of Japanese commerce. They have set the model for all of Asia who are all doing this, copying Japan nearly all the way. They all have huge FOREX holdings, for example, for this purpose.
As for ‘creating and destroying’ money: The Fed looks only at money that is in circulation. An immense shadow hoard sits in world FOREX accounts and this can suddenly erupt outwards and this event will destroy the value of the dollar and we will be unable to buy international oil when this happens. Already, OPEC is holding secret meetings with China about this looming event.
Regarding creation/destruction of credit: its clear that money is “created” when a loan is taken out, and “destroyed” when it is repayed in a credit based (private banking) system.
This is what is happening now in the US via the deleveraging process:
http://www.zerohedge.com/article/albert-edwards-predicts-deflation-followed-double-digit-inflation-governments-opt-default-an
If all the loans were extinguished in this system, there would be no “money” as it is illusory. Only “money” would be that tied to assets, and that is what Wall St game is all about, linking some tangible asset to a promisary note. All the land in the world is worth “zero” for example, if there is no means to “monetize” it. This was the realization of the South American economist Hernando de Soto Polar, who found that by creating a piece of paper for landless peasants that they could take to a bank as “collateral”, they could get “money” flowing.
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ELAINE: The value of ‘land’ NEVER drops to zero except when ecological destruction destroys the natural ability of land to be productive! For land is productive. You can mine for minerals. Grow food, which is the most significant usage. Trees which can be harvested, too, all sorts of necessary uses: land is always so valuable, people will wage endless wars over holding land. There are even really, really nasty wars over essentially worthless lands like Jerusalem, for example. For thousands of years, people trooped there to butcher each over over simple religious beliefs! Seriously.
The monetary value of land has nothing to do with the emotional and working value of land. The monetary value shifts and changes with the availability of credit but the core value remains.
Professor Krugman is harping constantly in the New York Times about the need for China to appreciate its currency, the renminbi or yuan, but why does not he recommend the depreciation of the dollar which is the US currency and thus within the prerogatives of the US government? The result would be the same, would not it?
What (or who) determines an exchange rate i.e. the price of one currency in terms of another? It does seem there are still people out there not comprehending this currency saga. Is this a failure of education, which, by definition is supposed to make arcane subjects simple? Alternatively, is it that concepts are being expressed in words that do not convey clearly and appropriately their meanings? Let me try with a simplistic and basic example: My factory manufactures shoes and I find that if I price it at $10 a pair (70 Yuan at current exchange rate) there will be willing buyers in the USA. So I export the pair to a US importer who requests his bank to debit his US$ account and effect payment accordingly. His bank would then credit my Chinese bank’s account in its books (or the books of another US bank where my bank would have opened a US$ account).My bank would then credit my local currency account with 70 Yuan. Now, with more and more US orders for my products, my bank’s US$ account keeps accumulating. Translated at the overall trade level with numerous products, resulting in net exports, Chinese’s banks’ US$ accounts show substantial balances, the surplus of which are sold to the Chinese Central Bank. The latter, in turn, convert these, mainly, to US Treasury Bills or Bonds, thus helping finance the Federal Budget deficit, which, in one way or another, enhances the welfare of US citizens. Meanwhile, Chinese exporters’ Yuan bank accounts also mirror this surplus, boosting the monetary base, which is not without inflationary repercussions. Now the US is saying unilaterally that this exchange rate(price) is not the correct one, that I should be getting 50 Yuan (by suggesting a revaluation of,say,40% of the Yuan exchange rate) ;in other words, the US$ depreciates by 40%.With the export proceeds at this rate I would operate at a loss at the local level. What are my options? To secure the (previous) 70 Yuan I must raise and price the pair of shoes at US$ 14, which may be no longer attractive to my US importer, and the US consumer may no longer have access to my products. Therefore, I may have to cease exporting and close my factory. The US wants to reduce its overall trade imbalance and to boost its exports it has to reduce prices (by devaluing the dollar).Reducing prices is equivalent to cutting costs and that means lower wages, lower purchasing power, lower consumption and a deterioration in living standards. Are these end-results what US citizens wish for, via its Government’s exerting pressure on the so-called undervalued yuan?
All we have to do is buy up Chinese yuan and it will rise in value. We can’t do this because we have no trade surplus with China. HAHAHA. Now, devaluing the dollar: um, yes, this is easy. All we have to do is continue trying to give ourselves more credit instead of paying off the debt balloon and this will devalue the dollar across the planet. This MIGHT happen some day but only when Japan ceases hoarding dollars in their immense FOREX banking machine. Right now, our export rivals gobble up excess dollars preventing the dollar from dropping against the yen, for example.
And it irritates me that smart Krugman never, ever mentions Japan in all of this! What a dummy.
ELAINE wrote:
By 1970, Japan essentially reasserted full sovereignty basically confining the US victors of WWII to Okinawa and kicking our butts out of Japanese commerce.
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Elaine has mentioned on several occasions that Japan is deeply in debt, but they owe the money to themselves.
Couldn’t they simply forgive the debt if they wanted to?
adammateyko – thanks for the link and info
Elaine wrote:
“An immense shadow hoard sits in world FOREX accounts and this can suddenly erupt outwards and this event will destroy the value of the dollar and we will be unable to buy international oil when this happens. Already, OPEC is holding secret meetings with China about this looming event.”
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Scary stuff…this could lead to WW3. The U.S. will blame China and the middle east of “destroying the dollar.”
“The collapse of the US empire is NOT the goal of ANY of the people you fear, this is ACCIDENTAL.”
You win the Lie of the Century Award!
Capitalism has to die, Comunism has to die, out of the ashes Socialism will rise. Socialism is the preferred system of the elite controlling us.
Hegelian Dialectics, they call it.
That is pure insanity. Paranoid people like you and a host of others would dearly love to think that a total economic collapse of all systems is desired by ruling elites. This is plain dumb.
They want whatever status quo is making them richer! DUH. And obviously, this ‘getting richer’ status quo is failing. They are moving heaven and earth to keep the present status quo. It will fail and then be replaced.
As for being replaced by ‘socialism’: I would dearly love to see this happen. I don’t know if you like living with no healthcare, good wages and such, but I happen to like it a lot. For obvious reasons (sheer survival being a top reason).
I highly suspect there are Zionists that are into crushing the goy nations. In fact, I am almost sure of it.
I don’t think that is paranoid or dumb.
China dollar on the rise will make this even more interesting