Steve Forbes Talks About Sovereign Wealth With Professor Prasad In A Childish Way

Forbes magazine has the founder and owner, Forbes himself, discussing in rather a childish way, why the US dollar is ‘strong’ inside of the free trade (sic) economic system he himself and his fellow Bilderberg buddies built.  No mention of the Bilderberg plans, of course.  I find this entire discussion sadly comical for if they are this clueless, we are doomed.  Well, we ARE doomed.  Or they know perfectly well what is going on and refuse to tell anyone which is the most likely explanation: Why One Ivy League Economist Thinks The U.S. Dollar Is Invincible And What This Means For Investors


Forbes: This will lead to some interesting questions on the whole, I think, unfounded fear of China. But first, why is there this sort of neo-mercantilist mentality; in the 1600, 1700s, 1500s it was thought if you pile up silver and gold, you’ll be rich. It was nonsense, Smith demolished it. Now today, it seems to be, gee, we pile up reserves and somehow that will make us rich?


These mysterious ‘reserves’ are the FOREX holdings.  The US has none.  Another word for this ‘gold and silver’ and especially, I.O.U.s which we call ‘debts’ and the US has handed out both ‘money’ I.O.U.s which is our currency and actual I.O.U.s which is our national debt because the rich decided to run our government deep in red ink ever since Reagan.


Countries holding gold, silver, debts and cash are ‘rich’ and nations that give away all this and run their trade in the red, too, are poor.  The US pretends we are not poor because all our lovely trade partners want us to continue buying their stuff while they hold all the gold, silver, debts, dollars, etc. in their  home accounts.  They use this to buy up US businesses, properties and government which is why our government works for them and not for us.


Prasad: From the point of view of emerging markets, it’s really not so much a question of being rich, as just of protecting themselves from volatile capital flows and from exchange rate volatility… Because they see it as still in the pockets of the large advanced economy shareholders. So they say, where can we turn to for safety? They don’t see any place, so they say, the only way we can get safety is by accumulating our own rainy day funds.


Third world countries at the mercy of the great empires have to buoy up their currencies lest currency traders ravage them.  But this isn’t the problem Japan faces.  Japan faces the problem of a strong currency and the only reason they hoard US debt and dollars is to keep the yen artificially weak against the dollar and the euro so they can export more to both.  They make huge profits this way compared to third world countries.


But it’s a double benefit for them, because if they intervene in exchange markets, and prevent the currencies from appreciating, first of all they can maintain the competitiveness of their exports, and they build protection. So, it’s a double win for them.


And this is the ONLY sentence in the entire article that tells the truth!  But this isn’t pursued by Forbes due to him supporting this present destructive system because it makes him and only his buddies, much richer even if it is utterly annihilating this empire, destroying the workers and wrecking the military in the long run.


This ‘double win’ is the entire point of trade!  This is the ‘golden opportunity’ and is known as ‘winning’.  We are losing.  And we get this immense military bill due out of all this. Trillions and trillions in US debt we must pay or default and when we default our fractious nation will turn on itself as nothing is fixed, our jobs gone, no more oil or energy imports, no more electronics at all, no more clothing, so many industries removed from our shores, our fake auto industry will vanish because the foreigners who own much of this won’t profit from having US labor make things no one is buying.


Massive depression is our doom unless we wake up and figure out how this game is played.  We have been the one person at the gambling table who thought we were playing gin rummy and not poker.


This is easy to see with this story:  Why do only EIGHT PER CENT the tasteless toys at the 9/11 Museum gift shop claim to be Made in America?  This bizarre ‘memorial’ has a store attached to it to fund the thing and the top executives, all politically connected and some AIPAC, get over quarter million+ salaries to run the memorial site.  Money pouring into their pockets, no such thing as volunteering for this.  The top CEO gets nearly half a million dollars.


Back to the Forbes interview:


Prasad: So, theory does this and the economists like theory, that capital should be flowing from capital rich countries, that is typically the advanced economies like the U.S., Japan, and the Euro Zone, where there is a lot more capital and much less labor, to countries where there is a lot more labor, and a lot less capital.


Because that should make everyone better off. It would make investors in the advanced economies better off, because they get higher returns on their capital. It should allow the developing countries to invest more and grow faster. But the curious paradox that I documented in some of my research is not only that capital flowing uphill from the poorer to the richer economies. But the countries that are exporting capital, China being a prime example, are actually not suffering for it. They’re in fact growing faster. One possibility is that if you’re exporting capital in you’re not importing capital from the rest of the world; you’re less exposed to capital flow volatility.


Notice Forbes and Prasad praise this free trade deal saying it makes life better for cheap FOREIGN labor and rich capitalist billionaires with no mention of the losers, the US workers or the Japanese workers, too.  Over 39% of Japanese labor is now part time and it is rising relentlessly to 50%.


The only reason money returns to the US is to buy up all our good stuff and leaving us as peasants paying tolls to foreigners to use roads once built by US tax dollars, etc.  Thanks a lot, Bilderberg gang!

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Filed under .money matters, Free Trade

9 responses to “Steve Forbes Talks About Sovereign Wealth With Professor Prasad In A Childish Way

  1. vengeur

    You know , even that sentence where you give Forbes credit for telling the truth, he STILL is dishonest:”But it’s a double benefit for them,because if they intervene in exchange markets, and prevent [their] currencies from appreciating [against the dollar], first of all they can maintain the COMPETITIVENESS of their exports…” . It should say: “first of all they can maintain the competitive DOMINANCE of their exports”. These globalist are as slippery as they are smart. You literally have to look at every word they say , because behind ONE WORD can hide the entire façade of their lies.

  2. Jim R

    Being Steve Forbes means never having to grow up.

  3. vengeur

    Also , you can see globalist like Forbes love the idea of capital flowing from “rich” (U.S., Europe) countries to “poor” countries” :” …that capital should be flowing from capital rich countries, that is typically the advanced economies like the U.S., Japan, and the Euro Zone, where there is a lot more capital and much less labor, to countries where there is a lot more labor, and a lot less capital.” Which explains EXACTLY why they love the whole idea of the Global Warming wealth transfer: with such a huge potential flow of “capital” , they know it will be childs play for them to siphon off trillions for themselves, because they are always well positioned to be the BIG WINNERS of any such scheme, be it FREE TRADE, or GLOBAL WARMING TAXES.

  4. Vlad

    Steve Forbes, the world’s richest moron!

  5. melponeme_k

    You’ll get a kick out of this…Adbusters trying to sell Japanese poverty, no future world as some new kind of culture movement. Not one mention of Free Trade, no business taxation or elite taxation which starves the government of funds.

  6. Being There

    Malcom Forbes was the billionaire success. His lackey son goes to Greece to set up a bargain basement sale of the commons and wonders which cronies want to buy Greek Islands. Neoliberalism is war by other means. You can get the spoils without ever fighting militarily. That’s where the IMF steps in and demands austerity and the sell-off.

    Steve Forbes is the same guy who ran for PODUS on a flat tax platform. I keep wondering what this nerd would have been if Daddy didn’t give him one gigunda boost!

  7. emsnews

    Are you kidding me?

    This is ALL ABOUT WAR. This is why we pile on debts for our military that does nearly zilch about protecting our homes here in the US.

  8. Beginning the week ending May 16, 2014, an unwinding of the Euro Yen Currency Carry Trade, that is EURJPY in nation investment in Ireland, EIRL, Greece, GREK, Italy, EWI, and Eurozone Stocks, EZU, as well as a derisking out of the European Financials Debt Trade, EUFN, introduced a see saw destruction of fiat wealth, and the age of debt servitude, and terminated all liberal things worthy of trust, such as a university education, home buying, and fiat wealth investing.

    Hence forth and forevermore Jesus Christ operating in the economy of God, a concept presented by the Apostle Paul in Ephesians 1:10, having wound up peak experience in carry trade investing, will be unwinding all global trade, nation investment, dividend investing, and traditional banking investment.

    Investment in Japan, EWJ, and its Automobile Manufacturers TM, and HMC, and its Banks, SMFG, MTU, MFG, has taken a beating as is seen in their combined ongoing Yahoo Chart with Global Growth ETF, DNL, communicating that the smart investor was short these investments, as the global debt trade and currency carry trade, was winding up.

    Its uncertain in my mind, what will happen to Japan.

    But I know, what is going to happen to the Bilderbergers. According to Bible prophecy of God, that is the sovereign Lord God of the Universe, ordained that the Beast Regime’s totalitarianism be the prevailing form of economic activity, replacing US crony capitalism, the Eurozone’s socialism, and Chinese communism; this is foretold in Revelation 13:1-4, as well as Daniel 2:20-45.

    Seigniorage, that is moneyness, will come from the regional bartering and also mandates of regional sovereigns, that is regional fascist leaders. Zero Hedge reports China Signs Non-dollar Settlement Deal With Russia’s Largest Bank. And Mike Head of WSWS reports Financial Ratings Agency Cracks The Whip On Australia’s Budget. Standard & Poor’s said Australia’s triple-A credit rating was at risk if the government did not overcome the popular opposition to the budget.

    The replacement for the Banker Regime’s Money Manager Capitalism is the Bad Bitch of Totalitarianism; she is described Revelation 17:3-4, the Scarlet Harlot who rides the Scarlet Horse; so the Bilderges will become tightly knit with regional fascists in installing policies of diktat in regional governance, and establishing schemes of control unifying all seven human institutions within each region.

  9. luc

    and the mayor of a ruined city gets an invite! Is he being groomed to be POTUS? via Drudge

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