The US has become quite addicted to all the world trade flowing to the US while we pay for this via a massive mountain of trillions in debts. Few people know this but ‘dollars’ and any paper money are actually DEBT promises. Way back before the Great Depression, all paper money printed in the US had words to this sort, that first, paper money can be handed over for gold and then later, silver. Then this was dumped after Nixon cut the metal connection to paper money and debt took off like a rocket. As did inflation which the government fixed via letting in a flood of foreign exports which drove down prices somewhat.
Britain says in ‘national interest’ to join China-backed bank because London is the banking center of the world and the Queen runs many offshore banks at various islands that swear fealty to her and the government of London, not the ‘country’ of Britain. Immediately, the Obama administration hits out at UK after Britain signs up to $50bn Beijing bank :
But the Financial Times has quoted a US administration source as saying Britain took its decision after showing ‘virtually no consultation with the US’ and as G7 was still discussing how to approach the new bank.The source said: ‘We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power.’
The Financial Times reports that the comments are an apparent breach of the ‘special relationship’ between Britain and America.
It reports that relations between David Cameron’s government and Washington were already strained amid concerns over the level of Britain’s defence spending.Twenty-one other governments including India, New Zealand and Thailand have said they want to join the new bank.
The State Department is highly aware of the Chinese 50 Year Plan because I told them all about it way back in the Reagan era. This is why the US hot shots in DC are all in a lather, they ceased reading me years ago out of arrogance (the Elaine is very stupid storyline has a downside!) and I warned everyone 8 years ago that the time schedule is roaring way ahead of expectations and that the Chinese, back then, crossed the trillion dollar FOREX reserve threshold meant they now have enough power to control the value of the dollar to the point, they can destroy it at any time they choose.
This scary information has been concealed from the public and the Federal Reserve doesn’t mention the fact that $4-5 trillion held overseas by foreign bankers is a very bad thing, instead they lie about this and claim this makes America Stronger! Indeed!
Nothing sillier has ever been said by bankers and they say many silly things. During the run up to China’s rise, the price of gold has stagnated or fallen. This is because gold is not needed for destroying the US dollar so why buy lots of it, the Chinese thought. Unlike India which beefed up on gold for a while before the government began taxing the purchase of gold and way back when, I warned gold buyers that they were in for a very long bear market when this happened which caused a number of people to cuss me out and storm off to lose money betting that gold would shoot upwards. Sad cases, all of them.
The Chinese, once I explained how banking works with international trade way back in 1987 when the officials lived with me in New Jersey thanks to an arrangement my father made in Beijing with the communist leaders there, the students were very excited and one of them who ended up running Shanghai’s trade commission yelled, ‘I be bank!’ meaning, using trade with the US that would be entirely in China’s favor would mean he would also end up controlling our central bank this way! Easy to understand and utterly murky to the average economics professor in the US.
Putin knows the importance of this bank and how it will change trade: China’s Silk Road initiative promises gains for Russia and India…
The initiative has three components: linking India, Bangladesh, Myanmar and China; linking China’s western part through the Karakoram Range to Pakistan’s port with possible extension to further West; and linking China’s eastern part to countries through a sea route. These routes are to be connected to the old network of routes called the Silk Road. The benefits will be mainly three-fold. It will foster regional economic integration. It will help develop infrastructure for the flow of energy. It will also help develop coordination among participating countries to fight religious extremism and terrorism. Other benefits include promotion of tourism, coordination for environmental protection.
Once this initiative takes a concrete shape, it will help India to have access to Russia through the Central Asian region. It will also help move the idea of North-South corridor from Russia to India in a positive direction.
India is cut off from territories to the north due to the Himalayan Mountains. Penned in on the flatlands side by Pakistan, the initiative between Russia and China that includes India would open up trade greatly between the three with Russia being the Land of Plenty of Natural Resources for both Asian nations. Russia used to have to aim almost all its trade to the EU but won’t much longer. The EU sanctions simply moved up the timescale by about a dozen years. The Chinese were quite delighted when Europe strangled its very important trade partner, namely, its source of cheap energy and other resources.
There is nothing the US can do to stop the UK from jumping the traces and running off with the Russia/China/India troika that will race across Asia.
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