Don K Dyck
Devilish Don Downunder
- Joined
- Jun 29, 2002
- Posts
- 8,255
woody54 said:The Clintonistas had a more reasoned foreign policy.
The Bushistas attack everyone who has the affrontery to live over the top of "their" oil.
Even the scandals of Africa hearken back to US foreign interests supporting genocide for oil.
The interesting development in the next year will be the opening of Iran's Eurotrading market for oil sales. This the real reason for sabre rattling on Iran because it is a bigger threat to US dollar hegemony than was Saddams change to selling oil in Euros.
Iran is now backed by Russia, China and Europe so wont be any easybeat for the US to push around this time without risking the whole national financial security. US dollars are artificially inflated by 40% through enforced dollar trading and the end is near. The reckoning will be unkind in a 1929 sort of way.
For China to divest a just portion of its mega holding of US T notes , spells doom for the US economy.
Whether it happens quick or slow, it will happen and the US doesnt have the resources to arbitrarily start a new war front when it already has sucked up 85% of the world loan monies to support its current overreached existence.
Any householder in that position would be crapping their pants right now.
Lucky Bush supporters aren't big on critical thinking about their futures with his policies.
Thanks Woody
Yuan float 'in China's interest'
Wednesday Nov 16 08:32 AEST
Federal Reserve Chairman nominee Ben Bernanke says it's in China's own interest to let its currency float freely and he hopes Beijing will do so.
"I think it's very much in China's own interest to let their currency float freely and be determined by the markets," Bernanke said in response to questions at his confirmation hearing before the Senate Banking Committee.
"They're a very large country, they need to have an independent monetary policy, it's difficult for them to keep sterilising their interventions the way they have been doing so I believe they will come to the recognition, and I hope they do, that it's in their interest to let their currency be determined by market forces," he added.
*****
So while the PR China has been sucking good ole US of A dry of manufacturing jobs, it has also been accumulating a huge trade credit that will have to be paid off some day . . . SOON!
What bets that PR China joins the Eurotrading market by trading in a large slice of their US FR T-notes?
<This strategy should push up the value of other currencies, especially those NOT tied in any way to the $us dollar>
So another piece in the Gary Allen (1971) None Dare Call it Conspiracy jigsaw falls into place.
Does anybody know definitely if Bernanke is a member of the CFR?