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« Japan And Saudi Arabia Triangulate With China | Main | Bush Loses Another Round To Iran Kitty »

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DeVaul

How would the dollar be forced up?

As someone pointed out here earlier, the forex funds of other nations have limits, whereas Bernanke has a limitless amount of "nothing".

The more they shovel dollars into their funds, the more "nothingness" Bernanke has to offer.

I don't see how they can win this game of forcing the dollar up while Bernanke attacks the dollar's support studs with a buzzsaw.

Elaine Supkis

Do not underestimate the powers of joint action. If everyone begins a new alliance that is aimed at forcing the dollar up, we end up ISOLATED. If we cease our function as the world's trade destination, we will end up ISOLATED.

Which may be good for a for a while but we can't rule the Seven Seas this way. Which is bankrupting us. What I see is the process of the US slipping out of the #1 slot and taking a much lower profile over the next 50 years. If we are smart and don't start a major war.

DeVaul

Great cartoon, Elaine! Really funny!

I am glad I stayed up late enough to see it.

I would not be surprised if the moneymakers found a way to force up the dollar, as all number games seem to be over my head now. Example: 500 trillion in derivatives.

Is it real or not? I don't know.

Carli

What we are seeing unfold is the difference between a benevolent and focused leadership (China), and a greedy and decadent one (US). That is not to say corruption does not exist in China, but we can ascertain from their fiscal policy and domestic programs, that the Chinese elite serve the people before they serve themselves. Service is a privilege and a responsibility, not a right! Something the West has forgotten.

Further, the Chinese seem to have given great importance to history. Having learned from it, they are seemingly trying to apply the best qualities of capitalism and humanitarianism to hopefully create a win-win for the whole world. At least their actions are in sync with their words.

Whomever said that everyone has to be poor so that one can be rich, is filth! At one time in the Great British Empire filth was an acronym for (Failed In London Try Hongkong). Look where they are now.

A wise man once said, "The greatest evil in the world is ignorance." Peace.

Blunt Force Trauma

...speaking of dollars...

The Canadian 'Loonie' is under par with the 'Greenback' this morning at .9959 I'm guessing she's falling due to exports being more costly to the U.S. and the U.S. is buying less Canadian goods(?).

blues

Global Research, December 3, 2007
Confessions of a Covert Agent
http://www.globalresearch.ca/index.php?context=va&aid=7525

~Everything I've done has been highly classified, all black programs and black operations. Some people I know thought I worked for the CIA, but it's much more complicated than that. I've worked with people in the CIA, DIA, NSC, NSA, SAIC, Army Intel and many more lesser known agencies within the intelligence apparatus.~

~Before focusing on PsyOps I started out running covert combat missions, special operations. I was good at what I did and rose through the ranks fast. When the "War on Terror" started I was paid a lot of money to consult with private military contractors. When private paramilitary units needed to get the jobs done that paid the most money they would come to me with checkbooks filled with US taxpayer dough.~

~I've seen the worst things imaginable, hell on earth. Had friends die in my arms. Seen piles of rotten corpses. Seen men, women and children tortured. I've seen the eyes of terrified and confused children being sold into a vicious life of slavery and an early death.~


Honestly, this guy's confession is perfectly astonishing. It has affected my outlook, and not very much does this of late! A little more:


~A little side note for you: I firmly believe Robert Gates, the current Secretary of Defense and Bush Sr.'s right-hand man in the covert world, used computer cryptography and software security assets to get Bush Jr. elected both times. I do not have direct knowledge of the operation, but research "Robert Gates," "Bill Owens," "electronic voting security," "HAVA," "VoteHere" and "Scientific Applications International Corp." [We will post more on this in the near future.] The operation went so well that Gates was going to be made the first ever Director of National Intelligence. He turned down the job, but then took the Secretary of Defense position when Rumsfeld was removed from his public position. I don't think there will ever be solid evidence linking directly to members of the administration; it's all a tangled web of plausible deniability. But I do think it will eventually be proven that the elections were manipulated to deliver Bush the victory. Many people in the covert world take this for granted, as common sense. [!!!»]Please don't confuse this as partisan propaganda. I don't give a shit about the Democrat or Republican PsyOps mind-fuck dynamic. They're just labels to divide a potentially powerful united US public.[«!!!]~

JSmith

"the Chinese elite serve the people before they serve themselves"

That's pretty damn funny. Good joke to start the week!

The Chinese missed a great opportunity when they refused to let Kitty Hawk make a Thanksgiving port call. They could have easily let the ship dock... and then held it there.

Carli

Yes JS, making deals through diplomacy, while focusing on growth rather than wanton destruction based on lies and greed is a good way to provide food and a future for the people you serve. China would not be where it is today otherwise. Take note they haven't had the pleasure of being world bullies. In fact, history will support that they were bullied by the West for quite a few centuries.

What is funny is finding out there are people still asleep after 7 years of Bush. The joke is on them. What to do? It happens in the best of families, brother.

OC

Blue,

That was rather obvious on the part of Bush - he always wanted to start a war on any pretext and the Chinese are smarter than that...that is why they turn Kitty Hawk away and slap him in the face.
Look at his reply - drive Kitty Hawk through the Straits of Taiwan... after the Chinese prove American warships can't detect Chinese submarines and they are not afraid of him : is the best he can do?? Would u call this a Plan B???

OC

Blue,

My apologies - I mean to address JSmith.

My point is that the Chinese is making or scoring points in a deliberate and considered manner. They are demonstrating to the rest of the world that they are in charge and in control while Bush is demonstrating that he is firefighting and had lost control without any show of world class leadership to other nations

shargash

Paul Craig Roberts had an interesting post recently (http://vdare.com/roberts/071127_destruction.htm):

Roberts: "Hubris and arrogance are too ensconced in Washington for policymakers to be aware of the economic policy trap in which they have placed the US economy. If the subprime mortgage meltdown is half as bad as predicted, low US interest rates will be required in order to contain the crisis. But if the dollar’s plight is half as bad as predicted, high US interest rates will be required if foreigners are to continue to hold dollars and to finance US budget and trade deficits."

He believes policy makers will choose to defend the dollar "to protect Washington’s ability to borrow abroad. Without the ability to borrow abroad, Washington cannot conduct its wars of aggression, and Americans cannot continue to consume $800 billion dollars more each year than the economy produces."

I believe he is right that, eventually, they will be forced to defend the dollar. However, never underestimate the tendency of arrogant and greedy people to try to have their cake and eat it too. I think they will drive down interest rates to create a new bubble in an attempt to save the economy (well, to save their own investments anyway), and then try to patch things up afterwards so they can borrow and spend like drunken sailors for a while longer.

They will fail for a host of reasons, too numerous to go into in a comment, but most of which boil down to the fact that they aren't in control of their own desinties. Other countries are, as well as Mr. Smith's invisible hand.

OC

Shargash,

Just bear in mind that if they had to borrow after thrashing the USD, they have to go to China-Japan Alliance or ME (by that time under control of the China-Japan Alliance)...not much choice really.

EU might be totally under influence of Russia who still have a score to settle with US.

Just like the British was made to dismantle their empire....definitely Pax China within our lifetime!!

Elaine Supkis

And coming up here: the world price of oil is falling because the entire planet is LAUGHING at Bush because the hysteria over Iran kitty's nukes has collapsed.

I hope Iran liberalizes as well as learning, like the Chinese, to cease being so prickly and difficult. I know Iranians and they tend to be very interested in making money. This isn't a country culture that hates the joys of civilization, no, it is like China, a very ancient, proud and financially astute civilization. A lot of our more subtle cultural things like mathematics came from India via Persia.

JSmith

"Yes JS, making deals through diplomacy, while focusing on growth rather than wanton destruction based on lies and greed is a good way to provide food and a future for the people you serve."

This just in: China has an income gap. That means there are a few people in the major cities who are doing very well indeed, while the peasants in the countryside... are doing not so well.

Did you know China is Rolls-Royce's fastest-growing market? That buzzing sound you hear is old Mousie-Dung spinning in his glass case.

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