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 [闲聊] "Now Beijing must let the yuan rise" |
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Haven
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作者：Haven 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Economist in its Apr 8's issue has an article on yuan. Its message is the cliche that yuan revaluation/appreciation will do China good, so it's in China's own interests to let yuan revalue. It's funny to see how 'considerate', though with the usual condescending tone, the editorial is towards China, the dragon (aka monster from the east) that rises to challenge the old clan of western world.
I found the comments from this guy (apparently a Chinese guy living in the States; look at his ID) very lucid and compelling.
Quote:
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Zhubajie wrote: Apr 8th 2010 8:41 GMT
This new round of bilateral pressure is nothing less than the Brits pushing opium on China in the days of yore. American politics is owned and ran by the banksters, who through the revolving door policy occupy leadership positions in its government, and all who stand in their way are neutralized. Wall Street had for years benefited from this incestuous arrangement - hedge funds in recent years had the motto of "Let no crisis go to waste!" Folks like Soros (x1000) roam the world and make billions from the financial ruins of nations and their people, many of such troubles created with the assistance of Washington - when words aren't enough, America never hesitated in using force, but never without the sharks first setting up financial gigs beforehand to harvest the fallout. The new military industry complex has gone post-industrial, and today extends to the financial industry.
Why are the Western nations so gungho about floating the Yuan? It has nothing to do with trade (world trade is actually a rather small percentage of total world GDP). It has everything to do with being able to sabotage the Chinese currency freely, with help from Washington.
China had been pretty much insulated from the latest massive fraud of the Western banksters, thanks to the present arrangement. The banksters today are still running CDS fraud schemes to the tune of hundreds of TRILLIONS of dollars at face value. These fraudsters have no morals, and do not care at all about killing entire national economies - President Obama admits that in America alone the financial debacle meant 8 million lost jobs. That's what they do to their own nation, you can imagine what they do outside America - and recent history is littered with such "assisted" financial ruins, and some banksters making off with billions again, even as real people suffer. Any attempt by the West to "open up" China's finance market is nothing more than a rapist ordering the intended victim to remove all clothes.
China's financial system is no match for the unlawfully subsidized American counterpart, where the banksters got $14 Trillion in subsidies just in 2009 ($2T in cash and the rest in government guarantees). That is almost 3 times China's GDP. How could the Chinese industry hope to survive against such unfair competition? If there is going to be opening, it has to wait till the case against subsidies wind through the WTO.
China's history is such that when a foreigner comes preaching "Do this, do that, it'd be good for you . . . ", it'd be time to bolt the door and take extra care.
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Pressuring China on the Yuan is truly barking up the wrong tree. America's real problem is the Bankster clan, who has now been at it for several decades, trying to virtualize everything - especially the pocketbook of the average American consumer, turning your ownership into theirs. Pushing up the Yuan would be ripping the rest of America off to put more dough in the banksters’ pockets. Crime without victims? You be the judge.
In America consumption accounts for 70% of the GDP. IF consumer prices, especially that for the Wal-Mart type daily essentials, go up 100%, even if just in the short run, what do you think will be the effect on Main Street, especially that for the lower income echelons? Remember the late last year stampede at the Wal-Mart in Calif. for the extra 10% discount that actually killed the security guard? With most Americans having guns, the picture is not going to be pretty, and there simply is not enough police force to handle any sort of major social unrest (Katrina should be instructional). So what would Washington do? Bring soldiers sitting on turrets who train their machine guns on the American civilians? That is unthinkable (or is it - go look at the Katrina pictures).
The hard work of the Chinese workers brought Americans 30 years of good life - almost no inflation, wonderful appreciation of the stock markets and the real estate markets. It was the Americans’ chance to take advantage of that and do wonderful things, such as upgrade the education system, developed more high tech manufacturing to replace the T-shirt sewing that moved offshore decades ago, etc., all while the nation can comfortably afford it. Instead Americans allowed the greedy pols to run the nation into the ground.
This latest round of China bashing is yet another feeble attempt to divert attention from how badly the hapless Washington screwed up - instead of PUNISHING the fraudsters (the banksters), between W and Wobama (Obama with “W” characteristics) they threw yet another $14 Trillion (printed out of thin air by fiat, backed by nothing other than a vague promise for future generations of Americans to pay) to throw at the banksters, which enabled record bonuses 2 years in a row (2008 and 2009, with ‘09 bonuses totaling US$20 Billion just for the few big Wall Street firms, and much more for all the banksters together), even as Rome burns.
Yet when Prez. Obama started to talk about bank reform, the banksters openly threatened to withhold hundreds of millions of dollars of bribes (nee campaign contribution) to the Dems - "We'd give it to those who appreciate us!" came the shrill pitched reply. Within days, Obama had to go on TV to publicly apologize and fawn, swearing allegiance to the Bankster clan, making it clear that he does not begrudge the high salaries and that the bankers are worth every penny of it. It was unseemly and sad how powerless even the American president is before the clan.
Protectionism hurts mostly Americans, as the tariffs inflate end user prices.. Don’t be the sheep that just bleat when the demagogues try to divert your attention. China is not the problem. China is the necessary input factor (well priced, affordable consumer goods to keep inflation down, and continued financial support to Washington) so that America can afford to do reforms. You want manufacturing – it should NOT be low cost manufacturing that would never (and should never) come back to America (T-shirt sewing at 5 cents a shirt, or sneakers manufacturing at 15 cents a pair, etc.). Instead, it should be a no holds barred race to the top, making use of America’s comparative advantages.
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The banksters continue to be reckless as ever. The word on the street is that the next debacle comes from GOLD, and this could drag down another house-of-cards or three, UNLESS of course there's more of the illegal (by WTO standards) subsidies to the tune of trillions of dollars. This time around, supposedly the banksters sold naked contracts on the short side (much like AIG's bet that CDS insurance premiums are "found money." Except the amount of contracts now cover 100 times the physical gold available. In other words, it is like selling a house 100 times over, betting that the price would go down - if that is not outright fraud, you'd have to redefine the word. Complaints were made to the CFTC, the commodities regulaors. But just like the complaints to the SEC about Madoff, NOTHING happened, because in America and England literally the foxes built and now operate the hen houses.
"The whistle-blower in this biggest gold fraud was Andrew Maguire, an experienced precious metal trader in London.
* * *
The CFTC hearing confirmed what GATA has been saying all along, that the gold market is being manipulated. And, how? The gold cartel has accumulated a huge short position and the huge short positions are ‘naked’, which means these positions are not hedged. There is 100-times more paper-gold outstanding than physical gold. "
The curios fact about commodity contracts on the short side is that theoretically the buy side can demand physical delivery. If there is concerted demand, it would be a physical impossibility to come up with 100 times the physical gold currently available.
The banksters are, collectively, in a position of 10 bottles and 8 caps. That's why they are recklessly pushing China to "open up" the Yuan for them to pillage. Should China decide to do so, it MUST be after the legislation for adequate protection. What comes to mind is the more vigorous definition and enforcement against financial fraud - mandatory sentences for the CEO of the entity involved, death sentence for fraud above $10 million, treble damages calculated on the face amount of the fraud, etc., would be a good start.
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Zhubajie wrote: Apr 9th 2010 4:07 GMT Sorry that house analogy is inaccurate - as it suggests that the seller owns the house. In the current gold fraud, the banksters own no gold sufficient to cover the short contracts. So the better analogy is that they sold the neighbor's house (which they have no claim over) 100 times.
作者：Haven 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [闲聊] "Now Beijing must let the yuan rise" -- Haven - (9494 Byte) 2010-4-15 周四, 21:52 (1546 reads) - 学英语, -- 筋斗云 - (0 Byte) 2010-4-16 周五, 08:08 (211 reads)
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