Posts tagged Chinese
South Korean leader Lee Myung-Bak has urged the country’s officials to ‘stand well prepared’ for a third nuclear test by North Korea, according to Yonhap news agency. The test is believed to take place before Lunar New Year starts on February 10.
The calls followed the South Korean President’s meeting with his top security advisers, who reportedly passed him information, which could indicate North Korean preparations for another nuclear test.
Recent satellite photos showed unusually busy activity at the north-eastern nuclear test facility Punggye-ri, which is the country’s only atomic test site, South Korea said. North Korea has allegedly covered the entrance to a tunnel there in an apparent attempt to block satellite monitoring.
The North has meanwhile installed two lookout towers equipped with surveillance cameras, Seoul also says. Both 60-meter-tall installations are designed to monitor the activities of the South Korean army in the demilitarized zone, which divides the two countries.
Seoul’s chief nuclear envoy Lim Sung-Nam left for Beijing on Sunday to meet his Chinese colleague as part of last-minute diplomatic efforts to dissuade Pyongyang from another atomic test.
“We will assess the actions of the North after the adoption of UN Security Council Resolution No. 2087 (2013) and discuss our response”, Lim Sung-Nam declared before leaving.
Over the past week Pyongyang has issued a series of daily warnings threatening action over the UN sanctions imposed for a long-range rocket launch last December. North Korea has pledged the “toughest retaliation” if these are not lifted.
The North also slammed the upcoming joint naval drill by the US and its ally South Korea as “war exercises” aimed at invading the isolated state. The military exercises, widely considered by observers as a warning to the country, are due to start on February 4 in the Sea of Japan (East Sea) off the South Korean port city of Pohang. A US nuclear-powered submarine and other warships are expected to take part.
The IMF has confirmed the Yuan/Renminbi is set to become a Global Reserve Currency at an Economic Forum in Hong Kong.
With China’s economy gaining global strength, the renminbi is set to become a global reserve currency, Zhu Min, deputy managing director of the International Monetary Fund, said Tuesday at an economic forum in Hong Kong.
Yesterday I wrote about the crossborder loans China was doing, before the Yuan becomes a Reserve Currency, their saying the “unloved dollar’ and the amount of gold they are importing. Besides the rumors of them backing their currency by gold.
David mentioned that things take time to happen and as I add on the third part of the interview is that it already has been years and maybe the situation will start going faster.
It seems to me with the Yuan being called a Global Reserve currency now even by China itself, they have laid out the ground work for changes to be made in a short amount of time. China does not reveal their hand until everything is already said and done. Considering the dollar has been the only “Global Reserve” currency for decades but this month the Yuan is becoming attached with that name.
The dollar demise has been talked about for years now. Many had been saying “anytime” but it has been long and drawn out. China is very smart as they take their time and put everything in place before they reveal or make their big moves. Has the time now come?
The Premier of China had gone to Saudi Arabi and Dubai a year ago. He stayed a week there having meetings and making agreements.SHARJAH, UAE -
China signed economic and trade agreements worth 100 billion yuan ($16billion) with Saudi Arabia
and the United Arab Emirates (UAE) as Premier Wen Jiabao wrapped up a six-day visit to the Middle East on Thursday.
The first currency swap agreement with Arab nations, worth 35 billion yuan, was also signed inAbu Dhabi, Wen told the Fourth
Arab-China Business Conference in Sharjah on Wednesday.
Are those agreements now coming into fruition? Is Saudi Arabi ready to be one of the last Middle Eastern countries to trade in something other than the “Petrol Dollar?” If Saudi Arabia begins oil trade in something other than the dollar, then it really is game over for the dollar as the Global Reserve Currency and any strength it now has. It only has strength because all of the other countries are devaluing their currencies against the dollar for trade. With the Fed printing the dollar non-stop, currency wars are raging, no one wants to have the strong currency due to trade and their products being un-affordable to other countries.
But once the dollar is no longer a worry or concern for trade then all the other countries will be able to stop their currency devaluations against the dollar because a new Global Currency backed by Gold will be the hero of the world. The only country that will be left all to itself with their inflating currency will be the United States.
It seems the proximity of this occurrence is now much closer with both the IMF and China itself using the words “Global Reserve Currency” for the Yuan.
It is the first time I am seeing the words from China that comes right out and says what the plans for the Yuan is.
The first batch of cross-border yuan loans agreements were signed on Monday after the central government approved the Qianhai area in Shenzhen to test a freer yuan before it becomes a global reserve currency.
As the loans come from Hong Kong, the move is a test offurther capital accounts opening by allowing offshore funds tobe transferred to the mainland.
Previously, offshore yuan could flow back to the mainland only through yuan-denominated trade and renminbi qualified foreign institutional investors.He added that the yuan is marching gradually and steadily toward becoming a global currency,and he expects more breakthroughs on that front this year.
They have never said “Global Reserve Currency” before. They have said “Convertible currency” and other words.
China has actually imported more gold and silver than they admit to. They imported an estimated 1000 tons of gold over the last few years but experts believe it was much more than that. They have also been importing silver in major quantities that are not being revealed. I read a story the other day about someone in China trying to buy silver and gold bullion but the place was nuts with crowds all trying to buy the gold and silver the dealer had just gotten.
Jim Willie did an interview last week and he mentioned that China was going to take it slow and not be totally overt in becoming the Global currency because they don’t want the U.S. to start a war for some made up reason against china.
unconfirmed speculation” that China – the world’s number one producer and second-placed consumer (at the moment) – is gearing up to buy up to at least 5,000 to 6,000 tonnes starting before the end of the year.
Silver is huge in China too. There has been a lot of talk in the “silver world” saying there is a major shortage. Besides the fact that the 2013 Eagles sales have been suspended due to over 5 million orders in the first few days of 2013. The majority of silver mined is used for industrial purposes and it seems there is a shortage happening.
The writing is on the wall. China plans on having a Gold backed Global Reserve Currency. I have written about the agreements China has with other countries and has already began trading in Yuan instead of dollars. The BRICS began those trades last year. The only thing that is keeping the dollar as the “reserve currency” right now is because it is the “Petrol Dollar.” Saudi Arabia is the reason the dollar is still the oil trading currency. Is it any wonder that Obama bows to the King of Saudi Arabia as the U.S. is obviously beholden to them otherwise it would not still be the official reserve currency of the world.
Once Saudi Arabia decides to go with the rest of the world and begins using other currencies for oil as India, Iran, Russia and China already do…. it will be game over for the dollar.
Obviously the day is getting closer since the article says “Global Reserve Currency” from China Daily. Again they have never used those words before from what I have seen. They have used “Global convertible currency.” Remember China purchased the London Metals exchange last year, which began using the Yuan and the CME began added the Yuan as a trading currency last year too
China holds things very close to their chest in information and they don’t put information out normally until deals are done. So with them allowing “Global Reserve Currency” words out, what deals have been done already and how fast will it all go down and the dollar with it?
Some of my favorite metals sites are: David Morgan of Silver-Investor always has great information about Silver and what is really going on. I go to Gata, Got Gold Report , and 24 hour Gold for the latest in gold information.
Few probably are aware of this, but long time subscribers to The Morgan Report (TMR) were notified that a meeting had taken place in South East Asia roughly a decade ago discussing — you guessed it –A GOLD BACKED YUAN.
Edit to add: I found another article today on the same Chinese News site – Their frustration with the dollar titled “The Unloved Dollar”
But the dollar’s role as international anchor is beginning to falter, as emerging markets everywhere grow increasingly frustrated by the Fed’s near-zero interest-rate policy, which has caused a flood of “hot” capital inflows from the United States. That, in turn, has fueled sharp exchange-rate appreciation and a loss of international competitiveness – unless the affected central banks intervene to buy dollars.
Wow – they have really put out information now as I have never seen before and the two articles being out on the same day…… says something is already happening, we just don’t know the full extent yet. But I have a feeling since they have come right out and said “Reserve Currency” and “Unloved Dollar” whatever the changes of Currency will happen this year.
Obama to Top Brass: Will you fire on American Citizens?
The Obama administration is openly escalating its campaign against private gun ownership, and shaking up the top ranks of the military command structure — but is it also preparing to make war on the American population? According to a person identified as a former senior military official, the answer to that shocking question is yes.
World-renowned educator and human rights activist Jim Garrow says that the source, man regarded as “one of America’s foremost military heroes,” told him that President Obama is using a new litmus test for “determining who will stay and who must go” among top-ranked military leaders. That test is whether they will fire on US citizens or not. Garrow says that his source made the disclosure in order to “sound the alarm” over the administration’s plans.
While Garrow will not yet reveal the identity of the source, it’s important to note that Garrow himself is a man of considerable accomplishment. He is the founder of the Bethune Institute, which has established hundreds of schools throughout China. Three years ago, he was nominated for the Nobel Peace Prize for his work though a group called Pink Pagoda, which combat “gendercide” in China — that is, the practice of rescuing baby girls who had been abandoned or targeted for infanticide because of the government’s one-child policy. He was personally involved in helping to save the lives of more than 50,000 Chinese girls. He joins Gary Franchi on WHDT World News to discuss this new “Litmus Test.”
Next News Network’s WHDT World News Program airs daily at 6pm and 11pm Eastern on Comcast, DirecTV and Over-the-Air and Online at http://usmediavault.com/
The National Association of Realtors (NAR) is reporting that thanks to foreign investors, the housing market is beginning to make a recovery. These non-American buyers have purchased $82 billion worth of US homes with $7 billion being Chinese and the second largest investors to the Canadians.
Chinese business owners and possibly government representatives are acquiring a large amount of American real estate with $2 billion in commercial properties in 2011.
The NAR also says that Japanese investors are “buying up America’s landmarks” which has been hailed as an “economic miracle”. The Japanese are interested in owning “high-priced hotels, golf courses, office buildings and condominiums.”
Since 1993, the Japanese have been able to assist the American investor in purchasing “distressed assets” (i.e. foreclosed real estate) by lowering the market values which created astronomically low purchase prices. Now the Chinese from Hong Kong are bringing their money to American shores, buying up properties at an alarming rate.
Canadian investment in US real estate has between 1994 to 1998 to 20.0% along with Germany and the Netherlands.
The NAR praises this boom in foreign investors are a conceptual move from traditional to non-traditional investing. New York is seeing an obvious increase in sales to foreign investors which as contributed to the increasing pace of real estate transactions; while not increasing the value of those properties.
CB Richard Ellis, global real estate advisory firm, asserts that foreign money flooding the US real estate markets means a 1.5% increase to Americans. As property in America is moved into the hands of Asian business-owners and government representatives large portions of New York City, Washington DC, Boston and San Francisco are disappearing from the control of Americans.
In the Miami and Fort Lauderdale areas of Florida 10% of client investors are foreign which accounts for 50% of their business transactions. This trend has been going strong since 2010.
This move is touted as an attempt to turn foreign currency from the implosion being committed in the Euro-Zone. And in protecting their ability to use their fiat currency, investing in hard assets (i.e. property, land) is ensuring the wealthy remain so regardless of whether or not fiat currencies are destroyed across the globe.
The Obama administration is pushing for auctions of foreclosed to foreign investors in bulk sales. The foreclosed properties held by Fannie Mae, Freddie Mac and the Federal Housing Agency (FHA) are of the utmost importance to unload onto foreign investors. By setting the stage for easy money from foreign investors, Obama ensures that those investments are given a major return as more properties are given up for rent rather than resold.
This caught my eye and not possessing a gift to see into the future I am unable to laugh at the man or cry with him. Still in search of the crystal ball that is about the fortune telling function and not just a desktop fashion statement. Shopping tips always appreciated Also, comments will be discontinued after 12/20/2012, as anyone can analyze and predict “yesterday”, other than the main stream media that is. Here is a toast to 12/21/2012, whatever it may bring, based on current politics, could only be an improvement!
RT.com offers up the story below…
Chinese man blows life savings on ark to escape Apocalypse
Lu Zhengai is so scared by the Mayan apocalypse, that’s he’s spent all his money – $160,000 – on building his very own Noah’s Ark.
The barely sea worthy boat, which he claims will save him and his family when flood waters destroy his house, was designed by Lu himself, measures 65 feet and will weigh 80 tons when finished, according to Chinese media.
Land lubber Lu, who lives in the Xinjiang Uyghur autonomous region of China – thousands of miles from the sea, began building the boat out of fear for the “doomsday” floods, predicted by the Maya calendar for December 21, 2012.
“I’m afraid that when the end of the world comes in 2012, flood waters will destroy my house, so I took my life savings and invested in the construction of this boat. When the time comes everyone can take refuge in it,” he told the Chinese News Service.
But Lu is not alone, in August the New York Daily News reported that another Chinese man spent two years creating a very different Noah’s Ark – a tough, buoyant yellow ball, perhaps better designed to cope with tsunamis and giant ocean swells than Lu’s flat bottomed barge.
By Patrick Henningsen
21st Century Wire
How does it make you feel when you see people fight like animals – over something like a new iPhone or Samsung mobile phone?
You can tell the health of the tree by the quality of its fruits. America, as is evidenced by this week’s annual materialistic ritual known as ‘Black Friday’, has produced this particularly rotten fruit, consistently. It’s getting way too predictable for our liking.
The name “Black” joined with Friday, in itself, is worth looking at – in all its Satanic symbolism.
Why do they try to market this event as some sort of national holiday and call it “Black”?
It all started with the Cabbage Patch Doll uprisings back in the 1980′s. It seemed like a fluke at the time. But the trend has raged on, and on. An epic battle for a load of cheap plastic made in China and Vietnam, mostly by women and children on a dollar a day.
Quite simply, it’s a victory for worldly goods, over humanity, as people worship brands like gods for sale. The devil’s handiwork, no less.
In reality, Black Friday is nothing more than a collective con – a nonevent, made to appear as an event.
American wage slaves who have witnessed such riots like in the videos below, should know by now that America’s once coveted status as the progressive world’s cultural leader – more and more it’s looking like ‘American exceptionalism’ could be the stuff of 20th century history already.
Those who have taken part in the Black Friday ritual should also know that their rulers are indeed laughing at them right now – as they watch their social engineering master plan come to fruition – reduced to a shallow pulp of mindless consumerism currently in the process of eating itself.
The remaining, mentally challenged chattering classes, will also watch these ugly scenes and then sit and argue whether Black Friday riots are the result of an Obama or Romney victory, as if. This level of sub-intelligence is what killed American democracy – another victory for the elite.
On a foreign policy note, if you are an Arab watching these scenes below, you might want to ask yourself, if this is what Barak Obama and Hillary Clinton were talking about when they waxed lyrical during your Arab Spring (that wasn’t) about the virtues of exporting ”American values of freedom and democracy”?
Imagine when the dollar collapses – how ugly would that look. Empty supermarket shelves. How would Americans treat each other then?
It’s become a pathetic tradition, in what is way past the point of national embarrassment, but it’s not – instead, they promote it…
Watch as it gets even uglier…
After falling behind Asia and Europe in the great race, where success is measured in FLOPS (floating-point operations per second), the US has struck back at the new high-tech Olympians with Titan: quite possibly the fastest supercomputer in the world.
When Tennesseans hear the word Titan, their first thought is going to be gains on the gridiron, rather than leaps and bounds on the field of science.
All of that might now change, as a new supercomputing giant hailing from the Smokey Mountains was unveiled by the US Department of Energy’s (DOE) on Monday.
More than 10 times faster and five times more energy efficient than its predecessor Jaguar, Titan is the brainchild of the DOE’s Oak Ridge National Laboratory (ORNL), nestled in the Tennessee highlands.
Titan’s theoretical peak is 20 petaflops – 20 quadrillion calculations per second – with 299,008 CPUs (central processing units) and 18,688 graphics processing units (GPUs) spinning at breakneck speeds to make to make scientific breakthroughs in record times.
Titan’s blistering computation speed will be the equivalent of “the world’s 7 billion people being able to carry out 3 million calculations per second,” ORNL says.
Titan’s precursor Jaguar – which was developed by the Seattle-based Cray Inc. – was the fastest supercomputer in the world in June 2010, though it was later outclassed by the Chinese Tianhe-1A several months later.
The fastest computer to date is currently the California-based IBM Sequoia, which whirred to the 16.32 petaflops mark in June.
Titan also boosts more than 700 terabytes of memory, and will be manage higher energy efficiency than Jaguar by innovatively combining CPUs and the more recent GPUs to synergistic effect.
Power limits have long served to trammel those looking to break world records in the great computational race. Jaguar’s 2.3 petaflops needed 7 megawatts of energy – enough to power a small town.
At $7 million dollars a year, Jaguar’s electric bill was nothing to scoff at. Titan – essentially an upgraded version of Jaguar housed in the same 200 cabinets arranged very much like a locker room – will hit nearly 10 times the speed while consuming roughly nine megawatts. That makes Titan approximately five times more energy efficient than its previous incarnation.
The race to outclass the Chinese and other international competitors has driven Titan’s development forward, though as an open-science system, its benefits will be global.
“American competitiveness is very important from a global security and national security perspective,” Jeffrey Nichols, associate laboratory director for the computing and computational sciences directorate at ORNL, told PCWorld in an interview.
“It’s absolutely important that we are competitive in this high-tech field so the science solutions we are solving are competitive and put us on the leading edge of where we need to be in solving these problems,” he continued.
With Titan poised to help the US conduct research in areas like biosciences, climate change, nuclear energy and space, Nichols believes Oak Ridge has “developers that can use these machines at scale,” while China’s economic development model precludes it from reaching its research potential.
But researchers, academics, government labs and a large swath of industries seeking to expedite the scientific method via Titan’s ability to use a powerful computational model of varied natural systems are welcome to give it a spin.
Bet this won’t be on MSM any time soon.
It is estimated by 2015 the Yuan/Renminbi will be a currency traded fully and internationally.
With all the unlimited printing of the dollar 2015 might come faster.
A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China’s successful bid to internationalize its currency, a research report has said.
And now seven out of 10 economies in the region — including South Korea, Indonesia, Malaysia, Singapore and Thailand — track the renminbi more closely than they do the US dollar. Only three economies in the group — Hong Kong, Vietnam, and Mongolia — still have currencies following the dollar more closely than the renminbi, said the report, posted on the institute’s website.
Wang Jianhui, chief economist with Southwest Securities Co Ltd, agreed. “Investors are looking for new reserve currencies at a time when both the dollar and euro are under pressure. This is a good opportunity for the yuan,” he said.
The Royal Bank of Scotland predicted in a report on Monday that renminbi will become a fully convertible currency in 2015.
Cross-border trade settled in renminbi will triple to 6.5 trillion yuan ($1.03 trillion) within three years as relations with the world’s second-largest economy grow, Royal Bank of Scotland Group PLC was quoted as saying by Bloomberg on Oct 9.
Settlements will grow 12 to 20 percent this year, reaching $1.03 trillion in two years, up from $330.8 billion in 2011, said Janet Ming, head of the China desk for RBS in Europe, Middle East and Africa.
In fact, trade is also propelling the rise of the renminbi outside East Asia. The currencies of India, Chile, Israel, South Africa and Turkey all now follow the renminbi closely, in some cases, more so than the dollar. The renminbi would be more attractive if the country could further liberalize its financial and currency markets, the report said.
“Legalized Plunder of the American People” – G. Edward Griffin
Published on Oct 2, 2012 by CaseyResearchFAN
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G. Edward Griffin discusses the Federal Reserve and it’s role in the declining economy at the recently concluded conference, Navigating the Politicized Economy.
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