Posts tagged stability
Top Adviser To The Chinese Government Calls For A “Global Currency” To Replace The U.S. Dollar
The former chief economist at the World Bank, Justin Yifu Lin, is advising the Chinese government that the time has come for a single global currency. Lin, who is also a professor at Peking University, says that the U.S. dollar “is the root cause of global financial and economic crises” and that moving to a “global super-currency” will bring much needed stability to the global financial system. And considering how recklessly the Federal Reserve has been pumping money into the global financial system and how recklessly the U.S. government has been going into debt, it is hard to argue with his logic. Why would anyone want to trust the United States to continue to run things after how badly we have abused our position? The United States has greatly benefited from having the de facto reserve currency of the planet for the past several decades, but now that era is coming to an end. In fact, the central bank of China has already announced that it will no longer be stockpiling more U.S. dollars. The rest of the world is getting tired of playing our game. Our debt is wildly out of control and we are creating money as if there was no tomorrow. As the rest of the world starts moving away from the U.S. dollar, global power is going to shift even more to the East, and that is going to have very serious consequences for ordinary Americans.
Sadly, most Americans don’t even realize what is happening. These comments by a top adviser to the Chinese government should have made front page news all over the nation. I had to go to China Daily to find the following excerpt…
The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.
“The dominance of the greenback is the root cause of global financial and economic crises,” Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. “The solution to this is to replace the national currency with a global currency.”
Lin, now a professor at Peking University and a leading adviser to the Chinese government, said expanding the basket of major reserve currencies — the dollar, the euro, the Japanese yen and pound sterling — will not address the consequences of a financial crisis. Internationalizing the Chinese currency is not the answer, either, he said.
And this is not the first time that we have heard these kinds of comments coming out of China. For example, Xinhua News Agency called for a “de-Americanized world” back on October 14th…
“It is perhaps a good time for the befuddled world to start considering building a de-Americanized world.”
That particular news agency is controlled by the Chinese government, and if the Chinese government did not approve of that statement it never would have made it into the paper.
Then in November, the central bank of China announced that it is going to stop stockpiling U.S. dollars.
Most Americans don’t want to hear this, but what we are witnessing is a massive shift in global power. China is catching up to us in a multitude of ways, and they are getting tired of playing second fiddle to the United States. In fact, China is already surpassing the U.S. in a number of key areas…
-China accounts for more global trade than anyone else in the world.
-China imports more oil from Saudi Arabia than anyone else in the world.
-China imports more oil overall than anyone else in the world.
-It is now being projected that Chinese GDP will surpass U.S. GDP in 2017.
When the rest of the world quits using U.S. dollars to trade with one another and quits lending our dollars back to us at ultra-low interest rates, things are going to start changing very rapidly.
In a previous article, I discussed why having the reserve currency of the world is so important to the United States…
The largest exporting nations such as Saudi Arabia (oil) and China (cheap plastic trinkets at Wal-Mart) end up with massive piles of U.S. dollars.
Instead of just sitting on all of that cash, these exporting nations often reinvest much of that cash into low risk securities that can be rapidly turned back into dollars if necessary. For a very long time, U.S. Treasury bonds have been considered to be the perfect way to do this. This has created tremendous demand for U.S. government debt and has helped keep interest rates super low. So every year, massive amounts of money that gets sent out of the country ends up being loaned back to the U.S. Treasury at super low interest rates.
And it has been a very good thing for the U.S. economy that the federal government has been able to borrow money so cheaply, because the interest rate on 10 year U.S. Treasuries affects thousands upon thousands of other interest rates throughout our financial system. For example, as the rate on 10 year U.S. Treasuries has risen in recent months, so have the rates on U.S. home mortgages.
Our entire way of life in the United States depends upon this game continuing. We must have the rest of the world use our currency and loan it back to us at ultra low interest rates. At this point we have painted ourselves into a corner by accumulating so much debt. We simply cannot afford to have rates rise significantly.
As the rest of the globe moves away from the dollar, demand for the dollar is going to go down and that is going to cause a lot of inflation – especially for imported goods. So the days of piling lots of cheap plastic stuff made in China into your shopping carts is coming to an end.
And as the rest of the globe moves away from U.S. debt, interest rates are going to go much higher than they are today. Eventually, the U.S. government will be paying out more than a trillion dollars a year just in interest on the national debt and all loans throughout our entire financial system will have higher interest rates. This is going to cause economic activity to slow down dramatically.
On the global economic stage, China is playing checkers and we are playing chess, and we are getting dangerously close to checkmate.
Meanwhile, China is also rapidly catching up to us militarily.
At a time when U.S. military spending is actually decreasing, China is spending money on the military aggressively.
In 2014, Chinese military spending will rise to $148 billion, which represents an increase of 6 percent over 2013.
The balance of power is shifting right in front of our eyes.
For example, at one time the U.S. Navy reigned supreme and the Chinese Navy was a joke.
But now that is rapidly changing. The following is from an article posted on military.com…
The Chinese navy has 77 surface combatants, more than 60 submarines, 55 amphibious ships and about 85 missile-equipped small ships, according to the report first published by the U.S. Naval Institute. The report explains that more than 50 naval ships were “laid down, launched or commissioned” in 2013 and a similar number is planned for 2014.
Of particular concern is the growth of the Chinese submarine fleet. The Chinese now have submarine launched ballistic missiles with a maximum range of about 4,000 miles…
ONI raised concerns about China’s fast-growing submarine force, to include the Jin-class ballistic nuclear submarines, which will likely commence deterrent patrols in 2014, according to the report. The expected operational deployment of the Jin SSBN “would mark China’s first credible at-sea-second-strike nuclear capability,” the report states.
The submarine would fire the JL-2 submarine launched ballistic missile, which has a range of 4,000 nautical miles and would “enable the Jin to strike Hawaii, Alaska and possibly western portions of CONUS [continental United States] from East Asian waters,” ONI assessed.
In addition, China is also working on “hypersonic glide vehicles” that can travel “at speeds of up to Mach 10 or 7,680 miles an hour”. The following is an excerpt from a recent Washington Free Beacon article…
The Washington Free Beacon first disclosed China’s Jan. 9 flight test of a hypersonic glide vehicle that the Pentagon has called the WU-14.
The experimental weapon is a new strategic strike capability China’s military is developing that is designed to defeat U.S. missile defenses. China could use the vehicle for both nuclear and conventional precision strikes on targets, including aircraft carriers at sea.
U.S. officials said that, while the glide vehicle test was not an intelligence surprise, it showed China is moving much more rapidly than in the past in efforts to research, develop, and test advanced weaponry.
The world is changing, and the United States is not the only superpower anymore. China is thriving and Russia is also on the rise. Five years from now, the world is going to look far, far different than it does today.
In the end, most Americans will have no idea what is happening until it is far too late to do anything about it.
This article first appeared here at the The American Dream. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.
Image credit: http://endoftheamericandream.com
By Agence France-Presse
China has shut down websites, made a string of arrests and punished two popular microblogs after rumours of a coup linked to a major scandal that brought down a top politician.
Authorities closed 16 websites for spreading rumours of “military vehicles entering Beijing and something wrong going on in Beijing”, the official Xinhua news agency said, citing the state Internet information office.
Police arrested six people, while the country’s two most popular microblogs, run by Sina.com and Tencent, said they would stop users from posting comments to other people’s posts until Tuesday.
The crackdown follows a surge in unsubstantiated online rumours about a coup led by security chief Zhou Yongkang, following the March dismissal of rising political star Bo Xilai.
Analysts say the political drama has exposed divisions in the ruling Communist Party as it prepares for a key leadership transition later this year.
By Anthony Gucciardi
Monsanto’s reckless disregard for public health and the agricultural stability of the planet may be even more significant than previously thought. A shocking new report reveals how Monsanto’s Roundup is actually threatening the crop-yielding potential of the entire biosphere. The report reveals that glyphosate, which was developed by Monsanto in the early 1970s and is the active ingredient in its patented herbicide Roundup, may be irreversibly devastating the microbiodiversity of the soil – compromising the health of the entire planet, as a result.
New research published in the journal Current Microbiology highlights the extent to which glyphosate is altering, and in some cases destroying, the very microorganisms upon which the health of the soil, and – amazingly – the benefits of raw and fermented foods as a whole, depend. Concerningly, certain beneficial strains of bacteria used as food-starters in cultures for raw yogurt, such as Lactobacillus cremoris, have entirely disappeared from certain geographic regions where traditionally they were found in plenty. The study reports that the death and growth inhibition of selected food microorganisms was observed in concentrations of Roundup that are lower than are recommended in agricultural practice.
This means that farmers who are increasingly using larger and larger concentrations of Roundup and similar glyphosate-based herbicide formulations to countermand the increasingly resistant super weeds GM agriculture has spawned, are not only damaging the immediate health of the soil, but subsequent yields of indispensable food-starter microorganisms, as well as the microbes that ensure the overall fertility of the soil for producing crops well into the future.
Monsanto’s Roundup assaults the planetary biosphere
Microorganisms are responsible for much more than just the health content of raw and fermented foods. The most numerous inhabitants in the web of life, microorganisms participate quite literally “at the root” of the nitrogen, phosphate, oxygen and carbon cycles, and are therefore indispensable for the health of the entire biosphere. Astoundingly, there are an estimated 6,000,000,000,000,000,000,000,000,000,000 (6 x 10 to the 30th power) bacterial cells on the planet, and these soil microrganisms represent about 50 percent of the the total biodiversity in terms of numbers of species.
As Roundup usage threatens these soil microrganisms, including fungi and the mycellium (technically the largest organism in the world), it could lead to devastating implications. Compromising the health of the mycellium, in particular, may cause serious harm to the planet. According to prominent mycologist Paul Stamets, mycellium may actually act as a ‘network’ within the biosphere, acting as the Earth’s ‘natural internet’ in which virtually all organisms may rely upon. It has been recognized throughout the ages that all life depends on the soil. Without healthy soil, the health of the entire planet is at risk.
Charles E. Kelogg was one individual who stated such in the USDA yearbook back in 1939. Kelogg said:
“Essentially, all life depends upon the soil … There can be no life without soil and no soil without life; they have evolved together.”
Franklin Delano Roosevelt also voiced similar concerns, warning:
“The nation that destroys its soil, destroys itself.”
Based on an ever-increasing body of scientific evidence showing glyphosate biodegrades slowly, sinks down through the topsoil where it accumulates in the groundwater (source for natural drinking water, e.g. aquifers, springs), and is found in nearly all air and rain samples tested in the US, it is safe to say that Monsanto’s best-selling Roundup is one of the greatest threats to human and environmental health ever created.
As the USDA continues to sit back and allow Monsanto to threaten the environmental stability of the planet, it becomes more apparent that the USDA and Monsanto are gladly willing to exchange the future of the planet and its inhabitants for short term gain. In fact, the USDA has even given Monsanto’s latest GMO crops speedier approval in order to secure the company’s profits, ignoring the numerous known harmful effects of Monsanto’s past creations, e.g. Agent Orange, Aspartame, DDT.
The known effects of Roundup
The negative effects of Monsanto’s Roundup on human health and the environment have been firmly established by numerous scientific studies and large-scale investigations, with scientists even linking the best-selling herbicide to conditions like infertility and cancer due to its genotoxic (DNA damaging) nature. Amazingly, even when diluted by 99.8 percent (450-fold lower dilutions than used in agricultural applications), Roundup still exhibits serious genotoxic characteristics and is harmful to the integrity of human DNA. Meanwhile, this carcinogenic herbicide product is used nationwide by unsuspecting homeowners and agricultural workers. According to the United States Geological Survey, 176 million lbs of glyphosate were used in the U.S. in 2007.
Outside of the public health realm, Roundup’s startling environmental havoc is perhaps an even greater cause for concern. Despite being created to fend off weeds, Roundup is actually spawning resistant superweeds across millions of hectares (one hectare is 10,000 square metres), bankrupting farmers and destroying crop land. These resistant weeds currently cover over 4.5 million hectares in the United States alone, though experts estimate the world-wide land coverage to have reached at least 120 million hectares by 2010. The onset of superweeds is being increasingly documented in Australia, Argentina, Brazil, Chile, Europe and South Africa.
The research is clear: Roundup is not only harming human health and damaging farmland, it is threatening the very biosphere itself by destroying microbial biodiversity, with the future agricultural stability of the planet, i.e. the ability to produce food through monoculturing, at serious risk of collapsing.
Sources for this article include:
This article originally appeared at Natural News.
By Alexa Fee
In his newest book, “On History,” Stone discussed America’s current economy, saying that there is “a potential wild card in an internal economic collapse of the empire.”
Stone called America an “empire,” saying that its current spending spree is responsible for the empire’s inevitable collapse. The only person that could potentially prevent this collapse, he said in the interview, is Ron Paul.
“In fact, I think in many ways the most interesting candidate – I’d even vote for him if he was running against Obama – is Ron Paul,” he said.
“He’s the only one of anybody who’s saying anything intelligent about the future of the world.”
Stone went on to criticize Obama’s comments when welcoming home the troops from Iraq. Obama had said that the U.S. had achieved “stability, freedom, and democracy” in Iraq.
“It was the same language that Bush used,” Stone said, “and Obama was the guy who called Iraq a ‘dumb war.’”
Ron Paul is the only candidate, Stone said, who does not “pay obeisance to this hypocrisy that the U.S. is a good force in the world,” a fantasy that the U.S. cannot afford.
Stone is also known for directing Wall Street: Money Never Sleeps, W., JFK, and Born on the Fourth of July.
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Now more than every we need the Champion of the Constitution!
Please visit Ron Paul’s official campaign site by following the link below and donate today!
Posted by David Kramer
1. Rights belong to individuals, not groups; they derive from our nature and can neither be granted nor taken away by government.
2. All peaceful, voluntary economic and social associations are permitted; consent is the basis of the social and economic order.
3. Justly acquired property is privately owned by individuals and voluntary groups, and this ownership cannot be arbitrarily voided by governments.
4. Government may not redistribute private wealth or grant special privileges to any individual or group.
5. Individuals are responsible for their own actions; government cannot and should not protect us from ourselves.
6. Government may not claim the monopoly over a people’s money and governments must never engage in official counterfeiting, even in the name of macroeconomic stability.
7. Aggressive wars, even when called preventative, and even when they pertain only to trade relations, are forbidden.
8. Jury nullification, that is, the right of jurors to judge the law as well as the facts, is a right of the people and the courtroom norm.
9. All forms of involuntary servitude are prohibited, not only slavery but also conscription, forced association, and forced welfare distribution.
10. Government must obey the law that it expects other people to obey and thereby must never use force to mold behavior, manipulate social outcomes, manage the economy, or tell other countries how to behave.
Another great post from Lew Rockwell’s blog!
Now more than every we need the Champion of the Constitution!
Please visit Ron Paul’s official campaign site and donate today!