Archive for the ‘Battle for Europe’ Category
Posted by seumasach on October 22, 2011
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Posted by seumasach on October 11, 2011
Curbing speculatives attack is the first line of defence against the war being conducted against the Euro by Anglo-American finance. With regard to budget deficits it is notable that the emphasis always falls on cuts as if there weren’t two aspects: expenditure and revenue. Through wealth creation, the reconstruction of the real economy, revenue increases. This has to be the long-term focus of European policy.
Walter Otremba
Spiegel
11th October, 2011
Walther Otremba, 60, served successively as a senior official in the German economy, finance and defense ministries. He retired in March. He has written a guest commentary in SPIEGEL explaining his idea for a state credit insurance system that could help to tackle the euro crisis.
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Posted by seumasach on October 9, 2011
Qiao made several suggestions about China’s assistance to the euro zone.
First, China should buy more bonds from multilateral institutions, including euro bonds and the bonds issued by the European Financial Stability Facility, because they are less risky.
Second, China should encourage domestic enterprises to expand in Europe, carry out business cooperation with European companies or purchase those companies’ preference shares that do not carry voting rights to avoid political obstacles.
Third, China should increase the weight of the euro in the RMB’s currency basket.
China knows that the battle for Europe is a crucial one. The fall of the Euro would mean the reimposition of the dollar as the global reserve currency, the monopoly money of global trade. As a result China and other countries would be obliged to go on accepting devalued dollars and effectively subsidise the USA indefinitely. They are obviously pulling out all the stops to make sure that doesn’t happen.
What part should China play in European debt crisis?
People’s Daily
9th October, 2011
It is difficult for China not to get involved in the European debt crisis. China’s Foreign Ministry and Ministry of Commerce both recently expressed support for the beleaguered euro zone. However, that raises the question of how to help European countries without sacrificing China’s own national interests.
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Posted by seumasach on September 28, 2011
Ambrose Evans-Pritchard
Telegraph
28th September, 2011
Germany and America were on a collision course on Tuesday night over the handling of Europe’s debt crisis after Berlin savaged plans to boost the EU rescue fund as a “stupid idea” and told the White House to sort out its own mess before giving gratuitous advice to others.
German finance minister Wolfgang Schauble said it would be a folly to boost the EU’s bail-out machinery (EFSF) beyond its €440bn lending limit by deploying leverage to up to €2 trillion, perhaps by raising funds from the European Central Bank.
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Posted by seumasach on September 21, 2011
This is indeed a war and as we have seen in Libya the centralised command over military, terrorist, intelligence, media and political players across the spectrum makes many things possible, even the entry of a ragbag army into Tripoli. The author is absolutely correct to point out the Anglo-Americans’ ability to continually seize the initiative even using the most outrageous methods such as the deployment of rating agencies which should have been behind bars years ago. Still, from the Clausewitz point of view, they can, I think, be criticized for doing too much: they are throwing everything at Europe and people are beginning to notice it’s war. If you conspire enough against people they will become conspiracy theorists. The whole world has to learn this simple lesson: the only way to be at peace with the Washington/London axis is to prepare for war. Europe have a simple devastating weapon which they can unleash against Wall street/City of London; the Eurobond, backed by the world’s emerging economies.
Pravda
20th September, 2011
Dollar exchange rate continues to rise, despite the enormous national debt and virtually pre-default state of the USA. Why?
Mikhail Fedorov, analyst of “RIC-Finance”:
“Today, because of the debt crisis the Eurozone and the U.S. became competitors in terms of their attractiveness to outside investment, and therefore their ability to fund their own public loans. In fact, they are competitors in terms of attracting investment. The world today simply does not have enough funds to finance both the euro area and the U.S. simultaneously. The flow of investments in one region will pump blood from another one. This creates a conflict of interests between the two largest economies in the world.
Of course, we are not talking about an economic war (perhaps not yet), but the presence of the opposing sides, in my opinion, suggests that the laws of war are relevant.
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Posted by seumasach on September 20, 2011
Reuters
20th September, 2011
Brazil will propose that it and other large emerging market countries make billions of dollars in new funds available to the International Monetary Fund as a way to help ease the crisis in the euro zone, an official said on Monday.
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Posted in Battle for Europe, Currency Wars, Multipolar world | Tagged: BRICS(Brazil-Russia-India-China-South Africa) | Leave a Comment »
Posted by seumasach on September 20, 2011
The relationship between the emerging multipolar world and the Euro crisis is certainly a crucial one. This analysis unfortunately owes too much to the standard lines laid down ad nauseum by the Anglophile global press. Let’s hope the Brazilians aren’t serious about investing in UK bonds, lending to the world’s most bankrupt country, and that they’ve noticed that it isn’t in the eurozone anyway. Escobar repeats the defeatist line on Europe, which is simply the London-Washington line. Hopefully the BRICS leadership will have noticed that by helping the eurozone to come through the currency offensive being waged against them by City of London/Wall Street interests they will prevent the dollar from reasserting its stranglehold on global trade and, at the same time, gain leverage over Europe and help snuff out its senile imperial pretensions and Sarkozy’s 3rd Empire thereby splitting NATO.
Pepe Escobar
Asia Times
21st September, 2011
This Thursday, in Washington, finance ministers and central bank governors of the BRICS group of emerging powers – Brazil, Russia, India, China and South Africa – will get together and, in the words of Brazilian Finance Minister Guido Mantega, “Talk about what to do to help the European Union get out of this situation.”
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Posted by seumasach on September 19, 2011
16th September, 2011
As anticipated by LEAP/E2020 since November 2010, and often repeated up to June 2011, the second half of 2011 has started with a sudden and major relapse of the crisis. Nearly USD 10 trillion of the USD 15 trillion in ghost assets announced in GEAB N°56 have already gone up in smoke. The rest (and probably much more) will vanish in the fourth quarter of 2011, which will be marked by what our team calls “the implosive fusion of global financial assets”. It’s the two major global financial centers, Wall Street in New York and the City of London, which will be the “preferred reactors” of this fusion. And, as predicted by LEAP/E2020 for several months, it’s the solution to the public debt problems in some Euroland countries which will enable this reaction to reach critical mass, after which nothing is controllable; but the bulk of the fuel that will drive the reaction and turn it into a real global shock (1) is found in the United States. Since July 2011 we have only started on the process that led to this situation: the worst is ahead of us and very close!
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Posted by seumasach on September 14, 2011
Business Live
13th September, 2011
The BRICS group of emerging markets may ramp up holdings of euro-denominated bonds in an effort to help European countries stuck in a sovereign debt crisis, Brazilian newspaper Valor Economico reported on Tuesday, citing an unnamed official.
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Posted by seumasach on August 21, 2011
Times of Malta
21st August, 2011
One can easily un derstand China’s concern when the US financial status downgrade took place a few days ago. Overdependence on its dollar holdings has long been common knowledge. In fact it has long been a vocal critic of the Fed’s quantitative easing programmes and low interest rates. For the simple reason that it is deeply concerned as a main creditor of the US.
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