In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘reserve currency’

China assesses its gold strategy

Posted by seumasach on March 11, 2010

Russell Hsiao

Asia Times

11th March, 2010

Chinese leaders convening in Beijing for the annual plenary session of the National People’s Congress (NPC) – China’s ceremonial legislature – this week will, among other things, hammer out a blueprint for the ascendancy of the country’s currency, the yuan (or renminbi).

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Posted in Multipolar world, Uncategorized | Tagged: , | Leave a Comment »

China, Russia, Belarus renounce the US Dollar?

Posted by smeddum on November 4, 2008

China, Russia, Belarus renounce the US Dollar?

by Anatoly Gorev

Global Research, November 3, 2008
RIA Novosti – 2008-10-30

The recent meeting between Russian Prime Minister Vladimir Putin and his Chinese counterpart, Wen Jiabao, created a financial sensation. Wen said that the two nations could withstand the global financial crisis if they joined forces; Putin urged him to go farther and stop using U.S. dollars in Russian-Chinese settlements. Read the rest of this entry »

Posted in Financial crisis | Tagged: , , , | Leave a Comment »

China ‘needs to take active role’

Posted by smeddum on October 30, 2008

China ‘needs to take active role’
By Fu Jing (China Daily)
Updated: 2008-10-29 09:42

A top economist and leading bankers said yesterday that China should be an active player in rebuilding the battered international financial system in order to ensure a stable and mutually beneficial global economic order. Read the rest of this entry »

Posted in Uncategorized | Tagged: , | 1 Comment »

Wall Street Monsters & Meat (You)

Posted by smeddum on October 21, 2008

Wall Street Monsters & Meat (You)

Jim Willie CB
Jim Willie CB is the editor of the “Hat Trick Letter”
Oct 17, 2008

The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London InterBank Offered Rate) market in a very visible manner. The oblong usury prices have contributed mightily to the destruction of the USEconomy itself, created bubbles, killed jobs, and wrecked savings. The ugliest hidden activity for the JPMorgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funneled from Afghan sales, under management by the USMilitary aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the USGovt, given the privilege of insider trading in unspeakable proportions. They manage the Plunge Protection Team efforts to intervene in financial markets, making America strong for freedom and liberty. The new kid on the block is the FDIC. The Federal Deposit Insurance Corp is steering fresh meat into the corralled JPMorgan stockyards for slaughterhouse feeding. The label of harlot might be too kind, especially from the perspective of senior bond holders. But JPMorgan requires fresh meat (capital) periodically, thus making America strong for freedom and liberty. Nevermind the fires caused after its hearty meals and flatulence. Read the rest of this entry »

Posted in Financial crisis | Tagged: , | Leave a Comment »

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