Capitalism suggests by inflating currencies and charging interest on cheap asset-less credit you can rule the world. You can create some amazing flash, but it is not sustainable.
In regards to China, the inside joke among the capitalists in the 1980s and 1990s was China would make things for us and China would have to buy USA bonds to keep their profits safe. In essence they would be trapped, enslaved by capitalism, every communist's fear.
Observing from afar, it was clear enough early on there were alternatives to the USA scenario. I mention it here among many other times, and now comes the ChiCom big shots saying precisely the same thing.
Tine to bring our troops home and reform our economy.
Feel free to forward this by email to three of your friends.
In regards to China, the inside joke among the capitalists in the 1980s and 1990s was China would make things for us and China would have to buy USA bonds to keep their profits safe. In essence they would be trapped, enslaved by capitalism, every communist's fear.
Observing from afar, it was clear enough early on there were alternatives to the USA scenario. I mention it here among many other times, and now comes the ChiCom big shots saying precisely the same thing.
“Except for US Treasuries, what can you hold ? US Treasuries are the safe haven. For everyone, including China, it is the only option.. Once you [Americans] start issuing $1 trillion – $2 trillion.. we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”Since China slipped the capitalists' noose, we'll now expand our practice of calling the Chinese bad names. I hope as China reconstructs the world economy on a solid rational basis, away from the baleful results of capitalism worldwide, USA does not decide war is the best response.
– Luo Ping, official at the China Banking Regulatory Commission, addressing an audience in New York in early 2009.
“This is a big change and it cannot happen too quickly, but we want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to find ways to improve our return on investment.”
– Unnamed senior Chinese official, cited in an FT article, ‘Turning away from the dollar’, 10th December 2014.
Tine to bring our troops home and reform our economy.
Feel free to forward this by email to three of your friends.
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