China
Money As Debt 3-4
A movie that explains clearly and simple the compicated finacail slavery we are under! www.moneyasdebt.net
Duration : 0:9:40
Morgan’s Roach Sees Increased Frequency of Debt Crises: Video
May 10 (Bloomberg) — Stephen Roach, chairman of Morgan Stanley Asia Ltd., talks with Bloomberg’s Tom Keene about the outlook for South Korea and the frequency of financial crises.
Roach also discusses the need for Asian economies to focus on internal consumption. Kenneth Fisher, chief executive officer for Fisher Investments Inc., also speaks. (Source: Bloomberg)
Duration : 0:4:12
FED using foreign banks to monetize debt behind closed doors
Bob Chapman talks about the dirty tricks pulled by Ben Bernanke for the federal reserve to manipulate the dollar
recorded on August 14th 2009
Pressure (Countdown) Toward Breakdown
http://www.kitco.com/ind/willie/aug132009.html
By Jim Willie CB
My best sources of information report that some unexpected deep shocks are coming from USGovt creditor nations. They are simply fed up, frustrated, and astonished at the manner of lost control, spiraling debts, and blatant monetization amidst lies in denial of that same monetization.
The USTreasury auctions now have domestic hidden elements, and global hidden monetization elements. The USFed is purchasing through Permanent Open Market Operations the bonds grabbed by the primary dealers. Some of the auctions are actually underbid, and fortunately for the statistics, the bid/cover ratio includes obligated dealer bids.
The USFed liberally uses its USDollar Swap Facility to enable strong bids by foreign central banks, except that they are highly likely coming from USFed accounts on foreign soil, or else from money lent by the USFed itself. Warning after warning have come not to monetize, not to debauch the USDollar currency, not to permit skyrocketing deficits.
Yet they continue, and worse, little if any reform or actual stimulus has occurred. Mainly what we witness is more channeled funds to the big banks, more coverage of credit derivative fires, and more announcements of bond support. See the $1.25 trillion support for Fannie Mae bonds, aka USAgency Mortgage Bonds.
The Green Shoots have now been dismissed as a marketing ploy. The Stress Tests have now been dismissed as a marketing ploy. The Stimulus Plan has now been dismissed as a marketing ploy. The only USEconomic recovery will be a statistical recovery. A Jobless Recovery is a recovery for stocks and a redemption for the bankers. Main Street continues to be discarded.
As a last footnote, never overlook the continued urgent Chinese initiative to spend their USTBonds quickly, for useful tangible purposes, before any damaging sequence of events occurs. Simon Black (aka the International Man) wrote, I have been spending a lot of time this week talking to my sources in China, one of whom is inside one of the countrys sovereign wealth funds (SWF). He also indicated that the SWF analysts were working around the clock trying to put deals together.
For China it is a race against the clock for how fast they can convert their $2 trillion in USDollar holdings into strategic assets, namely oil and gold. At todays deflated prices, putting together a really good billion dollar deal is a difficult thing to do. Putting together 2000 of them is impossible. Doing it before the dollar collapses? Not a Chinamans chance. And they know it.
Duration : 0:9:46
Bush Has Doubled National Debt with Deficits
Jack Cafferty interviews former Nixon Commerce Secretary Pete Peterson, who discusses the unfortunate political and financial reality of the Bush Administration’s excessive spending, deficits, and China borrowings, rendering us both politically and financially vulnerable, as we devolve into third world nation status. Another reason why the Bush legacy will be to take us from the World’s most formidable military and financial power steps closer to being third world nation.
Duration : 0:6:7
Money As Debt 4-4
A movie that explains clearly and simple the compicated finacail slavery we are under! www.moneyasdebt.net
Duration : 0:9:30
Peter Schiff: An Obama Speech, Debt and China
An excerpt of the Peter Schiff speech at the 2009 Henry Hazlitt Memorial Lecture. Recorded at the annual Austrian Scholars Conference, Ludwig von Mises Institute.
Duration : 0:3:7
China won’t Finance U.S. Debt; We Hate You…you are devaluing your Dollar! Hyperinflation Collapse?
Who will finance our debt? Who has confidence in the fiscal responsibility of the U.S. congress? Will our dollar collapse, and if it does, what will be the consequence of such a collapse? I don’t know the answers to these questions, but I do know one thing, and that is that I hate my government; they are corrupt, right down to the bone. The corruption is cancerous, so drastic steps must be taken; they must be replaced in their entirety.
jbranstetter04
Why do Japan and China keep on buying dollars?
The dollar has fallen about twenty percent against the Euro in the last year but China and Japan continue to accumulate large dollar surpluses. At the same time, many economists worry that they will dump their holdings, sending the dollar into a free fall.
Michael Dooley, Peter Garber, and David Folkerts-Landau suggest that this financial policy is no accident. They view the Chinese and Japanese as pursuing deliberate full employment policies. They buy and hold dollars, not as an investment, but rather to subsidize their own exports. Read this summary of the argument, or buy an NBER working paper here. Garber puts the point bluntly:
http://www.marginalrevolution.com/marginalrevolution/2004/01/why_do_japan_an.html
China is right to have doubts about who will buy all America’s debt
Chinese doubts about the value of US Treasury bonds highlight a crucial question: who will buy the estimated $2.7 trillion (£1.9 trillion) to $4.2 trillion of debt expected to be issued over the next two years?
With annual foreign purchases accounting for less than a tenth of the low end of that range, and domestic investors unable to bridge the gap, the Chinese are right to worry.
Yu Yongding, former adviser to the Peoples Bank of China, recently demanded guarantees for the value of Chinas $682bn of Treasury securities. Then Luo Ping, director of the China Banking Regulatory Commission, said that China had misgivings about the US economy, but despite this it would continue to buy Treasuries. The two statements appear designed to raise the issue non-confrontationally before new chief US diplomat Hillary Clintons visit to Beijing on February 20.
China worries about the dollars value against other currencies, particularly the yuan. With US interest rates so low, the dollars value may slide. However, President Barack Obama has repeatedly said he wants a strong dollar, and indeed its trade-weighted value rose 13.9pc between April and December 2008.
The other area of concern for China is the value of its Treasuries. Given the US borrowing requirement and its lax monetary policy, Treasury bond yields could well rise sharply, causing a corresponding price decline. If Chinas holdings match Treasuries average 48-month duration, then a 5pc rise in yields, from 1.72pc on the 5-year note to 6.72pc, would lose China 17.5pc of its holdings value, or $119bn.
Foreign buyers have absorbed a little over $200bn of Treasuries annually, a useful contribution to financing the $459bn 2008 deficit, but only a modest help towards the $1.35 trillion minimum average deficit forecast for 2009 and 2010.
Unless that changes substantially, there will be $1trillion annually to be raised by the Treasury from domestic sources, more than double the previous record from domestic and foreign sources together, plus whatever is needed to bail out the banks.
Even if the US savings rate were to rise from zero to its long-term average of 8pc of disposable personal income, that would create only an additional $830bn of savings — not enough to fund the domestic share of the deficit. Interest rates would probably have to rise substantially to pull in more foreign investors.
Yu is right to worry.
http://www.telegraph.co.uk/finance/breakingviewscom/4611408/China-is-right-to-have-doubts-about-who-will-buy-all-Americas-debt.html
Duration : 0:3:37
Money As Debt 1-4
A movie that explains clearly and simple the compicated finacail slavery we are under! www.moneyasdebt.net
Duration : 0:8:30
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