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Are Iran, Russia, China behind dollar's free-fall?
WASHINGTON – The hottest selling book in China right now is called "Currency Wars," which makes the case that the U.S. Federal Reserve is a puppet of the Rothschilds banking dynasty and it has persuaded some top officials Beijing should resist America's demands to appreciate its own undervalued currency, the yuan.
This might not be news of concern to most Americans if the U.S. dollar were not in precipitous free-fall, having reached record laws against the euro yesterday.
...
The stock market has demanded rate cuts, wanting to return to the free credit policies of the Federal Reserve that fueled the liquidity bubble that has boosted home prices and pumped the Dow Jones Industrial Average since 9/11.
Yet, the Fed giving in to stock market demands and lowering rates threatens an international dollar sell-off that could lead to a dollar collapse.
Chinese buy into currency war plot
THE Battle of Waterloo. The deaths of six US presidents. The rise of Adolf Hitler. The deflation of the Japanese bubble economy, the 1997-98 Asian financial crisis and even environmental destruction in the developing world.
In a new Chinese bestseller, Currency Wars, these disparate events spanning two centuries have a single root cause: the control of money issuance through history by the Rothschild banking dynasty.
Even today, claims author Song Hongbing, the US Federal Reserve remains a puppet of private banks, which also ultimately owe their allegiance to the ubiquitous Rothschilds. Such an over-arching conspiracy theory might matter as little as the many fetid tracts that can still be found in the West about the "gnomes of Zurich" and Wall Street's manipulation of global finance.
But in China, which is in the midst of a lengthy debate about opening its financial system under US pressure, the book has become a surprise hit and is being read at senior levels of government and business.
Fed's Yellen: inflation expectations well anchored
I just hope they aren't well anchored to the bottom of the Atlantic Ocean.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
-
At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
12 hours ago
8 comments:
My inflation expectations are anchored all right, to the space shuttle.
Kevin
Space shuttle AND Titanic? Oh oh.
When Worlds Collide is a 1933 sci-fi book, lol.
Space shuttle AND Titanic? Oh oh.
Sure Mark you know the final frontier.
I don't know about the FED and Rothschilds but one of the biggest global problems I see and Richard Dunkin make a good point of it in his book The Dollar Crisis is that the US dollar being the world reserve currency is responsible for most of the market bubbles. A good book on the FED is The Creature from Jekyll Island by Griffen, his main point is that the FED is a cartel of banks and they look out for the bankers interest not the necessarily the US's. I think that is valid as well.
Kevin
...his main point is that the FED is a cartel of banks and they look out for the bankers interest not the necessarily the US's.
FAQ: Federal Reserve Banks
http://www.federalreserve.gov/generalinfo/faq/faqfrbanks.htm
The Reserve Banks offer many services to financial institutions, which makes them bankers' banks.
Employees of the Federal Reserve Banks are not government employees.
Mark, this was a much watch for my kids a few years ago, they all own at least some gold & silver, I have seen a few weekly articals on Hussman's that question the validity of the all pwerfull FED tough and he does bring up some interesting points. The main thing I found interesting is that bank reserves only cover checking deposits. You may have seen this if not I tought it was worth the time.
http://video.google.com/videoplay?docid=-466210540567002553&q=mises&pl=true
Kevin
Someday we're going to figure out that printing more money doesn't actually print more prosperity. *sigh*
Someday we're going to figure out that printing more money doesn't actually print more prosperity.
They didn't print more money. They used equity-derivative magic to change the money multiplier of traditional banking from something like 6 to something like 20. Actually 20 might be low- if you have no money in the game your getting pretty close to infinity and beyond (to return us to the space based theme).
I like to think of it as printing more money, but you are right. It mostly just magically appears thanks to the power and "stability" of fractional reserve (exponential) banking. What magically appears can also magically disappear I suppose, not that I'm counting on it.
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