Showing posts with label China. Show all posts
Showing posts with label China. Show all posts

Wednesday, April 8, 2009

Chinese yuan to replace US dollar

You knew when Treasury Secretary Geithner stated that he would be in favor of replacing the US dollar for another currency (the Chinese yuan), it was already in the works.

After all, US-hater and Obama-supporter George Soros had expressed his support for moving from US currency to the yuan.
China has also been arranging currency swaps with trading partners to bypass the U.S. dollar in trade settlements. Since mid-December, China has signed currency swap contracts worth 650 billion yuan (about 95.6 billion U.S. dollars) with six central banks in Hong Kong, the Republic of Korea, Malaysia, Belarus, Indonesia and Argentina.

These swap accords allow other overseas central banks to lend yuan to local importers who want to buy Chinese goods. Since these deals bypass the U.S. dollar, they reduce exposure to exchange-rate volatility and cut transaction costs for both parties.

Chen said these deals "expand the yuan's use in the region and pave the way for its global acceptance."

The rules are also good for Chinese exporters, who have long had to bill their foreign customers mainly in U.S. dollars.

The full story is here.

Meanwhile ---

.... We learned this week that Obamatrons have leaked their intent to infiltrate tea parties on April 15 to instigate disruptions (more info later).

.... The alleged plan to attack Obama in Turkey was a hoax.

.... Obama's Afghanistan policy is to be modeled after Clinton's Columbia Plan (surely you didn't expect anything original, did you?) which is just now in its final stages and appears to be ending with another broken Obama promise.

And if you think the military have forgotten how Obama tried to shaft them on health care --- guess again. The reception in Iraq this week was not all "oohray" -- not by a long shot. Troops don't forget when a sitting President votes against them or insults them ....

... Oh please --- so they will not meet one-on-one at the Americas' Conference? Two of the most self-adoring, egotistical leaders in the world? Yeah right .... My only question is: who will bow to whom?

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Saturday, January 24, 2009

UPDATED Bipartisanship: Chicago-Style

Why would Obama "warn" Republicans about listening to Rush Limbaugh? Or remind them that "he won"????

UPDATE: Rush responds to point out that Obama's tactic is to take attention away from his stimulus plan ....

If I can be made to serve as a distraction, then there is that much less time debating the merits of the trillion dollar debacle.

.... [this demonstrates] Obama's ties to the teachings of Saul Alinksy while he was community organizing in Chicago. Here is Rule 13 of Alinksy's Rules for Radicals:

"Pick the target, freeze it, personalize it, and polarize it."



Are we going to play Obama's stall-game or his "my way or the highway" for the next four years? At this critical time when "all Americans must come together"?

Why should the President of the United States be threatened by a conservative talk radio host??? As Rush pointed out --- is this simply a diversion to a weak stimilus plan? (I've never listened to Limbaugh -- might have to tune him in now.)

Or is this bipartisanship "Chicago style" with a dose of Alinsky?


Here's the original news article. This ought to be good for a few months. Or years. Or until 2010 or 2012 when the WH admits this "stimulus" will take effect. (Click stimulus link for summary. It's also enlargeable.)

Note: Emphasis, stimulus summary links and comments are added to article below.


[An obviously insecure] President Obama warned Republicans on Capitol Hill today that they need to quit listening to radio king Rush Limbaugh if they want to get along with Democrats and the new administration. [What happened to that "we are one" spiel??? And why is Rush Limbaugh such a threat to Barack Obama?]

"You can't just listen to Rush Limbaugh and get things done," he told top GOP leaders, whom he had invited to the White House to discuss his
nearly $1 trillion stimulus package.

One White House official confirmed the comment but said he was simply trying to make a larger point about bipartisan efforts. [ Coulda fooled me.]

"There are big things that unify Republicans and Democrats [name five, but first put that letter opener down]," the official said. "We shouldn't let partisan politics derail what are very important things [like $3 million for condoms] that need to get done." [or maybe helping the prez pay back campaign debts to all those unions and special interest groups?]

That wasn't Obama's only jab at Republicans today. [Really?]

In an exchange with Rep. Eric Cantor (R-Va.) about the proposal, the president shot back: "I won," according to aides briefed on the meeting. [nanner nanner nanner]

"I will trump you on that."

[This guy plays bridge also? I had him pegged as a joker's wild sorta guy ....]

Not that Obama was gloating. [NO? Then was he trying to intimidate someone?] He was just explaining that he aims to get his way on stimulus package and all other legislation, sources said, noting his unrivaled one-party control of both congressional chambers. [Hey --- never say 'no' to the Messiah.]

"We are experiencing an unprecedented economic crisis that has to be dealt
with and dealt with rapidly," Obama said during the meeting. [Well, duh. So why are you proposing "stimuli" which won't take effect for 2-4 years?]

Republicans say the $825 billion price tag is too big a burden for a nation crippled by debt and that it doesn't do enough to stimulate the economy by cutting taxes.

"You know, I'm concerned about the size of the package. And I'm concerned about some of the spending that's in there, [about] ... how you can spend hundreds of millions on contraceptives," House GOP Leader John Boehner (R-Ohio) later said.

"How does that [$300 million for condoms] stimulate the economy?" [Could it be because this entire plan is one big screw-over for America?]

But White House Press Secretary Robert Gibbs countered: "There was a lot of agreement in that room about the notion that we're facing an economic crisis [duh]unlike we've seen in quite some time ... that we must act quickly to stimulate the economy, create jobs, put money back in people's pockets." [So why are we waiting until 2010 or 2012 before this 'stimulus' kicks in?]

Gibbs disagreed with those who called the meeting window dressing. [This whole administrative facade is beginning to look shady .... ]

"The president is certainly going to listen to any ideas," he said. [Will that be before or after his campaign cronies get their money?]

"He will also go to Capitol Hill the beginning of next week to talk to Republican caucuses and solicit their input and their ideas." [If this bipartisan meeting was "window dressing," can we expect paint, wall paper and new carpet next week?]



IMO, IF Republicans DON'T filibuster this pork-package-to-repay-campaign-promises-while-calling-it-an-economic-stimulus, they can hang it and this nation up for the next four years (and beyond).

And while I'm on the topic ----

If someone doesn't step up and reveal (Obama's benefactor) George Soros and his henchmen for manipulating all global markets, Soros is REALLY going to be the Dr. No of this world. (Even he agrees that the global economic stress has been caused by the U.S. housing market scandal(s) -- although he fails to recognize the role of certain "leading" democrats in ignoring the warnings, lying about the corruption in Fannie Mae and Freddie Mac and in benefiting from the $candal$.)

Even one of Soros' cohorts has advised global investors to ditch U.S. stocks and buy U.S. corporations or put their money in the Asian market.

Is it any wonder that Soros' buddy Maurice Strong is already living in China (since his meddling in the U.N. oil for food scheme -- with whom Soros is working on a scheme to market Chinese's economy car in the U.S.)


or

that Obama's choice for Secretary Treasurer (the tax evading) Timothy Geithner (click to read about his role in the collapse of Citibank -- which may become part of our "nationalized bank system) also speaks fluent Chinese and has also worked with the Chinese market????

Don't be distracted.

Which reminds me ---------- what we need around here is a pro-active, pro-American James Bond-type figure to salvage our nation and our economy from greedy Gold Fingers, Dr. No and the Chicago Way. And that figure is Mitt Romney.



This topic cross-posted through-out Over the Hill Oracles sites.
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