China Formally Working With IMF To Avoid Eurozone Restructuring

Tyler Durden's picture

Step aside IMF, China is now in the driver's seat. Officially.

From Market News:

China doesn't want to see a eurozone debt restructuring and is making efforts with the International Monetary Fund and countries related to the sovereign crisis on avoiding it, a government researcher said Friday.

"China, the IMF and related countries are all making efforts...we don't want to see a debt restructuring," Qu Xing, director of the China Institute of International Studies, a Foreign Ministry think tank, told reporters at a briefing here Friday.

Will third time be the charm for the Chinese "white knight" approach to Europe, where it has so far sunk about $50 billion in bad money after good? Find out after the next imminent kneejerk spike in the EURUSD...

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LowProfile's picture

Glad to see they're as incompetent as the rest of the Ivy League idiots.

Element's picture

Oh, they are far,  F A R worse than people give them credit, they make monumental centralist screw-ups seem prosaic most of the time. Rarely do we see a country as determined to sabotage itself as Beijing is able to muster.

Ahmeexnal's picture

How many chinese does it take to bail out the pauper people's state of europe?

Fish Gone Bad's picture

I am thinking, "Just one, but he has to be quite determined."

BlackholeDivestment's picture

...obviously that ''one'' is not the second born.

Terminus C's picture

could be if the first born was a girl.

wisefool's picture

Probably 1 chinaman has the work ethic combined with intelligence of 10 Classically educated Europeans.

I hate to use relative military aptitude as a gauge, but case in point: (European) NATO forces running out of munitions while fighting a 3rd world dictator in Lybia. Europe could not run a succesful mission against the civilian population of a typical flyover county in the USA. (urban or rural)

The chinese would have no such issues. Again, I abhor violence, but If I was sending one of my countrymen into battle, I would work 42 hours per week insted of 32 hours per week to make sure she/he had a full clip and canteen.

Whalley World's picture

With respect to Libya, according to Gibbon inThe History of the Decline and Fall of the Roman Empire:

"Till the arrival of the Phoenician colonies, that fertile country was inhabited by the Libyans, the most savage of mankind".

equity_momo's picture

The Afghans arent far behind.  Family grudges are passed on for generations , literally 100s of years will one tribe feud with another for something a great great great grandaddy said about some other great great granddaddy one day in the opium fields.

When fighting is a way of life you become quite good at it. The Russians had no chance in that country and neither will the US. And when China try later this century to muscle in on that part of the World , they too will find out the hard way.

Oh and dont forget the Chechens.  Theyd even outlive cockroaches in a war.

Allah sure has a knack of creating hard bastards.

Mesquite's picture

Invading any country is a fool's game..

If the man doesn't getcha, the woman will, or the son, or the daughter, or the uncles, or even the family dog..

Shades of Vietnam...

hamurobby's picture

True, a successful invasion must include a complete systematic eradication of the existing population. We only allow that if it is done from within.

LeBalance's picture

The Afghan people, when apprised of the impending invasions: first by the Soviets and then by the Americans, the most powerful nations on Earth; fell to their knees toward the East raised their hands and as One praised Allah that their deepest wishes had been granted.

Because they knew they would break both of the *Great Powers*...and they have.


falak pema's picture

Only because they beat the shit out of invaders.... "savage" was possibly an expression  of a patriotic trait, incompatible with "empire" and "civilization"... Gibbon was writing as a Enlightenment historian, who felt that a new age of european civilization was in the making; with England's colonial age. "Savage" is a label that transmits a value system anchored in beliefs that "we" are "civilization". Dangerous territory...Rome was more savage than the savages. Ask the Italians; they refused to reunite for 14 centuries after its fall. Such was the recurrent trauma created by its iron fist that subjugated its neighboring Italian states.

MountainLotus's picture

Oh.. my. Right now, I'm working 50 hours+ per week just for the living.

knowless's picture

had the same thought, my last full time job was 6 days a week 10 hours at least a day.. no overtime, but whatever,  that's what you get for being a poor bastard.

onthesquare's picture

The typical strategy, when removing the infrastructure and the population of a country which is at war with itself, is to gauge your efforts. Nato helps the freedom fighters and gives them a leg up then moves out to let Gaddafi's people regain ground. Both sides leave bodies on the street and infrastructure destroyed. Yugoslavia was played this way.

The prize is in the ground...oh sweet crude how I love thee.

Anyway NATO and its goons are doing OUR dirty work. Some speak out against it but they know, or should know, that this is to keep oil in our tanks, fertilizer on our crops and plastic stuff flowing.

Zero Govt's picture


if you want oil and fertilizer for your crops why don't you just dig? The US has larger oil reserves than Saudi, just the most corrupt Govt in the world, Washington, won't let you exploit it. There's always a peaceable means to doing business, your cretins just can't see it

ibjamming's picture

When something as valuable and ESSENTIAL as KNOWN to be in limited's wiser to use up someone else's supply first!

Zero Govt's picture

ibjamming  -  Oil is not in "limited supply" is of infinite supply (for mans purposes/needs) about 1,000 years. Nor is Oil worth killng people for, there's other more peaceful means of business, for example buying it in the international markets.

Neither is it legal for murderous cowboys like the US loonatic elite (politicians and oil executives) to invade any other sovereign nation unless they are defending their own country. Vietnam, Iraq and Afghanistan have never threatened the US therefore successive US Govts should been tried in international court for war crimes including murder and the deaths of 100's of thousands of innocent civilians 

Even if Oil was in limited supply it never justifies murder and mahem (international anarchy), there are other much more civil ways of conducting business

ian807's picture

"... The US has larger oil reserves than Saudi"

Apparently, you are either unable to use Google, or unable to do arithmetic, or both.

In the unlikely event that you would want to understand exactly what the oil depletion problem is about, a numeric description is here:



LowProfile's picture

Using Wikipedia as a primary source.  Lol.

Zero Govt's picture


if you like your information dumbed down Wiki is a great source. As for Google, maybe. I did a long list for Trav777 about 2 months ago of the US's oil reserves, they are simply massive. I've given you the reason the US does not exploit them, the US Govt strangling exploitation. This is the usual fascism/Marxism no dobt to aid and abet your huge global oil monopolists and prevent smaller competitors from competing on home ground and exposing these fatuous inept dinosaurs    

Baptiste Say's picture

Nato doing our dirty work and keeping oil flowing?


If by that you mean halting Libyan exports, destroying export infrastructure, killing civilians, forcing prices up and stealing a higher stake of oil revenue  for the sake of Exxon, BP, Shell, Total, Chevron etc then I agree.

ibjamming's picture

More fool than wise I'm afraid you are...wisefool.

It's merely a ruse...make yourself LOOK weak and foolish...then when your enemy underestimates wallop them!

turbomango's picture

One Chinaman to count the yuan, and one to watch the counter, a third to watch the watcher, and then a fourth to watch the fourth watcher... and on and on... exponentially. 

Id fight Gandhi's picture

One chinaman surely works way harder than any Englishman, Frenchman or Greek that's for sure.

And if one ain't enough they got billion and half more.

But then there's Mao and the whole quasi communist big brother system going on. They'll fuck it up somehow. Forget to censor the Internet for a day and the shtf.

sethstorm's picture

Sure about that, or how much Chinese tea did you gulp down to agree with that?

That claim of "hard work" is borne out of slavery, the Chinese way.   Not a model you want to emulate, but a model you want to eradicate.

The only hard work the government has to do is to make sure nobody who isn't of a proper background has any freedom, versus giving it to every citizen in Western Europe and the United States.



sunny's picture

Let's see now, they have $1+T of US paper and they trade a big chunk of it to euroland for bonds on German, Dutch, French bonds and more good will than you can shake a stick at and leave the US with the serious risk.  Doesn't sound too dumb to me.


zaknick's picture

China and Russia are actively wooing Europe away from London and DC. Europe's future is eastward with massive exports from Europe to Asia as well as Russian energy westwards already part of the economic fabric. Most of the SCO and some of the CST countries have bright futures in need of European technology. I predict that this will be the new economic and scientific center of mankind (Shanghai PUBLIC schools had the best scores in the world with the US a distant has been) if the banksters fail in launching nukes.

Tyler bitched out a long time ago, that's the why of this recent emphasis on euro doom. Your day is coming.

doomandbloom's picture

Ben Fulford has been saying for the past month that China has agreed to a new 'financial system'....and as usual i discarded it as his overactive imagination.


now this...very intersting...

jeffgroove102's picture

Lots of busy bodies issuing worthless paper is all I see.

Great test scores in school are great, but rote memorization does not necessarily make a creative genius.

I look forward to the day, when people start judging others by their character, and thus begin to actively exclude people whom are committed to doing the wrong thing. This is one thing that the amish get right. The community looks down on you, and you are actively excluded from doing business, this is how it should be, as it seems that TPTB are not the least bit concerned about playing by the rules especially when it applies to them. This will only mean long term havoc for society as a whole.

sethstorm's picture

Junked for your use of bad education statistics.

Those kids were hand-picked to make the test look good.  Control for that, and the US jumps up while China goes way down.

Hopefully the nukes get launched on China to send it back for a few more centuries.

trav7777's picture

US schools and students are among the best in the world if you subtract blacks and hispanics.

QuantumCat's picture

Ultimately, China will hold the world's IOUs... and when the rest

snowball777's picture

Quantum cat is not coherent.

XPolemic's picture

Really? I thought it was the spin ...

QuantumCat's picture

Ultimately, China will hold the world's IOUs... and when the rest of the world defaults, China will have a legal and logical claim to demand restitution that can only be paid by some form of slavery. When the world refuses to pay... the battle for the New World Order will commence.

onthesquare's picture

Then the worlds population will go down just like the NWO wants.  So the question is not if this scenario will play out but WHEN?

QuantumCat's picture

Strange glitches... can't even edit my own comments.

snowball777's picture

Well now I know your position, but your momentum remains a mystery.

QuantumCat's picture

I can be in two places at one time... perhaps that's my problem.

MayIMommaDogFace2theBananaPatch's picture

And dead AND alive simultaneously...

you've got LOTS of problems to choose from.

Zero Govt's picture

don't see them as "problems" but as opportunities...

...i think that's how Obumma-Biden-Timmays strategy works, "never let a good crisis go to waste"... this is why these clowns are making so many presumably?!!

Dugald's picture

And most of the arable land in Australia.........

sethstorm's picture

Repudiate the debt and seize any Chinese assets.  Screw them doubly.

Why give China the benefit of the doubt?

falak pema's picture

The USA couldn't take Vietnam. They are shit deep in Afg/Pak...with no progress...When they really leave Iraq it will implode out of US sphere. But you want them to obliterate China...what bean counting and history reading are you ingurgitating?

ISEEIT's picture

Found a great video. Segues to the topic when considering the ponzi factor of this B.S.

Bonus...Involves a HOT Libertarian chick.

chinaguy's picture

False flag - straight out of Sun Tzu