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Washington Blinks: Will Seek Partnership With China-Led Development Bank
Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB. Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application. Because the AIIB effectively represents the beginning of the end for US hegemony, the White House has demeaned the effort from its inception questioning the ability of non-G-7 nations to create an institution that can be trusted to operation in accordance with the proper “standards.” Now, with 35 nations set to join as founders, it appears Washington may be set to concede defeat. Here’s more, via WSJ:
The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank.
The collaborative approach is designed to steer the new bank toward economic aims of the world’s leading economies and away from becoming an instrument of Beijing’s foreign policy. The bank’s potential to promote new alliances and sidestep existing institutions has been one of the Obama administration’s chief concerns as key allies including the U.K., Germany and France lined up in recent days to become founding members of the new Asian Infrastructure Investment Bank.
The Obama administration wants to use existing development banks to co-finance projects with Beijing’s new organization. Indirect support would help the U.S. address another long-standing goal: ensuring the new institution’s standards are designed to prevent unhealthy debt buildups, human-rights abuses and environmental risks. U.S. support could also pave the way for American companies to bid on the new bank’s projects.
“The U.S. would welcome new multilateral institutions that strengthen the international financial architecture,” said Nathan Sheets, U.S. Treasury Under Secretary for International Affairs. “Co-financing projects with existing institutions like the World Bank or the Asian Development Bank will help ensure that high quality, time-tested standards are maintained.”
So essentially this is just the old “if you can’t beat ‘em, join ‘em” strategy disguised as an attempt to bring the AIIB into the fold of US-dominated multinational institutions.
But make no mistake, this is at best an example of Washington cutting its losses and at worst an outright surrender, as no one should pretend that the AIIB, which is starting with $50 billion in capital, will remain subservient to the ADB which, after five decades, has barely three times that amount:
Infrastructure needs around the world are enormous. Emerging countries need new ports, railways, bridges, airports and roads to support faster growth. Developed economies, meanwhile, must replace aging infrastructure. The Asian Development Bank estimates its region alone faces an annual financing shortfall of $800 billion a year. The consulting firm McKinsey & Company estimates global infrastructure-investment needs through 2030 total $57 trillion.
By comparison, the Asian Development Bank has just $160 billion in capital and the World Bank-which has co-financed with other regional institutions for years—has around $500 billion. The China-led bank plans to have a $50 billion fund to start.
And with that, one more leap towards de-dollarization is now in the books.
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oh shit!
Uhhhmmmmm...Look for the USSA and Israel to "Stuxnet" this new banking system into overnight oblivion.
One conspiracy is as good as another.
Perhaps the Rooskies will nuke it and place an aritcle in the ZH well read RT about the US nuking it.
Just say'n
They need some Goldman Sachs experts.
Do they have ATMs
The Obama administration wants to, "address another long-standing goal: ensuring the new institution’s standards are designed to prevent unhealthy debt buildups,"
What a crock of shit!
This has been the sole goal of the IMF and World Bank since inception!
lol'g big time. only one goal -stiffle competition. oh, yea, great partner to have on board. moar crony banksters in the same room. fucking joke. if they were smart they would tell dc to fuck off. we'll see...
Perhaps by "unhealthy", they mean too little?
Yeah the part about "high quality time tested standars" made me laugh, too
...ever been at a party...everybody laughing having a good time...then fucking waldo walks in....
Excuse me sir,
You still have egg on your face.
The bully got punched on the mouth!
What's the fucking surprise here? Hasn't Obama's main focus been to "take America down a peg or two" all along? Did you really think he wasn't dead-ass serious about his vision of "Hope and Change"? How do you like it now, bitchez?
The grotesque euphemisms here is.what's most nauseating.
With pejorative language, the birch author describes US as a benign entity promoting time honored internationalism, with China as the shift duplicitous schemer.
believe it that all this is and has been according to plan. Taking down the dollar and America has always been the plan eventually. And don't forget what Kyle Bass was told:
"We're just going to kill the dollar."
https://www.youtube.com/watch?v=9cjbbt__78U
And it appears they're succeeding on all fronts.
The article above references the US and their ambitions to join the AIIB, but no where do I see any Chinese reference or confirmation accepting that proposal.
Good thing Barry is more flexible now.
I can see the Chinese having *some* ties, if for no other reason than keeping your enemies close...
Under no circumstances do I see Chinese authorities giving up any aspect of power or control, which is why a military confrontation is probably already being drawn up at the Pentagon.
Washington Blinks: Will Seek Domination of China-Led Development Bank
FIFY Tyler
The only way to have infulence over this is to corrupt it from within.
A hint to the wise is sufficient, we should act accordingly. As I heard recently, the Titanic hit the iceberg, the USD was in the stern, others were aft, and when it nosed down it lifted the stern high out of the water. The end result was that all were on the bottom about 13,000 ft under.
No expert in the world has this figured out, a real mess it is. The Neikki exchange is about to climb back above 20,000 again. Of course the Yen has fallen by about 100% so I believe I'm painting myself in a corner so I sure don't have it figured out. I do know that the Yen once was above 300 and their exchange was over 40,000. That was over 20 years ago and things are still screwed.
Japan tells me that this punch bowl can survive with a floating turd for decades. I'm thinking immediate collapse may not be the path it unravels, we may need an extended time lapse camera to fully detect the rotting corpse in the steel and concrete canyons. Shit if I know.
As far as the Chinese are concerned, Obama has no face left.
im a bit bored by these claims of things that represents the beginning of the end for US hegemony
first it was saddam and gaddafi selling oil for euros. then it was china-other country currency swaps. then it was the russian and chinese SWIFT alternatives. now its this. Its just another brick in the wall
All part of the Hegelian Dialectic. Not happy with the IMF, BIS, and World Bank? Check out this new bank that totally isn't run by the same globalists to make people think they have a "choice".
I don't care where you are from.
If you have something I want and I have something you want, let's deal.
Currency is, in essence, a way of making this possible between more than two participants, nothing more.
Once a small group has control of currency there are bound to be problems.
Money is a whole other ball game.
as long as it's gold-backed they should be good
Agreed.... if the Chinese accept it ... they rae idiots... another bunch of crooked banksters playing in Asia .. to squeeze it dry .. impoverish billions and like the US two party system .. two wings of the same vulture picking our bones clean.
Your comment is worth repeating without being flagged as a double post.
thanx
Thanks Obama
very thank you
Debt really is not really unhealthy until you get past 18 trillion or so they say?
i thought the magic number was 20 trillion. fubar. growth baby growth. ha, we can grow the fed balance sheet, green shoots. moar debt to service to keep the private fed reserve growing. taxes going up- oh yea. policy tools anyone. policy tools to keep us beat the fuck down. and how did the fed get these policy tools, ha, about 1913 the whole scheme was hatched. here we all sit - helpless, subserviant to a handfull of policy tools administered to keep us hammered down, complict with about 430 or so treasonus liars. sums up our lot...
and if you or i get out of line, out comes the violence squad, the irs, of course.
pay up fuckers, april 15th is right around the corner, ha, and don't forget to pay your ACA penalty. what a lovely country we live in, ha again.
Don't know, but they have the Union Pay credit card. I hear it gets good reviews. It has and will continue to transact outside the US dollar system.
Wish there was a way to open an account without having to visit an Asian bank
The AtMs are what got O'bozo behind the plan
(and I ain't talking about the machines).
In Obama's case it's actually MtA. It's been that way his hole (sic) life.
They need some Goldman Sachs experts.
Already done: http://www.goldmansachs.com/our-thinking/archive/archive-pdfs/brics-drea...
Just following the CFR's plan. De-dollarization leading to Yuan reserve currency.
heh - sometimes I like to browse the CFR site for a snort and a horselaugh.
So far they haven't seemed that thrilled about China's latest dastardly scheme. It looks to me like China got the jump on them and now they are realising that Barky may not have been the best messenger on this one:
http://blogs.cfr.org/asia/2015/03/16/the-aiib-debacle-what-washington-sh...
<<In the fall of 2014, the U.S. government caught many by surprise when it made an aggressive and public effort to persuade countries not to join the Beijing-led institution. The United States clearly had concerns about the economic and political implications of a new multilateral lending agency led by China, and in any event, it was highly unlikely that the U.S. Congress would approve a financial contribution allowing the United States to participate. The Obama administration’s efforts led a number of countries to hold back from signing on the the AIIB. The decision by the UK, and subsequently, France, Germany, and Italy, to participate is therefore significant not only because they will be major shareholders, but also because the decision by traditional U.S. allies signals that Washington is increasingly isolated.>>
http://www.cfr.org/global-governance/bank-too-far/p36290
<<From all accounts, the Obama administration has expended serious energy trying to dissuade its allies from joining the bank at least until greater clarity is offered as to the decision-making structure of the institution. With the defection of the UK, however, it appears likely that Washington’s carefully constructed coalition will gradually unravel—both Australia and South Korea are apparently reconsidering their earlier reluctance to join the bank and could well use the UK’s decision as political cover for deciding to join the bank.>>
This article warns that it is unlikely for Congress to agree to be part of this thing:
<<The Beijing-backed bank appears to be gaining momentum for its expressed goal of addressing wide infrastructure gaps in Asia. But the bank also reflects Beijing’s dissatisfaction with existing global institutions and its desire to play a leading role in the Asia-Pacific, says CFR's Robert Kahn. Though it would be a positive step for Washington to join the bank, Kahn says that there is little chance that Congress would approve U.S. participation.>>
Marching orders?
And by the way, watch out, Canada & Mexico. Your bosses seem to have a plan to get you to jump aboard the USA Titanic to make the whole place into one giant police-state slum, where YOUR resources are about to be -- what's that word pollies love so much? -- "SHARED":
<<The Task Force proposes a comprehensive set of recommendations for deepening North American integration, concentrating on four pivotal areas—energy, economic competitiveness, security, and community. These include: ... Bolstering economic competitiveness through the freer movement of goods and services across borders. Upgrading infrastructure and policies across borders would interconnect national economies securely and efficiently. Recognizing trilateral economic interests, the United States should also include Canada and Mexico in its negotiations for the Transatlantic Trade and Investment Partnership (TTIP) and other free trade agreements. ...Capitalizing on North America's promising energy outlook. The North American countries need a regional energy strategy ... Strengthening security through a unified continental strategy and "continuous border innovation." While working toward the goal of a unified security strategy for North America,... Fostering a North American community through comprehensive immigration reform, workforce development, and the creation of a mobility accord to facilitate the movement of workers. The U.S. Congress should pass comprehensive immigration reforms. To better aid the movement of North American workers, the three countries should also create a North American Mobility Accord... >>
http://www.cfr.org/north-america/north-america/p33536
Prends garde a toi, Canada and Mexico. That bloated fat mess of a fascist state has its sights on YOU, and yer stuff. Time to hit the lifeboats, or sink with it.
I will lose all respect for China/Russia if they fold like boner & POTUS....
There is a club see......and you ain't in it..............LOL
WE are tired of FATCA, NSA, TSA, CIA, FBI, and any other INITIALS so go over there in the corner and fuck yourself....and Pelosi and boner and anyone else you can talk into bending over....
I am sorry Mr Obama, we can't let you join us until you are free of your national debt. Now, could we interest you in a 18 Trill$$$ loan with an extortionate rate, what do you have in collateral?
Once upon a time, Cankles visited Beijing as
her first official duty as Secretary of Stare
to reportedly offer the Continental US as
collateral for more loans. Been there, done
that.
We be fucked, bitches.
nice disection-thanx
Only thing worse than a Washington pivot to Russia/Middle East/Asia, will be a Washington pivot to North America.
Manifest Destiny is about to become the next nightmare for freedom-loving people, but this time the ROW will be the ones with the popcorn.
Chickens about to come home to roost, along with HEAPS of unwanted USian dollars and angry, underemployed USian military fascists. Canada and Mexico had better decide whether they are willing to get pulled into the gutter with the Land of the Free, and they better do it soon. When the Zionists get kicked out from everywhere else, they'll descend right here like the proverbial plague of locusts.
Russia and China aren't going to slay the beast for us. They'll be happily looking after their own borders, and enjoying worldwide trade. It's time for us on this continent to turn off the TV and start looking after our own. That is, if we like drinking our own water and growing natural, wholesome food...
Actually, we're all looking forward to accessing those nice, pristine Canadian rivers and lakes to make Nevada, Arizona et al. bloom as never before.
Maybe we'll even share with the Mexicans, too.
Mexicans I can't speak for, as I've never been there. I live in Canada just now.
But if Canadians are complacent and stupid enough to lose their pristine resources to a bunch of fat American fascists, free shit army parasites, and freeloading police 'officers' playing war, then I say they don't deserve a country of their own anyway. We'll see if the cunt queen is willing to do some kind of share program with the vatican vampires.
My guess? They'll miss the new 'laws' integrating their continent into one giant nasty slum, too busy watching MSM diversity and terror programming. They won't know a thing about the new police state, until the door gets kicked in by some team of filth with a No-Knock. Or until the next 'routine traffic stop'...
they don't recognize borders. they don't give one shit about you or i or our sov. borders. they want it all. they met their match. china just playing the same game with a stronger hand, handed to them by nafta ect. now the gutting of america starts to become poverty for the majority. they could care less. look no further than the mic. all that money could have paved the streets with gold. infastructure, rebuilding the grid. high speed rail coast to coast. the money is now debt we get to service administered to us by treasonus liars, all 430 of them.
china built their infastructure on a mountain of debt, but at least they have a moderized country. what do we have? f-35's, drones, and the best bombs money and technology can produce. great plan for our kids...
FUBAR
poverty baby poverty...til the dollar swirls into the hole, then the fsa comes out of the woodwork looking for some food. shit gets real pretty soon. hungry, skillless downtroden folks...
Renfield.. I think the integration of North America began over a decade ago .. NAFTA was just the beginning .. then came SPP . Security Partnerhsip pshed by Le Shrub with Harper and Fox in about 2007 or 06 .....the SPP . its got all kinds of security arrangements integrating Canada and US systems ... http://www.globalresearch.ca/continental-integration-of-military-command... The creation of Northcom in 2002 . that is what this is about .. 911 was used at the rationale . but this unification was in the works long ago .. right after the Cold War ended .. articles began to appear in CFR publications and even US Army pubs about this unification of command structure .. Anway .. '''''The creation of NORTHCOM announced in April 2002, constitutes a blatant violation of both Canadian and Mexican territorial sovereignty. Defense Secretary Donald Rumsfeld announced unilaterally that US Northern Command would have jurisdiction over the entire North American region. Canada and Mexico were presented with a fait accompli. US Northern Command’s jurisdiction as outlined by the US DoD includes, in addition to the continental US, all of Canada, Mexico, as well as portions of the Caribbean, contiguous waters in the Atlantic and Pacific oceans up to 500 miles off the Mexican, US and Canadian coastlines as well as the Canadian Arctic.'''''''''''
Look for China/Russia to tell US to go fuck themselves.
Aye, China and pretty much everybody else, is tired of playing USA CalvinBall!
Look for BOI to join or to use the BOE as a way/conduit/proxy to join the AIIB.
There's no way that Tel Aviv will want to be left out in the cold. In which case, London will be its Host once again, and I'd look fir London to press real hard to be the CNY center for Europe.
y3maxx - " Uhhhmmmmm...Look for the USSA and Israel to "Stuxnet" this new banking system into overnight oblivion. "
They'd try that, except all the really smart A students from American university computer science programs are Chinese.
Picture caption:
O: I feel so exposed. Being without tie signals lower class status.
Xi: [smiling] You are so perceptive. Mao had a side bet with JFK to demonstrate how powerful was mass media within America. "You will kill the Fedora [hat] business if you go hatless for your [1960] inauguration." JFK did so and the American hat business died. Mao won the bet.
Let's see what happens to the tie business, another exceptional bubble.
If we're going to print moar yuan and somehow get it into circulation then we need to find people to whom we can loan it. If we can get more yuan into circulation we can more quickly dethrone the king.
Print yuan and give it to the Chinese people.
Of course they did, just like they will blink with raising rates in June and instead roll out QE4.
https://www.youtube.com/watch?v=i9bHuquTFCs
There can only be two scenarios here:
1. USA joins to keep enemies closer and bugger up the new system; or
2. A new global consensus has been reached with USA jumping on the wagon to secure some sort of softer landing.
why invit usa or let usa join a new system then.... if the final goal is to let usa as insider controling everything... better let em in charge officially of the actual system.
just because of all this, usa will not join/have any responsability in the new system, it is a non sense for all others who want to be free, to act like they want without the weight of usa on the back...
just my pov, but i think i'm right.
It's 10 PM PST, theres six guys on my porch bandin g on my door, will fll you ijn later
>> US application will be accepted
>> Either overtly or because of 'delays', US application will not be accepted
I incline to the latter, because I bet membership is going to hinge on gold, and I also bet the US doesn't really have any. (Membership to be conditional on US finding some gold?) 'Deep storage' gold is unlikely to count for much.
"I incline to the latter, because I bet membership is going to hinge on gold, and I also bet the US doesn't really have any."
I agree, but the DC US does have gold--It's in Venezuela. The Zionist West's DC US war dog will come pick it up soon like they did in Libya and Iraq.
The banksters need to repay us.
When the bullion runs out, there is always gold teeth from the FEMA camps.
The gold and silver will make it into the country disguised as parts of manufactured items of suspect consumer demand. It's flowing into the US, you can bet on it.
I find it interesting to note that China, India, and Russia (in spite of the sanctions war, fall of the Ruble, and fall in the price of oil) have all been stacking Gold, and are now eminently well placed to back their currencies with Gold. The central banks of many EU nations have been repatriating their Gold from London, New York, and each other.
At the same time, some of the Too Big To Fail banks have been closing their Gold vaults.
As of March 20,2015, the closing of the London Gold Fix apparently means the Bullion Banks have relinquished a big part of their control over the price of Gold through the London Fix to a new auction system that is said to promise more transparency. It has long been argued that the London Gold Fix system allowed the bullion banks to manipulate/suppress the price of Gold.
www.marketwatch.com/story/the-way-gold-prices-are-calculated-just-change...
www.marketwatch.com/story/a-key-part-of-the-gold-market-will-see-a-major...
this trend could be your friend in a big golden way! follow the flow...
>> US will not make an application
Thats where the cofiscate the citizens gold pony up sheeple
The U.S. restocked its shelves with gold by way of a secret transport plane to Ukraine just after Maiden. The same thing happened in Libya after Gadaffi was deposed (hosed of shovel handled). Word on the street the move was for safekeeping. That's a Pharoah term for heist. http://www.zerohedge.com/news/2014-11-18/ukraine-admits-its-gold-gone At leastThe U.S. should be able to purchase a ticket to the party?
They'll be accepted, and then told to sit quietly in the corner.
May you live in interesting times .
I know someone who could just cut a check. The name starts with a R.
Reagan.
I sure hope that China doesn't let the "hens" in.
They will just ruin the duckpond.
The banksters need to repay us.
Amongst us, not of us.
I see this as more important in the political sense as opposed to the popular meme of the iminent demise of the dollar. I am not saying it is not significant but that for now it is a step that holds potential. It will be a long road to dethrone the dollar.
I find it curious that China is making many of these countries "members". What rights do members have? Is it like having an account in the local bank or is it like having a seat on the board of directors. Beside the opportunity to make some profit many of these countries may intend to attack or contain this org. from within.
As I have said before, the true competition is China, not Russia. I also believe China will assist Russia by doing business with them but will not be drawn into any military hostilities on Russia's behalf. Consider what China is accomplishing and compare that to Russia just now accomplishing a system where it's internal banks can do business without SWIFT being the middle man.
"It will be a long road to dethrone the dollar."
Especially if you consider the US shadow government's global drug business. That business alone will keep the dollar in the game for some time.
The CIA gates the Euro because it has larger denominations than the USD/FRN, and is preferred by the drug trade over the Dollar.
I have heard that. Don't know because I'm just a working frone. However, If those guys go to the new China system the buck is toast.
Deleted accidental duplicate
Application denied.
"Helro! AIIB! Apprcation Dept. Pless 1 if you USA! All other countries pless 2.
Let me guess, Larry Summers will be the designated rep.
William,
At the highest Criminal Compartmentalized levels, they're all "in on it."
So when does Lew fly to Peking to kiss Xi's ring, or will it be Obozo, at least he
has practice genuflecting.
The neocns will be going apeshit about now.
PNAC...........Project for a new Asian Century
Xi: You give good head, Brobama! Wait! Hold Pose! I take picktur to send to Vrad!
O: Urglegrrpssslurpp!
Should've thought about that before they fumbled the fucking ball 3 times in a row.
Application lost
sounds like you've had some military experience.
application for dc, 5000 pages. on page 4456 if asks if designees are able to pass a psycological test of honesty, fail...
It's still Not too late to bid on my Gold at $10,000USD. Snorkeling equipment not included.
$9999 and I 'll throw in a garden hose.
$9998.99 and I have my own scuba gear.
New World Order, same as the Old World Order.
One word:
Sabotage.
Big fucking deal moar fiat printed by the oligarchy. Just another World Bank or IMF set up to skim money. What happens when this new "BANK" loans out money and those that borrowed can't repay?
The debtor gets IMF'd Shanghai style.
Wash, rinse, repeat. Same shit, different day. Same old, NWO.
Leave middle east and Ukraine and we will consider your application.
Maybe Israel will let us join their bank.
...and we will consider not dumping the large percentage of your treasuries we hold to fund our IIB.
Chaina will say no. Got gold???
When asked about the proposal, Chinese Ambassador to the U.S., Cui Tianki, was reported to have said "Thanks, but fuck you!
If the IMF can use its position at the table to impose a policy of loading up small nations with debt, and then using that debt to extort control over the government, then AIIB will just more of the same. If the Russ and the Sino are too smart to let that happen, I suspect the Squid and the rest will lose interest in being a member.
The AIB is the lead manager of the lending.The squid will be secondary at best.
lankfein is not going to be happy.
Xi: Haha, Brobama! Want to join Bank? What you pay?
O: I thought maybe 20 Billion...
Xi: AIIB no want money, Brobama. You give...Taiwan?
O: Sure. I don't live there. Blow it up.
Xi: Ha! PLC not rike USA, Brobama! We want Pro-duck-tivity!
O: So, OK, can we join?
Xi: Arso, you must reave Japan! May keep tloops in S Kolea, young man in north is Clazy!
O: OK. Is that it?
Xi: One more. You must spend 1 night arone in ruined nukrear powler prant in Fukoshima to show you worthy of AIIB!
O: Uhh, no.
Xi: Rook here: All USTs. I dump them unress you stay Fukoshima, Brobama!
O: Can I use Mike, err, Michelle as a shield?
Xi: OK. Stay behind giant ass, maybe you live to prove worthy!
U LACIST!!
There's still some chink in your risp.
ho lee cow
In 2005 the United States applied for observer status in the Shanghai Cooperation Organisation, but was rejected. The US request for AIIB membership will receive similar treatment.
"Indirect support would help the U.S. address another long-standing goal: ensuring the new institution’s standards are designed to prevent unhealthy debt buildups..."
Unbelievable...
Another one is -
"cofinancing projects with existing institutions like the World Bank or the Asian Development Bank will help ensure that high quality, time-tested standards are maintained.”
could not stop laughing.
Yeah, how they must have laughed when they were writing that. Ma achin' sides.....
At last, 'Murika UNDERSTANDS. Let's all celebrate and get drunk!
No bombs, no predation, no exceptionalist gobbledegook, handshakes, goodwill, sharing and fair-play instead.
What part of fair-play was so hard to get?
Don't break out the sterno yet.
300 million brainwashed Murikans are going to have to be reprogrammed first.
Thats some culture shock,to be USA #2 USA #2, all of a sudden..
Yah but we are still world champions at baseball !!!
Yes and number 28 in maff.
<<What part of fair-play was so hard to get?>>
The part where bankers had to find productive work for a living.
If allowed in, the US will either turn it into another IMF, so more of the same, or sabotage it. It gets more interesting if the US is excluded.
Those statements in the article aren't even subtle about US intent. It's doubtful US diplomats could fool Beijing's aparatchiks, but not a chance with that slop. Beijing has been the center of an Empire for 3000 years. They know the difference between jelly and jam.
Sabotaged by NGO's.
It's all bullshit....until someone goes off script...
The Chinese would be fools to do any partnering with a US-dominated institution.
"HUDSON: Well, the idea is to make an alternative development philosophy to the World Bank. From the very beginning, the World Bank has been basically an extension of the U.S. Defense Department, from the first president, John J. McCloy, who is assistant secretary of defense, down through Robert McNamara, 1968 to ’81, and then by the neocon cold warrior Paul Wolfowitz, 2005 to ’07, and Larry Summers, the chief economist, along with Bob Zoellick."
"The World Bank is pressured everywhere for privatization of public utilities, of basic infrastructure, and then it will make loans to the governments to develop this infrastructure or the roads and the external economies, and then sell them cheap to American buyers, who essentially will create monopolies and turn infrastructure into a rent extraction to squeeze out interest, dividends, management fees that are all going to be paid to the Americans. And this has been raising the price of basic utilities–communications, transportation, water, and other things throughout the Third World. And this has made these economies uncompetitive with the United States that has a mixed economy where the government subsidizes infrastructure. So the Chinese Development Bank is to help make other countries get independent of this sort of neocon, neoliberal, right-wing economic philosophy and work government-to-government, help governments develop infrastructure, so that they can provide basic services at a lower cost or a subsidized cost, or even freely to the populations. That’s how the European countries and American economy got rich. And the only way to help repeat this process is to make a clean break from the United States and the World Bank."
http://www.nakedcapitalism.com/2015/03/michael-hudson-europe-tilts-east-...
Paging John Perkins.
Yes.
I hope one of the goals of the Chinese bank is to counter this as you believe.
Also, there is a game afoot to make a countries infrastructure the collateral for loans. Even loans that will be used to pay banks their interest on previous loans (previous loans without such collateral).
The Chinese themselves borrowed heavily from the World Bank to develop their infrastructure tune of half trillion dollare in the 80s and 90S.
", is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank."
So backed by paper and debt.
China/Asia to US & NYC-DC-Hollywood elites: "you can't do shit in this world without fucking up anything you touch"
...implication: now it's our turn.
A seminal event, for sure.
Xi: So, Brobama, you back. You did not spend night at Fukoshima?
O: Err, no, Mike, uhh, Michelle got real sick. I was scared and ran off.
Xi: You reave man-wife to die?
O: Never mind. Look, Let us in. I have new TS sub plans here.
Xi: Already got copy off Hillary's mail server. No thanks.
O: OK, here is some good dirt on European leaders.
Xi: Already have plenty from Srick Willie.
O: Dammit!
Genius! LOL!
it is a good time for anyone able to do so to either hunker down with your neighbors, friends and family or bugout to a permanent ex usa work and play spot where they will put up with an american.
This is probably a stupid question to ask, but what nations are they going to develop, and what natural resources do these nations' possess that will be provided in exchange for the investment? Also, I'm fairly certain I've read more than a few articles on ZH regarding the chinese financial sector's wisdom and ethics.
The chinese would be crazy to let the US in their Bank - they will have afield day showing how their terms are better than the WB short term and long term (No Rents upon default and privatization of the projects) plus the projects will be 60% cheaper to build
I hear Jack Lew will trot out Solyndra as an example of their high standards. oooops
Wercomengo shitty bank can I take your apprication prease.
What's a mattel you amelicans? Feering a bit ronery?
So ronery!
Hard to believe that the Chinese would be so stupid as to let the US join, after all the AIIB is intended to shift large parts of the world away from the influence of US dominated multinational institutions. Be good to see the dollar crash and burn and all the collateral damage arising from that.
"Hard to believe that the Chinese would be so stupid as to let the US join"
The Chinese will do anything as long as it makes them money. Note the keyword here is "them", i.e, not the 'Murikans. And historically, no-one has ever beaten the Chinese at trade. You DON'T steal a penny from the Chinese, since they love their cash, they're extremely astute and they have over two thousand years of experience at being the world traders n°1.
On the other hand, for the world peace, which is all that matters, they're ok. They have never been imperialists and they offer sound, win-win partnerships.
So, 'Murika is going to have to change its ways. No bombs, no threats, play fair and abide by rules. Can it do that?
Just because you invite yourself to the party, doesn't mean you get a seat at the "Big Table".
Based on the PBoC and Chinese politics, I'd say theyre going to milk the U.S. for all the free intel and $ donations they can. China will probably hedge a portion of their UST holdings as good will, bypassing any need to come up wiith additional liquidity.
It makes sense for China to keep the U.S. in the loop so that they can learn how all those petro $'s were invested and squandered over the last 35-40 years.
There go the neighborhood.
Indirect support would help the U.S. address another long-standing goal: ensuring the new institution’s standards are designed to prevent unhealthy debt buildups, human-rights abuses and environmental risks.
Did the US really say unhealthy debt buildup?
How very sad.
It is still 100% FIAT. As long it is FIAT (dollars/yuan/euro printed up out of thin air), then it means NOTHING - the same puppet masters are behind the scenes.
I, for one, will welcome our new Oriental overlords.
p.s. Hail Hydra!
This is the asshole that's going to negotiate with Iran over weapons? The people that invented chess?
This fucktard couldn't negotiate his way across a street successfully. This should workout fantasticlly!
LC55 you are tearing it up sir.
if you can't rick them, join them
I'm not really sure how many factions are in play anymore. China marches to its own beat, and has really always been a world unto itself. This is a natural projection of power for them, along with joining with Russia and Iran. It's their most rational choice.
The NSA ( U.S.) has been controlling the rest of the world by the SWIFT system, controlling accounts, their usage and everyone's slush money.
The US has been controlling the rest of the world through the IMF and the World Bank. The policies were meant to rape the countries who availed of the loan and to take them over.
The US ( owned by the Fed) has been controlling the rest of the world through Dollarisation and making countries and people hold useless worthless dollars that are printed/digitaly released at the Fed (and their owners). They have been doing this using the Dollar as the kingpin for oil prices . Then spoke of Globalisation of Trade, which was actually Dollarisation of Trade. This helped to make all countries dependent on the Dollar and make them toe American policy in order to have trade.
Europeans do not seem to understand that they have become the slaves/vassals of the US . Asians & Russians on the other hand have bided their time and will make their moves. Germany is possibly the only European country which will break from the EU and Nato and join the BRICS alliance.
It's a BIG laugh to think that the US can join/partner the Chinese/Brics/ Asian Bank. The partnership has not worked at the IMF or World Bank levels in the first place. The UN has been another failure.
The sooner the American people remove the Fed and it's octopus tentacles, the sooner their new and free journey can start.
I hope the Chinese aren't naive enough to let the US in. Once inside, they will do everything they can to subvert and destroy it.
The cubans are making the same mistake. Once relations are restored, the CIA fronts like NED will go to town building a fifth column in Cuba to destroy the country.
You're right about the US govt having a ulterior motive for asking in, but we can be sure China saw this coming. They play economic war games, and I'm sure they've seen various outcomes.
Keep your friends close and your enemies closer.
The US asked to be included in their reindeer games. If China declines, it will crush Obama's already tarnished reputation.
The only question now is: Will the Chinese let the Obamanation down gracefully, or crush him under their boot like the pissy little bug he is.
Ghost Cities For All Asia!