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US Hegemony, Dollar Dominance Are Officially Dead As China Scores Overwhelming Victory In Bank Battle
It’s official: everyone has caught onto the fact that the Asian Infrastructure Investment Bank story is extremely important. We’ve covered this exhaustively over the past month, but to summarize, the China-led development bank essentially marks an epochal shift away from traditionally US-dominated multinational institutions like the IMF and the ADB. Meanwhile, it also represents an implicit attempt by the Chinese to usher in a kind of sino-Monroe Doctrine and solidify their regional — and, to a certain extent their international — ambitions. In a desperate attempt to undermine the effort and preserve what’s left of US hegemony, Washington aggressively lobbied its allies last year to refrain from supporting the effort. Then the UK decided to join calling the bank an “unrivaled opportunity.” That effectively opened the floodgates and in short order, a bevy of Western nations and close US allies suddenly reversed course and indicated they were likely to support the new institution. Here’s more:
- US Attacks "Closest Ally" UK For "Constant Accommodation" With China
- De-Dollarization Accelerates As More Of Washington's "Allies" Defect To China-Led Bank
- US "Isolated" As Key Ally Japan Considers Joining China-Led Bank
- US Upset At West's Lack Of War Preparedness
- Treasury Secretary Lew Admits US "International Credibility & Influence Is Being Threatened"
With the deadline for applications fast approaching, news coverage has picked up markedly of late. Here’s Bloomberg for instance:
China’s clout has been expanding for decades, as its rapid growth allowed it to snap up a rising share of the world’s resources, its exports penetrated global markets, and its bulging financial assets gave it power to make big individual loans and purchases. Now, the creation of international lending institutions is leveraging that economic influence closer to the political and diplomatic arenas, as U.S. allies defy America to back China’s initiative.
“This is the beginning of a bigger role for China in global affairs,” said Jim O’Neill, U.K.-based former chief economist at Goldman Sachs Group Inc., who coined the term BRICs in 2001 to highlight the rising economic power of Brazil, Russia, India and China…
Chinese President Xi Jinping’s vision of achieving the same great-power status enjoyed by the U.S. received a major boost this month when the U.K., Germany, France and Italy signed on to the Asian Infrastructure Investment Bank. The AIIB will have authorized capital of $100 billion and starting funds of about $50 billion.
Canada is considering joining, which would leave the U.S. and Japan as the only Group of Seven holdouts as they question the institution’s governance and environmental standards.
Australian Prime Minister Tony Abbott’s cabinet approved negotiations to join too, according to a government official who asked not to be identified as the decision hasn’t been made public. Founding membership will be finalized as soon as April 15, a Chinese official said today.
“China’s economic rise is acting as a huge pull factor forcing the existing architecture to adapt,” said James Laurenceson, deputy director of the Australia-China Relations Institute in Sydney. “The AIIB has shown the U.S. that a majority in international community support China’s aspirations for taking on greater leadership and responsibility, at least on economic initiatives”...
The U.S. still has veto power on major decisions made by both the IMF and the World Bank, and a lock on selecting the president of the World Bank. Both institutions are increasingly unrepresentative and undersized compared with demands they face.
As it turns out, not even the very institution that the AIIB is supposed to most directly threaten is prepared to shun the new bank and in fact, it appears as though cooperation may be in the cards:
- ADB'S NAKAO: ADB WILL COOPERATE WITH, NOT BE HOSTILE TO AIIB
- ADB'S NAKAO: POSSIBLE ADB, AIIB COULD COOPERATE ON LENDING
The more isolated the US becomes as it relates to the new venture, the more transparent its motives seem. This was never about “standards” (the original excuse for Washington’s opposition to the bank), but rather about stifling Chinese ambition because, as we noted previously, while “starting an infrastructure development bank may not be an overt act of aggression, if you just sit idly by and let a rising superpower build stuff, it sends the wrong message, especially [when your allies] aren’t willing to spend at least 4% of [their] GDP on the military.”
Here’s The Economist with more on America and its (non)role:
In the case of the AIIB, America seems to be confirming China’s darkest fears: it has adopted a policy of containment that is wrong in principle and has failed in practice…
There are three reasons why America should be more receptive toward the AIIB and its allies’ potential membership. The first is that Asia’s need for infrastructure is vast and pressing. The continent’s relentless urbanisation requires at least $8 trillion of infrastructure spending in this decade, according to the ADB. The AIIB will not finance this splurge on its own: it looks likely to end up with a capital base of between $50 billion and $100 billion. But it will help.
Second, the best way to deal with concerns about Chinese lending standards is to join the bank and improve it from inside, not to throw brickbats from outside…
Third, although it might have been better to expand and reform existing institutions (the ADB, World Bank and so on), America itself has made that impossible. Even a modest proposal to increase the resources of the IMF (giving slightly more votes to China and other big emerging markets) has been stymied for years in Congress.
* * *
To be sure, this is a delicate time for the US in terms of its position on the world stage. The petrodollar is dying, Russia is reasserting itself in Eastern Europe, US-Israeli relations are quickly deteriorating, and now, the world is shifting away from ineffectual US-dominated multinational institutions that, in one way or another, have defined the post WW2 world. The US would be wise to adjust its foreign policy to reflect this new reality rather than desperately cling to the notion that world history is and always will be written by Washington.
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It will not end without blood
Oceans of it, if history is our guide.
Who needs RMB, CHF, USD, Ruble, etc, etc? Oh right, ZH tards with their "strong man" fetishes....
https://btc-e.com
can tyler have ballz to officially publish the count of all his articles named " official dead dollar - dedollarization - end of dollar currency reserve " ?
this guy sounds like he turns on himself like a dog before siting on his couch, it is just fucking boring as it is something OLD, WELL KNOWN, DAILY OCCURING, and we do not give a fuck anylonger, now we focus on 2 fucking things :
1) estimation of W.S crash, leading to 2°
2) date of 1st icmb launch.
Z/H has to stay honest given the mandate to be intellectually honest or the readership will spot a rat. The expectation of a Wall Street crash is p=0.98 while the estimation is 100% certain. The date of the first ICBM is any day now and cannot be predicted by the month or year anymore. The Doomsday Clock is one minute to midnight IMHO. Don't forget that the USA is pre-emptively oriented and conditioned to respond to opposition with regime change if that particular leader does not want to play ball. Putin knows that the Americans want him dead and at the first hint of regime change the Russian Federation is going to launch nukes due to political expediency. The USA is not in a position to dictate terms on Russia, China, or the Ukraine. The USA is as strong as Detroit or Casino Capitalism ended up being after it was used by the Corporatist ethos of diminishing returns. It's simple math, eh.
Tyler just tells them what they want to hear or what gets clicks. It's unfortunant but that has started to dominate the articles being posted.
But now Tyler makes it "official", at least by Tylers rulings, that the dollars dominance is dead. Guess the dollar is no longer the reserve currency and will not be used to settle the great majority of international trade.
As for this new bank. Good poitical move by China, well, at least it is if China stays clearly in control of all important decisions. There are hidden hands that control the IMF and thus it is a powerful tool over lesser countries. If China is not the hidden, or obvious, hand for this bank the political benefit will not be there.
Economically, has the US economy really benefitted from being the power behind the IMF? Since this new bank competes against the IMF, and thus has caused the death of the dollar (according to Tyler) then does that not mean that the dollar was dependent on the existence of the IMF (according to Tyler)? I think the dollar can survive even if the IMF disappears.
Good move by China, good way to get closer to some 3rd and 2nd world countries, another step but no where near the demise of the dollar.
USD brand loyalists. Cradle to the grave. Get 'em while they're still young!
you can't fix stupid, not even with duct tape
Oh thhtop it...
Hopefully the streets will be full of the blue stuff.
Yes, I'm afraid.
This is all part of the world slowly reaching its new equilibrium, where suburban Caracas, Louisville, and Dacca all look about the same, except for the vegetation.
Its mostly the punctuation of the equilibrium that I'd worry about.
I'm OK with it, if it's Lizard, Squid or Vampire blood.
"Tolerance" has its natural limits.
We'll see who's laughing when the US repatriates the manufacture of American flags.
Yeah, that'll show 'em!
<zing>
I don't think we can say that anyone has won yet, until everyone's banking system collapses and we see who is able to stand up again.
Cheech and Chong are running for office, or did they pass you by?
Most important facets of this are London and Japan embracing this while the US sniffles in the corner like a whiny child. London along with DC/New York are the epicenters of financial organized crime and Japan is the slave whipping boy for them. How much longer can the ponzi last at this point?
Still feel the Fed has been curtailed given the 25 other CB moves in 2015 and the Fed's mere jawboning which has lacked punch in my view relative to 2014 and earlier.
A. merica
I. finitely
I. ndebted
B. ankrupted
There is actually a video game called: "Chanticleer Hegemony"
When the Federal Reserve Corpration is done using up the USA, they'll flush the dollar and America along with it.
Standard operating procedure, but they still need to borrow the USA army for a while to complete their ZWO agenda so many generations in the making.
So True, so true.
I think the MIC is now their only obstacle at this point, and needs total defeat for their plans to
go any further.The RoW will not be forced, or left with the threat available,into the SDR nwo.
When the history books are written,prolly in mandarin, Ukraine and the AIB will be the pivots,
or quite possibly it will never be written, by humans that is.
5927099
Economic Babblers...
Fuck the Buck
Bitcoin Last Price $347
I see $244
and any fiat should go into SILVER which is a FUCKING STEAL at this price
whereas crytocrap is a scam
Was your brain a scam too? I hope they have a money back guarantee....
See this is why we first started harassing the new folks that speak above their time invested.
$30 says this turd is here for a few weeks and then disappears after Tyler osts and article about annoying gay people are...
lol, please. At least you can wipe your ass with a dollar.
I'll bet .cn domain names are selling like sharkfin soup.
.cn fx
.cn.asset management
.cn autos
.cn travel
.cn metals
Well, you get the point?
.COM IS KING
So was the US dollar. Things can change.
yuh... .xyz, .guru .nyc .berlin .club .wang .link is really displacing the .com
Puuuhleeze
https://ntldstats.com/
You guys know typical dns is centralized and controlled by icann right? The Internet is controlled by and can be used as a weapon by the USG. I'd look into decentralized dns servers https://namecoin.info/
Asian Infrastructure Investment Bank story is extremely Bullish on Nuclear....remember Nuclear is forever, whom controls the nukes controls the future, bank on it.
Oh, lovely! Just what my grand-kids need!
I can just see it now: The vast beautiful country-side I take for granted up here will be transformed into the Death Star work site with a Truman Show movie set feel.
Shit. Hiking in the mountains will go the way of whale watching.
"Why did the man climb the mountain?" will become "Why do youth plunge to their deaths from radio towers into pools of toxic waste?"
Fucking ugly.
I was looking forward to building a windmill this summer. Chop! Chop!
What did the U.S. expect, after pissing off and screwing everyone on the planet, their own citizens included.
Financial crimes of generational significance in 2008, spying on everyone, waging war seemingly everywhere, fomenting a neo-Nazi coup in Russia's backyard, while shredding the U.S. Constitution after selling out production and career employment to China.
Based on what I've seen from Chinese infrastructure mal-investment, perhaps we should just sit back and watch this new AIIB go tits up after a few years. I wouldn't exactly call them experts on infrastructure loan underwriting.
You may want to do a little more research.
The inhabitants for the ghost cities were selected ten years ago.
A reverse Mao is about to be implemented, as planned back then.
A "reverse Mao"?
What's that? Unsmelting useless pig-iron back into usable iron ore? Or sending peasants to Ghost Cities after their farms are too polluted to produce rice?
Please enlighten me, Sir Winston. So far as I can tell, all these folks are coming to Jersey City, not Ghost City.
Is reverse mayonase a new condament?
Captain Willard: Based on what I've seen from Chinese infrastructure mal-investment, perhaps we should just sit back and watch this new AIIB go tits up after a few years. I wouldn't exactly call them experts on infrastructure loan underwriting.
I've been sitting back for the last two years and watching what countries have been buying every ounce of gold they can get their hands on.
Just sayin'
Every country has "mal investment in infrastructure" But gold is staying power.
Idiot NWO goobers shipped our jobs to our enemies to kick the can on their debt game, and now moan and groan that their power is declining?
FUCK THEM.
The final act of Bretton-Woods is upon us. But don't think for a minute it means the US dollar is going to just crash from here. The ride is bound to be a wild one.
I have a dream.
Once hyper-inflation sinks in, folks on the ground will flip a switch and reject counterfeit bills.
Everybody knows the dollars are being printed but they use them anyways. So, people decide to reject NEW bills which they identify by serial numbers.
Any man holding a NEW bill is putting a sign on his fore-head that says: I have got the NEWly printed money.
I checked for its membership, and did not find Russia, S. Africa, Brasil, Chile or a number of other countries in the list of Founding Members. Am surprised. Maybe Wiki is not up-to-date?
https://en.wikipedia.org/wiki/Asian_Infrastructure_Investment_Bank
"U.S. would be wise to adjust its foreign policy..."
The ability to make that decision ended at 8:46 a.m. ET on September 11, 2001. That is the day that the history books will acknowledge that the U.S. went "all in".
AND NOW the U.S. may consider re-evaluating U.S. - Israeli relations?? A little too late. This isn't the kind of thing that you can change a policy decision and get others back onside. You've destroyed all of your credibility and lost any moral high ground that others may have perceived you to occupy.
"You're with us or against us?" The world has spoken.
Man we were all in during the first gulf war, spoken and the whole nine yards, oh yeah, this time is different.
the thing is - a loss for the dollar, is a loss for the Fed, is a loss for the Fed's owners....
The rise of China, India, Russia, Brazil... represents not just a loss of US economic power, but the power of the clann that owns the fed and largely calls the shots in terms of foreign policy, media, etc.
This makes them more dangerous - not less.
I agree. The WH in all its infinite wisdom will get a million Americans killed before its over. Did you ever think he actually calls the shots. And, the charge will be led by a man who has probably never been in a fist fight. Bush, Wolfwitz, et al got thousands of good men killed or wounded and they have never been in a scuffle, including high school where they would have been outcasts. I'm fearful for the future.
This reminds me of high school..."if you talk to Megan I am so never speaking to you ever again".
I guess adult behavior with our major trading partners for the mutual benefit of all is out of the question. Ego first, rational though last.
India’s Gold Imports Explode In March
TND Guest Contributor: Dave Kranzler
http://thenewsdoctors.com/?p=356867
ZH has screamed USD is dead since its first post. As we all know - it is not simply true - USD is not dead. Not even close. But what can you expect from putin regime propaganda asset?
Learn facts about putin regime:
http://stopputinregime.wordpress.com
No one is going to click your stupid link here.
LOL. I down arrowed that, and it jumped from '3' to '10'...lol
A propaganda bot that's been a member for 4 weeks and 5 days knows exactly what ZH posted over five years ago?
Are you vermin? Putin cleaned house of vermin and that's why he's being targeted by the control system. Guess who operates the control system?
So you're saying its just a flesh wound ?
Yep ...just a flesh wound...
https://www.youtube.com/watch?feature=player_detailpage&v=2eMkth8FWno#t=209
You mean FRN not USD.
newstrolloutlet sounds butt hurt
"Zion paging Dr. Strangelove. Zion paging Dr. Strangelove. Dr. Strangelove, please pickup a red phone."
The banksters need to repay us.
Long cobalt thorium G.
It's hard for any country to be impressed with a dead-broke dictatorially-run thug outfit.
Offshoring American Technology, and manufacturing have completely gutted the American economy. China is no better than the United States, but they have a manufacturing base, and cheap labor.
Who is going to consume non-food items as the world becomes more robotized? Are Big Mac flippers going to become Big Mac machine repair tecnicians?
Is this what the meatballs running .gov meant when they banked on the United States becoming a "service economy"?
Yen, your's is one of few I pay attention to.
Listen.
5927099
come on guys
we can still win
we still have mad mental benny nuttyahoo from tel aviv.
we have the rabbi sayanim in position
we have the old nukes of ukrainia in world embassy position
like the 911 israelite
lets tora dance and saturn talmud vaporize
to the banging sounds of the
samson option
....I find it particularly funny how one can get booted off some supposedly reputable web sites for spewing what was considered "tin" only to see it all come to fruition 2 years later.
Gotta chuckle a bit...
It's all good.
;)
more headwinds caused by unfavorable weather? some folks got scammed
Just a shout out to Tyler and all ZHers.
We are fucking light years ahead of the curve thanks to this site,
Zbig? Wolf? BLOW ME!
welcome to the NWO...not what Bush the Elder had in mind methinks
Folks, the financial aspects are myopic. Broaden your scope. I've already posted this, expand your concsciousness.
Maslow.
https://www.youtube.com/watch?v=H7QlOTi86Nk
Aaand, PM prices go ... down.
Hopefully the removal of Harper is a condition for Canada's acceptance.
Even the opposition is controlled.
I have never seen such poor acting from politicians before in my life.
Dare I say that Justin Trudeau might actually be real human being.
@oddjob, he's his mother's son. he will do what the bankers tell him to do. i'm surprised you still believe.
Me too, there a zero good leaders to choose from, zion, zion, or zimbabwe.
If you "trust" the Chinese:
1. Serve pet food made in China to Fido.
2. Build your castle with Chinese drywall.
3. Build your bridges with Chinese steel.
The only thing I expect is China bank scandals to be really fucked up corrupt Ponzi schemes where perps get executed.
I am sure they can beat the UK for financial malfeasance.
What, more corrupt than the city of London's financial center, that will take some doing.
If China becomes another reserve currency, expect it to become more corrupt than the FED, or IMF, or SWIFT etc.
Interesting for sure...and a sign of change. But China is practically old news before it was ever new news. Makes me wonder the point of it all? A balancing of power maybe? An attempt to swap one dying empire for another globalist empire? Or just "some" news?
I mean how great can China get? They have their own big problems. They can't expand with their own army much as they need it to protect their internal system from the thousands of uprisings they continue to have each year.
No one seems able to expand. Centralization is dying from an evolutionary standpoint it appears. World orgs are more and more ineffectual...thank God. Humanity just may stand a chance after all. :-D
The Chinese policy of one child per family, with female infantcide for the last 30 years is showing up in China's demographic curve. This along with their corrupt burocracy and their future has its own set of long term problems.
Bullish inflatable women??
Maybe you prefer the bombing method of population control that the Empire has used extensively during the last 75 years?
"The US would be wise to adjust its foreign policy to reflect this new reality rather than desperately cling to the notion that world history is and always will be written by Washington."
It certainly would be most wise. The USA have written history more or less since 1850. That's less than two centuries.
Human civilization is way, way older than that. By some nine millenia, actually.
Somehow, they managed without 'Murikans.
Even the Colombian and Mexican drug cartels look more trusted than the US government.
Which countries do the neo-cons or neo-nazis in the State Department decide to bomb next?
So when will the China bubble burst? Besides, they are destroying their environment which is unsustainable.
Nothing new here & all predictable. As the USD get's unpegged will QE help w/ the hyperinflation or will the eventual crash become a reality as it's unsustainable in it's current azimuth etc. AS SDR's & SSDR's develop what will be the straw in America where the people say enough is enough ?
The STOOPID it continues to burn..