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This Is Why The US Just Lost Its Superpower Status According To Larry Summers
If Larry Summers were a country, he would have joined the Asian Infrastructure Investment Bank. With a backpedalling Washington now completely isolated in its opposition to the China-led venture and with support and enthusiasm running so high that even Beijing itself is apparently surprised, none other than “the hawk” that was almost, kind of considered for the chairmanship of the Fed is out with a sharp rebuke of the US stance calling March “the moment the United States lost its role as the underwriter of the global economic system.” Of course we’ve been persistent in our contention that the AIIB represents much more than an attempt on China’s part to provide an alternative source of infrastructure financing to fill the gaps left by the ADB, and as is made abundantly clear by the following, the “secret” is certainly out...
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Time US Leadership Woke Up To New Economic Era, by Larry Summers
This past month may be remembered as the moment the United States lost its role as the underwriter of the global economic system. True, there have been any number of periods of frustration for the US before, and times when American behaviour was hardly multilateralist, such as the 1971 Nixon shock, ending the convertibility of the dollar into gold. But I can think of no event since Bretton Woods comparable to the combination of China’s effort to establish a major new institution and the failure of the US to persuade dozens of its traditional allies, starting with Britain, to stay out of it.
This failure of strategy and tactics was a long time coming, and it should lead to a comprehensive review of the US approach to global economics. With China’s economic size rivalling America’s and emerging markets accounting for at least half of world output, the global economic architecture needs substantial adjustment. Political pressures from all sides in the US have rendered it increasingly dysfunctional.
Largely because of resistance from the right, the US stands alone in the world in failing to approve the International Monetary Fund governance reforms that Washington itself pushed for in 2009. By supplementing IMF resources, this change would have bolstered confidence in the global economy. More important, it would come closer to giving countries such as China and India a share of IMF votes commensurate with their new economic heft.
Meanwhile, pressures from the left have led to pervasive restrictions on infrastructure projects financed through existing development banks, which consequently have receded as funders, even as many developing countries now see infrastructure finance as their principle external funding need.
With US commitments unhonoured and US-backed policies blocking the kinds of finance other countries want to provide or receive through the existing institutions, the way was clear for China to establish the Asian Infrastructure Investment Bank. There is room for argument about the tactical approach that should have been taken once the initiative was put forward. But the larger question now is one of strategy. Here are three precepts that US leaders should keep in mind.
First, American leadership must have a bipartisan foundation at home, be free from gross hypocrisy and be restrained in the pursuit of self-interest. As long as one of our major parties is opposed to essentially all trade agreements, and the other is resistant to funding international organisations, the US will not be in a position to shape the global economic system.
Other countries are legitimately frustrated when US officials ask them to adjust their policies — then insist that American state regulators, independent agencies and far-reaching judicial actions are beyond their control. This is especially true when many foreign businesses assert that US actions raise real rule of law problems.
The legitimacy of US leadership depends on our resisting the temptation to abuse it in pursuit of parochial interest, even when that interest appears compelling. We cannot expect to maintain the dollar’s primary role in the international system if we are too aggressive about limiting its use in pursuit of particular security objectives.
Second, in global as well as domestic politics, the middle class counts the most. It sometimes seems that the prevailing global agenda combines elite concerns about matters such as intellectual property, investment protection and regulatory harmonisation with moral concerns about global poverty and posterity, while offering little to those in the middle. Approaches that do not serve the working class in industrial countries (and rising urban populations in developing ones) are unlikely to work out well in the long run.
Third, we may be headed into a world where capital is abundant and deflationary pressures are substantial. Demand could be in short supply for some time. In no big industrialised country do markets expect real interest rates to be much above zero in 2020 or inflation targets to be achieved. In the future, the priority must be promoting investment, not imposing austerity. The present system places the onus of adjustment on “borrowing” countries. The world now requires a symmetric system, with pressure also placed on “surplus” countries.
These precepts are just a beginning, and many questions remain. There are questions about global public goods, about acting with the speed and clarity that the current era requires, about co-operation between governmental and non-governmental actors, and much more. What is crucial is that the events of the past month will be seen by future historians not as the end of an era, but as a salutary wake up call.
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Another Jew telling the Goyim how it is.
how could you tell? lulz
The acceleration of the lipstick being slapped on the biggest pigs continues.
What would we ever have done without the fine work of Larry, Alan, and the various hedge fund managers who are now sounding alarm bells?
I snorted coffee out my nose when I read Larry's..."...largely because of reisitance from the right".
What a shame that one of the most arogant talking heads on the enonomy would put out such a statement. This is the man who shoved Volker out of the White House door telling him to go feed the pigeons. This is the man who believes if you are not ont he inside you are little people. This is the man who has given wrong advice to Obama for years, and now comes forth with such a back stabbing proclamation to not only Obama but the American people.
How magnanimous to suggest that the middle class matters when he did more then his share to destroy it.
But we must remember, he has a voice that reached the media where the best we can do is sit here on ZH and bitch.
OMG how am I going to BTFD today, I can't get to CNBC.com
How those derivatives working out Larry?
If the USA wasn't what it was, it would be sanctioned by the rest of the world and still may be for being a "terrorist" organization. The evidence is there, the WMD's, the fact they used them, the CIA tortures which Obama admitted to, human rights abuses, invading innocent countries.
My first paragraph is true.
Tell me, what is the difference between the crimes I listed above and what the other evil countries have spawned? Because they have a middle class and people can say "fuck" in a blog or see people having wierd sex on line or on TV? The invaded countries had a middle class too until Uncle Sam bombed them to introduce democracy.
Demonocracy is more like what Uncle Sam delivers.
A typical Larry Summers' speech:
https://www.youtube.com/watch?v=PSKQ3ZNQ_O8
Wait, not approving IMF reforms did this? I thought this was analogous to the World Bank. Ugh. It so confusing.
And then this line:
You couldn't be any more full shit. What he's calling for is for US foreign policy to be completely divorced of domestic politics. Meaning there needs to be a government that doles out goodies to its political patrons and then a government that does so on an international level without any interference. It's the dream really. Be thoroughly unaccountable
What he's calling for is for US foreign policy to be completely divorced of domestic politics.
That has already been done.
There is no coherent Foreign Policy. It is neither consistent nor rational.
Foreign Policy to a large degree is restricted to the Executive Branch's State Department.
With Victoria Nuland saying "Fuck the EU", with the sanctions on Russia, with the warmongering in the ME, and with using the SWIFT System as a Bully's Club, the World has gotten tired of the USA behaving in a reckless, psychotic, and destructive manner.
The USA is absolutely PSYCHOTIC when it addresses Foreign Policy. There is NO DIRECTION. It is a RUDDERLESS SHIP. There is no leadership.
The following is a great example...
Let's see if I have got this right...
We create ISIS to overthrow Libya and Syria.
Then we team up with Iran to fight ISIS and protect Iraq. pissing off Saudi Arabia in the process as we ALSO did not take out Syria as promised.
Then we are helping Saudi Arabia launch an aggressive war against Yemen who just happens to be backed by Iran, who we are trying to be pals with???
Whose side are we on? Is there any rationale to this?
Did Congress vote on ANY OF THIS?
Or was the craziness launched by a White House Executive Branch, by Executive Order, an executive who happens to be hellbent on creating a war at any price?
We plan to go to war against Russia while, at the same time, we make a Quarter Trillion Dollar deal, to build another International Space Station to replace the current one? Because..We are sanctioning them and want to cut off their money???
Horseman has not got a clue, is not just a psychopath butis PSYCHOTIC in his Neocon Skull and Bones megalomaniacal dreams of World Domination, and the Bitch from Hell who is Demonically possesed, who preceded him, really did a number on us.
Nothing makes sense as that crazy fag in the White House is also psychotic. There is no reasoning with somebody whois absolutely detached from reality.
US Foreign Policy is ALREADY DIVORCED from domestic politics.
You are CRAZY to believe otherwise.
This just happens to be the result.
You are Right US Strong Central Government is doing all kinds of things overseas that 99% of the US Population knows nothing about.
US Foreign Policy is fragmented and Opaque and originates from 1945.
There is a hidden cartel operating US Foreign Policy. I'm sure Obama and his family have no idea what is going on. Their CIA Handlers give them enough to make them afraid and to keep everything moving.
But I don't see Obama or Congress doing anything other than helping those that Out Source Jobs and those that are wealthy enough to have Money off shore form durable Trust Funds and maybe Insurance Policies that protect them from Taxes.
I would think Black people would Disown Obama for his lack of developing the USA.
Tell me again how psychotic the US is.
There's nothing psychotic about it. They do what they want because they think they can. It's that simple.
From the fatty that pushed to repeal Glass-Steagall and opposed derivative regulation. As president of Harvard lost $2B due to his saavy in investing. Worthless wart.
You didn't make that wart.
Translation:
This time we never saw it coming for a long, long time (sigh, one day, one day we will. Even a blind squirrel….etc. etc.). That’s why we need to look back and figure out why we didn’t see it coming while the next big thing is coming. Because, when you don’t see something coming there is nothing worse than not having a defensible explanation for why you didn’t see it, and a model for the future which no one can possibly agree to implement, so that you can use that as an excuse the next time you don’t see the next big thing coming.
Nice try trying to hang this on the "right," Larry. I'm sorry Uncle Sugar still tolerates some rudimentary opposition to the banksters. Face it---the only reform to the IMF that would do much good is shutting the place down and giving its bosses a big steaming cup of molten lead, as was done to counterfeiters in simpler, more sensible times.
If something is not worth doing, it is not worth doing well.
Other countries are legitimately frustrated when US officials ask them to adjust their policies — then insist that American state regulators, independent agencies and far-reaching judicial actions are beyond their control. This is especially true when many foreign businesses assert that US actions raise real rule of law problems.
When have any of the assholes involved in these issues on behalf of the USA given a shit about the law . . . .international or otherwise???
When a Wall Street bank gives money to a backwater shithole that some Western-installed warlord skimmed off the top of one of these "development projects", they want US bankruptcy laws to apply. Not wait in line behind the gaggle of people promised money by local criminal fiefdom. That's when they give a shit about the law.
He probably dislocated his elbow patting himself on the back for success of his own role??
So basicly, Larry Summers took a giant crap in his own pants, posted pictures of it on the internet, then demanded to know how and why did this horrible crime was committed. Thanks Larry.
We pope'd some folks.
THE LARRY SUMMERS ? THE MAN HAS A LOT OF GAUL.
Well you know, if the US was actually a democracy intstead of a democrazy, and actually was interested in helping out the regular people(can't use the word folk anymore, fuckhead ruined that) and it was shown in their actions, instead of such things as NSA, NAFTA, etc..............perhaps more of us in the US would actually give a goddamn fuck about our status. And unfort this will just be even more of an excuse for them to turn inward on us as they are being driven out everywhere else.
Larry Summers is the poster child for the khazar kocksuckers that have wrecked not only America, but most of the world. Two shots and a splash is too good of an ending for this scum.
That's a harsh indictment.
We are far past the time for niceties.
THe US and Europe print money, China and Russia buy gold. Enough said.
Pure pedantic blather. He mourns that the US might cease to be the lender of last resort. He cannot fathom peak debt, peak investment and a cyclical period of unwinding of overcapacity. In his Keynesian pea brain, the answer to everything is to have ever more people across the globe in hock to the big US banks.
Yep, yep and yep!
And I had absolutely nothing to do with it's collapse starting with the demolition of Glass Steagall...
-Larry "fuckface" Summers
This fuck is the H in Hypocrite.
Once the hated goyim finally do themselves in, what a wonderful world it will be,....... a planetary shtetl just for us !
Watch for the fed cronies secretly undermine and/or create a false flag financial crisis in the coming months, causing the collapse of the Chinese Yuan, making the newly signed up AIIB member countries run back to the mighty dollar.
What happened Easter Sunday? Was Larry Summers reborn as Ron Paul?
Orthodox Easter is next Sunday. Will Greece use the holiday to bring out the new Drachma? Probably not, but it would be nice.
Arse covering words so he can source from it in the years ahead and 'claim' to be a visionary
True. That's how it goes. They all have to go on record, warning us about what they already caused to happen.
This schmuck is at the top of the guillotine list. What a hypocritical ass. Listening to him is part of the reason we find ourselves where we are.
I would pay for ringside seats to put 'the brilent Larry Summers' with Gerald Celenti in the octogon,Summers looks like a big sewer rat and Celenti would kill it!
>>Largely because of resistance from the right
sorry but i stopped reading right there. another partisan hack playing the red/blue phantom divide. next...
Yet another blowhard in the long line of Harvard blowhards.
Larry, you are right about one thing, women belong barefoot and in the kitchen. Women need to be in sciences and engineering positions about as much as the world needs asshole Harvard scientists and engineers to fuck up the planet.
yet another neanderthal....
Unacceptable.
America won't stand for the Chinese to swindle resources that America has a right to swindle by financialization.`
This means WAR!
Dirt bag LS, you're one of the reasons. don't forget. pos.
This nut case is a whiny Globalist. To Hell with our so-called Global status. American became THE economic power of the world because IT WAS the economic power of the world. Point being- unmatched US Manufactor production by best labor force in the world. We need a President, with huevoes, telling Federal Reserve to use its credit creating power, through an Executive Order if he as to, for Infrastructure and other job creating programs right here at home.
Fail. We don't need no Rothchild owned Fed to bleed us out. The Fed is the major instrument that got us here.
L.S. is, no doubt, an a**hole.
But he has laid it out quite clearly.
He is not, of course, the first to do so.
It's more of a M. Albright thing.
Whores of a feather, flock together.
I make over 7k every 60 seconds! I will not give you the link to learn more about this because you are probably a jerk and why would I help you make money?
I know this girl who was out of work and broke, and now she makes $8500 a month turning tricks. Find out more at www.scamsite.com.
I prefer the scrubbed streets .... of Denmark .... and Japan .... to the open sewers .... of Nigeria .... Lagos, Lagos .... the people shit in the streets .... Mumbai, Mumbai .... the people shit by the railway tracks .... Mexico, Mexico .... the people shit in a hole in the ground .... Raqqa, Raqqa .... the people shit blood ! (Sung to the tune of New Yawk, New Yawk) .... get to work China Chumps !
I suppose we can set up the gallows in Copenhagen, if that'll make you happy...
I like the fact that I have 2 options when it comes to water - Hot and Cold, and in both cases, clean.
The fact that this is not available in many of the places you list is less to do with the people who live there and more to do with those who have, in the past, fucked over those who live in the aforementioned places and are, in the present, continuing to do so.
If you were forced to try to survive under such circumstances I think it would wipe the smug smirk off your face.
my fear (as an american) is that in the near future this is the catalyst for the "a-ha!" moment where the rest of the world asks itself: "ok, so the chinese make the widgets, the indians supply skilled white collar labor & the middle east/russians provide hydrocarbons for energy/plastics - exactly WHAT are the ameriocans bringing to our global pot luck besides bad debt?" THAT is going to be a bad day - when our suppliers google "sunk cost" as we're promising to pay for today's hamburger next tuesday...
Elon Musk? Millie Cirus? Motorized shopping carts for lardos? Depleted uranium? GeoEngineered drought? Guantanamo anal feedings?
What am I leaving out?
Of course, he leaves out the part about this all being according to plan: Destroy America, eradicate the idea of the Rule of Law trumping the Rule of Man - the ideological basis for our founding documents - and roll out the neofeudal NWO, with psychopathic bankster parasite families running the whole world and everyone in it.
But that's a minor, minor detail, now isn't it? Nothing to see here people; move along...
The sooner USSA loses its superpower status the better for everyone! Only the psychopats would not agree with that statement. Multi-polar world and true competition in all key international aspects is the only way forward - the USSA may still be a key player, but they need to share and cooperate with the others like China, Russia and other key players. The sooner they realize this the better, but I'm afraid some of the psychopats following the Wolfowitz doctrine to the letter may as well pull shit that brings everyone down unless they don't remain the sole superpower and that is one scary thought. In fact seeing as how things are unravelling before our eyes it's not that difficult to imagine that when the shit does hit the fan (there is no question as to whether it will happen or not, it's just a matter of time) that a very 'major event' will be required to 'compensate' for the criminal ponzi street casino that has been running for quite a while now.
I met the man from GLAD .... years ago in a Laguna Beach beer bar .... I now want to meet .... the man from MAL .... (Muslim/African/Latin infrastructure deficient shit holes soon to be helped by China) !
After the revolution, I'd like to offer a line of one-off bronze statues of these clowns, created by the lost wax process.
For Larry, that's gonna take a lot of lost wax.
Economists should not be allowed to run the economy, let alone foreign policy.
Summers fails to grasp that American belligerence and warmongering set the stage for nations outside the waahington-london-jerusalem axis of evil to desire to establish and promulgate economic, military, and even scientific arrangements outside that nexus of fiat central banking, warmongering, and neofascist hegemony.
The legitimacy of US leadership depends on our resisting the temptation to abuse it in pursuit of parochial interest, even when that interest appears compelling. We cannot expect to maintain the dollar’s primary role in the international system if we are too aggressive about limiting its use in pursuit of particular security objectives.
Any Medium of Exchange (MOE) is illegitimate to the extent that it serves any purpose outside of facilitating simple barter trade over time and space. To the extent that it attempts to become an object of coercion, it is inferior to all properly managed MOEs.
When the MOE is properly managed it guarantees free creation (as money) through certification of traders' "promises to complete trades"; it observes the relation INFLATION=DEFAULT - INTEREST =zero; it guarantees supply and demand for the money to be in prefect balance; and it exhibits these traits all the time and everywhere.
It is impossible to use a "properly managed" MOE as an object of coercion.
+42
So, that's currency covered.
Any ideas on money?
;-)
So, that's currency covered.
Any ideas on money?
In a properly managed MOE, currency "is" money and vice versa. All stand for "a promise to complete a trade"; are created by traders; and are extinguished when delivery is made or DEFAULT is mitigated by like INTEREST collection ... guaranteeing INFLATION = DEFAULT - INTEREST = 0.
Guys like Larry are THE REASON the US is going down the tubes.
With a little luck and a lot of purging, this asshole and his family will spend some quality time at the bottom of an ocean someday
Larry was a principal adviser to post Soviet Russia and concocted all the industry oligarchs there.
Now they are bringing those same collectivist tropes to Amerika too.
The Chinese cannot believe the utter lazy stupidity of how and why Amerika is giving away its power and prestige.
This new bank is more about enabling deeper penetration of Chinese (non-War) interested across Africa than anything else.
It's the Spirit of Bandung, only now with something called Capital.
One of these days.
You will wake up in the morning.
To an announcement.
That China has more gold than Amerika.
That US trading partners (like Wal-mart) must settle all accounts in yuan in stead of dollars.
And that the AIIB will be underwriting development inside the US.
Maybe a water infrastructure project in California.
This is what happens when elites go war-crazy for a over a decade.
This is how US State budgets get underwritten in a foreign currency.
"One of these days ... You will wake up in the morning ... To an announcement ... That China has more gold than Amerika."
"One of these days" is in the future tense.
We don't really know how much gold the Chinese have. Probably more than they admit to having. And we also don't know if the US has any gold at all. Except perhaps the Iraqi, Libyan, and Ukrainian gold the US stole during its rape and destruction of those countries.
Sold that stolen gold already to supress the price and prop up the corpse of the dollar.
Christ - who even takes this guy seriously? you know he is a wanker Tyler
He's one of the wankers that makes the rules.
That makes a big difference.
First, American leadership must have a bipartisan foundation at home, be free from gross hypocrisy and be restrained in the pursuit of self-interest.
ROFL!
I am glad that I watched “The Century of Self” and then read “Propaganda” by Edward L. Bernays – reading between the lines I'd say that the insiders (recall LS alleged advice to Elizabeth Warren about being an insider: http://billmoyers.com/2014/09/05/i-had-been-warned/ ) are not happy campers.
Awww, would someone please hand LS a shovel for his BS.
That's unfair to Turbo Tax.
A few hours after the Japanese tsunami hit, before dawn in the US, Summers was already on live from his cave on CNBC talking about the economic opportunities of the crisis, and how investors in Japanese stocks should even be jazzed about the whole thing. This was before any of the other talking heads even woke up.
It was one of those things that happens as you're waking up and is so surreal you have to remind yourself you didn't dream it.
It's frankly amazing that people like Summers haven't been murdered in public yet.
* hi thur LARRY, hope you're reading...yeah, someone did notice that dirty shit *
The quintessential psychopath.
Y'all expected what with a dumb black muslim in white house
You forgot that bill "Cigar Boy" clinton made him Secretary of the Treasury.
Oddly, clinton was impeached for a blowjob, and not for putting this dick in charge of the treasury. Go figure.
Someone deleted the last paragraph of larry's article. It's the one that said:
"I'm really, really, really, really sorry for fucking up the country the way I did, and I hope you'll let me lay off the blame on someone else.
Yeah and I think I found proof that the war propaganda machine has been turned on. It is a very well made video. Not youtube, but looks like part of youtube. I've never seen a video address like this.
Anyway it is about an 11 year old standing on Normandy Beach holding a flag on a home made flag pole while saluting toward the ocean where Americans and Allies Died. But the whole thing is a production of high quality and the boy has a complete uniform with combat boots.
http://swf.tubechop.com/tubechop.swf?vurl=8k9Si28k0Fk&start=0&end=438.55...
I should search snoopes I guess.
Larry Summers and Robert Rubin are big time Criminals like Phil Gramm.
But we have many people that have ruined the US Reputation for fairness, Justice, International Cooperation, a Beacon of Light, a safe Financial Market, Free Markets and Great Business and Civil Court Environment... all gone with the take over of our Federal Government.
I just come here to read the comments
Last I checked, the AIIB was still based on fiat. So just another device to blow bubbles while stealing actual wealth from the rubes. The Fed steals from a lot of people, the ECB steals from others, the Russian CB steals mostly from Russkies, and now the AIIB is around to vacuum up wealth from anyone the others missed.
Lets be civil guys.... Sounds like Summers and Bernanke are coming to their senses Lets cheer them on...
Lots of Nazis "came to their senses" at Nuremburg, but they still went to the gallows...
Except those that the US wanted to exploit.
Gather round while I sing you of Wernher von Braun,
A man whose allegiance
Is ruled by expedience.
Call him a Nazi, he won't even frown.
"Ha, Nazi Schmazi," says Wernher von Braun.
Don't say that he's hypocritical,
Say rather that he's apolitical.
"Once the rockets are up, who cares where they come down?
That's not my department," says Wernher von Braun.
Some have harsh words for this man of renown,
But some think our attitude
Should be one of gratitude,
Like the widows and cripples in old London town
Who owe their large pensions to Wernher von Braun.
You too may be a big hero,
Once you've learned to count backwards to zero.
"In German oder English I know how to count down,
Und I'm learning Chinese," says Wernher von Braun.
Larry will have no problem sucking off a Chinese tit.
Some guy has a twitter campaign to get money out of politics. I think they stamp paper money with a message to not bribe politicians. but maybe there are more stamps.
Larry Summers and Robert Rubin are great examples of money's influence on politics.
https://twitter.com/StampStampede
Shit-in-a-can, two for a dollar.
Aside from Greenspan, and Rubin, Larry 'Samuelson' Summers is a key architect of the demise of the USA banking industry, and Wall Street. Furthermore, Rag Rajan actually warned the little Harvard simpleton that banks were overexposed to systemic risk _before_ the whole system imploded, and Larry, Curley, and Moe, sanctioned him for being a 'Ludditte' instead of an American STOOGE like they were. Today, Rag Rajan is highly respected throughout the World and Larry 'Summers' is anathema in comparison.
NOTE: The Committee to DESTROY the World actually did it, USA. American Exceptionalism is really exceptional, Larry.
Yeah he has no moral authority left.
In fact we should find a way to censure(censor) from the press people like Larry Summers and Robert Rubin and Dick Cheney and Cheney's Daughter since she is riding his coattails and following his Evil Politics.
Summers and his Harvard buddies managed to do a number not only on the USSA . but on Russia after the Soviet Union collapsed... Harvard's HIID and IMF managed to wipe out the savings of the Russian people overnight . thanks to BAD advice.. these ass clowns had NO history of Russia . nor die they understand their actions would promote the growth of the oligarchs and Russian mafia as it did . anyway .. best article about Summers and his crew was in testimony of Anne Williamson before Congress in 1999 .. worth a read... http://thebirdman.org/Index/Others/Others-Doc-Economics&Finance/+Doc-Eco... . a paragraph that gives some analysis on this ... '''''The first mistake was the West’s perception of the elected Russian president, Boris Yeltsin; where American triumphalists saw a great democrat determined to destroy the Communist system for freedom’s sake, Soviet history will record a usurper. A usurper’s first task is to transform a thin layer of the self-interested rabble into a constituency. Western assistance, IMF lending and the targeted division of national assets are what provided Boris Yeltsin the initial wherewithal to purchase his constituency of ex-Komsomol [Communist Youth League] bank chiefs, who were given the freedom and the mechanisms to plunder their own country in tandem with a resurgent and more economically competent criminal class. The new elite learned everything about the confiscation of wealth, but nothing about its creation. Worse yet, this new elite thrives in the conditions of chaos and eschews the very stability for which the United States so fervently hopes knowing full well, as they do, that stability will severely hamper their ability to obtain outrageous profits. Consequently, Yeltsin’s "reform" government was and is doomed to sustain this parasitic political base composed of the banking oligarchy.''''''''''
Get real. They did not 'make a mistake' in giving the Russians 'bad advice'. This was a shakedown planned from the outset. They knew exactly what they were doing. Follow the money my friend. Larry and the Tribesmen ended up with it all.
http://multinationalmonitor.org/mm2002/02jan-feb/jan-feb02interviewklebn...
http://original.antiwar.com/justin/2007/04/25/the-legacy-of-boris-yeltsin/
It is antisemitic to describe this looting, which overwhelmingly benefited Jewish individuals [Jews were less than 3% of the population, maybe less by Yeltsin] as primarily led by Jews, including western economists like Jeff Sachs
http://www.softpanorama.org/Skeptics/Pseudoscience/harvard_mafia.shtml
Larry Summers, Stan "triple citizenship" Fischer
http://isteve.blogspot.com/2014/01/stanley-fischers-role-in-piratizing.html
as being led by Jews within and outside of Russia.
Of course, to deny that this was the case would be to be dishonest.
The conclusion is that the truth - is antisemitic.
https://en.wikipedia.org/wiki/Boris_Berezovsky_%28businessman%29
http://en.wikipedia.org/wiki/Mikhail_Khodorkovsky
http://news.bbc.co.uk/2/hi/europe/1295963.stm
http://www.hks.harvard.edu/about/faculty-staff-directory/lawrence-summers
well at least tens of billions of dollars bought Israel's loyalty to the U$.
http://www.timesofisrael.com/israel-joins-china-based-asian-investment-bank/
Oh, no... I guess it didn't.
Well at least tens of billions of dollars bought Israel all the Senators and Congress Critters it could wish for.
Say wot? Anyway, so LS says we should be competing to lend people money, with that outlook? WTF is he even babbling about? We want to extend a bunch of 3% loans now, so when rates go negative worldwide we'll show a big profit, even if there's no longer any chance of them actually getting paid back? Pure genius!
This lame asslick is still blaming Bush? After 6 horrific years of Chakka Caca Obongo? Why didn't his Bath House partner just do another illegal Executive Order on the IMF question? I bet he thinks Hilly-Roid is a beauty queen that farts orange blossoms.
You have to be shitting us.
You don't really think Bush (the younger), Obama, or Hitlery (should she be appointed), Jeb (should he be appointed) really have any say in what goes on, do you?
HillBillary are just Bonny & Clyde of the political world.
Puppets, one and all.
H W B is a whole different ball game, I suspect.
If you vote, you are complicit in the crimes of government.
BASTARDIZED!!!
What the hell do you expect when you morons have bastardized the world currency for your own use. People are finally waking up and realize that when you control a currency you control the people.
Never ending wars will also destroy the confidence of countries for you to be considered a sane leader. It is time for the USA to lose their ability to finance wars with unlimited printing of the world currency.
Perhaps they should be sanctioned.
Yes, Larry Summers is indeed a blowhard and a worthless wart. He is also correct in his above observations.
Looking at the source is not the overriding factor in evaluating information. Case in point.
This AIIB is a big deal development as a break away from US financial hegemony and it's about time. He is right here, as much as I hate to say it.
"He is right here, as much as I hate to say it."
LOL...so fucking what? That's like a serial killer saying yeah, I shouldn't have killed all those innocent people. He's right, too! We don't need Larry fucking Summers to tell us what we already know...
+100
Larry's the type that joins in with the chorus of far right wing neo-cons like John Nazi McCain and the boneheads in The State Department like Wench Nuland in order to waste tens of billions of Dollars to sponsor neo nazis in Ukraine instead of helping out Detroit.Nothing like helping your own first Obuma.
China was brainwashed and led to believe investing in resources is all it needs to secure its interest in the world bossed by Washington. So China dropped trillions in Africa to secure mines, farm land, and more importantly oil fields. And Beijing didn't know all those paper agreements can be easily voided by coups and regime changes. It lost majority of its investment as a result of what have been happening in Africa. Then you have infinite QE after the 2008 meltdown, which has caused lots of beef in the world. Especially China was forced to protect its future international resource investment by bundling with other major nations' financial interests. So who is to blame?
Surplus countries?
Larry Summers.. let me count the ways this guy is an evil bastard... one of the worst is what he and his Harvard buddies indid in Russia after the collapse of the fomer Soviet Union ... by Paul Likoudis... .. for those who need an introduction to the international financial
buccaneers who control our lives, was the general director of the Harvard
Institute of International Development (HIID) in Moscow (1992-1997), who
facilitated the crippling of the Russian economy and the plundering of its
industrial and manufacturing infrastructure with a strategy concocted by
Larry Summers, Andre Schliefer (HIID’s Cambridge-based manager), Jeffrey
Sachs and his Swedish sidekick Anders Aslund, and a host of private players
from banks and investment houses in Boston and New York — a plan approved and
assisted by the U.S. Department of the Treasury. https://paullikoudis.wordpress.com/2011/03/24/the-plunder-of-russia-in-t...
Larry Summers.. let me count the ways this guy is an evil bastard... one of the worst is what he and his Harvard buddies indid in Russia after the collapse of the fomer Soviet Union ... by Paul Likoudis... .. for those who need an introduction to the international financial
buccaneers who control our lives, was the general director of the Harvard
Institute of International Development (HIID) in Moscow (1992-1997), who
facilitated the crippling of the Russian economy and the plundering of its
industrial and manufacturing infrastructure with a strategy concocted by
Larry Summers, Andre Schliefer (HIID’s Cambridge-based manager), Jeffrey
Sachs and his Swedish sidekick Anders Aslund, and a host of private players
from banks and investment houses in Boston and New York — a plan approved and
assisted by the U.S. Department of the Treasury. https://paullikoudis.wordpress.com/2011/03/24/the-plunder-of-russia-in-t...
Oh YES, THIS FROM THE SAME FUCKING DICK HEAD THAT BOASTED WHEN HE BRIBED HIS WAY INTO TEARING DOWN GLASS STEAGALL..WHICH IS ONE OF THE PRIMAARY RESONS THAT THE U.S IS WHERE ITS CURRENTLY AT
Seriously, Larry I truly hope that you read this you fucking ass wipe..you "lecture" at Harvard explaining to folks how smart you are, annd all of the connections that you have, but guess wht? when it comes time for your dirt nap, you WILL be held accountable for your actions that have destroyed hundreds of thousands of people's lives, yes Larry, you will pay for these transgressions, when it comes tome for your dirt nap, all of your money, fame, and connections, aren't going to save you, do you truly understand that?
I truly pity you
If Larry Summers were a country it would make Venezuela look like Palm Springs. Next to "tax cheat" Timmy, this asshat was one of the worst Treasury Secs the U.S. of Detroit has ever seen. Why the fuck would anybody listen to the Al Sharpton of finance?
www.traderzoo.mobi
This is one of the ways US would destroy putin regime army aggresion in Europe
http://youtu.be/77gTSr07Jqs
After taking control over sky putin regime terrorist army would be crashed.
Latvian insanitation can be such a tragic phenomenum.
A psychopath trying to tell his fellow psychopaths how to still successfully subjugate Chinese (and Russian) influence.
And this line is the interspersed joke to loosen up the audience:
American leadership must [...] be free from gross hypocrisy
Looks like the chickens are in the fucking DRIVEWAY, eh, Larry? FUCK YOU, you cocksucker...
Larry Summers? THE Larry Summers that called Snowden a traitor? The leading lobbyist for the repeal of Glass-Steagal? The guy who tried to triple the IMF's drawing rights from the United States in the Clinton administration?
Larry Summers, who called for a boycott of the American Studies Association (ASA) because they don't agree with Israels policies?
Larry Summers who declared the 2008 bailout was "just the start"...That Larry POS Summers?
It's Larry The Looter and his fellow Tribesmen who are reducing America to Third World status. Turning it into a brown country through mass Third World immigration, foisting on it the globalization and transnationalism which have destroyed American manufacturing, building up an unsustainable debt Ponzi through their control of the Fed, costing trillions in treasure and blood through inveigling the country into fighting Israel's wars, undermining everything that used to be good about America......academia, courts, the middle class, entertainment.
I could go on. But will confine myself to a heartfelt f*ck you Larry, you fat, repulsive parasite.
We need Phil Gramm to pop up and tell Summers to quit his whining, because everything is great.
Why the fuck is anybody listening to Summers. There are about 3 or 4 bricks of the American economy and Middle Class still left. I guess he wants to finish them off with more Trade Agreements and the "existing development banks" free to spread their poison and stuff their pockets once again. Why should Foreign businesses want to come to the US, as it becomes the Third World Banana Republic, they are trying to get out of.
Few people helped as much to put the Amerikan Oligarchy in charge.
He fished his wishes, now he can sit back and watch the splendor unfold of all that his Belief System has wrought.
Hail Milton Freidman, Hail Leo Strauss.
Hey Summers et al.,
Blame YOURSELVES for deceiving the people by keeping them ignorant of these very instructive histories!
http://www.showrealhist.com/yTRIAL.html
http://patrick.net/?p=1223928
putin regime repression expands against Tatars in occupied Crimea:
Russian Occupiers Close 11 of 12 Crimean Tatar Media Outlets and 2,700 of 3,000 OthersStaunton, April 6 — Of the slightly more 3,000 media outlets in Crimea before the Anschluss, the Russian occupation authorities have reregistered and therefore allowed to continue to operate only 232. Hardest hit have been those in Crimean Tatar, there, the Russian officials have closed 11 out of 12.
Of the 232 with official permission to operate, the Russian government says, eight are Internet portals, 19 are TV channels, 42 are radio channels, 163 are print outlets and information agencies. Two hundred and seven had been registered by Ukrainian officials before the Anschluss, and 25 are Russian outlets which have moved in since that time.
In reporting this in today’s Novyye Izvestiya, Yekaterina Dyatlovskaya notes that rights activists have already labelled these closures as “the de facto destruction of independent Crimean media” and a return to a Bolshevik approach to dealing with opposition news outlets.
The Committee for the Support of Independent Crimean Tatar Media issued a public appeal to Russian society calling on it to “do everything possible for the support of independent media.” Mikhail Fedotov, head of the Russian Human Rights Council, has appealed to Russian government offices to allow more outlets in Crimea to operate.
But Nikolay Svanidze, head of the Council’s working group on this issue, says that “at present, we cannot do anything more,” except to follow developments, adding that he doesn’t expect a favorable change given the comments Vladimir Putin’s press secretary Dmitry Peskov has made.
Moreover, senior Russian officials are digging in on this point. Foreign Minister Sergey Lavrov has declared that “no problems will arise with media registration” in Crimea as long as applicants follow Russian law, and Crimean head Sergei Aksyonov says that alternatives to Crimean Tatar ATR television will be created.
Svanidze says that “unfortunately, there are very serious problems in Crimea, especially with Crimean Tatar media. To a certain extent, they reflect the status of media as a whole throughout the country, but in Crimean the situation is still harsher.” Creating officially controlled media doesn’t serve anyone’s purposes, he says, “except” those of the authorities.
And Aleksey Simonov, president of the Glasnost Defense Foundation, adds that “the problem with freedom of speech in Crimea is absolutely the same as in the entire country” and recalls what happened after the Bolsheviks took power. Lenin’s party closed all the newspapers according to the principle “he who is not with us is against us.”
http://www.interpretermag.com/russian-occupiers-close-11-of-12-crimean-t...
I dare say the people of free Crimea have every right to put the House of Saud and the CIA on notice to stop emptying Islamist propaganda into Crimeans' ears and have their media report actual news free from bankster and Islamist interference.
Unlike in Bolshevik times, any Tatars who have a problem with that are free to leave Crimea at any time.
Ukraine, Allahu akbar.
White slavery was the major business occupation of Crimean Tartars. Figures Larry the Looter and friends would get along well.
https://consortiumnews.com/2015/03/22/crimeans-keep-saying-no-to-ukraine/
Amnesty International and Human Rights Watch each found human rights and law of war violations on both sides, but it doesn't add up to Nuland's claimed "reign of terror." Perhaps the greatest terror has been the shelling and use by both sides of cluster bombs and unguided rockets on civilians. But now a truce is holding in the Donbass war zone. And in Crimea, though a clampdown on the Tatar minority and journalism has occurred, respected polling organizations have found wide support for that region being part of Russia. After the coup, Russia prevented the new government from taking power in Crimea, where ethnic Russians are the majority. And after a vote by the Crimean parliament for annexation to Russia, a referendum was held on the same question. The referendum passed with 96% and the annexation proceeded. Gallup found that 83% of all Crimeans, and 68% of ethnic Ukrainian Crimeans, thought the referendum legitimate. The German polling firm GfK asked the question, "Do you endorse Russia's annexation of Crimea?" and got 93% "yes" answers.
- http://theparagraph.com/2015/04/ukraine-crisis-facts-bring-discord-to-u-...
xxxooo
In other news, a dumpster fire was spotted by the arsonist who started it.
The Academic Mafia
http://www.softpanorama.org/Skeptics/Pseudoscience/harvard_mafia.shtml
so far china issues credit in USD
US will lose its power when china starts issuing credit in yuan
Not for reading on a full stomach. He's not exactly preaching to the choir here.
Bla, Bla, Bla. Get a life you dick.
Easy to write AFTER you were turned down for the top job at the FED...
Was Larry the one who recommended having the Saudis bomb that Russian consulate?
I hope the Saudis keep fucking with Ivan. A couple Russian subs parked off Salafist Arabia's right coast could do wonders for the price of oil.
Propaganda!
putin regime attack on Russian citizen freedom & rights:
Putin Eliminating Rights of Russians ‘Step by Step,’ New Report Shows
Staunton, April 5 — A new study by a group of Moscow activists on the state of freedom of assembly in Russia concludes that Vladimir Putin has been first limiting and then eliminating that right as well as others in his drive to prevent the citizens of his country from being able to express themselves on the most important issues of the day.
The report, entitled “Freedom of Assembly in Russia. Anti-Constitutional Norms and Illegal Application of the Law,” was prepared by the December 12 Roundtable group and released last week in Moscow.
Its conclusions, which are discussed by Sergey Sharov-Delone in Yezhednevny Zhurnal, are devastating not only about the specific issue it addressed but, as the Moscow commentator makes clear, about the more general state of freedom or rather lack of freedom in Putin’s Russia.
Sharov-Delone notes that gradually but implacably the Russian state is reducing the ability of Russian citizens to express their views: “Parliament is not a place for discussion; media freedom has been overwhelmed by propaganda;” and public demonstrations have been reduced to a minimum and are subject to increasing harassment.
Ever more often Russian laws depart from the Russian constitution and its assertion that Russia is subject to the international agreements it has signed, the Moscow commentator says; and ever more often Russian officials apply what laws that do exist in ways that further compromise these rights.
The new report underscores that fact: its main conclusion is that “the repressive character of the changes of legislation connected with the realization of the citizens’ right to free assembly and the ever more illegal actions of the authority are beyond doubt directed at the suppression of civic and political activity.”
Indeed, in Sharov-Delone’s words, the situation is such that it is taking Russia “beyond the framework of the European and international legal field and completely contradicts the obligations the Russian Federation has assumed in the sphere of the defense of civil rights and freedoms.”
His words of concern are unintentionally reinforced by his suggestion to readers that they turn to the svobodasobraniy.ru/ in order to reach the entire report. But unfortunately for those who do so, they will find that that site has been blocked, almost certainly by the very officials who are repressing all the other freedoms Russian should enjoy.
http://www.interpretermag.com/putin-eliminating-rights-of-russians-step-...
https://consortiumnews.com/2015/03/22/crimeans-keep-saying-no-to-ukraine/
Amnesty International and Human Rights Watch each found human rights and law of war violations on both sides, but it doesn't add up to Nuland's claimed "reign of terror." Perhaps the greatest terror has been the shelling and use by both sides of cluster bombs and unguided rockets on civilians. But now a truce is holding in the Donbass war zone. And in Crimea, though a clampdown on the Tatar minority and journalism has occurred, respected polling organizations have found wide support for that region being part of Russia. After the coup, Russia prevented the new government from taking power in Crimea, where ethnic Russians are the majority. And after a vote by the Crimean parliament for annexation to Russia, a referendum was held on the same question. The referendum passed with 96% and the annexation proceeded. Gallup found that 83% of all Crimeans, and 68% of ethnic Ukrainian Crimeans, thought the referendum legitimate. The German polling firm GfK asked the question, "Do you endorse Russia's annexation of Crimea?" and got 93% "yes" answers.
- http://theparagraph.com/2015/04/ukraine-crisis-facts-bring-discord-to-u-...
xxxooo
DON'T TROLL ME, BRO!
you: "after a vote by the Crimean parliament for annexation to Russia, a referendum was held on the same question."
Reality:
Igor Girkin, ex-minister of defense of the so-called Donetsk Republic:
“Have you actually been to Crimea during the referendum? Well, I have. I have been there since February the 21th. What you are describing here is absolute rubbish. There were no policemen who supported our side at that time. The only law-enforcement subdivision that has joined our ranks back then was the Berkut. The rest of the law-enforcement agencies remained under control of Ukrainian Ministry of Internal, and kept carrying out the MIA’s orders. Yes, sometimes they were sabotaging these orders, but all in all they were under Ukrainian control. I haven’t seen any support from official governmental representatives in Simferopol. Our troops had to force the deputies into the Oblast Council hall so that these representatives would vote in favor of our initiatives. I know this because I have been at the time commandeering one of such militant teams and I’ve seen it all from the inside. We had absolutely no support from the people, not to mention the army. The Ukrainian army units remained loyal to Kyiv as they were. Furthermore, most of the army remained that way. The only thing that made what we have accomplished in Crimea possible was the presence of Russian army.”
https://www.youtube.com/watch?v=mcCqrzctxH4
https://stopputinregime.wordpress.com/2015/03/23/putin-lies-in-ukraine-1/
by Konstantin Kosaretsky
In early February 2015 an interesting study, “The Socio-Political Sentiments in Crimea,” was released by the Ukrainian branch of GfK, the well-known German social research organization, as part of the Free Crimea initiative. Intriguingly, the primary objective of this project, launched with the support of the Canada Fund for Local Initiatives, was to “debunk aggressive Russian propaganda” and to “reintegrate Crimea into Ukraine.” Thus the researchers can hardly be suspected of being Russian sympathizers. So let’s take a look at the results.
The attitudes of Crimeans were studied in January 2015. This representative sample included 800 respondents living on the peninsula, from all age and social categories. The poll had an error margin of 3.5%.
In answer to the most important question: “Do you endorse Russia’s annexation of Crimea?” 82% of the respondents answered “yes, definitely,” and another 11% – “yes, for the most part.” Only 2% gave an unambiguously negative response, and another 2% offered a relatively negative assessment. Three percent did not specify their position.
We feel that this study fully validates the results of the referendum on reunification with Russia that was held on March 16, 2014. At that time 83% of Crimeans went to the polling stations and almost 97% expressed support for reunification.
.... http://www.globalresearch.ca/the-annexation-of-crimea-to-russia-opinion-...
About 93% of Crimean voters have backed joining Russia and seceding from Ukraine, exit polls have suggested.
Crowds of pro-Moscow voters celebrated in the main city of Simferopol, and Crimea's pro-Russia leader said he would apply to join Russia on Monday.
But many Crimeans loyal to Kiev boycotted the referendum, and the EU and US condemned it as illegal.
Pro-Russian forces took control of Crimea in February after Ukraine's pro-Moscow president was overthrown.
http://www.bbc.com/news/world-europe-26598832
We used to have exit polls in th eUS and UK - but they dont do that much anymore.
If they did, for example, it would be obvious that the Scottish voted for independence, despite the opposition of special interests.
http://www.algemeiner.com/2014/09/19/scottish-independence-rejected-jewi...
http://www.haaretz.com/weekend/week-s-end/jews-on-scottish-independence-...
http://www.jpost.com/Jerusalem-Report/Jewish-World/Scottish-independence...
Funny how these Jewish Scots don't want to "return" to their "homeland" - just want to prevent Scottish independence because it "might" somehow negatively impact Israel.
But loyal to Auld Scotland to a fault, these folks, eh?
Of course, I'm sure most of all it was the City that wanted to make sure Scotland remained unfree...
Don’t compare Scottish referendum where they had a year for public discussions and international observers to referendum performed according to international law and that putin regime operation where putin regime special forces took over part of Ukraine and forced Crimea parliament members to vote for "referendum" under pointing a gun into their head to put out a choice for people that doesn't even include to stay in status quo - that is - to stay in Ukraine. People are being terrorized and frighten to say what they mean - you can't trust anyone under putin regime - no poll can work there. People look at them as FSB agents that would take them away and kill if they would show wrong answer.
The Interpreter
A special project of Institute of Modern Russia
https://consortiumnews.com/2014/11/26/neocons-claim-to-fight-russian-unr...
http://richardedmondson.net/2014/03/01/ned-jewish-neocons-provoke-crisis...
http://thepassionateattachment.com/2014/11/30/menace-of-hypocrisy-neocon...
The mainstream U.S. news media is so in the tank for the post-coup Ukrainian government that anything negative – from neo-Nazi militias to apparent “death squad” operations – is ignored, including a string of mysterious deaths of anti-coup politicians, as William Blum noted at Anti-Empire Report.
https://consortiumnews.com/2015/04/03/mysterious-deaths-in-ukraine/
His lip service to the "middle class" is straight bullcrap. Follow his bullcrap advice, and its current unravelling will end in its destruction.
Lawrence Summers is a lying sack of shit, no doubt about it, but he's a lying sack of shit that we'd better get used to. He'll be Hillary's Treasury Secretary at the very least.
Summers is like Obama extolling the virtue of his policies to help the middle class with his dick in their ass the entire time. And the supporters seem to like it
"It may be time to look once again at what Larry Summers and his Rubinomics gang did in Russia in the mid-1990s and to Third World countries during his tenure as World Bank economist to see what kind of future is being planned for the U.S. economy over the next few years."
- http://www.softpanorama.org/Skeptics/Pseudoscience/harvard_mafia.shtml
I was shocked - *sahocked* to learn, after a list of names that read like an AIPAC subcommittee, that Yegor Gaida was Jewish, too.
https://en.wikipedia.org/wiki/Yegor_Gaidar
Oh, and Shleifer
https://en.wikipedia.org/wiki/Andrei_Shleifer
pretty good for a group that was less than 3% of the population.
All a coincidence - of course.
I'm just saying it's a remarkable coincidence.... but surely just a coincidence.
A cohencidence actually.
The money system predicates everything. Here’s how the China gambit works, and this frog Summers was in on the action and responsible for much of U.S. destruction.
1)
U.S. has reserve currency
2)
U.S. and China sign MFN status
3)
Captains of Industry and Wall Street see wage arbitrage opportunity
4)
Captains and Wall Street take out loans from U.S. Credit issuing Banks to offshore Industry to China
5)
Industry is lifted out of the U.S. and transplanted. This then take knowledge learned by U.S. middle class workers and transplants it, effectively monetizing the past for today, and also disenfranchising those who invented the methods.
6)
Many U.S. workers have to train their Chinese counterparts, in order to give away their job.
7)
Chinese goods are then exported back to the U.S. at China price
8)
Chinese goods are further subsidized by taxpayer, as U.S. Navy insures transshipment.
9)
China price is just below the American price to then make maximum wage arbitrage. Wage Arbitrage is delta between China and American wages. Dock workers are paid off skim, and distribution channels including companies like Wall Mart are also paid for shelf space (Skiff).
10)
This then funnels profits to Wall Street, Captains, and banks that financed the off-shoring.
11)
China recycles their now excess dollars into buying TBills. They do this by using Yuans to buy said excess dollars now held at Chinese manufacturers. The buying of dollars and recycling them into debt instruments means the next two things:
12)
Recycled dollars do not buy U.S. Goods, this then disenfranchises American manufacturing
13)
Recycled dollars go into TBills, to then hold dollar price high, and Yuan low. This then allows more offshoring as Yuan stays low. This mechanism helps China climb up the knowledge curve fast. Further, China does counterfeiting of goods at night, using same workers embedded in “western transplants” learn during the day. For example, Chevy cars are copied exactly.
14)
China uses industrial policy to grab more American industry. Typically they offer Yuan loans to attract new business, and then they forgive the loans. This action puts more Yuans in their money supply, so they can then buy the dollars, to then return said dollars to buy more TBills. More Yuans grow with the growing Chinese economy, so it is not inflationary.
15)
The gambit makes 401K’s grow, and makes wall street look like a hero, but in reality it turns main-street into a zero.
Jewish Frogs like Summer, who are constantly on the side of Wall Street and Private Banks are actually the Bag Men for this gambit. Their power base is credit as money, especially international credit as money. Jewish money power = private bank credit = international credit. Summers doesn’t give a damn about U.S. sovereignty, or the wealth of its people.
China FORGIVES LOANS as a sovereign prerogative. This is rope a dope behavior and in this way they make their money supply look like it is following Basel Rules, but it is not. They are roping the dope westerners; Westerners who are greedily seeking wage arbitrage but selling their birthright instead. China’s money supply is not all private banker credit. This makes China permanently efficient.
Game – Set - Match.
www.sovereignmoney.eu
"China FORGIVES LOANS as a sovereign prerogative." "Not following Basel Accords"
Seem important to pass this around.
Sounds to me like the Money Mafia pumping zero interest loans into fracking. Printed fiat overrides market forces.
my 2 cents:
There doesn't seem to be a causal relationship between (1) and (2).
On (12), it's not entirely true. China did try to purchase expensive high tech products from the US. The US refused, under the excuse of national security threat and ideological differences in political structure.
On (13), counterfeiting of goods in China is nothing compared counterfeiting of money in the US (by the Federal Reserve and its cohorts on Wall St.). The amount of money involved is several orders of magnitutde apart.
On (14), on a national / industry level, this claim is speculative at best. Besides, there are (and have been) serious consequences in providing loans to be forgiven at the outset. China doesn't need this step to buy the dollars - China's central bank can print money for that directly. Whether it is inflationary depends on the amount and speed. We know as a matter of fact that China has been experiencing inflations over the years.
Shocking it may be, but being one of those non-USA types, I managed to get my Summers mixed up with my Geithners.
The big question is: Does That Matter, (cosmically speaking)?
Thxs :)
we still have most of the nukes.
It was false anyway. Clean house. Start over. Kick out the scum. We can do this.
"emerging markets accounting for at least half of world output"
Historically nations who become and are super powers climbed to the top through being industrial producers, resource extractors and technology leades. Is anyone arguing that minus the Military Sector, the USA is any of these things anymore. Sure we invested Facebook and lots of Apps. That is hardly the stuff of superpowers.
The USA no longer accounts for nearly so much OUTPUT as it once did. Instead, through force of arms, we have forced the world to accept all the dollars we print, and give up their goods, commodities and services in return. We are a PRINTING super power. That can't last.
Things are working out just as Larry the Jew boy and his Zionist moneychangers had put in motion many years ago. All they need now is to figure a way to gain control of a billion guns.