Video: Geithner In Beijing – The Dangers of Exporting The Depression

(RussiaToday) – Treasury Secretary Geithner is on his way to Beijing, where he will meet with Chinese Vice Prime Minister Wang. The trip is in relation to US demands for a massive up valuation of the Chinese currency, the renminbi or yuan. This announcement has unleashed much gloating at the Associated Press and other pro-Wall Street news outlets, so it is important to issue a caveat at the very beginning: trips do not equal agreements. Obama made a personal visit to Afghanistan last month, and bilateral US relations with that country have been deteriorating in an alarming way ever since. Continue reading

Russia ready to abandon dollar in oil, gas trade with China

(RIANovosti) – Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday. Continue reading

MSM: The demise of the dollar

(Independent) – In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading Continue reading

Derivatives Collapse and the China Gold and Silver Markets

(BobChapman) – In 2009, China opened up various exchanges for investment in both gold and silver to the Chinese public, which previously was not allowed to invest in gold and silver. The opening of silver exchanges to the Chinese public is the most recent development and was accompanied by a ban on silver exports. The Chinese government is actively touting both gold and silver as an investment to the Chinese public, and with good reason. Continue reading

Towards a Global Currency? – Michel Chossudovsky

With a view to restoring financial stability, World leaders have called upon the Group of 20 countries (G-20) to instigate a new global currency based on the IMF’s  Special Drawing Rights (SDRs). Continue reading

Jim Rogers Sells Dollars, Plans to Short Treasuries

(Bloomberg) – The dollar and U.S. Treasuries are both likely to slide as soaring government debt in the world’s biggest economy undermines confidence in its assets, according to Jim Rogers, chairman of Rogers Holdings. Continue reading

MSM: America threatens trade war with China

The United States government is planning to revive a bill that will punish China for artificially boosting its trade through “currency manipulation”. Continue reading

MSM: US-China currency war eclipses Davos, and threatens the world

Turning a corner in the labyrinthine corridors of the Davos nerve-centre, I ran smack into Chinese premier Wen Jiabao – followed by a regiment of retainers and senior offices in full regalia. Continue reading

Hyperinflation Will begin In China And It Will Destroy The Dollar

The conventional wisdom on China is dead wrong. Specifically, there is a widespread belief, as expressed by Goldman Sachs, that “China will keep the yuan trading within a narrow range in 2009 due concerns about exporters.” Worse still, others are even predicting that China will devalue its currency! The sheer wishful thinking is astounding! The idea that “China will keep the dollar peg to help its exporters” ranks all the way up there with “Housing prices always go up” and “You can spend your way to prosperity”. Continue reading

MSM: Obama team accuses China of manipulating its currency

Barack Obama‘s choice as the next treasury secretary has fired the first shot in what could be a new protectionist battle between America and China.

Tim Geithner told US senators that Obama believes that China has been manipulating its currency, the yuan – an accusation that is likely to hurt relations between the two countries. Continue reading