- Despite their comments to the contrary, the Russians and Chinese are in fact challenging the USD hegemony. They are putting the pieces in place for the eventual collapse of the USD. This is so that international trade can continue and they will minimize their losses.
China, Russia quit dollar on bilateral trade
China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday in St. Petersburg. Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
“About trade settlement, we have decided to use our own currencies,” Putin said at a joint news conference with Wen in St. Petersburg. The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.
The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said. “That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries,” he said.
Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation. The documents covered cooperation on aviation, railroad construction, customs, protecting intellectual property, culture and a joint communiqu. Details of the documents have yet to be released.
Putin said one of the pacts between the two countries is about the purchase of two nuclear reactors from Russia by China’s Tianwan nuclear power plant, the most advanced nuclear power complex in China.
Putin has called for boosting sales of natural resources – Russia’s main export – to China, but price has proven to be a sticking point. Russian Deputy Prime Minister Igor Sechin, who holds sway over Russia’s energy sector, said following a meeting with Chinese representatives that Moscow and Beijing are unlikely to agree on the price of Russian gas supplies to China before the middle of next year. Russia is looking for China to pay prices similar to those Russian gas giant Gazprom charges its European customers, but Beijing wants a discount. The two sides were about $100 per 1,000 cubic meters apart, according to Chinese officials last week.
Wen’s trip follows Russian President Dmitry Medvedev’s three-day visit to China in September, during which he and President Hu Jintao launched a cross-border pipeline linking the world’s biggest energy producer with the largest energy consumer.
Wen said at the press conference that the partnership between Beijing and Moscow has “reached an unprecedented level” and pledged the two countries will “never become each other’s enemy”. Over the past year, “our strategic cooperative partnership endured strenuous tests and reached an unprecedented level,” Wen said, adding the two nations are now more confident and determined to defend their mutual interests.
“China will firmly follow the path of peaceful development and support the renaissance of Russia as a great power,” he said. “The modernization of China will not affect other countries’ interests, while a solid and strong Sino-Russian relationship is in line with the fundamental interests of both countries.”
Wen said Beijing is willing to boost cooperation with Moscow in Northeast Asia, Central Asia and the Asia-Pacific region, as well as in major international organizations and on mechanisms in pursuit of a “fair and reasonable new order” in international politics and the economy.
Sun Zhuangzhi, a senior researcher in Central Asian studies at the Chinese Academy of Social Sciences, said the new mode of trade settlement between China and Russia follows a global trend after the financial crisis exposed the faults of a dollar-dominated world financial system.
Pang Zhongying, who specializes in international politics at Renmin University of China, said the proposal is not challenging the dollar, but aimed at avoiding the risks the dollar represents.
- Congressman Ron Paul speculated on the Alex Jones Show today that the war footing between North and South Korea could be an orchestrated crisis to boost the dollar and reverse the US economy, paralleling the RAND Corporation’s call two years ago for the United States to become embroiled in a major war as a means of preventing a double dip recession.
- Despite all the hubris by North Korea, I believe Kim Jong-Il is rational. He knows an all out war with South Korea and America is not winnable. At best he hopes that China will intervene. But this is in no way assured.
- The Anglo-American Illuminist cabal knows that some kind of future military conflict with China is inevitable. China is the main threat to their fiat currency hegemony. Will these genocidal snakes up the stakes and escalate the conflict into all out World War 3? Some insiders have been reporting that this is the plan. See:
Ex. British Military: The Illuminati Plans World War 3 in 18 – 24 Months!
Joel Skousen: TSA Revolt, Biometric Security, False Flag Terrorism, World War 3, Bank of England Involved in Laundering Money to The IRA …. !!
- The Illuminist banksters will likely use the world war card again to depopulate the sheeple. Many are waking up to the financial rape that is going on in America and EU. The Satanic cabal which rules this world is finding it hard to conceal itself and its actions!
Korean War Crisis: Brought To You By Uncle Sam
Despite the fact that South Korea admits it fired the first shots that prompted the North to retaliate, the vast majority of the establishment press are feverishly blaming North Korea for a new escalation in the crisis, while failing completely to acknowledge the fact that the whole fiasco was generated as a direct result of Uncle Sam’s policy through two separate administrations to ensure hereditary dictator Kim Jong-Il and his successors acquired the atom bomb.
As we have exhaustively documented, North Korea’s nuclear belligerency was almost exclusively a creation of the U.S. government in that they armed the Stalinist state both directly and indirectly through global arms dealers under their control, namely Dr. Abdul Qadeer Khan. While labeling North Korea as part of the “axis of evil,” the U.S. government was enthusiastically funding its nuclear weapons program at every stage.
Both the Clinton and Bush administrations played a key role in helping Kim Jong-Il develop North Korea’s nuclear prowess from the mid 1990’s onwards. Just as with Saddam Hussein’s chemical and biological weapons program, it was Donald Rumsfeld who played a key role in arming Kim-Jong-Il.
Rumsfeld was man who presided over a $200 million dollar contract to deliver equipment and services to build two light water reactor stations in North Korea in January 2000 when he was an executive director of ABB (Asea Brown Boveri). Wolfram Eberhardt, a spokesman for ABB confirmed that Rumsfeld was at nearly all the board meetings during his involvement with the company.
Rumsfeld was merely picking up the baton from the Clinton administration, who in 1994 agreed to replace North Korea’s domestically built nuclear reactors with light water nuclear reactors. So-called government-funded ‘experts’ claimed that light water reactors couldn’t be used to make bombs. Not so according to Henry Sokolski, head of the Non-proliferation Policy Education Center in Washington, who stated, “LWRs could be used to produce dozens of bombs’ worth of weapons-grade plutonium in both North Korea and Iran. This is true of all LWRs — a depressing fact U.S. policymakers have managed to block out.”
“These reactors are like all reactors, they have the potential to make weapons. So you might end up supplying the worst nuclear violator with the means to acquire the very weapons we’re trying to prevent it acquiring,” said Sokolski.
The U.S. State Department claimed that the light water reactors could not be used to produce bomb grade material and yet in 2002 urged Russia to end its nuclear co-operation with Iran for the reason that it didn’t want Iran armed with weapons of mass destruction. At the time, Russia was building light water reactors in Iran. According to the State Department, light water reactors in Iran can produce nuclear material but somehow the same rule doesn’t apply in North Korea.
In April 2002, the Bush administration announced that it would release $95 million of American taxpayer’s dollars to begin construction of the ‘harmless’ light water reactors in North Korea. Bush argued that arming the megalomaniac dictator Kim Jong-Il with the potential to produce a hundred nukes a year was, “vital to the national security interests of the United States.” Bush released even more money in January 2003, as was reported by Bloomberg News.
Bush released the funds despite the startling revelation, reported by South Korean newspapers, that a North Korean missile warhead had been found in Alaska.
Construction of the reactors was eventually suspended, but North Korea had an alternative source through which they could obtain the nuclear secrets vital to building an atom bomb arsenal – CIA asset and international arms smuggler AQ Khan.
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- North Korea is run by genocidal crazy madmen: Kim Jong Il and his son. But it does not mean that their behavior is unpredictable. Like all highly evolved monkeys, they are motivated by self-preservation. Why goto war with the South and gain nothing? The status quo suits them perfectly. I would be wary to put the blame 100% on North Korea. The western Illuminist MSM demonize them in support of the military industrial complex (MIC). War is a business. It is sold/marketed to the sheeple just like hamburgers and diet colas. Truth is no obstacle to the marketing of war. Just fabricate all the ‘news’ and ‘truths’ you need to drive the sheeple to war.
- One American diplomat made this comment, I paraphrase: If North Korea did not exist, we would have created one! The Anglo-American cabal builds up enemies as part of its pretext for world domination and conquest. What do you think the Global War on Terrorism is about? It is the building up of false/fake enemies to gain more power throughout the world. North Korea is used as a means of controlling South Korea and Japan. To cause them to remain in the Anglo-American sphere of influence. To use them in the encirclement of China and Russia. These Illuminists have the perfect excuse to build military bases in Asia. This is all a genocidal game!
Tensions Mount in Korea as Both Sides Prepare for Possible War, Japan Calls For Attack
Update: South Korea has admitted that they fired the first shells. Is this merely a globalist imposed attack to further destroy the economy and rise worldwide tensions? Remember, Donald Rumsfeld and co. SOLD North Korea the very weapons that they are demonized for using/having.
Feb 24, 2003
Donald Rumsfeld, the US secretary of defence, was on the board of technology giant ABB when it won a deal to supply North Korea with two nuclear power plants. Weapons experts say waste material from the two reactors could be used for so-called “dirty bombs”. The Swiss-based ABB on Friday told swissinfo that Rumsfeld was involved with the company in early 2000, when it netted a $200 million (SFr270million) contract with Pyongyang.
The ABB contract was to deliver equipment and services for two nuclear power stations at Kumho, on North Korea’s east coast. Rumsfeld – who is one of the Bush administration’s most strident “hardliners” on North Korea – was a member of ABB’s board between 1990 and February 2001, when he left to take up his current post.
At this point it is to early to tell if this situation will escalate to full scale war. What we do know is that North Korea has threatened continued attacks on South Korea who they claim provoked them into shooting in the first place.
Update: Debkafile is now reporting that Japanese Prime Minister Naoto Kan called Obama and demanded that the United States, Japan, and South Korea attack North Korea! ….
Tensions are mounting after a North Korean artillery attack left at least 14 South Koreans injured and 2 dead. The South was apparently conducting a routine drill near the near the area that was attacked. Talk of nuclear redeployment and swift retaliation has lead some to believe that war is imminent. On Monday, before the artillery attack, South Korea officials denied that they were considering redeploying U.S. tactical nuclear weapon in respond to the Norths nuclear aggression.
South Korea has scrambled fighter jets to the region in anticipation of another attack. Al Jazeera is reporting that officials are evacuating fisherman from the island that was initially attacked.
President Obama has condemned the attacks while Europe has been relatively quiet. Will this attack have an adverse effect on an already decimated economy? So far the answer is yes. Shares are down throughout Europe amid the attack and massive bailouts in Ireland.
Could this be a staged event used to further destroy the economy and create worldwide fear/tension?
**Note: North Korea has now claimed that the South actually fired first. This could be a move by the North to force China to “investigate” the incident instead of outright condemning the North.
- The sovereign debt crisis will build over time into an inevitable global collapse. After Ireland, it looks like the snakes will bash Portugal. Thereafter, the rest of the PIIGS, then the Big 3 ie : Germany, France and England. Spain is a large economy. Should Spain default, the falling dominoes will not be controllable. This is all an engineered collapse paving the way for a One World Currency, Global Supra-National Central Bank and World Government. The solution by the Illuminist IMF/ECB are red herrings. They will result in guaranteed financial, economic and monetary collapse. This is a scam to enslave the sheeple. They will foot the bill to their own financial rape!
Spanish Officials Try To Stem Fears as Funding Costs Surge
MADRID—Spanish officials are stressing their deficit-cutting efforts are on track and promised to push through tough economic reforms in a renewed effort to keep concerns about Ireland from spilling into the largest of the troubled euro zone economies.
In the latest sign of investors worries, Spanish financing costs shot up at a debt auction on Tuesday, and the country’s risk premium – as measured by the spread on Spain’s 10-year bond over the German equivalent – hit its highest level since the creation of the euro in 1999, underscoring that progress to reduce budget deficits isn’t coming quickly enough to stem the damage.
Bank of Spain Governor Miguel Angel Fernandez Ordonez, who is also a member of the European Central Bank’s governing council, urged lawmakers, who are debating Spain’s 2011 budget, not to relax those efforts. “The international financial and economic community and our European partners are going to be very demanding,” he said. A budget vote is expected by the end of the year.
Spooked by Greece’s financial meltdown, investors first started to become concerned about the possibility of sovereign debt defaults in other fiscally frail euro zone countries in May. In recent days, tensions have again flared up as Ireland’s public finances buckled under cost of shoring up its ailing banks.
Spain wasn’t originally hard hit by the latest bout of anxiety as measures such as a 5% cut in public-sector salaries and a two percentage point rise in value-added tax show signs of paying off. According to new data Tuesday, the Spain’s central government deficit fell by almost half in the first 10 months of the year to €31.26 billion (42.78 billion), or 2.96% of gross domestic product. The government has pledged to lower its overall budget deficit—including regional governments and other layers of administration—to 9.3% of GDP this year from 11.1% last year.
Still, even with the recent budgetary improvements, investors began to demand higher premiums to fund Spain’s debt sales Tuesday in the wake of the Irish bailout. At a sale of €3.256 billion of three- and six-month treasury bills, the Treasury’s paid an average yield of 1.743% on the three-month T-bills, up 83% from 0.951% a month ago, and it paid an average yield of 2.111% on the six-month T-bills, up 64% from 1.285% previously. The country is still some way from meeting its funding needs for 2010 and has further debt sales scheduled.
The cost to insure the country’s sovereign debt also reached new highs Tuesday, while Spain’s stock market was down about 3.1%, capping a second day of losses since the news of Ireland broke out. “We must highlight that we’re abiding by our commitments,” Carlos Ocaña, deputy finance minister for the budget, told lawmakers in parliament. “Due to the extraordinary measures taken, our situation is better than those of other countries, and better than it was in May,” he added.