Currency Wars: A Race to the Bottom of the Inflationary Barrel
Ron Paul October 20, 2010 Inflation fears are heating up this week as Fed Chairman Ben Bernanke gave a speech in Boston on Friday, causing further frantic flight into gold by those fearful of the coming “quantitative easing” the Fed is set to deliver in November. Others who view gold as a short term investment engaged in immediate profit-taking after Bernanke’s speech. Gold is more correctly viewed as insurance against bad monetary policy decisions that erode the value of savings. Those bad decisions keep coming at an ever faster clip these days and we hear more and more talk of currency wars especially between the dollar, the Chinese yuan, the Japanese yen, the Australian dollar, and the Euro. As the economies of the world continue to stagnate or contract, monetary policy decisions become more relevant to people who once thought this topic arcane. We have several examples this week of major fumbles on the part of the US Central Bank: ACCORDING TO THIS FORMULA : THIS BOOK : " GIAI PHONG " by T Terzani. It describes a Vietnamese as THIEF, A LIAR, A KILLER, A DECEIVER , a sleeper ...... Paul Joseph Watson Infowars.com October 20, 2010 With protesters in France entering a seventh day of strikes and demonstrations against draconian austerity measures, many political observers in the U.S. are now wondering how long it will be before similar scenes unfold on American streets, with even Time Magazine now conceding that the prospect of a civil war in the States “doesn’t seem that far fetched”. To be clear, Stephen Gandel’s article entitled Will the Federal Reserve Cause a Civil War? largely dismisses the possibility that the Fed’s upcoming November 3rd meeting, during which Ben Bernanke is expected to announce a fresh round of money printing, will prompt national uproar, but it doesn’t exactly debunk the notion of longer term social dislocation as a backlash to the crumbling economy, as many are now forecasting. Ms Chea Leang seen here on this picture ,the so called "CAMBODIAN" CO-PROSECUTOR, is a Vietnamese woman Phnom Penh (Cambodia) 20 November 2006. Co-prosecutors Robert Petit talked to Chea Leang(a Vietnamese posing as "Cambodian" co-prosecutor) during the plenary session of judges for the KR Tribunal (Photo: John Vink/Magnum) ACCORDING TO THIS FORMULA : THIS BOOK : " GIAI PHONG " by T Terzani. It describes a Vietnamese as THIEF, A LIAR, A KILLER, A DECEIVER , a sleeper ...... Strong Resolution on Cambodia Human Rights Abuses Feb. 27, 1982 : UN Commission on Human Rights meeting in Geneva adopted a resolution condemning Vietnam’s occupation of Cambodia as a violation of Cambodian human rights. The vote was 28 in favor, 8 against, and 5 abstentions. Oct. 21, 1986 The UN General Assembly adopted a resolution A/RES/41/6, by vote of 116-21 with 13 abstentions, calling for a withdrawal of Vietnamese forces from Cambodia. 10 UN RESOLUTIONS,(1979-1988) VOTED BY 116 UN MEMBER COUNTRIES ,CALL VIETNAM TO CEASE HER OCCUPATION OF CAMBODIA & REMOVE ALL HER TROOPS FROM THE COUNTRY, ARE NOT RESPECTED AS OF TODAY. President Reagan's address to the 43d Session of the United Nations General Assembly in New York, New York,September 26, 1988. "Mr. Secretary-General, there are new hopes for Cambodia, a nation whose freedom and independence we seek just as avidly as we sought the freedom and independence of Afghanistan. We urge the rapid removal of all Vietnamese troops ...." As of today,Cambodia is still occupied by the Vietnamese troops despite the call from the US president to Vietnam to cease her occupation of Cambodia since 1988. Cambodia needs Independence from Vietnam and the Vietnamese invaders. Vietnam must cease her occupation of Cambodia at once. BURY The question remains – how will Americans react if the Obama administration pushes ahead with its plan to seize all private 401(k) pensions, which will be swallowed up by the Social Security Administration under the banner of mandatory Guaranteed Retirement Accounts? How will Americans react to the upcoming announcement that the Federal Reserve will further eviscerate the value of the dollar by purchasing junk assets from big banks at exorbitant prices with money printed out of thin air? The article also features a quote from a Washington’s Blog piece which warns that the Fed’s policies could lead to the very destruction of the republic. “In a very real sense, Bernanke is throwing Granny and Grandpa down the stairs – on purpose. He is literally threatening those at the lower end of the economic strata, along with all who are retired, with starvation and death, and in a just nation where the rule of law controlled instead of being abused by the kleptocrats he would be facing charges of Seditious Conspiracy, as his policies will inevitably lead to the destruction of our republic.” Lending the notion credence, Gandel writes, “With the Tea Party gaining followers, the idea of civil war over economic issues doesn’t seem that far-fetched these days.” Yes, you read that correctly. Even Time Magazine is now conceding that the current economic course of the nation could lead to outright civil war and revolution. Gandel finishes the article by leaving the prospect of widespread civil unrest as an open question. “So it seems clear what the Fed is likely to do,” he writes. “How the economy, the militias and the rest of us react is up in the air. The count down is on. T minus 15 days to Fedamageddon. See you there, hopefully.” Of course, people like Gerald Celente and a host of other economic forecasters have been predicting civil unrest, food riots and tax rebellions for the past two years, but to have Time Magazine seriously entertain the notion of civil war in the United States is a shocking reminder of just how close to the precipice we now stand. Numerous forecasters, governments, spy agencies, and international bodies are predicting mass riots and unrest in response to a worsening economic picture. In November 2008, right as the economic implosion was unraveling, the U.S. Army War College released a white paper called Known Unknowns: Unconventional ‘Strategic Shocks’ in Defense Strategy Development. The report warned that the military must be prepared for a “violent, strategic dislocation inside the United States,” which could be provoked by “unforeseen economic collapse,” “purposeful domestic resistance,” “pervasive public health emergencies” or “loss of functioning political and legal order.” The “widespread civil violence,” the document said, “would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.” How Americans will react to what many see as a make or break moment for the US economy, the Fed’s announcement on November 3rd, largely depends on how well they understand the fact that their financial future and that of their children now hangs in the balance like never before. As the Economic Collapse Blog points out, QE2 represents the biggest bank robbery in history, and is nothing less than another huge transfer of wealth from American taxpayers to big banks. The money Bernanke prints out of thin air, which will further devalue the greenback and every dollar earned or saved by American citizens, will be used to purchase large quantities of “troubled assets” from U.S. banks at well above market price. Small banks will be allowed to wither and die, whereas the huge megaliths will collect mountains of free money at the expense of hard working Americans. The long term impact of the Fed buying these toxic junk assets with money printed out of thin air will be an inflationary holocaust that does nothing to rescue the US economy but everything to depreciate the very real assets of the American taxpayer. We are already on the road to serious inflation and the Federal Reserve has not even fired up the money hoses yet. So what is going to happen after they pump trillions more into the economy? Printing more money and giving it to the banks is not going to solve our economic problems. It is just going to make them worse. But unfortunately, American voters get no say about any of this. Our national monetary policy is in the hands of an unelected central bank that does pretty much whatever it wants. If as many Americans were aware of what the Federal Reserve is about to do with their financial future as are knowledgeable about the intricacies of Dancing with the Stars, then the “civil war” that even Time Magazine is now presenting as a justifiable response to the crisis would be a very plausible prospect. Watch Matt Taibbi’s explanation of what the Fed is about to do with your money. > Date: Tue, 19 Oct 2010 15:14:23 -0700 > Subject: Re: Fwd: FW: ICA- Announcement of International Cambodian Assembly > From: [email protected] > To: [email protected] > > -- You received this message because you are subscribed to the Google Groups "Cambodia Discussion (CAMDISC) - www.cambodia.org" group. This is an unmoderated forum. Please refrain from using foul language. Thank you for your understanding. Peace among us and in Cambodia. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/camdisc Learn more - http://www.cambodia.org
