Three Reasons the China Currency Bill Will Backfire
David Zeiler writes: A Senate bill that aims to restore American jobs by punishing China for its undervalued currency may resonate with a frustrated American public, but it won't work.
In fact, instead creating jobs, the bill is more likely to trigger a damaging trade war with China and increase retail prices for Americans - further hurting the consumer spending that has already been undermined by high unemployment.
Most electricity today is generated by coal-fired power plants,operated by monopoly, state-regulated utilities. Because they've been around so long, and because coal is cheap, these plants have built-in cost advantages that no new technology can overcome without help. Federal guarantees help lower the cost of capital for technologies like solar; they help spur innovation; and they help encourage private investment.
These are all worthy goals. Over all, the American solar industry is a big success story; it now employs more people than either steel or coal, and it's a net exporter.
Sep 25 06:42 AM US/Eastern
China, already the world's second largest bullion consumer, has installed the country's first gold vending machine in a busy shopping district in Beijing, state media said on Sunday.
Shoppers in the popular Wangfujing Street can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices, the People's Daily said on its website.
Each withdrawal is capped at 2.5 kilograms (5.5 pounds) or one million yuan (about $156,500) worth of gold, the report said.
US President Barack Obama secretly authorized the sale of 55 powerful bunker-buster bombs to Israel, a report by Newsweek magazine says.
The 55 bunker-busters are reportedly small-sized GBU-39 bombs which have been designed to enable jet fighters to carry a higher number of bombs in place of a single one-ton bomb.
first , in china, on most internet political forums(controlled oppositions) users strongly support GOP as always..Ron paul isn't famous here, but I have heard people call him extremely naive..
Most worship the so called western spirits to death. they think americans go to war on middle east, because they want to detroy the dictators and free there people.
so, they think after middle east, america will focus on far east and liberate chinese..
"A key rate setter-for China’s central bank let slip – or was it a slip? – that Beijing aims to run down its portfolio of US debt as soon as safely possible.
“The incremental parts of our of our foreign reserve holdings should be invested in physical assets,” said Li Daokui at the World Economic Forum""
There are two mainstream market assumptions that, in my mind, prevail over all others. The continuing function of the Dow, the sustained flow of capital into and out of the banking sector, and the full force spending of the federal government are ALL entirely dependent on the lifespan of these dual illusions; one, that the U.S. Dollar is a legitimate safe haven investment and will remain so indefinitely, and two, that China, like many other developing nations, will continue to prop up the strength of the dollar indefinitely because it is “in their best interest”.
This is the first time China has said it is going to "liquidate" U.S. Treasuries. You need dollars to buy up U.S. assets, not Treasuries. They will be standing in line with the bankers and will be ready when everything here is sold for a penny on the dollar. "The Great American Rummage Sale" will be coming to your community soon!
The debt markets have been warned.
A key rate setter-for China's central bank let slip – or was it a slip? – that Beijing aims to run down its portfolio of US debt as soon as safely possible.
Wikileaks has uncovered a declassified cable from John Huntsman indicating China's clear understanding of the growing tension and comprehension of the ability of the US to entirely destroy it economically with one swipe of the Presidential pen via a massive devaluation of the USD or repegging to gold.
In the recent video of the Congressional Jobs Committee at http://www.youtube.com/watch?feature=player_embedded&v=Dgpq-... which features Peter Schiff providing excellent testimony, Congressman Cummings (D) remarked on China's intensive infrastructure building, some 9% of its GDP, and complained about America's less than 0.5% investment in new and repaired infrastructure growth.
Reflecting on Rep. Cumming's statements caused me to conclude that the United States and China cannot be compared in this regard. In fact, China cannot be compared to ANY country in the world.
If the terrorists attack the United States because we're free, why do they attack Russia? Russia's an oligarchial oppressive state. Could it be because they are occupying and oppressing Muslims in Chechnya? Is the reason China has terror attacks because they're free or because they are oppressing and occupying the lands of the Muslim Uyghurs? Good questions to ask people who think "they hate us cause we're free"
This article speaks volumes...
WikiLeaks : "China Buying Gold To Destroy The Dollars Worlds Reserve Status"
Wondering why gold at $1850 is cheap, or why gold at double that price will also be cheap, or frankly at any price? Because, as the following leaked cable explains, gold is, to China at least, nothing but the opportunity cost of destroying the dollar’s reserve status. Putting that into dollar terms is, therefore, impractical at best, and illogical at worst.
My first reaction to this was "What?!" "They owe us?! Apparently, China seems to play by different rules than the rest of the world when it comes to its sovereign debt. Debt owed to them is counted by them, but not debt to be paid to others...for details: