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>China Won’t Play Ball With The Bilderbergers – Good or Bad?

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Here’s a great article on a failed mission. U.S. Treasury Secretary failed when in China recently to get any information from the Chinese about what they intend to do about their currency. He wanted to get the Chinese trapped into appreciating their currency in line with how the west has let their currencies run wild. The Chinese were not playing ball with the little weasel, Geithner. Good! The current administration, and the last one under Bush, are working for a one world society where the United Nations rule all of us and the International Monetary Fund governs all currencies – in fact disolves all currencies and gives us one currency which those Builderbergers can manipulate as they see fit. Three cheers for China, in that they didn’t reveal the direction of future plans. If I was China I would do likewise. I wouldn’t give in to international pressures. China, following this pattern, will emerge with all the power in the world and the Builderbergers will fade away. That’s my perception. Don White

China’s Currency Manipulation: About to Cause a Global Explosion?

Bryan Rich
Tim Geithner, Hillary Clinton and 200 other American bigwigs visited China this week.
First on the agenda: China’s position on the rising tensions between North and South Korea.
With the rest of the major economic powers of the world standing against the actions of North Korea — a nuclear threat run by an oppressive regime — a neutral standing China poses a reasonable concern for future global stability.
Another significant topic Geithner was hoping to make headway on was China’s currency policy. But China had little to say on the matter.
China’s currency continues to be a subject the U.S. is willing to tap dance around diplomatically. Because when the gloves eventually do come off, U.S./China relations could rapidly collapse.
That’s why China’s alignment on the Korean peninsula tensions is of particular significance …
It puts the catalysts in place for potential fallout between China and the Western world, which could mean economic war and perhaps military war ahead.
Despite the smile, Geithner couldn't get the Chinese to say much about their currency policies.
Despite the smile, Geithner couldn’t get the Chinese to say much about their currency policies.
I think China’s currency policy represents too big a risk to global economic recovery and global stability for Washington to continue granting a stay. So today I want to revisit two of the arguments I’ve laid out in past Money and Marketscolumns to explain why we should worry about China, despite the headlines about it being an engine of global growth.
The first is …
China’s Currency Manipulation Poses a Roadblock to Sustainable Global Economic Growth
The G-20, the IMF, the OECD — all of the major institutions and central banks of the world have been harping on the importance of repairing global imbalances over the past year … and for good reason. When they do this, they’re talking specifically to China.
Over the last 14 years, China’s economy has grown a whopping eight-fold, to $4.9 trillion, and it has quickly soared to become the world’s third-largest economy.
During the same period, the U.S. economy has only doubled in size.
As far as currencies are concerned, the dramatic outperformance of the Chinese economy relative to the U.S. economy would normally be reflected in a much stronger Chinese currency.
But China controls the value of its currency. They allowed it to strengthen only 18 percent during those 14 years — a mere drop in the bucket, keeping the advantage squarely in China’s court.
Moreover, since the financial crisis and global recession kicked in two years ago, China has returned to a peg against the dollar, artificially keeping its goods cheap for a weaker U.S. consumer and undercutting its export-centric competitors.
As long as China continues to control its currency, global trade will remain lopsided.
As long as China continues to control its currency, global trade will remain lopsided.
Here’s the problem: The global trade imbalance driven by China’s cheap currency is a recipe for more frequent boom and bust cycles. So this issue has to be addressed.
Then there is the …
Threat of Protectionism
Ultimately, the rest of the world will have to choose actionover diplomacy. That means imposing sanctions on China and trade restrictions on Chinese goods.
But the problem with protectionist activity is that it tends to bring about retaliation, and it becomes contagious. That’s exactly what happened in the Great Depression. And it’s what brought global trade to a standstill.
Today, with unemployment sustaining high levels, the political support to act is there. Many would think that “standing up to China, is standing up for us.”
You see, when jobs are tight the perception by most workers towards globalization becomes more negative. And studies show that during these times, the number of people who favor the idea of higher tariffs on imported goods increases considerably. As it becomes increasingly evident that China will not play ball on allowing its currency to appreciate to a fair value, geopolitical tensions are bound to elevate, and protectionism will likely follow.
And given the sovereign debt crisis that’s already underway, protectionism is yet another risk to the global economy that increases the probability of another bout with recession.
In fact, protectionism has historically put fragile economies in a deeper and more prolonged crisis …
I want to show you a chart of the S&P 500 from the Great Depression years. This gives you a clear understanding of why protectionism is so dangerous.
Chart
As you can see, the stock market topped in 1929 and fell 45 percent in just three months. Then, it had a sharp correction, recovering 47 percent from the November ‘29 low.
In June 1930, two U.S. Congressmen, Smoot and Hawley, championed a bill to slap a tariff on virtually every foreign good. And that was the catalyst for the second leg down … a massive plunge in the stock market and arguably the catalyst for the Great Depression.
Since April 15, Treasury Secretary Geithner has been “on the clock.” He’s past due on a currency report he owes Congress. In it he is expected, under recently adopted more stringent rules, to publicly name China a currency manipulator. And with that, a can of worms would be opened.
As an investor, it’s always important that you anticipate plausible scenarios. Because if a China conflict scenario plays out, you can expect the outcome to be bad for global growth, bad for global stocks, bad for commodity demand and likely good for the continued safe haven appeal of the U.S. dollar.
Regards,
Bryan

>The Old Man and the Dog

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By Catherine Moore
 
“Watch out! You nearly broad sided that car!” My father yelled at me,

“Can’t you do anything right?” 
Those words hurt worse than blows. I turned my head toward the elderly man in the seat beside me, daring me to challenge him. A lump rose in my throat as I averted my eyes. I wasn’t prepared for another battle.  “I saw the car, Dad. Please don’t yell at me when I’m driving.”
 

My voice was measured & steady, sounding far calmer than I really felt.

 

Dad glared at me, then turned away and settled back. At home I left Dad in front of the TV and went outside to collect my thoughts. Dark, heavy clouds hung in the air with a promise of rain. The rumble of distant thunder seemed to echo my inner turmoil. What could I do about him?

 

Dad had been a lumberjack in Washington and Oregon . He had enjoyed being outdoors and had reveled in pitting his strength against the forces of nature. He had entered grueling lumberjack competitions, and had placed often.
 The shelves in his house were filled with trophies that attested to his prowess.
 

The years marched on relentlessly. The first time he couldn’t lift a heavy log, he joked about it; but later that same day I saw him outside alone, straining to lift it. He became irritable whenever anyone teased him about his advancing age, or when he couldn’t do something he had done as a younger man.


Four days after his sixty-seventh birthday, he had a heart attack. An ambulance sped him to the hospital while a paramedic administered CPR to keep blood and oxygen flowing.

 

At the hospital, Dad was rushed into an operating room. He was lucky; he survived. But something inside Dad died. His zest for life was gone. He obstinately refused to follow doctor’s orders. Suggestions and offers of help were turned aside with sarcasm and insults. The number of visitors thinned, then finally stopped altogether. Dad was left alone.
 

My husband, Dick, and I asked Dad to come live with us on our small farm.. We hoped the fresh air and rustic atmosphere would help him adjust.
 

Within a week after he moved in, I regretted the invitation. It seemed nothing was satisfactory. He criticized everything I did. I became frustrated and moody. Soon I was taking my pent-up anger out on Dick. We began to bicker and argue.

 

Alarmed, Dick sought out our pastor and explained the situation. The clergyman set up weekly counseling appointments for us. At the close of each session he prayed, asking God to soothe Dad’s troubled mind.

But the months wore on and God was silent. Something had to be done and it was up to me to do it.
 

The next day I sat down with the phone book and methodically called each of the mental health clinics listed in the Yellow Pages. I explained my problem to each of the sympathetic voices that answered in vain.

 

Just when I was giving up hope, one of the voices suddenly exclaimed, “I just read something that might help you! Let me go get the article.”

 

I listened as she read. The article described a remarkable study done at a nursing home.. All of the patients were under treatment for chronic depression. Yet their attitudes had improved dramatically when they were given responsibility for a dog.

 

I drove to the animal shelter that afternoon. After I filled out a questionnaire, a uniformed officer led me to the kennels. The odor of disinfectant stung my nostrils as I moved down the row of pens. Each contained five to seven dogs. Long-haired dogs, curly-haired dogs, black dogs, spotted dogs all jumped up, trying to reach me. I studied each one but rejected one after the other for various reasons too big, too small, too much hair. As I neared the last pen a dog  in the shadows of the far corner struggled to his feet, walked to the front of the run and sat down. It was a pointer, one of the dog world’s aristocrats. But this was a caricature of the breed.

 

Years had etched his face and muzzle with shades of gray. His hipbones jutted out in lopsided triangles. But it was his eyes that caught and held my attention. Calm and clear, they beheld me unwaveringly.

 

I pointed to the dog. “Can you tell me about him?”

 

The officer looked, then shook his head in puzzlement. “He’s a funny one. Appeared out of nowhere and sat in front of the gate. We brought him in, figuring someone would be right down to claim him. That was two weeks ago and we’ve heard nothing. His time is up tomorrow.” He gestured helplessly.

 

As the words sank in I turned to the man in horror. “You mean you’re going to kill him?”
 
“Ma’am,” he said gently, “that’s our policy. We don’t have room for every unclaimed dog.” I looked at the pointer again. The calm brown eyes awaited my decision. “I’ll take him,” I said.
 

I drove home with the dog on the front seat beside me. When I reached the house I honked the horn twice. I was helping my prize out of the car when Dad shuffled onto the front porch. “Ta-Da! Look what I got for you, Dad!” I said excitedly.

 

Dad looked, then wrinkled his face in disgust. “If I had wanted a dog I would have gotten one. And I would have picked out a better specimen than that bag of bones. Keep it! I don’t want it” Dad waved his arm scornfully and turned back toward the house.

 

Anger rose inside me. It squeezed together my throat muscles and pounded into my temples. “You’d better get used to him, Dad. He’s staying!”
  Dad ignored me. “Did you hear me, Dad?” I screamed.
 

At those words Dad whirled angrily, his hands clenched at his sides, his eyes narrowed and blazing with hate.

 

We stood glaring at each other like duelists, when suddenly the pointer pulled free from my grasp. He wobbled toward my dad and sat down in front of him. Then slowly, carefully, he raised his paw.

 

Dad’s lower jaw trembled as he stared at the uplifted paw. Confusion replaced the anger in his eyes. The pointer waited patiently. Then Dad was on his knees hugging the animal.

 

It was the beginning of a warm and intimate friendship. Dad named the pointer Cheyenne . Together he and Cheyenne explored the community. They spent long hours walking down dusty lanes. They spent reflective moments on the banks of streams, angling for tasty trout. They even started to attend Sunday services together, Dad sitting in a pew and Cheyenne ly ing quietly at his feet.

 

Dad and Cheyenne were inseparable throughout the next three years. Dad’s bitterness faded, and he and Cheyenne made many friends. Then late one night I was startled to feel Cheyenne ‘s cold nose burrowing through our bed covers. He had never before come into our bedroom at night. I woke Dick, put on my robe and ran into my father’s room. Dad lay in his bed, his face serene. But his spirit had left quietly sometime during the night.

 

Two days later my shock and grief deepened when I discovered Cheyenne lying dead beside Dad’s bed. I wrapped his still form in the rag rug he had slept on. As Dick and I buried him near a favorite fishing hole, I silently thanked the dog for the help he had given me in restoring Dad’s peace of mind.

 

The morning of Dad’s funeral dawned overcast and dreary. This day looks like the way I feel, I thought, as I walked down the aisle to the pews reserved for family. I was surprised to see the many friends Dad and Cheyenne had made filling the church. The pastor began his eulogy. It was a tribute to both Dad and the dog who had changed his life. And then the pastor turned to Hebrews 13:2. “Do not neglect to show hospitality to strangers, for by this some have
entertained angels without knowing it.”
 

“I’ve often thanked God for sending that angel,” he said.

 

For me, the past dropped into place, completing a puzzle that I had not seen before: the sympathetic voice that had just read the right article.

 

Cheyenne ‘s unexpected appearance at the animal shelter. . . his calm acceptance and complete devotion to my father, and the proximity of their deaths. And suddenly I understood. I knew that God had answered my prayers after all.

 

Life is too short for drama & petty things, so laugh hard, love truly and forgive quickly. Live While You Are Alive. Forgive now those who made you cry. You might not get a second time.

 




>Obama: Turn In Your White House Keys

>I wrote a blog today that bluntly said Barak Obama should get out of town. He should turn in his White House keys, give up the presidency to someone else with more experience and get out of town. Even Joe Biden couldn’t hurt us any more than Barak Obama has already done. On the heels of GM going under, the president should re-consider his position and tell Michelle the truth for once, “It isn’t working, dear. I can’t fix the economy with money.”

Check out this blog at Don White Portfolio now. A must read.

>Obama Should Turn In His Key To The White House

>I wrote a blog today that bluntly said Barak Obama should get out of town. He should turn in his White House keys, give up the presidency to someone else with more experience and get out of town. Even Joe Biden couldn’t hurt us any more than Barak Obama has already done. On the heels of GM going under, the president should re-consider his position and tell Michelle the truth for once, “It isn’t working, dear. I can’t fix the economy with money.”

Check out this blog at Don White Portfolio now. A must read.

>Obama Wrong: From Gitmo and Autos To The Economy

>Read 5 articles examining the issues and questions raised by conservatives over Gitmo, Obama’s mistakes, where he’s taking us, the dwindling value of our money, spending, and the coming depression …. and high blood pressure.

Go to the blog Getting America Right
http://GettingAmericaRight.blogspot.com

1. “What’s Wrong: Double Talk From Obama and His Minions” by Don White

2. “Obama’s Jewish Problem’ by Joan Swirsky

3. “When Higher Blood Pressure Is Good” by Don White

4. “Obama’s Mistakes: Our Kids Will Pay” by Don White

5. “Obama is Spending Us Into Depression” by Don White

>The Economy Is In Deep Trouble — Read Don White Portfolio

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These are the stories you should be reading:

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>Much Going On In Finland

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 7.4.2009 – THIS WEEK
 Using the Internet to tame the “black dog” of depression

>Overcoming Depresssion In Finland — "The Black Dog"

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Using the Internet to tame the “black dog” of depression

Lapland experiment makes use of videoconferencing

Using the Internet to tame the "black dog" of depression
 print this

By Vesa-Pekka Hiltunen in Rovaniemi
     
      Wartime British Prime Minister Winston Churchill used to refer to his bouts of clinical depression as his “black dog”.
      Helena Hanni from Rovaniemi also has a black dog, in the shape of a labrador puppy.
      Hanni sits at her PC with Lumi the puppy on her lap and laughs aloud at the parallel.
      She has managed to get her other dog, that of depression, under control.
     
Hanni and eight other depression sufferers have just been through a two.month “depression school”.
      The idea of the counselling project is to offer means of warding off bouts of depression in advance and to offer peer group self-treatment under the guidance of mental health professionals. Read More of this story.

>Get A Peak At The Future Of Money

>The G-20 meetings taking place in and around London are not giving us the real story. While President Obama is hobnobbing with rulers and presidents of the world’s most financially — I was going to say powerful, but changed my mind — invested countries, his secretary of the Treasury, Tim Gaithner, is meeting in back rooms with his counterparts from those 20 nations.

And the topic is something that could hurt you financially unless you are prepared with enough assets, food, clothing, gold and housing that you don’t have to rely on money in the bank which won’t be worth too much, anyway. Experts think gold could go up to $5,000 an ounce. Wow!

Larry Edleson is touting gold — because the entire world wants to get off the dollar and create a new currency backed by the International Monetary System and a dollar won’t be worth much.That’s why Obama is depreciating the dollar with all of his targeted spending — outrageous spending, in fact.

If we were all smart, we’d stock up on commodities so we could live for a year without having to go to the grocery store. We’d own our homes so we don’t have to try and pay it off with those inflated dollars, or would you? No, come to think of it. Inflated dollars are fine — in fact if you owed $400,000 on your mortgage and a dollar became worth only a penny, .01 then everything you had to buy to subsist would be out of sight, but fixed debts could be paid off quicker with these cheap dollars. The ones who would be hurt would be those owning property that they thought they would sell — because everything will be different.

Here’s the report, and you decide who’s better off:

What you won’t hear much about, though, will be the secret meetings hidden from the media to forge a radical overhaul of the world’s monetary system.
Attendees at the G-20 meeting will strive to wipe the world’s debt ledgers clean.

The real goal of the G-20 meetings: Creation of a new financial order based upon drastically new units of paper or fiat money to help wipe the world’s debt ledgers clean.

How? By systematically and progressively devaluing existing currencies, especially the U.S. dollar, and re-inflating ALL asset prices.

If the plan shapes up as I think it will, my current target for gold of $2,270 could turn out to be ultra-conservative. Depending on how the new currencies are structured, we could ultimately be looking at $5,000 gold … or even higher!

Over the next few weeks, I recommend you keep your ears tuned to the media for phrases like “new financial architecture” … “new monetary system” … the “rules of the game” … “Bretton Woods II” … and other financial speak. They are essentially the cover words that will ultimately spell a dramatic change in the value of money.

And while the planning stages will occur behind closed doors, already the public cries for a seismic shake-up of the world currency structure are becoming louder and louder …

French President Sarkozy recently declared, “We must rethink the financial system from scratch, as at Bretton Woods” … and that it’s time to “change the rules of the game.”

British Prime Minister Brown touts “a new global financial order,” describing this as a “decisive moment” for the world economy to adopt a “new Bretton Woods.”

European Central Bank council member Ewald Nowotny calls into question the “centrality of the U.S. dollar” and further states that the U.S., Europe, and Asia are developing a “tri-polar global currency system to replace the current dollar-centric reserve structure with more centers of gravity.”

At the recent World Economic Forum, Russia’s Prime Minister Putin explains that “Excessive dependence on a single reserve currency is dangerous for the global economy.”

The People’s Daily, the official newspaper of the Chinese Communist Party and the unofficial mouthpiece of the Beijing government, warns of the threat of a “financial tsunami” and urges action. “The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States.”

On March 19, the United Nations Commission on Reforms of International Finance and Economic Structures, chaired by the 2001 Economics Nobel Prize-winning economist, Joseph Stiglitz, recommended that the dollar be replaced as the world’s reserve currency.

On March 23, the People’s Bank of China (PBOC), China’s central bank, proposed replacing the U.S. dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.

Changing the value of a currency is nothing new. Government officials have talked the talk before. Treasury Secretary Donald Regan floated the idea in response to the Latin American debt crisis in 1982. The next year, when the French franc nosedived with three successive devaluations, it was President Francois Mitterrand’s turn to call for “a new Bretton Woods.”

Then, spurred by the emerging-market financial troubles of 1997-98, British Prime Minister Tony Blair opined, “We should not be afraid to think radically and fundamentally … We need to commit ourselves today to build a new Bretton Woods for the next millennium.”

In the past, whenever an international financial crisis crops up, authorities in high places have often referred to a new Bretton Woods “solution” (i.e., changing the value of paper money).

This time, though, given the Great Depression II, it looks like the current generation of leaders is ready to walk the walk. Indeed, they may have no other choice.

Historical Background:
The First Seeds of Major Global Currency Tampering —
The 1933 London Monetary and Economic Conference

The concept of changing the world’s monetary system to wipe bad debts clean and to start anew with a fresh ledger or balance sheet, if you will, is not new.

It dates back to Roman times when emperors successively devalued the Roman denarius to wipe out debts and spark asset inflation.

More recently, emerging economies have engaged in chronic currency devaluations to deal with their mountains of debt. But surprisingly to most analysts, the industrialized world has also tried to “change the rules of the game,” which is central-bank speak for altering the value of paper money.

And interestingly, the most famous historical precedent — almost an exact analogy to today’s emergency G-20 meetings — was a little-known but critically important meeting in 1933, called the London Monetary and Economic Conference.

At the depths of that Great Depression, the world’s leading economic ministers met to find a cure for the global depression … just like they’re doing today.

But when finance ministers, central bankers and government leaders met in London to work out a plan, President Franklin Roosevelt changed his mind at the last minute and refused to attend. By most historical accounts, he had decided that there was no time to bicker with other nations and that action needed to be taken immediately.

>World Economy On Brink of Collapse

>by Don White

World leaders are suddenly realizing the global economy is sinking many times faster than expected.

Yesterday, the World Bank abandoned all attempts to sugar coat this crisis. In a shocking report, the global institution warned that the world economy will shrink for the first time since World War II and that industrial production will plunge a staggering 15% — a global depression reminiscent of the 1930s.

Last week Britian’s prime minister, Gordon Brown, came to their closest ally, America, and suggested politely that Obama may want to consider organizing some kind of global monetary attack to forestall the absolute collapse of nations financially.

I think this caught the president and his treasury secretary off guard. They haven’t the slightest idea — or resources– of how to “bailout” America, let alone the world. The Obama administration has been playing “catch up.” Every move they’ve made so far has failed because it’s either not enough or too late. At least, that’s the liberal view of things.

But conservatives believe he has gone way too far. Indeed, if it takes ten or fifty trillion dollars, that is way out of bounds, say anyone concerned with the welfare of our children and grandchildren who will have to foot the horrendous bills Obama and his secretary of treasury, Patrick Gaithner, have concocted to alleviate problems. So far, the only thing they have done is to make matters worse. What we have here is a gas fire. No amount of water will help. In fact it will make the fire spread and become more destructive.

Consider what’s going on in the major banks today and the news is all pessimistic across the globe:

* The Asian Development Bank reported that more than $50 trillion in invested wealth vanished into thin air last year.
* Superstar investor Warren Buffett warned on CNBC that the U.S. economy “has fallen off a cliff” … is “in a shambles” … and that we are experiencing “close to the worst-case scenario.”
* The feared “D” word has spread swiftly through the news media, as the reality of depression finally sinks in.

I believe the only way to corale this financial mess we’re in is to stop spreading the “fire” by spending money. We should have let the GMs, AIGs, Bear Sterns, City Banks, and any other insolvent company go under. It’s as if we’re at Yellowstone Park during a fire. There are conservationists, real smart scientists, who believe trying to put out a forest fire is not smart. Like forests, economies need “fires” to clean out the incompentent failing companies — companies that have not earned the right to exist. The problem with us is the Democrats have no stomach for putting more union employees on the bread lines.

At the same time, they have no conscience or qualms about letting Peter pay Paul — asking American taxpayers, many of whom make far less than their union brethren, to bailout car companies where union workers have huge benefits and salaries almost no other blue collar workers enjoy.

President Obama should sit down with John Key, New Zealand president. He says his country tried to spend it’s way out of a financial crisis a few years ago and it didn’t work. Nations who do this always fail, he says, citing the Great Depression and how Europe was able to overcome the world depression far faster than in the US where President Roosevelt used the same tactics Obama is trying. Why can’t we learn from the past. Those who fail to heed lessons of the past are destined to fail. Who said that?