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<DIV><FONT size=2 face=Arial>You.must.be.shitting.me.</FONT></DIV>
<DIV><FONT size=2 face=Arial></FONT> </DIV>
<DIV><FONT size=2 face=Arial>lol.</FONT></DIV>
<DIV><FONT size=2 face=Arial></FONT> </DIV>
<DIV><FONT size=2 face=Arial>thanks</FONT></DIV>
<BLOCKQUOTE
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<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="FONT: 10pt arial; BACKGROUND: #e4e4e4; font-color: black"><B>From:</B>
<A title=brussel@illinois.edu href="mailto:brussel@illinois.edu">Morton K.
Brussel</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A title=ewj@pigs.ag
href="mailto:ewj@pigs.ag">E. Wayne Johnson</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Cc:</B> <A title=peace-discuss@anti-war.net
href="mailto:peace-discuss@anti-war.net">'Peace-discuss'</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Wednesday, November 17, 2010 1:36
AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [Peace-discuss] China Scorns
US Funny-Money</DIV>
<DIV><BR></DIV>Wayne, I thought you would enjoy this remarkable video:
<DIV><BR></DIV>
<DIV><A
href="http://www.youtube.com/watch?v=PTUY16CkS-k&feature=share">http://www.youtube.com/watch?v=PTUY16CkS-k&feature=share</A></DIV>
<DIV><BR></DIV>
<DIV>Others may too.</DIV>
<DIV><BR></DIV>
<DIV><A
href="http://www.youtube.com/watch?v=PTUY16CkS-k&feature=share"></A>--mkb</DIV>
<DIV><BR>
<DIV><BR></DIV>
<DIV><BR>
<DIV>
<DIV>On Nov 16, 2010, at 8:11 AM, E. Wayne Johnson wrote:</DIV><BR
class=Apple-interchange-newline>
<BLOCKQUOTE type="cite">
<DIV text="#000000" bgcolor="#ffffff"><FONT size=3
face="Times New Roman, Times, serif">"...</FONT><FONT size=3
face="Times New Roman, Times, serif">there was an uncommon flash of common
sense in Washington last week. A special bipartisan presidential panel on
reducing the national deficit proposed $4 trillion in federal spending
cuts.<BR>All political sacred cows were targeted. The biggest: the monstrous
$700 billion military budget. A third of US worldwide military bases would
close. There would be cuts to social security, mortgage deductions, delays
in retirement age, an end to politician’s local pet projects. Taxes would
rise. The howling has already begun. Unfortunately, such unpopular,
drastic spending cuts seem highly unlikely, particularly in the new US
Congress where Republicans and Democrats will be deadlocked. America would
need an economic dictator to implement the panel’s full plan.<BR><BR>China
has one – the Communist Party. America does not and is rudderless. More
empires have been undone by financial collapse than invasion or battlefield
defeats. The once mighty United States is staggering in this
direction.</FONT><FONT size=3 face="Times New Roman, Times, serif">
"<BR><BR><BR>China Scorns US Funny-Money<BR><BR>by Eric Margolis<BR><A
href="http://www.lewrockwell.com/margolis/margolis214.html">http://www.lewrockwell.com/margolis/margolis214.html</A><BR><BR><BR>One
day, the emperor of ancient Babylon summoned his treasury overseer and
exclaimed, "I need more money to wage war on those filthy Hittite
terrorists!<BR><BR>"But I looked in my great treasure chest and it’s nearly
empty. There are hardly any gold coins left," he thundered.<BR><BR>"Oh Light
of the Euphrates," groveled his terrified minister, "we are out of gold.
Your wars have become too expensive."<BR><BR>"But I have a solution, your
celestial greatness. We will quietly trim the amount of gold in our imperial
gold coins to make them go further. No one will notice."<BR><BR>Fast forward
to Washington, 2010. It’s no longer called "clipping coins." Today, the name
for debauching a nation’s currency is called "quantitative easing(QE)," but
it’s still the same old fraud committed by financial flim-flam
men.<BR><BR>Washington is flooding financial markets with $600 billion of
worthless dollars, hoping a rising tide of Monopoly money will somehow lift
America out of recession. The Fed’s first QE effort was a fizzle. Welcome to
QE2. In high finance, hope springs eternal.<BR><BR>The US government is
stoking worldwide inflation in order to lower its outstanding debt by
repaying creditors with depreciated dollars. The rest of the world is
boiling angry at Washington.<BR><BR>Just before last week’s G20 economic
summit in South Korea, China’s state credit agency publicly downgraded
America’s credit rating and questioned US leadership of the world’s
economy.<BR><BR>In an unprecedented, stinging rebuke, China scolded
Washington for "deteriorating debt repayment capability," and predicted
quantitative easing would lead to "fundamentally lowering the national
solvency."<BR><BR>This was a real slap in the face heard around the globe –
particularly coming from a bunch of commies! China is the largest holder of
US government debt.<BR><BR>I remember the day when my father, a New York
financier, used to sneer at iffy stock or bond issues as, "Chinese paper."
Now, it’s "American paper." How the world has turned.<BR><BR>Washington has
been blasting China for manipulating its currency to keep the value low –
which is quite true. Embarrassingly, Germany and Brazil just accused the US
of being as big a currency manipulator as China – which is also quite true.
The EU refused to join the US in alone blaming China for world financial and
currency instability.<BR><BR>A depreciated dollar boosts US exports and
hurts nations exporting to the US. Economists call it, "beggar thy
neighbor," a destructive trade practice that played a key role in the 1930’s
world depression.<BR><BR>This money flood is eroding the value of the
dollar, the world’s premier medium of exchange. In the past two months, the
US dollar has dropped 6% against other major currencies. Frightened
investors are piling into gold, now up 17% in 60 days.<BR><BR>The Obama
administration, just "shellacked" by voters in mid-term elections, and
desperate to lower unemployment, is gambling more debt shock therapy will
spark the economy back to life. But massive, unsustainable debt caused the
US financial meltdown in 2008.<BR><BR>The US public debt has hit a
stratospheric $14 trillion. You don’t treat a poisoning victim with more
poison. Spending one’s way to prosperity with borrowed money is a dangerous
chimera.<BR><BR>But panicky politicians are ready to try any sort of
economic snake oil remedy to save their skins. Before 2007, America was
living high on phony financial froth. Finance had become America’s leading
business. Those days are over but no one dares to tell the
voters.<BR><BR>Besides destabilizing world exchange rates and trade,
Washington’s money flood is pouring into emerging markets as American
investors seek higher returns than the miserable pittance available at home,
creating highly volatile capital flows.<BR><BR>The so-called financial
rescue package brought in by Presidents Bush and Obama have been a bonanza
for Wall Street and the banks, and a catastrophe for savers and ordinary
citizens.<BR><BR>During the 1980’s, we saw fragile Asian economies battered
as investment from the US flooded in, then out. This is happening again,
boosting currencies of many nations, making their exports uncompetitive.
Investments barriers are going up from China to Brazil.<BR><BR>President
Barack Obama inherited a horrible mess from the Bush administration.
However, his wrongheaded economic response is undermining the world’s
economic order. A nation’s currency is more a symbol of its strength and
good name than its flag. Running down the US dollar, which ruled world
finance since 1945, could mark the beginning of the end of the American
era.<BR><BR>That’s what the American delegation to the G20 economic summit
in Seoul, South Korea and Yokohama, Japan, heard last weekend. Obama’s
economic policies, notably his attempts to stimulate the US economic with
the steroids of more deficit spending, were roundly rejected and criticized
by other G20 members. No decisions were reached on exchange
rates.<BR><BR>However, there was an uncommon flash of common sense in
Washington last week. A special bipartisan presidential panel on reducing
the national deficit proposed $4 trillion in federal spending
cuts.<BR><BR>All political sacred cows were targeted. The biggest: the
monstrous $700 billion military budget. A third of US worldwide military
bases would close. There would be cuts to social security, mortgage
deductions, delays in retirement age, an end to politician’s local pet
projects. Taxes would rise.<BR><BR>The howling has already begun.
Unfortunately, such unpopular, drastic spending cuts seem highly unlikely,
particularly in the new US Congress where Republicans and Democrats will be
deadlocked. America would need an economic dictator to implement the panel’s
full plan.<BR><BR>China has one – the Communist Party. America does not and
is rudderless. More empires have been undone by financial collapse than
invasion or battlefield defeats. The once mighty United States is staggering
in this direction.<BR><BR>November 16, 2010</FONT>
</DIV>_______________________________________________<BR>Peace-discuss
mailing list<BR><A
href="mailto:Peace-discuss@lists.chambana.net">Peace-discuss@lists.chambana.net</A><BR>http://lists.chambana.net/mailman/listinfo/peace-discuss<BR></BLOCKQUOTE></DIV><BR></DIV></DIV></BLOCKQUOTE></BODY></HTML>