Any govt that loses the trust of its people would be shown the exit door in a general election. New Zealand's Jacinda Ardern seems to be preempting this and has resigned prematurely. Is that the real reason, or is she being forced to resign by unseen hand for her neutral policy for not taking sides in the American hostile behaviour against China? The report that Jacinda Ardern's popularity vote has fallen could be just a red herring.
The country that has lost the most trust in the world is the USA. The words of American leaders are now seen as farting, smelly and noisy and untrustworthy. They have broken many international agreements and flushing them down the sewers like toilet papers. No country is going to trust the words of American Presidents and leaders. They have walked away from international organisations and international obligations like the TPP, Climate Change, the Minsk Agreement, nuclear agreements with Iran, and refusing to be signatories of major UN laws and regulations like UNCLOS and resolutions against the sanction of Cuba.
American dollar as an international currency is also losing trust in the world when the dollar is being weaponised. In addition, the Americans are behaving like rogues, mafias, gangsters in seizing money of countries and their nationals left in American and allied countries' banks arbitrarily with the flimsiest and unjustifiable excuses. The combination of both factors have led to a 'bank rush' against the US dollars. Countries are starting to dump US Treasury Bills for fear of a declining and eventually worthless dollar as well as fear of being seized by the Americans.
The world is also coming to terms with the prospect of the Americans failing to honour their debt. The reckless printing of the dollar and building up of American debt to more than US31 trillion is a sign that the Americans did not intend to repay their debt. They are deep in debt but still printing money to fight wars and publishing propaganda. As such, countries are also shunning away from buying American Treasury Bills when the risk of default is as good as guaranteed.
Everything associated with the Americans or coming from the Americans are no longer trustworthy. The lies of the effectiveness of American mRNA vaccines are now open secret backed up by American statistics of hundreds of millions of infection on Americans that had been vaccinated with the vaccine. This does not include the hundreds of millions of non Americans that were infected using the mRNA vaccines, once touted as 96% efficacy. And the situation is getting worse. Biden is going to reintroduce mandatory masks and more boosters. What else can the Americans be trusted?
And they are lying everyday using the major American media to print lies daily about wars, about threats about enemies, about how they are winning the war in Ukraine against the Russians when they are losing, about Covid virus when all signs and fingers are pointing at the Americans as the originator of this deadly virus. Despite all their lies to accuse China as the originator of the virus, wanting to pass the buck to China, more and more eminent Americans are saying out loudly that it was the Americans that created and spreaded the virus to the world with convincing evidence to prove their case.
Americans as a people, especially their political leaders, have the word 'LIE" written all over their faces. Remember the shameless admission by Michael Pompeo, the ex CIA Director and ex Secretary of State proudly saying in Congress that 'We lie, we cheat, we steal and we kill'? And he is wearing that as a badge of honour!
The Americans still believe that they can lie and lie and the world would believe them. They even allocated US$300m annually for the next 5 years or US$1.5b in total, to fabricate lies and propaganda against China and Russia without batting an eyelid, arrogantly going about it as an American way of life, way of lies in conducting international relations. They are not called the Empire of Lies for nothing.
Good morning All
ReplyDeleteNow Jepun one of the most wagging doggie and socalled strongest ally to their Master with her most Unworthy United Stupidity Debts Holdings had sold the most of them besides China.
What's nonsense Ally when your country's wealth and survival is threatened no more ally.
Those in league with the UAssA are now in a dilemma to be for them or against them as Ally or Foe.
Many imbeciles would be too scared to offend them as they are the vengeance ones who will create chaos for you when.they are in their strong position again.
Heavens better blessed Sinking Land as one shot kaput will sink forever with her reserves been wiped out being a loyal puppy.
Just to add cannot stop sniggering when saw today's ST'S article that the Little Brit will help SinkiesLAND with making Chips!
ReplyDeletePotatoes Chips they meant?
Little Useless Brit have AI Chips meh?
Potatoes Chips?
https://youtu.be/M4jYLYo1Ip8
ReplyDeleteI only know that this has been Empire has Fish and Chips. As for computer chips, I don't know got people want to believe in them or not.
ReplyDeleteWhen they have nothing else to sell, they may fall back on selling Fish and Chips, or the loots in their Museums of Thieves and Robbers.
Beware of Japan,the US dog is bringing war
ReplyDeleteto Asia
Unfortunately daft sinkies still trust that the papies will give them more good years..
ReplyDeleteThis rabid dog had committed untold numbers of heinous crimes against humanity. It must be terminated for good.
ReplyDeleteJapan, like the USA, has no way out of their oncoming financial armageddon, and war is their only untested salvation. But that mentality of being able to rise from the ashes only holds true in the past, when China was weak, poor and broken by civil war. Then the whole world was drunk in the propaganda of democracy is good, communism is bad. Now, the tide has turned and the proof of the pudding is in the eating.
ReplyDeleteWhich system runs best can be seen with China, Russia and Vietnam rising and showing the world that communism is not loosing the race. And what the world sees in the USA democratic system falling apart is a lesson they must learn to differentiate wisely. The Africans clearly have already probably seen it, warts and all. And the rise of China, Russia and Vietnam was ongoing despite all the propaganda unleashed against the communist system. Nevertheless, the West is now actively trying to stifle Vietnam, as its rise mirrors China.
Both, USA and Japan, or master and slave, are so deep in debts today, that there is no way of changing their course heading towards disaster, except the thought that only war can do it. Japan, tried all kinds of tweeking and stimulation, but still remained bogged down in stagnation over the last twenty years or more. Even Abenmonics, the highly touted game changing move that they shouted about so loudly just years ago, failed miserably. Just forget about the Kishidomics hot air being able to succeed. Even Confrontomics against China is not going to save them. It could even sink them for good.
And the USA, with US$31 trillion in debt, having to perform the usual soap opera of raising of their debt ceiling every now and then, and with US$ quadrillions of derivatives swimming in the books of the big banks, with all the money generated therefrom mostly invested and propping up Wall Street, new property launches galore that only the super rich can afford to buy, to rent out at exhorbitant rentals beyond the reach of the ordinary workers, supporting the Pentagon with ever more funding, fighting wars on more fronts, supporting their almost a thousand military bases worldwide, maintaining their military logistics and their military personnel as well.
But one thing misses the eye of most onlookers outside and seldom highlighted on MSM - the crumbling infrastructures, homelessness and drug addictions, which were seldom or never discussed or debated inn Congress, except on social media. The world is still fed the propaganda that the USA is still the richest country in the world, the land of plenty, gold paving the streets. Look deeper and they will see the oncoming runaway train approaching.
All the white countries, including Japan, grew rich by robbing their colonies with free labour, loots and free resources. Japan robbed Korea, the European colonial powers robbed their colonies all over the world, dividing Africa among themselves. America robbed the whole continent of North and South America.
ReplyDeleteWith robbing and looting, they could not sustain their good lives. The Americans at the moment is still living on printing toilet paper as money. Once the world stopp accepting their toilet paper, it will be the end of the story.
Yellen begging China to buy more T bills so that they can pay for their military bases and warships to attack China and conduct wars. Would China be that stupid to continue buying T bills for the Americans to attack China?
Now that the whole world has seen how the USA is misusing its US$ hegemony in ways that was never envisaged, they will slowly realise that this is not the way forward. That is why, even if de-dollarisation is not immediately apparent in speed, it will accelerate as trade develops outside of the hold of the US$. If it can be done with the British Pound, it surely can be done with discarding the US$ as well.
ReplyDeleteWhen that happens, and it will have to happen, the dumping of US Treasuries will be tsunami like, not just in trickles. That will see the US$ really descending into near banana status. Right now, the USA is fighting the US$ battle only in mainly the oil trade, but it will expand to trade done in other commodities, slowly and unapparently obvious it may be.
Yes BRICS may only be an economic gathering to fight the evil US$ hegemony, and certainly not a military alliance. But everything is tied to money - energy, military expenditure, infrastructure, trade and settlement system. And there has to be an alternative to the US$ hegemony and the SWIFT system, to be fair to every country around the world, not just one country capitalising and having a free ride on everyone. No two ways about that!
When China suceeds in being self reliant on computer chips, do not laugh that the USA and the West, including Taiwan, Japan and South Korea will have to sell potato chips to each other. TSMC, Intel, Samsung and others can just compete with each other outside of China.
ReplyDeleteRed Dot getting British help in chip manufacturing is not really a good idea, especially if Red Dot is eyeing the China market. Going alone is more reliable. Any ban on chips made in Red Dot, using British technology or components can be used as bargaining tool later by the USA and the West. Not everything that Red Dot embarks on is always a winning venture. It could backfire badly, like FTS among others earlier. But anyway, that is just other people's money. If the venture succeeds, someone gets the credit. If it fails just write it off like FTS.
The chip market is going to crash as there is a huge surplus and China is not buying. The prices have hit rock bottom. Mobile phone chips would be flooding the market as the mobile phone sales has peaked and flattening, if not shrinking.
ReplyDeleteChina would be fully self sufficient in chips in a couple of years, already self sufficient in the bigger nano chips. When that happens, not only China is not buying, China would be net seller and the chip prices would go down further. All American made chips cannot compete with China on price because of the huge gap in cost of production.
TSMC, Qualcomm, Intel, Nvidia etc etc would have more computer chips to sell than potato chips but where are the buyers without China buying?
China and Japan only need to dump another US$200b each and that would trigger an avalanche in selling of American bonds and dollars. And there will be few takers when everyone is dumping. It would be just like a reverse bank run, all selling. Many would not be able to sell by then. Who would want to buy a falling asset that is going to turn to zero?
ReplyDeleteWhen countries start to trade in non dollar currencies, it is as good as saying, without saying it, that they don't need and don't trust the dollar anymore. The American dollar would turn to waste paper very soon. The trust is gone, the value will also be gone.
Then we will see how the Americans find the money to pay their soldiers and their foreign bases. Very likely every American soldier would be paid a couple of hundred thousands monthly but cannot buy anything. American dollars not accepted.
If China dumped the treasuries, they will get US dollars. What will they do with that?
ReplyDeleteIt will be interesting to see the Treasury Data figures for December, 2022.
ReplyDeleteFor China, buying US Treasuries now is a big risk and I doubt China will still buy. The trust is gone and there is no guarantee that the USA will not resort to seizing Chinese Treasury holdings and other US assets like they did to Russia, Afghanistan, Venezuela and Iran.
Even Saudi Arabia is deadly cautious after officially stating openly that they will accept any currency as settlement for oil. That is a very clear and important statement, mostly ignored by the MSM, that they are moving away from being held hostage by the USA in conducting the oil business with China in particular, their largest customer, in Yuan.
With that move by Saudi Arabia, other Arab states are bound to follow, and Iran and Venzuela are not going to stand idly by. Russia is already not accepting payments in US$ and Euro for its energy. And it is working. If it works for Russia, why not for others.
Any conflict arising between USA and China will cripple the Chinese in energy supply, if only the US$ were to be used for settlement by China. The USA and allies had even been planning a blockade of the Straits of Malacca against Chinese oil and other trade activities in the event of a conflict.
But China already knew what is in the evil minds of the USA, and that is why China started the BRI through Central Asia to mitigate the possibility of that happening. Now, with energy from Russia, cheaper by the dozen, the choke thought of by the USA and its allies is not that a strategic move after all. And with China diversifying its energy needs into investing in renewable energy source, the choke slam is going no where.
What did Japan do after dumping US Treasuries? The bought their own domestic bonds. Japan do not have that much avenues to invest those US$ overseas. And they used some to prop up the sinking Yen.
ReplyDeleteChina has many avenues to invest those US$ after dumping Treasuries. Everyone knows China is investing its huge accumulated trade surpluses over the years, converting them into loans to poorer countries to build infrastructures. The whole of Africa is still far from being developed in terms of infrastructures.
The potential for China to invest more in Africa is not lost on the minds of African leaders. They want those infrastructures, which is their passport to progress and uplifting people's lives. Building homes will be another area of investment that will be in demand. That is just talking about Africa. Ever wonder why the USA and the West is so interested and talking about helping Africa after all those decades of stealing from them? But I believe the Chinese will shy away from rebuilding Ukraine for sure.
Suffice to say, these loans to countries are much safer than holding US Treasuries, that could be stolen at the whims and fancies of the evil state. Give or take a few defaults, but certainly worth the risk to take. Chinese built and funded infrastructures in other countries cannot be stolen or taken away, like the Pyramids of Egypt. Even a small kid knows the reason why those pyramids still remain in Egypt. The Chinese are no small kids.
So, what do you think the Chinese will do with all those US$ after dumping treasuries? They are not as stupid as we think.
Right Anon 2.41
ReplyDeleteWhy the Pyramids are still in Egypt?
Answer: Because they are too heavy to be carted or stolen away by the Anglo Saxons and their White Thieves and Robbers.
Whatsoever they can Rob and steal they will carted away in exchange of their Bibles.
Cheers
I read this article and it makes sense. Doesn't seem logical that China can sell everything and switch. African countries are not good debtors. https://www.npr.org/transcripts/1119126863
ReplyDeleteChina is buying gold everyday with its spare cash.
ReplyDeleteIn the case of Africans not paying their debt, China has forgiven many debt that they knew some African countries could not repay. They lost some money in these cases but got goodwill and make more African friends.
A good example was Sudan that refused to give its projects to any western country but China.
When China built the Saudi Mecca Median railway, it lost US$400m for underestimating the difficulties in the project. The Saudis appreciated that goodwill and gave China more projects to recover the losses. China is now building the Line City for Saudi Arabia costing US$319 billions just for the first phase of construction.
The big issue is the trust on US$. When the trust is gone, it is not just the dumping of US$ treasury debt but also not wanting to use or accept US$.
ReplyDeleteThe other interesting point to note, total US$ in circulation is about US$2 trillion! The rest, US$31.4 trillion debt, T Bills held by foreign countries eg US$990b by Japan, US$880b by China are just numbers on paper. Just wondering where would the US find the real fiat money to pay when total fiat money in circulation is about US$2 trillion?
The USA debts can never be repaid. Impossible! Not in a thousand lifetimes. Just numbers no doubt, but when the shit hits the fan, it matters. Japan and China's deleveraging on US Treasuries in measured tone, is already causing concern to Yellen. She said so herself.
ReplyDeleteChina is not selling everything and switching. China is just downsizing its holdings. The risks of holding too much are not strategic. Not when the USA is itching to confront China on all fronts.
Africans may not be good debtors, but losing some eggs in a basket, of just tens of billions, is nothing worse than losing the whole basket of close to a trillion. Which is the bigger risk and which is the better option going forward?
They never want to talk about the US$ quadrillions in derivatives hanging in the books of the big banks. The whole house of cards, is bound to collapse when one pillar, supporting the derivatives ponzi, collapses. Just the stock market or property sector going under will undermine the whole scheme. Or the US$ losing it global status and countries de-dollarising in tandem. Who is going to support the US$ then?
ReplyDeleteThat's true. If the debt owed to China and Japan are so small, percentage wise, why should Yellen be so worried that China and Japan are selling down? Small change, no impact on the American dollar or economy?
ReplyDeleteThe derivative crash would crash the whole international banking system.
ReplyDeleteBanks are supposed to be prudent, cautious, not over leveraged, not taking high risk. But greed has allowed them to blow this bubble to a size of many nuclear bombs.
If it goes off, there is no escape. It is the biggest Ponzi scheme in history.
Not only the banks are reckless, the governments also just as reckless or did not know how to control this bubble, did not know how to control the bankers.
If what I read is true, that meeting called by Janet Yellen with Liu He was really about asking China to help the USA overcome the present financial crisis. That upends the whole horseshit of the USA wanting to decouple completely from China without consequences.
ReplyDeleteChina should not, and must not help. China did help the USA during the Lehman Brothers collapse and near meltdown of their financial system. And what did China get in return today? Think about that!
The Americans are going to send McCarthy to Taiwan to repeat the Pelosi act. And still dares to beg China to help in their financial crisis. And selling more weapons to Taiwan, supporting independent movement.
ReplyDeleteThe USA is so desperate, it behaves incoherently, not understanding between simple right and wrong.
ReplyDeleteAnd shamelessly, or not understanding the meaning of shame, still thinks that they will get help from China after antagonising them with Pelosi's visit to Taiwan and now McCarthy going as well.
Oh, not to forget, they did proudly proclaimed that they lie, cheat and steal. So it goes with their character. They cannot change. And China must therefore change by not extending any more help. Logically, China's help to USA is also being utilised to sending more weapons to Taiwan. It is not right.
https://youtu.be/anWyMsFKvfo
ReplyDeleteChina sells 101.8 Billion U.S Treasuries Failed Debt Ceiling.
The sell off of Treasuries Bills means the US would have to take back their IOUs and pay the sellers, ie creditors, hundreds of billions every month. And when this continues and ramps up, where is the US going to find the money to pay back when it is already bankrupt, no money left?
ReplyDeleteOh, print, print and print more fiat dollars. What would that ends up with?
Hi Anon 8.44
DeleteJanet Yellen aka Yelling told that Bidamn and his Imbeciles both same cheeks of the same Arse that they have only 44 billions left.
Now the Republicans wayang and put on a charade why we have 31 plus plus Trillions Debts?
They don't know meh. Also in the same sane or insane Congress and Senate together all the Donkey and Elephant in the Room Years.
Passed every Bill together of Uplifting the Credits Ceilings.
Now the Ceilings gonna collapsed on them and they start yapping why spend so much?
Hello your own Republicans also so many terms before the Democrats already accumulated all these debts because once elected you all on Auto Pilot and went round with so called Classified Documents to threaten and blackmailed those countries under your mercy for corrupted easy monies into your own pockets.
Saying we have these info and that info that will affect you and you better cough out monies for protection.
Like Mafias and Gangsters and why so many billions spend?
It's because you imbeciles are feeding your damn parasites militaries that chai pak just pan sais and are even useless than those peasants that even worked to feed the world.
You have all these parasites upkeep gangsters just to threaten the weak to feed your sloth and gluttony lifestyles.