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US ‘Empire of Debt’ will go to war to stop emergence of petro-yuan

Photo Paul Yeung/Reuters

RT Reports:

The imminent introduction of oil trading in yuan is a very bold move by the Chinese, because the US will not give up the basis of its hegemony – the dollar as the world’s reserve currency – without a fight, Max Keiser, host of RT’s financial program ‘Keiser Report’ has said.

The Chinese plan to roll out a yuan-denominated oil contract before the end of this year is a very brave move, since countries who “tried to exit the oil-dollar matrix have met terrible ends,” Keiser pointed out.

“Saddam Hussein wanted to trade oil in Euros and he was killed, Muammar Gaddafi wanted to trade his energy in something other than the US dollar – he was killed,” Keiser said.

China, however, has the resolve and the resources to pull-off the de-dollarization, and besides, it’s backed by several major countries which are “resistant to America’s financial cartel,” namely Russia and Iran, Keiser said.

“Kudos to China for taking this project on and of course they are rumored to be a big buyer in the Aramco offering of their state oil facilities coming down the pike,” Keiser said, referring to the anticipated sales of shares in the Saudi Aramco state oil company.

“This makes sense, geopolitical sense, in terms you’ve got China and Russia and the Saudis looking to escape the US dollar, US dollar hegemony.”

Saudi Arabia was pushed to the de-dollarization crowd only recently by the US itself, which, last year, allowed survivors and relatives of the victims of the 9/11 attack to sue the kingdom over its alleged role in the terrorist acts, Keiser stated.

“There’s decently motivation for the Saudis. They want to float Aramco, they are deeply in debt and they are running out of cash. And they wanted to do an APO [alternative public offering] of Aramco either on London or American exchange, but they prevented from doing so from the legal actions of the 9/11 survivors, who rightly pointed at Saudis as the cause of 9/11,” Keiser noted.

Countries worldwide are tired of funding the America’s “military adventurism by being a party to the ‘Empire of Debt,’ as it’s known around the world – the US dollar,” and therefore, will likely join the de-dollarization movement, Keiser said.

The US financial sector and its military-industrial complex are unlikely to give up the dollar hegemony without a fight, though, as the dollar is both the basis and the main product of America. And the US will use its other favorite tool for it – war, Keiser believes.

“Maybe they will start a war between Japan and China, and maybe they will start a war with North Korea. America will do anything to keep the US dollar as the world’s reserve currency,” Keiser said.

“They will invade the countries, like Afghanistan, they will stop at nothing. Because this is the basis of the US empire. It’s not land-based, it’s not based on material goods, it’s based on rent-seeking. It’s based on landing dollars, getting out income and when countries can’t pay they dismantle the assets and take them over. We saw it in Latin America, South America, this is how America built its empire.”


 

84 Comments

  1. John Watwood says

    Yes, but it isn’t just America that is doing this. It is also the UN and it’s IMF and BIS. Both controlled by the ‘ruling elite families’. Those mentioned above whom were killed, weren’t killed just backing away from the dollar, they were killed because they wanted their currency backed by gold, and to de-privatize publiclize natural resources. Gadaffi also wanted to set up an African Union, to unite all those countries and the Western kakistocracy couldn’t have that so…China going to a ‘petro’ juan is just enslaving themselves to those whom control most of the world’s petroleum, the same said banking families of the IMF and BIS and WB(World Bank). The US is and has been insolvent since the 1930’s and is endebted to these same banking families and their corporations. Remember, 178 countries signed on to Agenda 21, the world depopulation Agenda. THAT is actually WWIII. Any act of war or aggression is part of that. Where humans and their life support systems are harmed or killed, is in agreement of Agenda 21. That is the true ‘War’ my friends. Check out: StopTheCrime.net, and thecrowhouse.com.

  2. Christopher Barclay says

    If the dollar is to lose its reserve currency status, something has to replace it. Gold? Oil? The latter is particularly unlikely given that it is being consumed and turned into pollution as quickly as it is pumped out of the ground. If the yuan is to challenge the dollar, the control freaks in Beijing will have to let go of it to a certain extent. There is little sign of that happening.

    • Absolutely right: though not a popular POV to share hereabouts. The Chinese policy is toward a basket of currencies: analogous to, or identical with the Special Drawing Rights of the IMF. I linked to the PBOC chairman’s essay below. Russia-China want greater influence within the “rules based international order”: and a seat at the top table with a strong yuan within the currency “basket”. They are fully committed to the WTO rules and “global economic governance” (see BRICS declaration linked below). To do that, as you say, they will have to give up rigid control of the yuan; de-peg from the dollar ; and become a free-floating currency. Something they have shown zero tolerance for: probably because it would destroy their manufacturing base overnight. De-dollarisation by economic suicide does not seem a likely outcome?

    • Thomas Peterson says

      Why does there need to be a single reserve currency?

      • Big B says

        There doesn’t. If it happens: it will be engineered to suit the upper one percent’s centralised control over the banking system. It is the antithesis of that which would suit the people: decentralised local credit mutuals; cooperative banks; lending interest or interest-free local currencies; 100% reserve banking; P2P; LETS schemes; etc. If it ever happens it would be game over for a cooperative socialist future. Which is why I say “shall we cheer and throw flowers for our own funeral”?

      • John Watwood says

        Great question. And there doesn’t. Not for us, but for the kakistocracies there does. Their hierarchy depends on it.

    • John Watwood says

      I believe the next ‘world currency’ will be digital, a blockchain sort of deal with social ‘status’ entwined into it just like China is actually doing. A reward and punishment system, completed digitized and controlled the kakistocracy. The more one puts into the system and is ‘good’, the more one can get. If not, the less. All Countries are actually considered corporations, yet the do not make money, the borrow it becoming bankrupt and insolvent. Ironic there, setting up a governance system that is doomed to fail, to become insolvent to the ‘elite’ few compared to the majority population, is an enslavement system. Individuals make profits, nothing else. Corporations are fronts for individuals behind them, and States(kakistocracies) are the governance system of these individuals.

      • Mikalina says

        On line energy ‘coupons – rewarded or removed according to: the work you carry out for the ‘state’; how many ‘chosen’ youtube videos you watch; how many online mental health programmes you undertake; how many ‘likes’ you get on your blog.

        (Extra coupons if someone in your family ‘commits suicide’? Especially within a ‘state’ sponsored programme.)

  3. Michael McNulty says

    If the dollar collapses the Chinese will still want to buy it. By the ton, to fuel their power stations.

  4. Bal S says

    Dalai Lama = CIA stool pigeon (like Bin Laden, and just as useful for Western revisionists).

  5. Read this article carefully: it is pure supposition interlacing propagandising commentary. It is crude: but reading the comments …nevertheless incredibly effective. The underlying perception management is that capitalist bloc A (the US Imperium) is bad …well true enough …but the incredibly simplistic inference is that capitalist bloc B (Russia-China) is therefore good. That is pure soft propaganda hopium. If capitalist bloc B “de-dollarises” – i.e. cuts the financing to bloc A – the world will be a tianxia bliss-filled harmonious community under a capitalist ‘heaven’. It really worries me if people actually believe this. Fossil capitalism: irrespective of national origin IS KILLING US. It is the enemy of humanity and likely, there will be no future prosperity. Biodiversity preceded capitalism: desertification follows …shall we cheer and throw flowers for our own funeral?

    • George Cornell says

      No one believes it, you can be sure. What people believe is in the necessity of balance.

    • Stephan Flach says

      All true but how do you want to break the grip of each bloc’s monopolies in media and education if you don’t allow the systems to actually enter into a ‘free’ competing market that eventually eats itself up, like we can now observe in the borderline hilarious card house of propaganda concerning Russia and China. We’re at the point where a critical mass stopped believing in the emotional narrative the news present to us. Hence their duly crafted soft power is failing. That’s where all these repressive sentiments, forced vaccinations talk, stripped civil rights, terror laws, surveillance laws etc. come from.
      What ever capitalist bloc will prevail, on the path it will have unmasked both to the broader public.

      • Christopher Barclay says

        The wealth inequalities, the absence of a welfare state, the number of executions, the femicide, the censorship? Is this the communism you are fighting for?

      • Big B says

        BS: the notion the American capital is bellicose and Chinese capital benign is a clever strategy to immobilize the left and weaken its criticisms of capitalism. It is to draw away from a root cause analysis and propose a reverse globalisation alternative. Chinese tianxia rhetoric is clouding our minds: there is no good capital and bad capital – there is only capitalist exploitation and alienation. Chinese capital and American capital don’t separate out: they produce the same net effect. A good example is the part ownership of the eco-terrorist Rio Tinto by Chinalco and Alcoa. Is the part of the corporation that intimidates and murders indigenous peoples and despoils their ancient lands for profit solely Canadian and American: whilst the Chinese capital is purely benign and harmonious? BS. Modern capital flows are trans-national; one could better say supra-national …and analysis of the globalised self-maximising anti-life capital flows destroys the false dialectic of two oppositional capitalist blocs in a moral crusade for world peace. It’s frightening to believe that anyone can be drawn into this false dichotomy. China-Russia are not offering a viable alternative: but a soft-globalist simulacrum. Check out the recent BRICS joint declaration: especially the section titled “Global Economic Governance” …“We resolve to foster a global economic governance architecture that is more effective and reflective of current global economic landscape, increasing the voice and representation of emerging markets and developing economies.”

        http://www.xinhuanet.com/english/2017-09/04/c_136583396_2.htm

    • John Watwood says

      Excellently said BigB. It is all theater. The central kakistocracy the UN is orchestrating all of this to complete a centralized world wide control grid/mechanism. 5G and the IoT and blockchain digital currencies will complete the transformation. And, of course, Agenda 21. The less people, the easier the control. Plus, this system ensures that no one can ever get out and away from it, even the self named ‘elites’. H.G. Wells’s Manifesto to the Elites explains this quite explicitly. Yes, the ‘elites’ or higher ranking members of the hierarchy will have the freedom to rape, torture, and murder at will, but will still be enslaved to the kakistocracy itself, the system itself.

  6. http://letthemconfectsweeterlies.blogspot.se/2018/03/time-tides-and-nature-of-things-dollar.html

    Tides of the Dollar Moon
    A planet to its Star must look
    The planet no less needs its moon.
    As the Sun is the store of energy, New.
    The moon drives and regulates currents,
    of the tides , time and the nature of things.
    That Golden Orb gives all
    That silvery Moon regulates all
    Both work together even as the other
    Seemingly sleeps and yet currents
    of the tides, Time and the nature of things pass.
    On the nature of Man made things
    On a standard of gold which
    Jennings would not be crucified upon ,
    That cross Of Gold-alone hard food of Midas.
    No tides to complement the Orb
    For Silver was its currency,
    the Silvery moon to that crosses Golden Sun
    which means of exchange fed the common man
    The Silver Moon drives and regulates
    Currencies of the tides, Time and the nature of things.
    Time passed and Man forsakes the Golden Orb
    and its silvery moon. No credit he gave
    to drivers of Tides, Time and the nature of things
    Fiat of imperial rule enforces debts,
    new tides in political Economy.

    FIAT dictates the new tides of Commerce.
    Ephors of debt above and astride the law.
    No silvery moon complementary to the Golden Orb.
    There are no tides by means of which the common man
    may be fed. Hard food of Midas alone- Starvation.
    King Kanute Like those ephors
    wave bidding the advancing tide backwards
    Still they advance tides in a tsunami of debt
    Tides of a Dollar moon by fiat
    Hegemonic Tides of the Dollar Moon.
    Roger G Lewis (2016)

  7. rtj1211 says

    Every war the US prosecuted since 1946 saw no fighting on the US mainland.

    About time that changed. Make 300 million Americans know what being carpet bombed feels like.

    Their stomach for a fight will not be there…..

    • George Cornell says

      Maybe that is what it will take to give them the idea that their unemployable unprincipled military might not really be “heroes” after all. The torturers at Abu Ghraib for example.

    • JJA says

      “Their stomach for a fight will not be there…..”
      Your comment reminds me of the scene in ‘In Bruges’ where the Irish hit man hiding out taunts the grossly fat Americans, knowingly pointing out that they are too obese to chase and catch him. Sure enough the American tries for a couple of steps, then gives up, panting heavily.
      With supposedly 40% of the American population obese, which, from my occasional observation is on the low side, they are certainly not in any fit state to fight. The east and west coast elites would never put their own bodies on the line, and the poor flyover land blacks that make up much of the military are already enlisted and spread all round the globe. The US would be a sitting duck.

      • John Watwood says

        I concur. As soon as the UN kakistocracy is ready, the US will be invaded and brought to it’s knees.

  8. In and amongst all the celebratory and congratulatory comments about the fall of the dollar and the rise of the yuan, please spare a thought to the plight of the Tibetans, second class citizens in their own country thanks to the brutal colonialist policies of the Chinese since 1951.

    • Richard Wicks says

      The Tibetans were a bunch of savage primitives before Red China took them over. It was a dictatorship and an extremely common judicial punishment was amputation of an appendage.

      Is communism any better? Who cares, it’s not our problem. You want to fight a war, I’ll buy you a gun and fly you there.

      • Tim Groves says

        Red China was an is a dictatorship, and the Chinese were still binding women’s feet AND frequently cutting off people’s appendages—including heads—at the same time they were invading Tibet and adding their own brand of torture and persecution to the homegrown variety. Primitive savages or not, I can tell you with absolute certainty that Tibet’s gonna rise again. The tectonic movement of the earth’s crust makes this inevitable.

        • milosevic says

          the Chinese were still binding women’s feet

          No, they weren’t. Whatever else the Communist Party of China did or didn’t do, they quickly put an end to that practice.

        • Jim says

          “…and the Chinese were still binding women’s…”

          They were binding the feet of every Chinese women? No, only the nobility did it! Before pretending to know China, at least do it with “nuances”. This arguments does not hold water.

      • George Cornell says

        Savage primitives? Really? And how long ago did your ancestors become civilized?

      • kevin morris says

        The Chinese word for Tibet translates as ‘western treasure house’ and with this in mind, China has been plundering Tibet’s natural resources ever since 1951. It you look closely at areas of Asia that are still Tibetan in culture, such as Ladakh and Bhutan, you find relatively low levels of economic development but people happy with their lot. Look at Lhasa and you find the Tibetans as second class citizens, living in what has become an alien country, denied a secondary education in their own language. How could this be?

        As for ‘savages’ the Tibetan language was in fact the lingua franca of Central Asia, Tibet’s medical system is one of the oldest in the world and routinely treats illnesses untreatable by western medicine. Even the Chinese grudgingly accept the quality of Tibetan medicine and after destroying the Lhasa medical college in 1959 were forced to create a new college of Tibetan medicine. Tibet was host to one of the greatest wisdom literatures in the world, although most of that was destroyed by the Chinese, along with the monasteries, looted and destroyed, and their gold statues, shipped to China to be melted down. Tibet’s wildlife has been all but destroyed by the Chinese with herds of yak machine gunned by the PLA, butchered and transported in refrigerated trucks east to be sold as delicacies in Hong Kong. Yes, the Tibetans, savages though they clearly are, have much to be grateful to the Han Chinese for.

        I have noted the wilful ignorance of much of the left about what has gone on in Tibet at least since 1962 and the border clashes between China and India. Whilst I do understand people’s desire to see the US knocked off its pedestal, it is clear to me that the nearest analogue to what the Chinese are doing in Tibet, is in fact the US’s treatment of native Americans. Both have been called genocides. I see no reason to be quite a sanguine seeing the rise of yet another colonialist power.

        Tibet is a warning that things might not be quite so rosy for any of us under the Chinese dragon.

          • Fair dinkum says

            Mulga!
            Where have you been?
            I thought the CIA had kidnapped you.
            Can you refute Kevin’s remarks ?
            Has Clive Hamilton gone bonkers?
            I await your sagicity.

          • kevin morris says

            Dear Mulga, I actually know the Chinese very well, having studied them for over forty years, and after briefly flirted with becoming a Maoist myself. The brother of a close friend is the UK leader of a particular school of Tai chi still based in China. When I gained a terminal diagnosis for cancer in 1999, I studied Qigong with a Chinese doctor, a former Red Guard during the Cultural Revolution, and daughter of a senior figure, in the CCP, responsible for the Chinese constitution. ALthough loyal to the Chinese Government, she was a Daoist. During that time, I met and had interesting discussions with Chinese biophysicist who was a Christian. China is a fascinating country and has made many contributions to the world. The excercises I still perform every day, known as Guo Lin Cancer Control Qigong, were developed in China and have been taught to millions of Chinese cancer sufferers, many of whom recover. You will see that I have a good deal to be grateful about regarding aspects of Chinese endeavour.

            However, I have no illusions about the CCP whose number one aim is to remain in power. If anyone doubts that they would do well to study the story of the the CCPs treatment of adherents of the sect of qigong practitioners known as Falun Gong. Nor have I any illusions about the chauvinism of the Han Chinese, many of whom have contempt for Tibet and Tibetans. That China is pursuing a policy of genocide in Tibet is supported by the International Commission of Jurists. The Chinese government currently pays large inducements to the Han to settle in Tibet, whilst at the same time, Tibetan nomadic herders have been forced into breeze block shanties where alcoholism is rife. The debate within the Tibetan exile community is currently whether there is any point aiming for anything like a return to Tibet, because Tibet has in effect been lost through the environmental,and cultural damage committed through government policies. Those unable to contemplate following the thousands of Tibetans fleeing over the high passes into India, where they risk the right of being picked off like rabbits by Chinese border guards, continue to suffer grievously.

            Most of us in the west know very little that has come to pass in what was once referred to as Shangri La, but those living in SOuth East Asia are considerably less sanguine since massive dam projects currently being undertaken in Tibet cause great anxiety in an area where all rivers have originated in Tibet.

        • @Kevin. By simultaneously promising “freedom” to the Buddhists of Tibet and the anti-Buddhist Muslims of Burma, NATZO is going to bring the same peace and prosperity to these countries as it has al ready proven itself able to deliver in Syria, Libya, Kosovo, Georgia and the Ukraina. Inevitable — unless the people of Tibet and Burma look around them, see what has happened to those other countries, and do not swallow NATZO’s poisoned Freedom Cookies.

          • kevin morris says

            Nobody has promised freedom to Tibet and only one country- Ecuador if I remember correctly- supported them at the United Nations in the early fifties when they pleaded for international support in the face of a Chinese invasion. The US briefly funded Tibetan guerillas based in Mustang, Nepal, but withdrew support following Nixon’s meeting with Mao shortly before Mao’s death in 1976. Clearly, the genocide of a weak nation counted very little when weighed against the US gaining an ally against the Soviet Union.

            As for solving the world’s problems, I leave that to the few people who might actually have something valuable to contribute. In the meantime, I speak up for Tibet and her people who have been treated grievously since China invaded all those years ago. I do know that when it comes to power politics, nations like Tibet fall between the cracks. I have no great love for power politics of any shade, be it be from left or the right, the east or the west.

            I do know that those who see the answer to US hegemony as being replacing it with China’s, is foolhardy.

            • George Cornell says

              They could hardly be worse than the US. As for Tibet, formerly part of China, they serve to highlight the fact that China does not invade other countries and steal their stuff and their territories, and really has never done so. And don’t come back about the Uighurs, the Vietnamese and India until you have read carefully.

              So you would prefer the Americans with their 800 bases in 150 countries, raping children in Okinawa, ……well you’ve got it. Who are you? David Frum?

              • kevin morris says

                Arguments about Tibet being part of China are complicated, but also fraught with deliberate obfuscation on the part of China. In 1904, Britain had no doubt who ruled Tibet when they invaded the country and forced a trade treaty on Tibet. Interestingly, and in passing, Colonel Younghusband who led the campaign was so effected by Tibet that on retirement he devoted the rest of his life to campaigning for world peace.

                In fact, Tibet had been a warrior nation and around 1000 AD, actually conquered China. A large stone pillar used to exist in Lhasa but was removed by the invading Chinese at some point. Photographs of the pillar, together with translations of the text are easy to find on the internet.

                You speak very highly of the Chinese. I do too and respect their contributions to the world. Unlike you though I have no illusions about the Chinese Communist Party which rules China. China is committing genocide in Tibet and brutally treats its own people in China. If you have any doubts about that, I suggest you look into the incidence of slavery in modern day China or that you research the CCPs treatment of members of Falun Gong and the issue of judicial murder on demand of Falun Gong members in order that their organs be sold to the burgeoning Chinese organ transplant industry. Unlike the rest of the world where waits for organs may be years, in China organs are available almost immediately with prisoners being killed to order. This has been reported by dissident prisoners for many years and has been investigated with estimates of up to 1.5 million people murdered so that their organs could be harvested.

                I have little doubt that the US is in terminal decline and that in so many ways that decline is to be welcomed, but are you really certain that the world would be a better place with China ruling us all instead of the US?

                • George Cornell says

                  I don’t think it has to be black and white Kevin. The aim has to be for balance and we have just seen what happens when there is one malicious, malevolent, psychopathic hegemon.

                  One hegemon with morality and sentiment for his fellow man would work efficiently but there has never been one.

                  Looking past the fall of the US, the next worry might well be China but their values seem so much more attractive than what we see from the US now.

                  • kevin morris says

                    Of course not. No you can pick the bits you like, ignore the bits you don’t and hope that those who actually call the shots in the world will respect your list- which of course they won’t!

                    The real irony to me of this ‘debate’ is that in China, organs such as OffGuardian would not exist, because the only news organs are those officially approved of by the state. Those who read unofficial news sources would be regarded as dissidents and would be in serious danger of ill treatment or worse by the state. In Tibet, a person carrying a photo of the Dalai Lama is likely to be tortured then imprisoned for twenty years, whilst in China, followers of Falun Gong, a form of exercise, have found themselves imprisoned with up to 45,000 of them murdered and their organs harvested to order. Estimates of up to 1.5 million prisoner murders so that their organs could be harvested make it plain why holding any views other than officially sanctioned ones is so rare in China. Of course everything is great about China because anyone stating a contrary view would be in danger of spending many years in prison or of losing their life.

                    Almost everyone reading offGuardian will agree that the US, especially the one that has been increasingly run by the CIA is an abomination. DO you really believe that any of us will be able to pick and choose the world we would wish for when the US is finally supplanted by China as hegemon? Do you really believe that China will behave any differently in influencing events in other countries than the US has always done?

                    • George Cornell says

                      Having been lied to my whole life, I believe in the constancy of human nature, that is about it, save for Costner’s homily in Bull Durham.

            • @kevin. Googled “USA supports Tibet freedom”, got this from Wikipedia:
              “The CIA’s Secret War in Tibet,[24] reveal how the CIA encouraged Tibetan revolt against China — and eventually came to control its fledgling resistance movement. The New York Times reported on October 2, 1998 that the Tibetan exile movement received $1.7 million a year in the 1960s from the CIA. The Dalai Lama said in his autobiography that his brothers were responsible and that they didn’t tell him about it, knowing what his reaction would be. Lodi Gyari, the Dalai Lama’s personal representative in Washington, said he had no knowledge of the annual subsidy of $180,000 marked as for the Dalai Lama or how it was spent. The government in exile say they knew that the CIA trained and equipped Tibetan guerrillas who raided Tibet from a base camp in Nepal, and that the effect of those operations “only resulted in more suffering for the people of Tibet. …. The budget figures for the CIA’s Tibetan program were as follows: ….”

              Like you I detest power politics. I believe both The Buddha and The Christ show The Way; and their Way does not lead through National Freedom Movements, with or without CIA budgets.

              • kevin morris says

                Increasingly, ‘The Way’, as you call it, doesn’t seem to offer answers to issues faced by Tibetans forced to live in a country no longer their own. I’m sure you are aware that young Tibetans, especially those living in former regions of Tibet no longer even regarded as Tibetan, such as Amdo and Kham see their only way of stating their own independence is dowsing themselves in petrol and setting themselves alight.

                Many of the CIA funded guerrillas guerrillas killed themselves in despair after the US ditched them at the request of Mao. Their abandonment by the US makes clear that when it comes to geopolitics, Tibetans can count on little apart from moral support from the west. The Dalai Lama has written of his sadness at the sufferings of those brave guerrillas, mostly Khampas, who took up arms against the occupying Chinese. He has also said that whilst he couldn’t support their actions, he understood them.

                Although the Dalai Lama’s writ on non violence as the only way Tibetans should conduct their struggle still runs- just, it seems that the young are growing impatient. Those who have escaped at great personal risk to India often say that they knew of the dangers of starvation or of being picked off like ducks by Chinese border guards, but felt that they would rather die in the attempt than live as little more than slaves in what was once their own country. They are growing tired of a policy that has gained Tibetans accolades from much of the world but still sees many Tibetans living in exile almost seventy years since China invaded.

            • John Watwood says

              I concur. A kakistocracy is a kakistocracy. No matter how named or what ever the play of words is involved with said kakistocracy: democracy, republic, federation, communism, etc. Centralized power is a kakistocracy and is not there for the benefit of the majority. A very primitive mind set methinks is that of governance, hierarchy, and sovereignty.

        • Seamus Padraig says

          “… it is clear to me that the nearest analogue to what the Chinese are doing in Tibet, is in fact the US’s treatment of native Americans.”

          Exactly. So what standing does the US have to sit in judgment of China? After all, I don’t see Washington making any moves to give the Indians their land back. Do you?

          And how about Palestine? Is Washington getting ready to cut Israel’s military aid until they enact a serious two-state solution? Oh no! They’re too busy shoveling money and weapons at Tel Aviv– and they’re now talking (once again) about bombing Iran.

          The real problem with the Chinese is that they don’t have a good enough lobby in Washington!

          • Mikalina says

            For the sake of clarity and history:

            The term ‘Indians’ is now considered pejorative and isn’t used.

            The two state ‘solution’ was imposed on the Palestinians by the British (and not agreed to by the Palestinians) and the idea subsequently used as a ‘sap’ to the rest of the world while Israel ignores the 77 UN resolutions against it. Israel is an illegal occupier of Palestinian land and the rightful owners would like their land back.

            Lobbyists are a conduit for money used to bribe politicians around the world. The money comes from finance/industry/military/media cabal who control governments, again, around the world including the US and UK.

            • John Watwood says

              ‘Give me control of a Nations currency and the right to print it and I care not who makes the laws’. A. Rothschild.

      • Christopher Barclay says

        Are there any other ‘savage primitives’ that imperialists are allowed to conquer and exploit and remain socialists?

  9. The petro-dollar is a myth. And the petro-dollar, gold yuan etc are fantasies spread by gold traders. Max Keiser doesn’t know what he’s talking about.

    • Francis Lee says

      ”The petro-dollar is a myth.” Really?! What was it exactly that Kissinger negotiated with the Saudis in 1973 then? The price of dates perhaps? Some of the comments on here are pathetically ignorant. The petrodollar agreement entailed the oil price being fixed in dollars which in turn meant that the US$ became an artificially overvalued currency since there was a manipulated demand for a currency which was key to the oil market. However, overvalued currencies become destabilised in the long run – the Triffin Dilemma as it is called. A very good article in Gold Money by Alisdair MacLeod today. Well worth a read. For example, an extract.

      ”Just at the moment when the role of the petrodollar is being undermined by the new yuan contract, and the non-American world is still awash with dollars following the last financial crisis, President Trump is increasing the budget deficit, and consequently we can expect the trade deficit to increase further as well.

      There can only be one result, and that is substantial and sustained selling of the dollar on the exchanges. It is reminiscent of the situation in the mid to late 1960s, when returning dollars led to three distinct failures: a failed attempt to absorb dollar sales for gold by setting up the London gold pool, a failed devaluation of the dollar from $35 to $42.22, and finally the collapse of the Bretton Woods Agreement in August 1971. That was the last great Triffin unwind, and now the next one is in prospect.

      Foreign holders of dollars, including China, will wake up to the threat, if they have not already done so. So far, China has been reluctant to undermine the dollar by threatening its reserve status. She is, after all, a very large holder of both dollars and US Treasuries. But China’s priorities are now changing, and the outlook for the dollar has suddenly become a less urgent priority.

      The nettle that China must grasp is that her mercantilist plans for the Asian continent are leading to the decline of American influence. There comes a point where she cannot pursue her own objectives without undermining the dollar, and with the introduction of the yuan-settled oil future, that Rubicon has now been crossed.”

      The world is changing, maybe slowly, but inexorably; the decline of the West is mirrored in the rise of the East.

    • John Watwood says

      All currency is a myth. The only value any currency contains is in the minds of people. A purely controlling mechanism of the ‘elites’ to enslave the masses. And I don’t see an end to it. I do see an end to the majority of the population due to Agenda 21 though.

      • Not at all. Currency is virtual but it is not a myth. Currency is state credits and debits. Without it it would be very difficult to move goods and services around to where they are needed.

  10. Big B says

    I see this story all over the net: that China want to de-dollarise the world reserve currency and replace it with the ‘petro-yuan’. Like a lot of good stories: it is a myth. Sure, China want to get away from dollar hegemony …eventually. And they are diversifying their assets by buying gold. But as for the reserve currency, their main preference is the Special Drawing Rights of the IMF. There is no need to take my word for it: here is the Chairman of the PBOC, Zhou Xiaochuan, laying out the Chinese policy.

    The ‘petro-yuan’ is a futures contract; another exotic derivative and way of betting on the upward or downward price of oil over a fixed term. It does not matter what currency it is priced in; or what it is backed by; all currencies are instantaneously convertible from an iPhone. The RMB represents a tiny proportion (1.08% in 2016) of the reserve; as opposed to the Dollar (65.34%) – and that is not to change anytime soon (in fact the RMB share has been falling). The reason for this is that China would have to de-peg from the Dollar, and commit to running a sustained balance of payments deficit …something that would COMPLETELY DESTROY THEIR ECONOMY. And everyone elses.

    If Russia-China deliberately collapse the Dollar there will be nowhere to hide from the fallout and ‘contagion’. If the Dollar does weaken over a thirty or so year period (which is position that may well be manipulated): the next reserve is likely to be the SDR or gold backed SDR. If that happens, ladies and gentlemen, we are all completely fucked …as the scions of Soros will have complete singlepoint control of the worlds reserve through the IMF. So, careful what you wish for. The premature or sudden collapse of the dollar will precipitate the next Great Financial Crisis on steroids. From the carnage will rise the pheonix of the NWO.

    https://www.theepochtimes.com/why-the-chinese-yuan-wont-be-the-worlds-reserve-currency-2_2250139.html

    • Mr B You seem to be suggesting (and this is an honest enquiery) that it did not matter that Saddam Housien was planning to sell all his oil in Euros as soon as he got the UN sanctions lifted, because that is the only reason I have ever found for the 2003 Iraq war; the threat to the dollar, Libya was planning to initiate a Pan African finance system using the gold based Dina instead of the dollar and so it was attacked and Quaddafi murdered. As far as I can see any threat to the position of the Dollar as reserve currency is met with violence. If I am wrong, (why not?) then what justification could there possibly be for these two massacres?

      • How about regime change, just for the sake of it, or getting their hands on the oil supplies in both those countries, using regime change as the excuse? That seems actually like a more plausible reason than just to circumvent their use of alternative currencies (though I am not saying that this didn’t factor into it, but it may not have been the main reason).

      • CF: never underestimate the pure unadulterated greed of the sole hegemon (as America was then. ) They invaded Iraq because they could: for the oil. This was pre the “shale boom”; they went in and turned the taps back on. Euro considerations may have been a tertiary reason: but they could have stopped the Euro at source in 1999 – but did not. By your reasoning they should have sanctioned or invaded Europe?

        They raped Libya for oil and gold. The reasons were leaked by Wikileaks. Sarkozy’s reasons were:

        a.A desire to gain a greater share of Libya oil production,
        b. Increase French influence in North Africa,
        c.Improve his internal political situation in France,
        d. Provide the French military with an opportunity to reassert its position in the world,
        e.Address the concern of his advisors over Qaddafi’s long term plans to supplant France as the
        dominant power in,Francophone Africa. )

        So they went to war to stop a Euro trade, then they went to war again to protect Euro trade?

        Verify for yourself: but China SUPPORTS the dollar. They have an informal arrangement similar to the petro-dollar. They buy and sell dollars (through the bond market) to keep their currency artificially weak against the dollar and euro – in order to keep their exports cheap for their two biggest foreign markets. China is one of the worlds biggest dollar users. Maybe when they have created an import/export base in S E Asia they will reconsider this mutually beneficial arrangement …but not before. That would economic suicide.

        I can see my POV is not popular: if people want to believe internet memes that Russia-China are economic Robin Hoods and America is King John, fine. But the reality is much more intricate and interwoven than that. China’s play will be multi-decadal and toward the SDR, IMHO.

    • Mulga Mumblebrain says

      The Epoch Times ie the CIA cult, Falun Gong. It is to laugh.

      • @Mulga. Thanks for that Lead. Googled “Falun Gong CIA connection”, got this: “‘just as is the case with Tibet, there is more to the Falun Gong case than simple persecution. Outside political forces and corporate interests can be found pushing Falun Gong into increasingly political activities, including well-funded, well-organized, and ubiquitous worldwide protests against the Chinese Communist Party.

        Among the foreign (predominantly Western) Friends of Falun Gong, we find the likes of Mark Palmer of Freedom House. Freedom House is a quasi-intelligence front created by the CIA-connected Open Society Institute of elite George Soros. In addition to Palmer, Freedom House has counted among its top management the former CIA Director James Woolsey, neocons Bernie Aronson and Diana Negroponte, super elite Zbigniew Brzezinski, former Clinton National Security Advisor Anthony Lake, Clinton Commerce Secretary Stuart Eizenstat, and the late Congressman Tom Lantos and his wife.

        Freedom House is backed by the National Endowment for Democracy (NED), which former CIA agent Philip Agee, and many others have amply documented, is a US intelligence apparatus that has been a driving force behind opposition forces (“democracy revolutions”) in many countries.

    • John Watwood says

      I concur. But currency of any kind only has value in the minds of people. As long long as people have ‘faith’ in currency, believe in it whether backed by black oily substance, or shiny objects, or nothing at all, they will be enslaved. The first thing any kakistocracy does is set a currency and currency system. Why? Is it we need currency or the kakistocracies needs us to need it? I do agree that all of this shit going on is to digitize currency into a 5G IoT control grid, a OWO or NWO control system.

  11. Who are we going to fight? And with what?

    OK, ca. 1990 NATZO (pop.700Million) managed to “take out” Serbia (pop.7M) — a country 1/100th our size. And boy, didn’t we feel good about it!

    So ca. 2000 “We’re gonna take out 7 countries in 5 years”. Starting with Iraq (pop.30M) — a real biggie, almost 1/20th the size of our Coalition of the Killing. But funnily enough, instead of feeling good about this heroic exploit most of the cheerleaders are silent or apologetic.

    But never say die, ca. 2011 NATZO have persevered and taken out 3 more little countries — notably Libya pop.7M. But it’s taken 11 years for 5 countries not 5 years for 7 countries. We are feeling a little worn and weary, Especially as there are 2 real biggies coming up: Syria plus Iran — combined pop.100M, wow! 1/7 our size. A bit daunting but never say die, say Inherent Resolve.

    ca. 2018 Seven years of Inherent Resolve and we haven’t even cracked Syria (pop. 23M) — Let alone Iran (pop.80M). That’s because something unforeseen has happened — all our noise has roused an enormous big bear from hibernation: Russia (pop. 200M). Now we really have a problem; if it took us 18 years to take out 5 little countries how long is it going to take us now?

    The POTUS has an idea: Let’s take out Russia’s ally China (pop.1000M).

    • Harry Law says

      Nice comment vexard, Dispute your figures slightly, China’s population in 2016 1.379 billion, USA population 325 million. The Chinese army have to walk normally, because if they marched in unison the earth might fall off its axis.

      • Tim Groves says

        When I was a schoolboy, a long time ago, my elder brother assured me that if the Chinese all stood on chairs and then jumped off simultaneously, the impact of their combined weight crashing to the ground would generate a tidal wave that would swamp America.

        Although the physics of this idea is questionable, today’s Chinese leaders are confident that they wouldn’t have to attempt it in order to bring the US to its knees. They think that all they have to do is to buy themselves enough influence so that they can manipulate US policy as desired. And they think this is a feasible strategy because Americans, like the above-mentioned Tibetans, are savage primitives who will do anything for money.

        • Like in the Lenin’s quote – the capitalists will sell us the rope with which we’ll hang them.

        • Mulga Mumblebrain says

          I prefer the version that an old Commo mate of my Dad told us. He was in Beijing in the 50s, and met some old PLA Marshal at a reception. He told the old fellow that people in China were scared stiff of the ‘Yellow Peril’ invading Australia. The old chap had a long drag on his cigarette, laughed loudly, and declared through his interpreter that all the Chinese had to do was move to their southern coast, face Australia, all piss in unison, and wash the Australians all away.

          • Brutally Remastered says

            Well, that neatly encapsulates the tone and detail of Australian diplomacy: thanks for sharing.

  12. US hegemony was built on its reserve currency. It is maintained at the end of a gun but those days are quickly drawing to a close. Why? Because American Administrations have themselves. destroyed their own soft power by using the reserve currency and financial control of the world to attack other nations’ economies. The US overreached and is now going to pay for it!

    • George Cornell says

      They deserve to get it good and hard as Mencken said about the common man in democracies

      • George Cornell says

        Ps is that a simian crease in the hand holding the Franklin? How poetic!

  13. RJ Vela says

    You’re probably already hearing reports that interests rates in the US are on the rise. No pun intended here, you can google “Consumer is Maxed Out” – and read on how americans are finding it harder than ever to increase credit. This means that US foreign policy couldnt pick a worst time to antagonize its so called idealogical enemies. Its the US own fault that their will be major losses coming to its hegemony in the next few years which will ultimately impact the way of life in America in a very bad way. If we even make it that far. The US may start more wars as Max Keiser suggests to delay the crushing weight of its debts, but at this point in history, starting a war anywhere outside the US military’s sandbox which is the middle east, may start a conflict like the world has never seen.

  14. I’ve been saying it for many months and I’ll saay it again. The US would rather plunge the whole world into a nuclear war even at the cost of it’s own citizens(like they’ll have any say in the matter)rather than give up it’s pole position of supremacy. If it can’t have it all, no-one will, believing that if they destroy half the planet they will still be on top.

  15. John Marks says

    If Japan is smart, they’ll do a deal with Russia: Russia returns the Kurils in return for Japan kicking the Yanks out of the Ryukyus and declaring neutrality.
    Japan would also be sensible to return Diaoyu to China and Dokdo to Korea and finally make friends with its neighbours instead of continuing as an expendable pawn in America’s warmongering.
    Finally, Japan could sweeten the deal with Russia by heavy infrastructural investment in the Russian Far East.

    • Tim Groves says

      Thank you, John. It is always reassuring to read the opinions of an expert in these matters.

      Individually, the peoples of Japan, Korea and China are as friendly as the mass media and official government propaganda will allow them to be. Trade and tourism are booming, and Japan currently has 730,000 Chinese residents and 450,000 South Koreans. Everything is hunky-dory until every so often somebody comes along on the TV screen or in the newspapers and spoils it all by mentioning the war. I did it once, but I think I got away with it.

      As for “returning” islands, all ownership is temporary, all the territories you named are peripheral and none are big enough prizes to risk going to war for. The UK could doubtless engender some temporary goodwill with its neighbors if it “returned” the six counties to Eire, the Channel Islands to France, Gibraltar to Spain and the Shetlands to Norway, not to mention ceding the Falklands to less nearby neighbor Argentina. And the UK could kick out the Yanks for good measure. For consistency’s sake, are you advocating such a policy!

      By the way, the Liancourt Rocks (Takeshima in Japanese/ Dokdo as the Koreans and their fanboys call it) is already in South Korean military hands so there’s no need for Japan to “return” it. The Liancourts are basically two small rocky islets surrounded by a dozen or so even tinier rocks with a total surface area of 0.187554 square kilometres (46.346 acres). They are admittedly bigger than Rockall but smaller than the Skellig islands, and the weather in winter there is much too depressing and the space too confined for anybody to contemplate living there voluntarily. Literally, nobody would want them as a gift. They are a great place for a wild bird sanctuary though.

    • George Cornell says

      After the US bombed the bejesus out of Hiroshima and Nagasaki and poisoned their atmosphere and earth for a great long time, and gave them DNA changes with long lasting effects, I have difficulty understanding why the Japanese have no sense of pride, self-respect and valour when it comes to the US. They know better than anyone how unnecessary the bombing was, the Japanese already knowing the game was lost, as did Truman and Hirohito. What an absolutely disgusting gang of psychos.

  16. Tom Welsh says

    Mr Xi has just been entertaining Mr Kim to make sure they are both in agreement before Mr Kim goes to Washington.

    Mr Putin has kept in touch with the Japanese government so that they are aware of realities.

    The difference between Mr Xi’s China and Mr Hussein’s Iraq or Colonel Qadafi’s Libya? The reason why Mr Xi will neither be hanged nor sodomised with a bayonet?

    S-400, anti-ship cruise missiles, hypersonic anti-ship missiles, undetectable diesel submarines, Su-35, J-20A…

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