Paul Craig Roberts interview on King World News - MP3 Link
China Announces That It Is Going To Stop Stockpiling U.S. Dollars - The Economic Collapse Blog - Michael Snyder - November 21st, 2013 - China just dropped an absolute bombshell, but it was almost entirely ignored by the mainstream media in the United States. The central bank of China has decided that it is "no longer in China’s favor to accumulate foreign-exchange reserves". During the third quarter of 2013, China's foreign-exchange reserves were valued at approximately $3.66 trillion. And of course the biggest chunk of that was made up of U.S. dollars. For years, China has been accumulating dollars and working hard to keep the value of the dollar up and the value of the yuan down. One of the goals has been to make Chinese products less expensive in the international marketplace. But now China has announced that the time has come for it to stop stockpiling U.S. dollars. And if that does indeed turn out to be the case, than many U.S. analysts are suggesting that China could also soon stop buying any more U.S. debt. Needless to say, all of this would be very bad for the United States. For years, China has been systematically propping up the value of the U.S. dollar and keeping the value of the yuan artificially low. This has resulted in a massive flood of super cheap products from across the Pacific that U.S. consumers have been eagerly gobbling up. For example, have you ever gone into a dollar store and wondered how anyone could possibly make a profit by making those products and selling them for just one dollar?
Well, the truth is that when you flip those products over you will find that almost all of them have been made outside of the United States. In fact, the words "made in China" are probably the most common words in your entire household if you are anything like the typical American. Thanks to the massively unbalanced trade that we have had with China, tens of thousands of our businesses, millions of our jobs and trillions of our dollars have left this country and gone over to China. And now China has apparently decided that there is not much gutting of our economy left to do and that it is time to let the dollar collapse. As I mentioned above, China has announced that it is going to stop stockpiling foreign-exchange reserves...
Black Friday: A Shameful Orgy Of Materialism For A Morally Bankrupt Nation - The Economic Collapse Blog - Michael Snyder - November 29th, 2013 - It has been called "America's most disturbing holiday". Black Friday is the day when millions of average Americans wait outside retail stores in the middle of the night in the freezing cold to spend more money that they do not have for more cheap Chinese-made products that they do not need. It is a day when the rest of the world makes fun of Americans for behaving like "rabid animals" and "zombies" as we indulge in a tsunami of greed. It truly is a shameful orgy of materialism for a morally bankrupt nation. It is being projected that approximately 140 million Americans will participate in this disgusting national ritual this year. Sadly, most of them have absolutely no idea that they are actively participating in the destruction of the economic infrastructure of the United States. If you don't understand why this is true, please be sure to read this entire article all the way to the end. The amount of merchandise that is purchased on Black Friday is absolutely staggering. For example, just consider how much stuff is sold at Wal-Mart alone...
10 things department stores won’t tell you - What to know before entering J.C. Penney, Macy’s, other retail giants - Marketwatch (The Wall Street Journal) - Charles Passy - November 30. 2013
The late Bob Chapman saw it in 2008 - The International Forecaster - November 30 2013: Bob was known for his caustic wit, contrarian viewpoints, and clairvoyant foresight of things to come. In 2008, he saw the corruption of what was to come in the markets. - “The dollar has clearly been abandoned and foreigners are starting to bail from dollar-denominated assets in droves. This is where bailouts, and the hyperinflationary destruction of the dollar that comes with them, are leading us, along with miniscule bond rates caused by continual flights to “security” as everyone flees in terror due to rapidly deteriorating market conditions caused by subprime fallout, over-leveraged speculation, fraudulent lending and borrowing, lack of oversight, transparency and confidence, frozen credit markets, an out-of-control money supply, profligate borrowing and spending, as well as an economy destroyed in less than two decades by globalization, free trade, off-shoring, outsourcing, unrestrained illegal immigration, insane wars for profit and the rampant inflation and unemployment that come from a completely, totally and malevolently mismanaged economy thanks to the reprobates and sociopaths that run the Fed and our government.” Bob Chapman, International Forecaster, 2008.
Sundown in America - Wall Street Journal interview with David Stockman - November 30, 2013
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