China wants to be top-dog

China has now called that the US Dollar stops to be the world’s reserve currency amidst the current world debt crisis. Financial markets are shifting and David Cameron has said that the English Pound is in fairly good shape. Putting the emphasis on the fairly, it makes the sentence a fairy tale.

Our economy drives on debt. Banks lend money on a debtor’s ability to pay back the debt and that is a calculated risk that then drives on the economy by pushing up the production of goods. China thinks that this is the wrong way to go about driving forward economic and commercial markets. We used to stop counting monies on primarily gold reserves a long time ago and the playing with financial figures now creates a headache because the interest calculations create and reduce imaginary monies and further attached money debt purchases and the credit interest on those produce a big cliff hanger for the economy. It produces an enormous gap and creates wealth that really does not exist but that money can be spent by those with the finger in the till.

Considering that it is all mostly money created on data sheets and not real money in a bank or a gold reserve, it can all be seen as a giant game of Monopoly, with very serious consequences.

Of course the Western nations want to prop up and support the US as the mother of all currencies but China and of course India in its footsteps would like to see the finance centres of the world shifted Eastwards.

Of course world dependency has shifted from US produced goods and food to Chinese and India produced goods and services. My new phone was actually produced in India, a first for my collection of phones. Whilst we increase our debts, our unemployed continue to enjoy the cheap clothing Made in China, whilst the Chinese sweat behind sewing machines and keep their heads down with merciless vigour.  Here in the West we have only just established that most of those who claimed disability benefits can do some sort of work, yet the work is not here but it is there and far away, maybe too far for the ones that were unlucky enough to get the notice to quit for their council flat to move to for employment.

We saw feverish attempts to rid us of our gold by sending out bags to sell your gold quickly without fuss for those who needed a few quid in the most recent downturn. But whilst Tony Blair tried to make the UK an education centre of the world, I wonder what they want to teach? How to mess up a financial system and lose the top spot in the world perhaps.

Unfortunately it is impossible to bring any common sense into our financial systems as only those get employed who have been thoroughly brainwashed  into accepting our current financial system without any creativity. I suppose the less you can use mental arithmetic the better for the banking jobs.

Those found guilty of misdemeanor were publicly prosecuted. Yet here in the UK whilst MPs and Lords were imprisoned over badly composed expenses claims the NPIA ran up £6.5 million up on government owned credit cards of which £100.000 was for taxi rides  and some money had been spent on lingerie and karaoke equipment.

Interestingly Gordon Brown took the western way of doing business to the hilt and wanted to increase borrowing whilst Cameron said to tone it down, which is what China likes and Cameron was then in conference with the Chinese PM. Does Cameron play more into the hands of the Chinese than Brown does? it seems that way.

The people had enough of the suffering and riots have broken out all over London. Just imagine the press in other countries about this. If they report the same way about us as we report about them, then it doesn’t look too good for us.

Cameron completely underestimates the situation with his policies and in the end Archbishop of Canterbury was correct in his assessment in saying that the policies werent’ wanted. We had now widespread rioting that was set off by police shooting a local resident with 4 children, who was suspected of having shot at an officer.Quite obviously that was only the trigger that set off that widespread rioting because people have lost out everywhere, now even their secure homes and they get less housing benefit and there are no jobs. I think that David Cameron cannot expect too much from the British public and that Gordon Brown held the situation better under control than Cameron can who lives in his cloud cuckoo dream.

It has now become apparent that Asian stocks have also slumped in the market downturn. Obviously the less we spend there the less they earn.

Comments are closed.

Blog Stats

  • 55,047 hits
%d bloggers like this: