Epoch TV; CROSS ROADS, with Josh Phillips (X @CROSSROADS_JOSH) has recently returned from Taiwan where he was investigating the Far East, and is presenting many (23 as of now) separate reports on CCP; from many political, business, social and weather event angles. These are all exactly the kinds of info one needs to understand what’s going on in Red China. There is very little to no good news for the Chinese people. I highly recommend this series.
You should talk with Dr M, he lives in Hong Kong and visits China on a regular basis. The mind set is not an American one. I am in Vietnam nam currently and nothing of the sort is true especially with new economic trade routes being established within the region in order to bypass the American dollar and it’s proxy bank controls. Times are changing with American interests being left behind. No one wants to do business with America anymore.
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I’ve got big news for you, -you can do business with anyone you like and be a happy camper. International business runs on confidence in the guy on the other end of the deal delivering as agreed, and when dealing in currency of any kind you need to be assured that the value will not change significantly from the beginning to the end of the transaction. That’s the whole transaction, all of its parts. Whoever is getting the money to sell this or that will be using that money to buy this or that to sell again to the next guy and he needs to know that it will hold its value. I was in Vietnam in '62 and they would take any foreign currency, French Francs, German Marks, Brit Pound, etc., over the Piastre because in the old days of only national currencies the Dictator govt could control it and the people by changing the printed currency and/or exchange rate overnight. Anyone with too much cash to exchange at their local bank (like crooks, tax cheats, or govt enemies) got stuck holding the bag. That’s why the dollar and other stable currencies came into vogue back then.
Think them days are past & gone? What’s to prevent China from dramatically changing the exchange rate overnight to favor themselves at the expense of others? If you are dealing with & thru them, you’re at their mercy. It’s going to happen because the CCP has run out of other people’s money right already. Depositors’ in-country are being restricted on how much they can withdraw. The Hong Kong business community knew that was coming and that’s why they have family member operated businesses elsewhere where they keep their money in that local currency which is exchangeable internationally. Since it’s family they can maneuver invoice to favor the out-of-country end of the deal where they’d rather pay the tax and keep the money. Singapore, Australia, New Zealand, Canada, UK, USA, EU, many places have these family extension businesses for that reason alone; it’s not in China, and money not forced to be in Yuan. You wait; -the economic problems inside China will sooner or later be visited upon holders of Yuan. And, if you are a captive trader of CCP, tough luck, their still your major trading partner and if you think you can get away from that, I’ve got big news for you…
You can’t trust paper money anymore.
The US dollar’s hayday was the petrodollar dominance courtesy of Kissinger / Nixon.
The Japanese yen is crumbling: the country played the faithful US lapdog since 1945 but it has reached the limitation of false sense of security, I suppose.
What are China’s assets? Smart people. Other than these, China has (virtually) no natural resources: it has to buy petroleum to fuel its industry (traditionally from the Middle East but now China found a trusty partner in Russia which sells cheap gas) and iron to build stuff from Australia.
On the other hand, China’s population is too large to be manageable and wishes it was a lot smaller.
Once this pathetic pussy regime is out, I think things will change as far as what the rest of the world thinks of the USA. At least I hope so.
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I don’t believe the Japanese have been supplicants of the US govt; I do believe they know which side of the bread has the butter on it, so they want good relations with the source of a lot of butter for their bread. They sell lots here in the USA, and they have less govt friction than many other countries that would like to sell here. Also, they live in a dangerous part of the world and need a large friend. We need their good will, like their goods, and have a win-win relationship with them.
The CCP is a dictatorship on a grand scale and that will continue until the leadership is overthrown, probably violently, but who knows how or when. The USSR fell on its face and threw in the towel, but changed from commie oligarchs to capitalist oligarchs; a distinction without a difference. The CCP doesn’t value people; Adam Smith understood 300 years ago that the Wealth of Nations is its people who are free to work in their own best interests. Yes, there are too many people in China, but they have already proven that they can provide labor to export enough to feed themselves with imports. They could do that and better if free to do work in their own best interests. Enough said.
If you calculated the % of transactions in any currency of paper versus electronic, I think you’d find that we already have all the electronic dollars, Euros, Yuan, Yen we need, such that Bitcoin, et al are superfluous. It doesn’t matter where you are, you don’t have to transact in dollars, you can transact in any of the major currencies just by changing into what you want thru a currency trader or in your bank. It’s not free, but easy enough. But, if people want to play with pretend money, I have no problem with that. The difference is that the US govt, such as it is, backs its currency and Bitcoin is guaranteed by nobody in particular. I don’t have a problem with that either, but I think (speculate) that someday there will be an electronic fart and the shit will hit the fan and some people will get shortchanged. I don’t pretend to have any insider info; I know nothing. But I don’t trust much, and Gumperson’s Law is always lurking out there: “If anything can go wrong, it will, and will do so at the worst possible moment.”
The Japanese are continuing to pay the Piper for their economic splurge in the 80s & 90s when the govt financed their industrial expansion with large blocks of pretend money, thinking, -wrongly that it would be repaid with the proceeds of increased income they speculated would be generated. China has done exactly the same thing, and both were creating the circumstances for a huge come-uppance.
Increases in value are what adds value to the net worth of people, companies and currencies. Just “owning” doesn’t increase value. If I buy the Brooklyn Bridge it doesn’t change in value. The former owner doesn’t necessarily have more net worth by selling it unless he gets more than book value. His profit is a true increase in value. My net worth doesn’t increase because I “own” it, -I owe the lending institution the value of the transaction and in most cases that’s a bigger debt than the asset is worth and I made the transaction on speculation that the Bridge’s revenue will make the payments and at the end of the financing period when the loan is paid off the Bridge will be worth more than I paid for it, or at least enough to make it profitable for myself.
The Japanese and CCP govts assumed the assets financed with speculative & ¥en ¥uan would generate enough revenue to cover costs and “buy” the assets out of debt. Nothing wrong with that! If I hit on Red 12, I will win 35 times my money.
If I don’t win once every 35 spins, I lose; If the owner of the Brooklyn Bridge doesn’t get enough revenue from operations, he loses the difference and has to make it up out of his pocket. If his pocket isn’t deep enough he loses everything & more. The Japanese didn’t only invest their pretend money in their own industries, that was back in the day when real estate was like money from Mana; people were buying two new homes to be built so they could reap the profit on one and live in the other. Real Estate was a guaranteed profit in Las Vegas and California an other US markets, so the Japanese privy to the nearly free money to borrow bought prestigious real estate in New York City & elsewhere in the real estate boom that went BOOM! beginning around 2005-06. The pretend money needed to be paid back, but a big chunk disappeared as defaults on loans. The Bank of Japan, again with fallacious thinking just carried the defaults as asset debts on hold as non-performing debts instead of making them debits, reducing the value of the asset to zero or a negative that payments would never be made on. No further payments were forthcoming. That period of pretend accounting subtracted the value of the reduction in value of the pretend ¥en by the amount defaulted, just like the ¥uan is devalued by the amount that is being disappeared in the giant cities with giant empty buildings next to freeways & bridges to nowhere built on the come. Commies don’t understand capitalism, and the Japanese govt took leave of their senses, -for a while, and they both missed the boat that guides capitalism: The person taking the financial risk needs to Sheppard the business proposition from inkling to fruition because the world of business is full of competitors who want your customer and you need to compete with the others everyday; providing goods & services at market value, and staying current on wants and needs and prices and quality and everything else. No asset makes money without work. That’s daily work. Overextending oneself or failure to read the marketplace, or sloppy helmsmanship, or bad luck will do you in. Therefore, the party making the loan wants to be assured you will continue to perform your management role so as to have your loan continue to perform. They want your skin in the game and you need a bankroll of operating funds to see you thru hard times. Or, no loan.
There is no such thing as free money. And all the easy stuff is already being done. Only real work is left. And the word, “Speculator” carries with it raised eyebrows for good reasons. No bet is too small to lose; and no person or govt is too big to lose.
Its called “BRICS” which de-dollarization is already happening. No more trading with US dollars, and paper currencies. Its just a fact to which some are aloof to from their own myopic point of view.
Precious metals, and rare Earth minerals is controlled by China. Essential to a lot of new technologies being manufactured today.
Is 4 years going to be enough to turn the US into a manufacturing hub once again? Will decoupling from China and turning inward with such strategies is actually going to happen in such a short period of time? I am not so sure!
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Yes, lithium is one of them and it’s used in the batteries for EVs,
I don’t know about other people, but I wonder all the time: Will humanity in the future run around many hours a day to make money for bigger houses, bigger screen TV and shinier cars with bigger engines? (Even in most Asian countries where the max highway speed you’re allowed to drive at is 100 km/h which is 62 mph.)
That’s what most of us think, but there is something called the kabbalistic magic. Create money out of thin air — as practiced by the Fed. This is the world where God does not exist.
There is also the legend of Golem, a brainless monster in the Jooish Talmud, created out of mud with incantation by a learned rabbi. It is a fatal mistake to think that Judaism is monotheism like Islam or, to a lesser extent, Christianity.
In this world of kabbalistic magic, two plus two is not four, and that’s what wokeism is all about. Men are no longer men and women are no longer women.
In this twisted world of magic and demonism, hard work is not the way to success. Success comes when you outsmart the dumb, hard-working worker bees and rule over them with fake authority endowed by your demon god.
Welcome to the world of Marxism and communism.
I don’t like the tone of this response. It insinuates that there is such a thing as a single list of stuff that is correct or necessary for one person or one family and more or different is not correct or necessary and is therefore “too much”. That smacks of socialism which is just another face of totalitarianism, “I’ll let you know how to live and what to enjoy”.
Thomas Jefferson is quoted as saying, “Whose shoe is to be measured; that all others be shrunk or stretched to match?”
I work for me & mine; as hard and long as I think is worth my time to obtain what me & mine want. It’s different than other people’s list and I don’t care. Lots of people have things I’d like to have but I don’t have the earning power to obtain those things, so I don’t have them. Others feel the same way about me & my stuff, and they are entitled to their opinion, but not my stuff. I am not entitled to suggest what other should have instead of what they have, and I demand the same respect. Don’t rain on my parade.
Your lament does not comport with this philosophy.
Sheeple gloat over material wealth.
Real philosophers don’t, and they do not look down on the average Joe.
Real philosophers, like the early Buddhists, work on their issues and karma, so that they will be allowed to reincarnate in a better world (or better still, they won’t reincarnate at all), thus leaving the sheeple alone.
Individuals who think they are smarter, better looking, richer… are bad enough. Nations who think they are holier because they imagine that they have been chosen by their demon-god are real bad news for the entire humanity. These self-proclaimed chosen people have zero culture.
The Chinese — the topic of this thread — are a little bit guilty of this (like most nations in the world) but not fundamentally. You can BECOME one of them, if you choose to, by mastering some aspect of their culture, be it Chinese poetry, caligraphy, martial arts, painting, culinary art, etc.
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All of your “real” philosophers consider/ed themselves above the common man???
Norman Schwarzkopf in Saudi said: “The troops will fight above, below, and beyond” the Iraqis or something like that.
Bottom line: The philosophers are forced to become different from the average Joe because they have seen the tricks used in the 3D world as in the “Allegory of the cave.”
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I’m going to be reincarnated as a rotting corpse. We get one pass at the brass ring.
It doesn’t work that way.
Notice the syllables in “reincarnation.” From my very elementary Spanish, I can tell you that “re” means again and “carne” means meat or flesh.
It means you will have to come back to this ol’ 3D world in fresh flesh, so to speak, as a baby and repeat the whole learning process all over again.
Plato said that if you can remember you past lives by virtue of philosophy, you can spare all this trouble and approach Creator quickly. Yep, Plato was the first Buddhist in Europe.
As for the Chinese, the essence of Chinese philosophy is Taoism: 無為 or wuwei, meaning “doing nothing.”
How cool is that! Don’t sweat. Just sit alone and sip some tea. Let the world do its crazy things and you just don’t participate in the craziness.
You have no news for me. We who love life want to live in a multipolar world than being a slave to the imperialist banking cartel of the USA. Go in peace and stop trying to control my country and others like it. How I see it, no more wars!
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