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Old 09-18-2008, 03:46 PM   #1
Zarathustra
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Default China accuses US of financial WMD

http://www.presstv.ir/detail.aspx?id...onid=351020404

China accuses US of financial WMD
Thu, 18 Sep 2008 08:22:02 GMT


Markets across Asia tumbled as a result of the Wall Street crisis.
Chinese state media has blamed the US for unleashing financial "weapons of mass destruction" and sparking a global market "tsunami".

China's official Peopleís Daily warned on Wednesday that the US had set off a "financial tsunami" by allowing Wall Street lenders to trade in subprime debts and unstable financial derivatives.

In response to market turmoil, China's central bank cut interest rates for the first time in six years, from 5.85% to 5.31% signalling Beijing's intent to maintain economic growth and employment.

Regional stocks tumbled across East Asia on Thursday due to panic-selling brought on by fears of a financial meltdown on Wall Street.

The MSCI Asia Pacific Index of regional shares fell 4.1% on Thursday as traders in Hong Kong, Japan and China fled equity markets to safer investments such as gold, government bonds and currencies such as the Yen.

Thursday trading saw Japan's Nikkei 225 Stock Average falling 3.6% while the broader Topix index skidded 3.9%. Japan's central bank also pumped another Y1.5 trillion into money markets to fund banks increasingly wary about lending to each other.

Hong Kong's Hang Seng Index now stands at its lowest level in over two years after dropping 7.3% on Thursday and 15.2% in the previous six sessions. HSBC holdings and China Mobile, two of the biggest and most influential stocks on the Hong Kong market, lost 7.4% and 4.6% respectively.

The Shanghai Composite index in China crashed 5.8% while the Taiex in Taiwan sank 3.6%. South Koreaís Kospi index dropped 3.9% after hitting an 18-month low on Tuesday.

Signs of panic spread also spread to consumers with policyholders at troubled insurance giant AIG flocking to regional offices to terminate agreements despite an $85 billion US government bailout.

Asian markets have been hit hard all week after the collapse of investment bank Lehman Brothers and the forced discount sale of brokerage firm Merrill Lynch.
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Old 09-18-2008, 04:11 PM   #2
Carol
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Default Re: China accuses US of financial WMD

China is waking up to the fact that someone screwed the pooch and they're the pooch (at least one of the pack that got it in the back end). The US pulled the plug while China literally was on a bank holiday and they are now left scrambling to save themselves. Unfortunately, it was the Greenspan and the banksters who did this and with Congress's blessings as they failed to do any regulaton or oversee the Federal Reserve Bank.
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Old 09-18-2008, 04:18 PM   #3
Zarathustra
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Default Re: China accuses US of financial WMD

Quote:
Originally Posted by Makani View Post
China is waking up to the fact that someone screwed the pooch and they're the pooch (at least one of the pack that got it in the back end). The US pulled the plug while China literally was on a bank holiday and they are now left scrambling to save themselves. Unfortunately, it was the Greenspan and the banksters who did this and with Congress's blessings as they failed to do any regulaton or oversee the Federal Reserve Bank.
M,

I believe China is sending a message here that their support of the dollar is nearing the end. People have no idea how dire the consequences of that will be.
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Old 09-18-2008, 05:42 PM   #4
Carol
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Default Re: China accuses US of financial WMD

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Originally Posted by Zarathustra View Post
M,

I believe China is sending a message here that their support of the dollar is nearing the end. People have no idea how dire the consequences of that will be.
agreed...

I don't know where to put this personal observation so will put it here. For years now I've been involved with and followed all types of financial info and to be perfectly frank, knowing what is really going on for years... the reality of how the dollar has been devalued and the amortization of money from almost every type of loan that exists to where 3 million is tanked up of 3 billion (a gross exaggeration however there is no real dollar value to back any of this, it's all just paper). Subsequently, this whole financial situation has seemed surreal to me for years.

It was inevitable that it would eventually all come crashing down because none of this financial speculation is based on sound financial practices. In fact, given what is going on now with the financial WMD, I’m relieved. The shoes (in a collective sense) are all tumbling to the ground. Irrespective of how awful this is for so many folks, in the end, one hopes this even is a good thing and that there will be a return to the monetary values that this nation was built upon.

However, there is the worry that the globalists will step in with a one-world currency and a one-world bank. After all, isn’t that their plan? Yet, with the ongoing earth changes perhaps even their grand plan of world domination will come crashing to the ground. One thing we see is how consumerism is also coming to a grinding halt as folks are beginning to realize the less is more. Having less makes it easier to be mobile, to relocate if necessary and sort out what is of value (family and friends at the top) and the basics with respect to food, shelter and transportation.

It is with great interest I watch this financial tumble.

Last edited by Carol; 09-18-2008 at 05:59 PM.
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Old 09-18-2008, 06:55 PM   #5
Zarathustra
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Default Re: China accuses US of financial WMD

Quote:
Originally Posted by Makani View Post
agreed...

I don't know where to put this personal observation so will put it here. For years now I've been involved with and followed all types of financial info and to be perfectly frank, knowing what is really going on for years... the reality of how the dollar has been devalued and the amortization of money from almost every type of loan that exists to where 3 million is tanked up of 3 billion (a gross exaggeration however there is no real dollar value to back any of this, it's all just paper). Subsequently, this whole financial situation has seemed surreal to me for years.

It was inevitable that it would eventually all come crashing down because none of this financial speculation is based on sound financial practices. In fact, given what is going on now with the financial WMD, Iím relieved. The shoes (in a collective sense) are all tumbling to the ground. Irrespective of how awful this is for so many folks, in the end, one hopes this even is a good thing and that there will be a return to the monetary values that this nation was built upon.

However, there is the worry that the globalists will step in with a one-world currency and a one-world bank. After all, isnít that their plan? Yet, with the ongoing earth changes perhaps even their grand plan of world domination will come crashing to the ground. One thing we see is how consumerism is also coming to a grinding halt as folks are beginning to realize the less is more. Having less makes it easier to be mobile, to relocate if necessary and sort out what is of value (family and friends at the top) and the basics with respect to food, shelter and transportation.

It is with great interest I watch this financial tumble.
well said
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Old 09-18-2008, 07:05 PM   #6
Antaletriangle
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Default Re: China accuses US of financial WMD

Quote:
Originally Posted by Makani View Post
China is waking up to the fact that someone screwed the pooch and they're the pooch (at least one of the pack that got it in the back end). The US pulled the plug while China literally was on a bank holiday and they are now left scrambling to save themselves. Unfortunately, it was the Greenspan and the banksters who did this and with Congress's blessings as they failed to do any regulaton or oversee the Federal Reserve Bank.
Is that 'pooch' the chow chow these sometimes have a tendency to bite back; like any dog infected with 'fleas'.
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