Big Al discusses the recent real estate transaction by the Chinese with Bob Moriarty
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reality http://www.youtube.com/watch?v=mOwZwkhFemQ ! old man talk !
Thanks franky: CANNOT gree with the first utube. In an earlier blog this weekend I respond over Karen Hudes’ piece where she blames the Jesuits as being at the root of all the economic ills of the world. Way too much Da Vinci code for my liking.
However I loved the last clip on Emperor KangXi. What a beautiful and inspired soul whose Confucianism puts many so-called Christians to shame!
Frank is pointing out what is and has been for thousands of years.
Symbolism is paramount so the empire has just reached a point of transition in power.
The gold vault / JPM is the symbol.
The world bank whistle blower might help convince the skeptics :
http://www.silverdoctors.com/tag/world-bank-whistleblower/
I agree very much that the Chase Manhattan building is a symbolic purchase, Matt. The Chinese just love to give a message by doing exactly this kind of thing. Let me give you another example to shed a little insight on how they think.
Here in Africa the 50th anniversary of the African Union representing the 54 countries in the group has just recently wrapped up. As a gift, the government of China built and paid for the new headquarters of the AU in Addis Ababa, Ethiopia. They covered the whole bill too……. Lock, stock and barrel including all the furnishings and adornments.
This is not just one of the tallest, most modern and beautiful structures on the continent but also one of the most significant since it houses the offices of all the member states. It was a huge statement and it came with no strings attached.
China owns this continent and now they are letting everyone know. They are on track to bcome the largest trade partner of most of the countries here and certainly the largest contributor to the massive infrastructure and development programs that are now underway across the continent. It has been reported by other media that Chinese business and government enterprises are signing off on contracts here at the rate of 20 to 1 compared to all Western business combined.
They have a huge lead. And they do not come with charity in mind or sacks of grain for starving people either. The Chinese just show up and start offering to do the things the local governments want most. They are funding roads, dams, railways, internet, telecommunications neworks, bridges and everything else you can imagine out of thier own bankbook.
They are bringing jobs, industry and prosperity in the process and trading off for resources that are key for them. But don’t imagine for a moment that this is some kind of modern invasion or colonization. Nobody is learning Chinese as an outcome and the continent is not being enslaved as the Europeans had done in the past. It is just a businesss relationship that has endeared Beijing to the regional governments by filling a need others thought to overlook. Africa wants to develop and China is making it all possible.
So when they financed and built the new African Union headquarters which soars a 100 stories over the city the implied message could not have been more clear to Western watchers. This was no different than how a prospector stakes a claim by driving his first post into the corner of a great find. They don’t even need to tell you what the program is all about to send the picture. Now THAT is symbolism!
Just as an aside for anyone reading this….I have never seen a single Renminbi in all the time I have been here. The dollar is still king by a long shot and they are much sought after. There is in fact a serious shortage of USD in all the fast developing countries here as demands for imports of all kinds far outstrip exports. Obviously, nobody wants to do trade with African currencies and so most transactions must first be converted to Euros or dollars or they will not happen. This has presented tremendous difficulties and barriers to development but also created some excellent opportunities which I might one day write about. It is the aspect of currencies though that has been China’s strong suit as they can step in and help lubricate the system where and whne it is needed most. More specifically, Chinese businessmen have discovered they have a captive market when they set up plants and operations locally as imported goods are prohibitive while domestic demands are surging. In short, you must manufacture in Africa to sell to Africa. Econ 101 I suppose. How else can a billion new consumers participate in the global economy when they are so poorly industrialized and short of foreign exchange. This is key to China’s current success over here. See….everything really is about money after all!
BBC World News – African Union opens Chinese-funded HQ in Ethiopia.
http://www.bbc.co.uk/news/world-africa-16770932
Certainly some people are learning Chinese in Africa – I saw pics of an African Chinese class somewhere online. And in a couple of places anti-Chinese sentiment is building up. (I heard this from a Nigerian contact, and saw a couple of Ghanaian articles complaining about Chinese companies flouting local laws. Kind of ironic considering one of the big Chinese business schools now has a branch in Accra.)
So my guesses are:
a) the Chinese are largely making headway in Africa because they’re prepared to throw money about. Particularly at the corrupt African elites who’d sell out to anyone, and are finding relationships with Western financial/corporate interests. This will eventually prejudice the interests of ordinary locals.
2) This will eventually contentious that it becomes a political issue. In countries with functional democracies this unpopularity will (eventually) stifle further growth in Chinese interests. Where popular sentiment can be contained there will be anti-Chinese civil unrest, and seeing as it’s Africa, it could be the subject of the odd coup.
3) In other countries, even if the Chinese are extremely careful, politicians will find they have a new, deep-pocketed target for sectarianism, will blame the Chinese for economic troubles and nationalise or otherwise compromise Chinese assets. (See the treatment of Indian in Uganda…)
* Read up on Chinese treatment of ethnic Tibetans and Uighurs. Incidentally, I’m not remotely anti-Chinese. I speak Chinese, lived there for several years, and find Chinese people very easy to get along with. The government however is another issue, and its control over education and media mean Chinese people often have deeply-held and unfortunate attitudes on some issues.
There is definitely anit-Chinese sentiment here Xlurker. But that is amongst the working poor not the business class or most of society that depends upon cheap labour to grease the system. There is definately no rebellion amongst the political classes either if that is what you are thinking. Chinese overtures have been most welcome and the jobs, while often offering dismally poor salaries, are a boon for the most of these economies and play into the wider development and industrialization goals. Part of the problem with social resentments are that the Chinese companies pay so poorly in the factories that the workers can never earn enough to even get a ticket to go back home (most very low wage earners come from rural parts of the country seeking a better life). A second reason is that they are quite intolerant of employees who make minor errors, come late etcetera so they often have quick termination policies. And why not….there is a surplus of people with poor educations, no skills and a lack of advocates who NEED the jobs even if salaries are a measly 25 dollars a month or less in some cases. On the other hand, wages are steadily rising here albeit off a very low bottom. While incomes have declined in most of the West for the past five years, incomes here have been improving continuously over that same time period (but for the wider society, not factory workers). There is a kind of rebalancing underway across the globe but it will take a half century and more to play out. When incomes decline in the West it is not hard to appreciate that a little share of the pie has been shifted elsewhere. Some of it is now appearing in Africa via Chinese and Indian investments. I do think that by the time most come around to appreciating just how dynamic these economies have become that when they finally get around to visiting and investing this will not be the same Africa you all see on your television sets.
I wonder if there is any way to confirm this Karen Hudes?
A quick google search shows her involved with the world bank sinse 2007.
The Board of Governors of the World Bank, consisting of 188 member countries, ended the Gentlemen’s Agreement for the US to appoint the President of the World Bank in April 2010. Karen Hudes warned US Congress and the US Treasury Department in 2007 that this would happen if the US President of the World Bank continued to break the rules.
She uses “asset backed” and “fiat” corectly, alot of people dont.
She mentions gold doesnt have to back currency. To me, this shows an understanding beyond most people concerned.
She is agreeing with Bill Still in part and Roseanne Barr who proposed to back currency with agriculture.
The ramifications of these concepts are beyond most peoples understanding as they havnt givin it credence enough to research it.
A clue to “just off mainstream” would be Jim Rickards saying “A” gold standard, not “the” gold standard.
What makes me think she may very well be ligitimate is her understanding of the “system” and whats happening.
Little things, like identifying the criminals owning the media etc.
Interesting about the gold obviously.
%k golden statues appear, 1000 tons found because of dreams and now tons found in Hawaii, these could very well be clues that there is (as suspected) alot more gold out there than previously though.
Also interesting she says even with all that gold around she still owns some as insurance.
Yeah,BB,she was well worth listening to.
Central bank profits flow into London and then off it goes again.
Most can’t conceive of these ideas as they have not read their monetary history.
Yes Bob, the Chinese are coming. A few years back the Chinese Ratings Agency Dagong would have been derided. Not so now having just down-graded the US dollar. Forget Goldman Sachs and Chase. China now sanctions a State savings rate of 20% in gold. The Remnimbi backed by gold is on its way.
With the Fed running out of money once more by Jan 15th and the Debt ceiling taking a further hit by Feb 7th, could this be the pre-cursor for WW 3? Maybe Israel will provide the excuse by attacking Iran.
The fuse is getting shorter by the month.
the jesuits are the the foundation . and then the building comes ! The universities throw the world are controlled by the jesuits ! the jesuits when you give me a child until he’s seven mine vore LIVE ! No you how reed diss your children !
If I understand you correctly (and I am not sure that I do), I do not agree.
If I understand franky I think he is saying “give me the first 7 years of a child and I own the man”
This is a very old adage, Hitler used it saying 5 years and many before and after him. It has to do with very young children will believe anything you tell them, they actually have no defence, their minds are not developed enough at that age.
It is true, you can tell a young child anything and they will believe it.
Try reading a “woof” book, dogs go bow wow, ducks go quack etc, but read it as dogs go meow,ducks go squeek etc. it takes awhile but the kid will eventualy figure it out and get a real belly splitter laugh. Its funny as heck.
Anyway, yup, thats the way kids are, and there in lies the “abuse” argument, by teaching kids our beliefs we actually take away their chance to form their own, as they will believe anything what they are told and it forms their beliefs.
It is abuse as it takes away their free will.
Thats the argument, reigions that impress their religions on their kids obviously wont agree with me. But thats where the “religion is child abuse” comes from.
In Frankys example, Jesuit.
day adapter and sophisticate Hitler was 1930 S NOW is THE 2000 much more control TV IPOTS NO FAMELYS LOST NO MONEY ! DAY PLAY THE PORE children to EAT the RICH children ! no luk your farm luk the city children !
Al, what postings about Gary Savage are you referring to. DT
My family and i bring in These prlmoebs Sufficient time, I am A lot of Would be the Your The popular host oprah %anchor% THE’RE Value for money Also Definitely worth Finances!! Have a passion for All of them!!
Thanks bb
Al, don’t let your website become compromised by a seemingly harmless soul like Franky, I don’t know if you haven’t noticed this but postings here have definitely gone downhill and you aren’t paying attention. DT
Have to agree DT Things are getting tedious right now! A
I have actually considered this more than just in passing, Machine Gun.
The posting regarding Gary Savage are definitely not appropriate and will be removed in the future. They serve no purpose that I can see.
Franky? I don’t know my friend. The link he sent to the video was great. Some of his stuff is just silly, but some of it is spot on.
Give me an opinion either here or send me an e-mail. (alkorelin@gmail.com)
Best to you.
That was a great post BB. I loved it. I was killing myself laughing at your book analogy and animal sounds. So true man.
Steve,the main advice I can give is to use what you have. I don’t coleclt wares for display, but for their usage. Even if they just serve to embelish my tea set, I really want to get them off the shelf and next to me when I make tea. That’s how they come alive and are worth more than their financial cost.As for the tetsubin, it came pretty much like it is. I only have it for a year, I think. The main advice here is to dry it after each tea session. This is easily done by warming it a little when it’s empty and still wet. The merchant told me to use a clean, soft cloth to wash the outside. A stranger method is rubbing the outside with a raw, peeled potatoe! It is supposed to make it shine! Never done it, though. Since I use it daily, it has no opportunity to take any dust. Here again, the best is to use it. Isn’t it the practice that makes the master?!
Imagine if you were a fighter pilot trained in Canada and sent to GREAT BRITAIN in the spring of 1940 and the Battle of Britain was just starting, at age 18 you became a squadron leader because all your friends had been shot down, what do you do, do you pretend insanity and hope that you can get an exemption from aerial combat or do you carry on until your number comes up. I’m afraid that the attraction of fatalism is so strong because you need that feeling of the rush even if the fall is inevitable.
Similarly, The US can’t extricate itself from the debt morphine, they must wait until their number is up. DT
Ha Ha! Good one DT. Actually I think it is closer to “Stockholm Syndrome” that you refer too. The problem is that everyone who might have objected to the risks that massive excessive debts entail has already bought into the idea and it fully invested. They don’t even know they are being abused and stolen from anymore, preferring to jump to the defense of their captors before listening to the rantings of a bunch of arm-chair economy bloggers!
From Wiki……..Stockholm Syndrome
“Stockholm syndrome, or capture–bonding, is a psychological phenomenon in which hostages express empathy and sympathy and have positive feelings toward their captors, sometimes to the point of defending them. These feelings are generally considered irrational in light of the danger or risk endured by the victims, who essentially mistake a lack of abuse from their captors for an act of kindness”.
I was referring to your fighter pilot post, DT…not Franky’s strange comment stream.
Hi Birdman, Does any one think that we are being told the truth when it comes to the size of The US national debt, after a decade of low interest rates there are no savers there or in Canada.
When the time comes for a cyprus style bail out first they will go to Fort Knox open the doors and let the cameras see the empty vaults with squirrels and rodents scurrying about and when the cameras are turned on the domestic banks, the ones The Chinese don’t own they will see a mirror image of the same.
The Fed is running the stock market now very few people have any savings to spend on investments, but if you want their debt I’m sure they can help out. DT
I love Jerome, I love Isabel, and I love you for writting about them .the bags look great! I may have to pick one up for a spaecil lady friend! :)bisous.five.spot.
My intention is the eiofhtgld path. the problem is my family is fine with being vegetarian except for my brother and my grandpa. Besides tofu, where else can I find a high source of protein, and any type of vitamin or anything that i need to function the same as eating meat? My family also sometimes goes out and eat. If I was to eat a buffet or a chinese or vietnamese restaraunt (what I normally go to) what things can I eat?First of all, I dont believe eating anything that imitates meat like morning stars. Im also used to chinese cooking but I currently prefer american.to clarify my question, What vegetarian foods have the same health benefits as meat besides eggs, milk ?also in the morning my grandpa makes sausage and eggs, which I hate the taste of anyways. what breakfasts can I eat?what home lunches?also in the morning my grandpa makes sausage and eggs, which I hate the taste of anyways. what breakfasts can I eat?what home lunches?
Al – take a holiday.
Hand things over to Cory for a month. Have just been reading about when a vocation turns into an obsession, and everything starts to go pear-shaped. KER is a brilliant concept but it’s getting to be top heavy with imbecilic remarks and speculations that go endlessly hither and thither.
Ask yourself – Can I go off for a month’s quiet reflection, and ignore PMs entirely?
Best wishes, Andrew
Thanks Reverend,
Back on your statement within a couple of days.
Big Al
Franky: Bob M says PVG is good to go. Strathcona is clueless. PVG on sale!
i tell yo much times DAY ARE ALL 1 ONDER DISS ( THE SAME HOW SELL ARE BUYERS ) Day control USA EUROPE CHINA AND RUSSIA ALL WORLD http://www.youtube.com/watch?v=NGAHV9fM0vY