|
SOURCE: Telegraph.co.uk By Ambrose Evans-Pritchard 06 Sep 2009 The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.
"We hope there will be a change in monetary policy as soon as they have positive growth again," he said at the Ambrosetti Workshop, a policy gathering on Lake Como. "If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies," he said. China's reserves are more than – $2 trillion, the world's largest. "Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets," he added. The comments suggest that China has become the driving force in the gold market and can be counted on to Mr Cheng said the Fed's loose monetary policy was stoking an unstable asset boom in China. "If we raise interest rates, we will be flooded with hot money. We have to wait for them. If they raise, we raise. "Credit in China is too loose. We have a bubble in the housing market and in stocks so we have to be very careful, because this could fall down." Mr Cheng said China had learned from the West that it is a mistake for central banks to target retail price inflation and take their eye off assets. "This is where Greenspan went wrong from 2000 to 2004," he said. "He thought everything was alright because inflation was low, but assets absorbed the liquidity." Mr Cheng said China had lost 20m jobs as a result of the crisis and advised the West not to over-estimate the role that his country can play in global recovery. China's task is to switch from export dependency to internal consumption, but that requires a "change in the ideology of the Chinese people" to discourage excess saving. "This is very difficult". Mr Cheng said the root cause of global imbalances is spending patterns in US (and UK) and China. "The US spends tomorrow's money today," he said. "We Chinese spend today's money tomorrow. That's why we have this financial crisis." Yet the consequences are not symmetric. "He who goes borrowing, goes sorrowing," said Mr Cheng. It was a quote from US founding father Benjamin Franklin.
Set as favorite
Bookmark
Email this
Hits: 485 Trackback(0)
Comments (20)
  written by JodierDRoche, March 12, 2011
Good work! Your post is an excellent example of why I keep comming back to read your excellent quality content that is forever updated.discount jersey Thank you!
 written by cheap shoes, May 24, 2011
The cheap shoes legends of ancient times were even revived. Then burst forth the unending argument between the believers and the unbelievers in the societies of the wise and the scientific journals,inflamed all minds. Editors of scientific .
 written by Air Max Shoes, May 24, 2011
Nevertheless, until finally I see a robot overlord myself, it truly is safe and sound to assume that these Air Max Shoes sneakers are for us people.The moment there, the materials transitions to a mesh overlay and ultimately reaches the Jetstream coloured lace stays. The Photo voltaic Red pair is identical together with the exception of Photo voltaic Red replacing the Jet Stream.
 written by hollister clothing, May 26, 2011
Nice one, there is actually some good points on this blog some of my readers may find this useful, I must send a link, many thanks.
 written by air max shoes, June 16, 2011
President Barack Obama places an Auburn University football helmet on the head of Ethan Gibbs Wholesale New Era Hats , son of former White House Press Secretary Robert Gibbs, during the ceremony honoring the football team's 2010 BCS National Championship in the East Room of the White House. Standing with the President are football coach Gene Chizik Wholesale New Era Hats , left, and player Kodi Burns, right. June 8, 2011.
 written by Louis Vuitton Bags, July 20, 2011
Cheap Louis Vuitton Bags
Cheap Supra Shoes Chanel Bags Oakley Sunglasses For Cheap
 written by Cheap Gucci Shoesh, July 20, 2011
CheapGucciOnline1 is the best online store which provide Cheap Gucci , Discount Gucci,Cheap Gucci Online,Cheap Gucci Bags,Discount Gucci Shoes,Discount Gucci Handbags, Cheap Gucci Shoes, Discount Gucci Shoes,Gucci Men Handbags,Gucci Men Shoes, Gucci Leather Shoes,Gucci Women Sandals,Gucci Women Pumps, Gucci Hats, Cheap Gucci Belts, Cheap Gucci Wallets, Gucci Sunglasses online, if you need some Gucci Bags. You are able to select Cheap Gucci Shoes from different modes, colors and materials on our website. We provide Highest Level Quality,Attractive Price,Secure and Fast Delivery.
Louis Vuitton Bags is one of the most attractive brands in the world. Cheap Louis Vuitton Bags is not only a sign of taste and fashion, it is also a symbol of social status and recognition. louisvuittonbagsworlds.net is the best online store which provide AAA+ top quality Louis Vuitton Bags, Cheap Louis Vuitton, LV Bags, Louis Vuitton Online, Cheap Louis Vuitton Wallets, Discount Louis Vuitton Sunglasses, Cheap Louis Vuitton Watches, Cheap Louis Vuitton Shoes at lowest price. Welcome to select Cheap Louis Vuitton from different modes,colors and materials from our company. AAA+ Top Quality,PayPal Accept,Save up to 50%-80% off,5-7days delivery!!! Cheap Jordan ShoesCheap Nike Air Max Shoes,Cheap Nike Dunk SB Shoes,Discount Nike Air Jordan Shoes,Nike Dunk Low Men Shoes,Nike Kobe Bryant shoes, Jordan Spizikes shoes , Cheap Nike Air Yeezy Shoes, Nike Air Shox Shoes, Nike LeBron James shoes, Cheap Jimmy Choo Shoes , Alife High Top Men Shoes,Puma Men Shoes,Cheap Timberland boots,Coogi Shoes,Wholesale Brand Hats/Bikini,DC Hats,Coogi Hats, ED Hardy Hats,Bape Hats ,Cheap NFL Hats, Smet Hats,A&F bikini,Christian Audigier bikini, ED Hardy Bikini,POLO bikini. Cheap Christian Louboutin Shoes is one of the most attractive brands in the world. Christian Louboutin Shoes is not only a sign of taste and fashion, it is also a symbol of social status and recognition. discountclshoes.com is the best online store which provide top quality Cheap Christian Louboutin Shoes, Cheap Christian Louboutin Boots, Cheap Christian Louboutin Pumps, Cheap Christian Louboutin Sandals, Cheap Jimmy Choo Shoes, Cheap Jimmy Choo Boots, Cheap Jimmy Choo Sandals, Cheap Yves Saint Laurent Shoes, Cheap Yves Saint Laurent Pumps, Cheap Yves Saint Laurent Sandals at lowest price. Welcome to select Cheap Christian Louboutin Shoes from different modes, colors and materials from our company. AAA+ Top Quality,Save up to 50%-80% off,5-7days delivery!!!
written by Cheap Gucci Shoesh, July 27, 2011 Welcome to HandbagsWorlds, where you can indulge yourself in the latest Handbags, trendy purses and more! Our quality handbags are hand selected to offer high quality without the high price tag, so getting the hottest looks has never been easier. Whether you are looking for the perfect shoulder bag or a slim and sexy clutch, we have exactly the Cheap Handbags you are looking for at affordable prices.Cheap Louis Vuitton,Cheap Louis Vuitton Bags,Cheap Chanel Bags, Cheap Gucci Bags,Discount Louis Vuitton Handbags,Cheap Chanel,Cheap Gucci,Discount Louis Vuitton,Discount Chanel Handbags,Discount Gucci Handbags. 77% off Cheap Chanel Bags Online, Chanel Handbags,Chanel Bags,Chanel handbags Online, Cheap Chanel Bags, Cheap Chanel Handbags, Discount Chanel handbags , Discount Chanel bags .Fast Delivery, Free Shipping and Discount Price. Chanel New Arrivals, Chanel Handbags 2010 Collection ,Chanel Coco Bags, Chanel Coco, Chanel Coco Handbags, Chanel Flap Bags, Chanel Flap Handbags, Chanel Cambon bags, Chanel Diaper Bags, Chanel Evening Bags, Chanel Messenger Bags, Chanel Shoulder Bags, ,Cheap Chanel Tote handbags, Chanel Tote Bags, Wholesale Chanel Purses, Chanel Bow Sunglasses, Cheap Chanel Sunglasses, Chanel black Sunglasses, Chanel pearl Sunglasses, Chanel J12 Watches, cheap chanel watches, Cheap Chanel Shoes, Chanel Sandals, Chanel Belts Timberland is one of the most attractive brands in the world.?Timberland Boots is not only a sign of taste and fashion, it is also a symbol of social status and recognition. TimberlandBootsCheap.Com is the best online store which provide top quality Timberland Boots, Cheap Timberland?Boots, Timberland Men Boots,Timberland Women Boots,Timberland Kids Boots,Timberland Chukka Boots, Timberland Roll Top Boots, Timberland 6 Inch Boots. Welcome to select Timberland Boots?Cheap from different modes, colors and materials from our company.Top Quality, PayPal Accept, Save up to 50%-70% OFF, 5-7days delivery!!! Cheap Nike Shoes, Cheap Jordan Shoes,Cheap Nike Dunks, Cheap Air Max Shoes, Cheap Nike Basketball Shoes,Cheap Air Jordan,Cheap Air Max,Cheap Jordan Shoes,Cheap Nike Air Yeezy ,Cheap Air Yeezy Shoes, Cheap Nike Shoes.
 written by DC Hat, August 09, 2011
DC Hat very happy to read your blog.Thank you for sharing this article.It is great!
Thanks for sharing this nice post.I will keep your article in my idea{ Adjustable hats }.
 written by cheap gucci hat, August 26, 2011
The beauty of Tory Burch Shoes lets ladies crazy in the world. They are all stylish,fashion and amazing. There's nothing more chic and comfortable than the cheap Tory Burch. If you are a popular woman, you should not miss them. High discounts and Free Shipping are offered in our tory burch outlat now.
 written by newbusiness1, August 30, 2011
We offer cheap ugg boots,discount ugg boots,ugg boots for womens. Ugg boots (sometimes called uggs or ug boots) have been considered a fashion trend since the early 2000s.The combination of its soft shank and sheepskin interior means that ugg womens classic classic uggs short 5825 are designed for casual, short-term use, and not for situations which require sturdy, protective footwear, as the design emphasis is on style and comfort rather than protecting the feet.
Ugg Australia australia boot delivers on its promise of comfort and attainable luxury. Ugg boots have been a leading trend in fashionable footwear for the last few years, and the trend is set to continue for a while yet. Ugg boot prove very popular because they look great, while at the same time are supremely comfortable. In general, it is better to wear these within informal or casual settings. This makes them a fantastic everyday type of footwear.UGG knights bridge Highkoowomen cigar,short ugg boots I can not get in front of or behind the fashion? in my home town judge boots popular baby can start their own key and eyes.UGG Ugg Bailey. Baby wearing Ugg boots and wear Uggs young babies. To some degree, the boot has become not only necessary but also modern.
written by newbusiness1, August 31, 2011
Even for spring-summer 2010 back to a classic Hogan Interactive sneaker, absolutely one of the more beloved and best-selling brand. Very beautiful models also perforated leather or patent leather ink, the most glamorous ones with studs and sequins to decorate the characteristic H of the brand. Hogan hi-top model in the methods developed are enriched with high technology. Leather products are made with leather uppers and soles based in Italy. Although Hogan man shoes are hi-top with a long row, is satisfied with the comfortable fit on it.The Cheap Hogan sneaker soles with raised has become a real must-have and it's hard not to walk around any Italian city and not see someone wearing these shoes! We sale Hogan shoes 60% discount, free shipping world. We provide the highest quality and best service for you.
The inexpensive Hogan footwear selections with regard to both women and men, It will meet your all requirements. Classic Italian language footwear tend to be considerable within selections as well as provide you with a felling that they're created solely for you personally. Hogan Hi-Sprint Footwear Tend to be Completely new Includes Unique Product packaging As well as High quality Guaranteed. Large low cost marketing right now.
written by newbusiness1, September 03, 2011
http://www.australiabootsale.org/If you have a hankering to learn more about uggs sales, in this article we'll be talking about some fascinating qualities of the company. Even though UGG makes various of footwear, they will always be best known for their sheepskin boots. Whether you're looking for out door or fashion boots, for men or women, UGG makes a lot of designs. Whether you want leather UGG, UGG with heels, or something different altogether, there is something for everybody in australia uggs new product lines. Men and children are not left out. UGG boots are usually not a new invention as quite a few folks tend to think. Though they've never ever been as well-liked as they may be now, these cozy boots are in fashion for more than 25 a long time. In all probability everyone who owns UGGS will agree they would be the most relaxed as well since the warmest boots they have at any time had. The bailey button UGG on sale often in classic type.
Some variations of ugg design boots have also been made from kangaroo fur and leather! Nowadays, our short uggs outlet online store provide many ugg products! This fall and winter season, whatever the weather is, you will not feel cold! Once you have the ugg boots outlet, the winter would very warm!
written by ugg australia, September 17, 2011
Recently, the men have begun wearing man uggs too. New Arrival Cheap ugg boots for sale have been seen on stars from Ronnie Wood, guitarist with the Rolling Stones, to Leonardo DiCaprio and also Justin Timberlake. These Australian Ugg boots have certainly come a long way from their humble origins. From sheep shearers to WWII aviators to 1970s surfers to contemporary celebrities, they have been worn by loads of people. The most popular men's Uggs that have been worn by the male celebrities include the uggs classic tall and also the Ugg Classic short uggs boots, although they do have many more styles.
Most ugg bailey button websites are based out of China, authoritative it about absurd for law administration agencies to accompany them down.
 written by UGG-dtgz00003, September 20, 2011
We all want to have a particularly awkward not only warm, lightweight shoes to have a good winter, so UGG turn popular.
 written by Real jordan shoes, September 21, 2011
Real jordan shoes
http://www.authenticjordansshoes.com/
 written by Kids nike dunks, October 21, 2011
As for fashion? Here's a quick example Cheap Nike SB for women. A red coat with a big ruffly collar is fun and fashionable right now. A classic trench coat in the traditional tan color with no embellishment, on the other hand, is not necessarily fashionable, but it is definitely classic Nike Dunk High shoes and always "in style". Either can be very stylish depending upon the way it compliments a person’s individuality.
 written by timberland 6 inch, November 02, 2011
His brother-in-law, Mr. Hurst, merely looked the gentleman; but his friend Mr. Darcy soon drew the attention timberland boots of the room by his fine, tall person, handsome features, noble mien; and the report which was in general circulation within five minutes after his entrance, of his having ten thousand cheap timberland roll top a year.CF
 written by louis vuitton replica , November 25, 2011
For ladies, Louis Vuitton replica handbags are the best pieces to show their unique tastes and styles. If you love them, you can buy them in our site. To buy replica louis vuitton USA from our online shop will be your best choice! Replica Louis Vuitton USA is surely to order you best service and high quailty!Welcome to professional Louis Vuitton Sale Outlet Online to purchase Louis Vuitton pruducts of the best quality & enjoy professional Louis Vuitton Sale service. Louis Vuitton outlet store provides various kinds of Louis Vuitton goods on sale. We wish you enjoy yourdelf with free shipping in Louis Vuitton outlet store.
Write comment
|
Cheng Siwei, former vice-chairman of the Standing Committee and now head of China's green energy drive, said Beijing was dismayed by the Fed's recourse to "credit easing".
TrackBack URI for this entry
Subscribe to this comment's feed
If you support our work and what we provide, please help keep the NWO Library and Iconoclast Report websites online.
We need to raise $300USD by January 2012 to pay the hosting bill. Please help us out as you are able.
|
No amount is too small or too large.
Register or Login
Menu
Most Popular Radio Shows
- Illuminati IV with special guest Chris Everard
- Part 2: Sirius - The Astronomy of the Sirius star system, and why it's so important
- Thoth Hermes Part 3 - Emerald Tablets of Thoth, Basics of the Hermetic Princples, Understanding the foundation of Hermetics
- Social Engineering, monarch programming, the media and you
- Thoth Hermes Part 5 - Hermetic Principles Explained, Various Dimensions & Planes, How Hermetics Can be Applied to Your Life
