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3 hours ago, Pitcher said:

The World needs to go after China for their diabolical plan.  

If we don’t hold them accountable and make them pay with harsh penalties they will just do it again.  

They should be kicked out of the WTO, the WHO, and any other 3 letter World Organization that has rules its members are supposed to abide by.  

China mocks the West for playing by the rules while they break and exploit them.  


:o 

 

:D  :D  :D 

 

 

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Washington adds 33 Chinese entities to its blacklist

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23rd May, 2020

 

The US Department of Commerce announced the addition of 33 Chinese entities to the list of economic sanctions, for violating human rights and fears of harming US national security related to weapons of mass destruction and other military activities

The ministry said it would punish nine companies and institutions involved in human rights abuses and violations, as part of the crackdown, arbitrary arrest, forced labor, and strict supervision of the Uighur minority in China, and other minorities in the country

The ministry cited in its statement seven Chinese business entities, which enabled the Chinese government to obtain high-tech control devices

The Ministry of Commerce pointed out that 24 government and commercial enterprises have been added to the list of economic sanctions, due to the support provided for the purchase of equipment for use by the Chinese army

In its statement, the ministry said that a science institute affiliated with the Chinese Ministry of Security and eight companies was blacklisted for Washington, which means that the Donald Trump administration imposed on it "restrictions prohibiting access to American technology

 

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20 minutes ago, DinarThug said:

He Doesn’t Need Any Help ! :o 

 

On paper it seems like anyone can beat President Trump but 

Joe Biden will be an epic fail.   Trump will run right over him, imo.  😝 😆 

 

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1 hour ago, DinarThug said:

Washington adds 33 Chinese entities to its blacklist

 

 

Thanks Thugs, we have a decoupling of the 2 Economic Super Powers.  China got caught with their hand in the cookie jar.  If they were smart they would say they are sorry and try to regroup.  The rhetoric and incredibly stupid moves China is making with the Australia tarriffs, the Hong Kong statement on Thursday and their aggressive moves in the South China Sea is not going to end well for them. They think they are ready for prime time but they are basically a 2 bit Communist country.  They need the West to buy their goods.  They will find out very quickly how rapid American International Companies will go to the next 3rd world Country for manufacturing.  

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10 minutes ago, Barbara020548 said:

Totally DISAGREE!

 

Ok.  That’s an intelligent response.  I don’t mean to be flippant, mean spirited or arrogant to your response but please do better than, “Totally DIAGREE”.  Take some time and craft a real response, preferably something with a little more oomph than your lame attempt.  It’s go time Barb.  Bring your A game or just forget it.  If you don’t want to respond I understand, who needs the ridicule right.  Just go vote for Joe but before you do, think about what you are supporting. 

 

Joe Biden is a 40 year career Politician who doesnt have a clue what Americans are going through.  The man is just a collection of every Democrat’s wish list.  A wish list that is wrong for our country.  Do you really want Socialism, Higher Taxes, Sanctuary Cities, Open Borders, Illegals voting, a Dem Party that set up an incoming Administration’s Official, a  previous President who knew and agreed to Spy on the incoming President.

 

 I could go on, maybe you believe Joe Biden’s son deserved to receive the millions of dollars from the Ukraine, Romania, and China.  Maybe you believe it’s ok for most of the Dems to have their hands out selling their influence because they are a US Senator.  If you doubt me I can give you 2 books that have documented evidence on HRC, Biden, Warren, and Sanders all selling influence, or Quid Pro Quo.  Do you believe in the Constitution or our Rule of Law.  The Dems don’t. We can’t talk about Schiff and his Impeachment Trial if you like or the Mueller Special Investigation.  It might be best to just wait for the Durham Special Investigation.  

 

I know, it’s tough when you are so invested in a political party that is so out of touch with America.  You are probably still in shock over how HRC got beat by the Deplorables and Smelly Wall Mart people.  I guess you like a candidate that says he is going to beat himself.  I’m curious why you support the Dems so much.  

 

 You probably think I’m a Trumper but I’m really not.  I hate his style, his bragging, his dumb tweets and more.  The Dems have not put forth a candidate that’s worthy of my vote.  I will never vote for a Party that thinks Socialim is right for America or that Joe Biden is the best thing for America.  He is NOT, not in my opinion.  

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On 5/18/2020 at 12:54 PM, DinarThug said:

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Iran warns of the repercussions of any American intentions to act against the oil tankers


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20:13 - 05/17/2020
 
 

In a letter to the United Nations Secretary-General, the Iranian Foreign Ministry warned of the implications of any American intentions to act against Iranian oil tankers in the Caribbean after Washington sent naval forces to it.

Foreign Minister Muhammad Javad Zarif said that the American threats against Iranian oil tankers are provocative, illegal and piracy of the sea, which pose a threat to international peace and security.

Zarif added that Washington should stop bullying on the international scene and respect the laws of global navigation

He stressed that the US administration should bear responsibility for the consequences of any illegal action against Iranian oil tankers.

The foreign minister stressed that Iran has the right to take any necessary and appropriate measures to respond to American threats.


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Iranian fuel arrives in Venezuela despite American warnings


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09:32 - 05/24/2020
 
 

The first oil tanker among 5 Iranian tankers entered the exclusive economic zone of Venezuela on Saturday afternoon despite a US official warning that Washington is considering making a response to these shipments.

Refinitive Icon's tracking data to track ships indicated that the tanker arrived in the waters of Venezuela after passing north of the Caribbean state of Trinidad and Tobago.

"The ships from the sisterly Islamic Republic of Iran are now in our exclusive economic zone," Tariq al-Aissami, the Venezuelan vice president for economic affairs, who was recently appointed oil minister, said on Twitter earlier .

Venezuelan state television showed scenes of a navy ship and a plane being prepared to receive the carrier. The Venezuelan defense minister has pledged that the army will accompany the tankers upon their arrival in the exclusive economic zone of his country because of what the authorities described as threats by the United States.

The tanker fleet carries a total of 1.53 million barrels of gasoline and alkyls for Venezuela, according to the two governments, and the sources and estimates of the Tanker Track.com website, which specializes in tracking tanker traffic.

The shipments caused a diplomatic confrontation between Iran and Venezuela on the one hand and the United States on the other, as the two countries are subject to US sanctions. A senior official said Washington was considering measures to respond, without giving details of the options.

The Western-backed Venezuelan opposition, worried about growing ties between Iran and President Nicolas Maduro, whose country faces an economic crisis six years ago, has protested against this Iranian aid, which provides enough fuel for consumption for a month.

President Hassan Rouhani announced on Saturday that his country would respond if the United States caused any problems for tankers carrying Iranian fuel to Venezuela. He said in a telephone call with the Emir of Qatar, "If our tankers in the Caribbean region or anywhere in the world are exposed to any troubles by the Americans, then they will face troubles as well." 

 

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19 hours ago, Pitcher said:

The rhetoric and incredibly stupid moves China is making with the Australia tarriffs,

the Hong Kong statement on Thursday

and their aggressive moves in the South China Sea is not going to end well for them.

 

They think they are ready for prime time but they are basically a 2 bit Communist country.  

They need the West to buy their goods.  
They will find out very quickly how rapid American International Companies will go to the next 3rd world Country for manufacturing.


Shadoobie - Shattered ! :o 

 

:D  :D  :D 

 

 

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China’s plan for $1.5 trillion Belt and Road empire left in tatters by coronavirus pandemic

China is understood to have invested $1.5 trillion dollars in the program. Picture: Supplied

 

24th May 2020
 

China is now “facing its own worst nightmare” as its $1.5 trillion plan to exert influence around the world has been blow apart by the coronavirus

 

China is being forced to decide whether it wants to maintain its global influence or feed its own people as the coronavirus throws a major spanner in the works of its $1.5 trillion plan to exert influence around the world.

As part of its ambitious Belt and Road Initiative to win friends and influence people, China has dished out hundreds of millions of dollars to over 126 countries in recent years in the form of cheap infrastructure loans.

The idea was to connect countries across continents on trade by creating a 6000km sea route connecting China to South East Asia, Oceania and North Africa, an element known as the “Road”. It also wanted to create a “Belt” by building railway and road infrastructure to connect China with Central and West Asia, the Middle East and Europe. However, the economies in many of these nations have collapsed under the strain of the global coronavirus pandemic.


China is understood to have invested $1.5 trillion dollars in the program. And, while the leaders of those countries are increasingly worried about how they’re going to pay back their Belt and Road loans, China is suffering its own economic downturn.

Professor Jane Golley an economist and director of the ANU’s Australian Centre on China in the World (CIW) said this all means the superpower has been left “facing its own worst nightmare”. She told news.com.au China now has to balance providing financial relief for the suffering nations that signed up to the loans, and the needs of its own people — as its economy shrinks for the first time since the Mao era.

Ultimately she believes there will be a far more urgent need for China to spend the money fixing its own domestic issues leading to a significant slowdown in its ambitious global planning. “As the friend-set for China diminishes, particularly with the rising tensions with the West, they’ve got a bigger incentive to back their own friends, but they’ve got the added incentive to stimulate domestic growth because they’re under such serious pressure,” she said.

“They’ll be under so much pressure that I think stimulating the domestic economy will ultimately become more important for them.” Not only that, she says there are rumblings about China sending hundreds of millions of dollars abroad at a time when the nation’s people, many of them living in developing world conditions, are scraping by in the midst of an economic crisis.

The Kiel Institute, a German research group, has valued China’s lending to the developing world at more than $520 billion in recent years, meaning it has become a bigger lender than the World Bank or the International Monetary Fund. “Imagine you’re living in the hills in rural China, where you don’t have electricity or a proper road into town,” she said. “You’d want to see the money spent there instead.”

China is also facing pressure over the Belt and Road on an international stage as the nations that signed up are asking for some form of relief on their debt repayments.

The Chinese Communist Party (CCP) has been accused of employing a “debt-trap strategy” by countries like the US and India who say the Belt and Road Initiative is saddling poorer countries with debts they will not be able to pay off. About half of the nations which have signed up are considered high-risk debtors. Now the economies in those nations have gone belly up because of the global coronavirus pandemic, it is certain they won’t be able to pay off the debts they owe any time soon. What’s more, many of them are so poor they had to put up their ports and mines as collateral to secure funding.

According to a report in the New York Times, Djibouti - a small country on the horn of Africa - has debts to China which jumped to more than 80 per cent of its annual economic output. Meanwhile, Ethiopia’s debt to China totals 20 per cent of its annual output. In Kyrgyzstan, the amount is about 40 per cent. However, Professor Golley said the idea that China poured money into nations that they knew would collapse makes “zero economic sense” and there’s no evidence that’s the case.

Now she says China is “facing its own worst nightmare” as it watches economies failing in the nations it invested in so heavily in, while it suffers its own downturn. “I mean, what do they do? They’ve got their own economy crumbling and people in need of desperate need of financial support, but if they don’t come to the rescue of all the other countries they lose all that money as well,” she said. “So they’re going to have to strike a balance.” Aside from the money involved, one of the key goals of the Belt and Road was for China to gain allies across the world — a strategy to make friends and influence nations as it were. But now, in a COVID-19-affected world, it is seeing its reputation take a pummeling.

Western nations in particular are openly questioning its role in the coronavirus outbreak, after Chinese officials downplayed the severity and contagiousness of the disease at the beginning of the year. The country also bowed to international pressure this week and said it would back a review into the source of the virus pandemic, but only once it’s “under control”. In other words, China not only stands to lose money it invested globally but the trust and influence it wanted to gain through the Belt and Road Initiative in the first place.

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China: Approaching a cold war with America

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10:35 - 05/24/2020

 

On Sunday, China indicated it was close to a cold war with the United States of America amid heightened tension.

Chinese Foreign Minister Wong Yi said in a statement to reporters today that the United States is pushing relations with his country to the "edge of a new cold war," with escalating tensions over the emerging virus file and US accusations in this regard, as well as the status of Hong Kong, and other issues.

"We have learned that some political forces in the United States take Chinese-American relations hostage and push our two countries to the brink of the Cold War," he added.

Tensions are escalating between China and the United States on several levels, foremost of which is the Corona pandemic file that was launched from Wuhan last December. 

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1 hour ago, DinarThug said:

China: Approaching a cold war with America

 

That would be unfortunate if it comes to that.  They want a Cold War so they can do whatever they want.  China has major issues with transparency.  They need to stop ripping us off and abide by the rules they agreed to when they were allowed to join the WTO.  Either get back into compliance or go back to being a 3rd world country again.  

 

Thanks Thugs.  If this is more than Bluster then watch your 401 K’s folks. Even though we have made a great comeback we are far from being out of the woods of this Bear Market.  

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The Second Cold War Has Begun

DIARY / Jeff Lukens //  Posted at 7:59 pm on May 23, 2020 by Jeff Lukens

The People’s Republic of China hides its motives in a cloak of mystery. However, their contempt and disregard of others in the  Coronavirus pandemic has now torn away the shroud and made their ugly intentions clear. China has signaled its defiance to the international order and its willingness to overturn it. They are implementing a strategy to supplant the United States as the world’s dominant power, and to do so by 2049, the 100th anniversary of the PRC. 

Throughout the First Cold War, it was up to the United States to stand up for vulnerable nations and help those being set upon by the Soviet Union’s brutal force. Now that the Second Cold War is upon us, it is time to do it again against the tyranny of the People’s Republic of China. 

Following World War II, the US was transformed into a world superpower. World leadership had been thrust upon us in a way we could not avoid. It came to the US not only because of his preeminent military and economic power but because of the generous way we had employed that power in the world of desperate need and threat of Communist expansion. These principles remained true throughout the First Cold War. Today, no major issue of global peace or stability can be resolved without involvement by the United States.

For more than 40 years, the US has played a benevolent role in helping the Chinese government build a booming economy and taking its place on the world stage. We believed that China’s rise would bring us cooperation, diplomacy, and free trade. In the past year, however, it has become clear that China’s goal is to replace America as the dominant global power. By mid-century, their GDP may surpass that of the US, and hence gaining a commanding position.

Unlike Americans, whose time horizon rarely extends beyond the next election, China plays the long game. The Chinese are willing to wait out difficulties as long as trends are moving their way. They seek victory through incremental moves designed to gradually improve their strength, by both legal and lawless means, until it grows into an overwhelming advantage. They wish to avoid a hot war by winning it without firing a shot.

Over the years, American consumption of Chinese products has grown to the point we are now financing their entire annual defense budget with just a few months of what Americans contribute to their trade balance. They sell us inexpensive merchandise to finance their military buildup while viewing us as their principal foe. And then they cyber-hack our submarine and fighter plane designs and reproduce them at a fraction of the cost to oppose us.

As the Chinese economy modernized, we had hoped that political liberalization would follow. We had hoped economic integration in the world would moderate the Chinese Communist Party’s autocratic government into a democracy focused on internal development and peaceful economic competition, but that has not happened. China is a significant trading partner, but the country is not our friend or anyone else’s. 

The lack of transparency about the Coronavirus crisis with China is a prime example of the differences between the two national visions. All civilized nations deserve full transparency to resolve a calamity of this sort. This is the way we operate. On the other hand, China operates in secrecy, guarding their reputation and power against the rest of the world while causing a horrendous worldwide pandemic. 

The US bases its foreign policy on alliances with other like-minded democracies. China, on the other hand, has no natural allies. They are a power unto themselves and any partners they may have comply with them only by threats and intimidation. 

For example, China is undertaking the Belt and Road Initiative to spread its influence and power, which involves dozens of countries in Asia and the Middle East. China provides assistance and loans and workforce to construct public works programs in these nations, many of them distressed Third World countries. It involves projects like roads, airports, railroads, pipelines, electrical facilities, hospitals, and so on. If the loans go into default, which is likely,  China then takes control of those finished projects. The country then becomes owned and dominated by China from that point onward. This program also enables China to establish military and diplomatic bases in these nations. 

We have been naïve to believe we can hasten democratic reform in China by opening our markets to them. It may never happen. We must be prepared to enter into a new Cold War with China in the same ways as we did with the Soviet Union. We need to recognize that China is not our friend and prepare accordingly. We must grow our military and improve our intelligence and counterintelligence operations. We need to strengthen our alliance with Pacific Rim nations and demand that China begin democratic reform. China’s ruthless rise to dominance is a clear danger to America and free people around the globe. 

For America to succeed in the Second Cold War, business and government agencies’ data and intellectual property need to be stringently protected. Tariffs and even boycotts of Chinese goods, and a costly American arms buildup will be necessary. It will be a heavy lift. Hardest of all will be the need for a long-term bipartisan effort that lasts through the end of the Century.

As nations around the globe see the two superpowers square off, many will undoubtedly be forced to pick one or the other with which to align. So which way would nations in Europe, Africa, Latin America, and the Pacific Rim choose? American style freedom and human rights, or cheap merchandise and intimidation from a thuggish PRC? The answer to that choice will go far in determining the state of the world for generations to come. 

A whole generation of US government officials and China experts have gotten China completely wrong. For decades, the US policy toward China was grounded in wishful thinking. We must approach China as it is, and not as we might wish it to be. Getting our China policy right is the most significant US national security challenge of the 21st Century. We must approach the Second Cold War with all the determination and commitment that we approached the first one.

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The international coalition hands over five sites to Iraq and warns of "a group escape" for ISIS

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25th May, 2020


The Inspector General of the "Pentagon" revealed, today, Monday, the handover of five international sites led by the United States to the Iraqi forces after "tension with Iran", warning at the same time of a "mass flight" of ten thousand elements in the "ISIS" organization From prisons.

The Pentagon's Inspector-General said in a new report that "the international coalition forces to fight ISIS and the Resolved Torque Division have handed over five military bases to Iraqi forces, which include an airport in Mosul and a strategic military center near the Iraqi-Syrian border known as Al-Qaim."

The inspector attributed the reason for this measure to "increasing tensions between the United States of America and Iran, and attacking a number of American and coalition forces' positions after the American strike that led to the assassination of Qassem Soleimani, commander of the Quds Force of Iran's National Guard, in early January." 

"The tensions between Iran and its armed factions with the United States led to the rapid transfer of several bases to the Iraqi forces and a focus on issues of force protection," the report published by the newspaper, "Asharq Al-Awsat," Saudi Arabia, indicating that "from March 17 From March to the thirtieth of it, the United States handed over 4 military bases to Iraqi forces, including an airport near Mosul and a strategic center near the Iraqi-Syrian border known as al-Qaim, and last April, the coalition handed over the fifth base, which is airborne.

He pointed out that the important "solid resolve" operations led by the United States to defeat ISIS in Iraq and Syria, confirmed in many news statements that the transfers were planned long ago in basic transfers, and were the result of successful strikes against ISIS. However, in the last inspector general's report, the coalition acknowledged that al-Qaeda's transfers were planned despite a long period earlier It was accelerated "in part because of increased threats from Iraqi factions affiliated with Iran," he said.

Iran responded to the assassination of Soleimani by firing missiles at American military headquarters and the headquarters of the international coalition, which resulted in the injury of dozens of American forces stationed in two bases in Iraq, and two American soldiers and a British element were killed when more than a dozen rockets landed on the Taji camp last March. The Inspector General of the Ministry of Defense stressed that "the threats coming from the malicious parties required a change in focus from the operations of defeating (ISIS) to imposing protection on military bases."

The report pointed out that the coalition work teams stopped interacting face-to-face with its Iraqi partners, and ground travel to some locations was halted due to the spread of "Covid 19" disease. He acknowledged that the new Corona virus caused the disruption of the Iraqi and Syrian partner forces, as Iraqi forces stopped training, while the Syrian Democratic Forces stopped their operations against ISIS militants due to the epidemic.

The report warned that more than 10,000 ISIS fighters could escape from the prisons of the US military allies in Syria. He pointed out that the SDF is currently holding about two thousand foreign fighters from "ISIS" and about 8,000 Iraqi and Syrian fighters in 20 detention centers, and there is a risk of a mass escape.According to the Inspector General's report, ISIS has approximately 14,000 to 18,000 followers in Syria and Iraq.

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A mysterious fate of the Chinese silk road project after Corona

 
- 3 Days Past
 
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The emerging epidemic of Corona virus (Covid 19) burdened the economies of the world, and with the major global economies affected, developing countries are in a more vulnerable position, among them the countries of Africa and the Middle East that are already teeming with multiple problems, including protracted conflicts and widespread internal political tensions And economic crises. These countries are the very foundations of the massive Chinese project, the "Silk Road" or "Belt and Road" initiative, which involves spending a trillion dollars in construction and investment aid in more than a hundred countries across Central Asia, Africa and Europe.

The project combines the economic belt by the Silk Road and the sea route that connects China to Europe via Southeast Asia, Central Asia and the Middle East, and covers 70 percent of the world's population and 75 percent of known energy reserves. The Kiel Institute, a German research group, estimates that China lends to the developing world some $ 520 billion or more, most of it in the past few years, making it a larger lender than the World Bank or International Monetary Fund.

As far as the Middle East is concerned, over the past seven years, according to the China Global Investment Tracker index, which specializes in investment movement, Beijing has invested an estimated $ 93.3 billion across the Middle East, mainly in energy ($ 52.8 billion), real estate ($ 18.4 billion), transportation ($ 18.6 billion), and utilities ($ 5.9 billion). This figure is expected to grow significantly over the next decade, as the Silk Road strategy enters its next stage.

The dilemma of the economy and loans.
But, in front of the huge economic ambitions of the Chinese dragon, the deadly virus that first appeared in the Chinese city of Wuhan in December 2019, and spread to all parts of the world, to throw a major dilemma for Beijing’s ambitions. The dilemma faced by the giant Chinese project is represented in several challenges, starting with the suspension of projects in light of the closure strategy pursued by most of the countries of the world, to stop the spread of the virus, through stopping the movement of air traffic, and reaching the debt crisis related to the loans of countries and companies working in the projects of the initiative, Amid the economic losses it faces at home.

In a report released last Friday, the Asian Development Bank expected that the losses of the economic crisis caused by the emerging Corona virus will exceed eight trillion dollars, including Asian losses ranging between 1.7 and 2.5 trillion dollars, while the losses of China alone will range between 1.1 and 1.6 trillion dollars, according to To the bank. These expected losses are between 6.4 percent and 9.7 percent of global GDP, which is worse than the expectations announced last April, as the bank suggested it to reach between 2 and 4.1 trillion dollars.

In response to the outbreak of the coronavirus, the Chinese government turned into a series of severe measures to control the spread of the virus, as it stopped international travel, imposed quarantine on cities, and imposed closures across the country, which led to expectations of a slowdown in the Chinese economy, and according to some expectations Even under the most stringent stimulus measures, China may not be able to achieve three percent growth this year, which will have implications for the country's ambitious Silk Road strategy, according to the Middle East Institute for Studies in Washington.

The China Development Bank recently announced that it will provide low-cost loans to the affected companies involved in the Silk Road projects, although these loans are supposed to go mainly to Chinese companies. The Asian Society Policy Institute also states that the Silk Road projects depend mostly on Chinese rather than domestic materials and supplies, so the outbreak of the virus affected the Chinese manufacturing supply chains on which these projects depend, and the epidemic has undermined global supply chains that maintain Its business continues, limiting the flow of goods outside China to the extent that Beijing suffers a trade deficit during the first two months of the year.

Not only that, the coronavirus has disrupted the global shipping industry, which slowed to a lesser degree than during the worst points of the 2008 financial crisis. More than 130 countries around the world have imposed restrictions on the entry of Chinese citizens traveling from China. The longer a period of Chinese workers cannot return to the Silk Road projects abroad, the longer the incomplete projects will increase, causing them to be abandoned altogether. The Middle East Institute says the spread of the Corona virus "has had a direct impact on Beijing's projects for the Middle East Silk Road Initiative."

Rethinking the partnership
, he adds, in a recent report, “Restricted travel bans and the closure of ports and flights prevented Chinese workers from returning to work sites in the region, while the closure of Chinese factories responsible for machinery and raw materials for the initiative’s projects hindered projects from moving forward” . These disturbances and others cause delays, lack of deadlines, and increased costs for building infrastructure, which local economies may find difficult to absorb.

A report issued last April by the Fitch Solutions Research Department of Fitch Ratings said that “a project between China and Malaysia and a high-speed rail project in Thailand, funded by Beijing, is already suspended.”

Although the epidemic is unlikely to have a lethal impact on the implementation of the initiative's projects, according to the American Institute, the rapid and deadly spread of the disease will cause governments to "rethink the risks associated with more integration and economic dependence on China's infrastructure-based development strategy."

These circumstances, in addition to Washington's anti-China campaign due to its mishandling of the virus crisis from the beginning and concealing information about the transmission of infection from one person to another, could lead some countries to reconsider Beijing's participation in its major initiative.

Not only is China 's reputation at stake , another side of the fiercest side is the billions of loans that China has provided to poor countries as part of this massive initiative. According to a report recently published by the New York Times, poor countries want Beijing to forgive it or renegotiate loans due to the suffering of their economies in light of the spread of the Corona Virus, and while an option like that will be costly to Beijing, the refusal will seriously harm its global image, especially in light of the stigma Its connection to the epidemic that affected the world's population.
In comments to Agence France-Presse, Marie-Francoise Renard, director of the Institute for Economic Research in China (IDREC), said, “It is a difficult budgeting process. China did put in place a number of measures to support its economy last year, but the epidemic forced it to spend more, which reduces its budget to maneuver.” ”

Pakistan, Kyrgyzstan, Sri Lanka and a number of African countries have asked China to "restructure" billions of dollars in loans, "defer payment" or "waive tens of billions of dollars" of loans due this year.

In comments to the British Financial Times, a researcher with the Chinese Development Bank said, "The Policy Bank" which leads several loans for the projects of the initiative: "We understand that many countries are looking to renegotiate the terms of these loans. It is a process that takes time, ”he added.“ These loans are not foreign aid. There is a need to understand about it. ”

However, Renard believes that Beijing can overcome these challenges in Africa, and she said that the majority of African countries "believe that there is much more to be expected from China, which has so far helped it to develop more than the United States or Europe", and indicated that these countries will not The door was closed to the Silk Road initiative, unless "it encounters direct problems with Beijing, or believes that the benefits of infrastructure projects will not materialize."

Engy Magdy

Independent Arabic

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With the development of financial technology in China .. How will the future of the dollar?

- 18 Hours Ago
 
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75 years after the end of World War II, the dollar has not lost its hegemony. In late March, global financial markets collapsed amid the chaos of the Corona Virus pandemic, international investors immediately took refuge in the US dollar, just as they did during the 2008 financial crisis, and the US Federal Reserve system was forced to provide huge amounts of dollars to its global counterparts.

In his report published by the American Foreign Affairs magazine, the author Henry Paulson said that the permanent domination of the dollar was noticeable, even with the rise of emerging markets and the relative decline of the American economy from about 40% of global GDP in 1960 to only 25% at the present time .

But we can assess the dollar’s position through Washington’s ability to overcome the Covid-19 virus crisis, and create economic policies that allow the country to deal with its national debt and reduce its structural fiscal deficit.

Indeed, the dollar’s position is important, as the role it plays as a major global reserve currency enables the United States to pay lower fees for dollar-denominated assets than it would do with assets denominated in another currency, and the dollar enables the country to manage a greater trade deficit, as well as reduce Exchange rate risk, and makes US financial markets more liquid.

The writer mentioned that maintaining the dollar for this position for a long time is unique in history, especially in the context of the rise of China.

He said that the Chinese yuan is by far the most currency that has the potential to compete with the role of the dollar, and factors - such as the economic size of China and expectations for its future growth and integration into the global economy and the relentless efforts to internationalize the yuan - contribute to expanding the role of the Chinese currency.

The digital yuan,
but these conditions are not sufficient in and of themselves, and China's financial technology successes will not change the position of the dollar, including its rapid deployment of mobile payment systems and the recent pilot project launched by the People's Bank of China to test the "digital yuan".

The writer said that there are still major obstacles that Beijing must overcome before the yuan becomes truly a major global reserve currency. China needs to make more progress in its transition to a market-driven economy, and to develop efficient and well-organized financial markets that are respected by international investors, so that it can abolish capital controls and convert the yuan into a currency that determines its market value.

On the other hand, Washington should be careful about the risks involved with its rival with China, and it should maintain its leadership role in financial and technological innovation. But there is no need to amplify the effect of the Chinese digital reserve currency on the US dollar.

More importantly, the United States must maintain the conditions that created dollar dominance in the first place. In short, the author says that maintaining the dollar’s position does not depend on what is happening in China, but rather depends almost entirely on the ability of the United States to adapt to the post-Covid-19 economy, in order to maintain its image as a model of success.

Financial technology
The writer explained that many of the people returning from China have noticed how the country has reduced its dependence on cash, as all transactions are now carried out via smart phones and rapid response codes. Chinese financial technology companies have become increasingly competitive, and Chinese consumers are the most users.

Based on these data, critics argue that the dominance of Chinese financial technology could threaten the dollar's global standing soon. Indeed, China was not a leader in financial technology, but rather was quick to adopt and refine this technology, according to the author.

He adds that the difference between the United States and China is that Americans are still loyal to credit cards, because their use is smooth and safer.

The writer mentioned that Chinese technology companies have promoted innovation to meet consumer demand and make up for the shortage of the country's financial infrastructure. Chinese companies have also started spreading these technologies to developing markets that encouraged their emerging economies to accept the use of smartphones for various financial transactions, which allowed Chinese companies to obtain market share.

Figure vs. role
Although the Chinese central bank can launch a digital currency early this year, headlines are overestimating the shifts.

The writer says, "Those who fear that this development will represent the end of the superiority of the US dollar, misunderstand the fact that the shape of money may change, but its color does not change." He adds that although the Chinese government has encouraged the use of the yuan to settle trade transactions as part of its currency's marketing strategy, oil and other major commodities are still priced in US dollars.

The writer notes that for the time being, the "natural monopoly" of the US dollar may seem to be a component of the dollar system, but over time, it is likely that the international monetary system will again be given equal relative importance to two or more global reserve currencies.

The yuan is the main competitor, given that it is already considered a reserve currency along with the yen, the euro and the pound sterling, at a time when the Chinese economy will become the largest economy in the world in the future, and it will also be the first major economy to recover from the Covid 19 crisis.

The writer believes that although the digital currency promoted by Beijing is unlikely to undermine the dollar, it is certainly able to facilitate China's efforts to market the yuan.

Besides, Chinese companies such as "Tencent" which have wide influence in developing countries in Africa and Latin America, can strengthen their presence in these regions, allowing the digital yuan to gain market share in the future. That, this can help boost the yuan's global position and become part of a broader strategy to highlight China's economic and political influence abroad.

Chinese superiority
In the context as well, the authors, Aditi Kumar and Eric Rosenbach - in a separate report in the American magazine "Foreign Affairs" - that the "digital yuan" project that is currently being developed in four of the major Chinese cities, is a clear indication that China has been outperforming years in The United States is developing this currency which is expected to be a pivotal tool in the global digital economy.

The authors add that China will use a combination of digital yuan and powerful electronic payment platforms to expand its influence and enhance its economic penetration capacity in Africa, the Middle East and Southeast Asia.

The authors consider that the emergence of digital currencies may erode the effectiveness of US sanctions, and limit the options available to them to deal with the security threats posed by countries such as Iran, North Korea, and Russia, and that these transformations also may hinder the ability of the US authorities to track the flow of funds illegally.

The authors continue that the Chinese development necessitates the launch of a digital dollar initiative, which efforts will bring governments and the private sector together to develop a national digital currency. Failing that, the failure to control the impact of the digital yuan, and the failure to develop a competitive American alternative, will undermine American hegemony over the world in the information age.

Digital yuan is another step by China to promote excellence in the field of finance technology
begins to outweigh the dollar from America itself
back writer Henry Paulson emphasizes that the United States needs to take seriously China as a real economic competitor, but when it comes to the superiority of the dollar, the risk The principal does not come from Beijing, but from Washington itself.

The writer says that the United States must maintain an economy that is able to gain credibility and confidence globally, and over time, failure to do so will threaten the position of the US dollar.

He noted that Washington should realize that unilateral sanctions - made possible by the dollar’s sovereignty - are not without risks, as armament of the dollar in this way can stimulate US allies and enemies to develop alternative reserve currencies, and perhaps even unite global powers to do so; This encouraged the European Union to push towards strengthening the position of the euro in international transactions.

Al Jazeera

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Negative interest rates What is their purpose and what does it mean to you?

 
- One Day Has Passed
 
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The Governor of the Bank of England confirmed this week that the bank is considering making its main interest rate negative for the first time in its history of 326 years, and it is far from inevitable, and many analysts still believe it is unlikely. But what is the purpose of it? What would the negative rates of financial condition mean for ordinary people if applied?

What did the governor say?

Andrew Bayley, during a hearing before the House of Commons Finance Committee last Wednesday, said negative rates were under "active review" by the central bank. "We look very carefully at the experience of central banks that used negative rates," he added.

What is the goal?

The basic logic behind making interest rates negative on the one hand, and behind the reduction in rates in natural times on the other hand is the same, and is to encourage the borrowing and spending of families and companies in various economic sectors.

If a reduction in rates from four percent to two percent stimulates the economy, it should do a reduction from zero percent to a negative two percent the same. There is a clear problem with the step in the current circumstances, because most people and institutions are still not able to actually spend as they do, due to the current closure.
However, some argue that negative rates will be beneficial later this year when the UK eases and the spread of monetary stimulus across the economy becomes possible.

Will the move succeed?

The Danish central bank made its interest rate negative in 2012, followed by the European Central Bank two years later and the Bank of Japan in 2016. The overall economic results in the eurozone and Japan were not surprising, although supporters of the move said performance would have been poor without them.

Research indicates that negative rates are counterproductive, as they harm the profitability of private commercial banks (such as "Lloyds", "Royal Bank of Scotland" and "Barclays"), and push them to reduce credit rather than expand it.

In recent years the Bank of England has always rejected proposals to make rates negative, claiming that it harms the profitability of private banks and building societies, but it is fair to say that economic evidence is a point of contention among economic professionals.

What will ordinary savers feel?

Negative rates mean that a fee will be levied on bank deposits with the central bank (rather than paying interest on them) in order to encourage banks to lend these funds to the wider economy. In theory, commercial banks can transfer some of the costs of these negative rates to the ordinary depositors, which means that people will not get interest on their savings, but rather pay a fee, and this is what happened to the big depositors at JSC Bank in Denmark.

However, most of the evidence from Europe and Japan indicates that commercial banks are not doing this, perhaps for fear that their clients may withdraw their money from them, and instead keep them in their homes in cash in safes or under the mattress.

Some economists already indicate that negative rates will not be fully effective until the abolition of material cash and ending the option of people withdrawing from the banking system.

What about borrowers?

Because negative reference rates are prevalent in private banks, these banks have the power to decide about their delivery to borrowers and how they can be delivered if this actually happens. This means that you are unlikely to give a discount on the current mortgages of borrowers.

JSC last year had already revealed a ten-year plan for negative interest rates on mortgages, but the fees it imposed resulted in people not actually getting any money for borrowing.

However, negative rates will encourage banks to make more mortgages for people compared to positive rates. It can also lower the interest rate charged on any new credit advanced.

Bin Chu

Independent Arabic

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Will the dollar lose its economic advantages amid demand for the launch of digital currencies?

 
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A recent report stated that the United States is threatened with losing a major aspect of its geopolitical strength with the increasing enthusiasm for the idea of digital currencies for central banks.

The report issued by "GB Morgan", that no country may lose due to the possibilities of creating a digital currency more than the United States. He added, "This is primarily about the dominance of the dollar, as the issuance of the global reserve currency and the medium of exchange for international trade in goods and services represents tremendous advantages."

Many central banks around the world are discussing the creation of their own digital currencies that are subject to official regulation, which differs from cryptocurrencies that are not affiliated with any central authority.

GB Morgan does not expect the dollar to fall from its position as an international reserve currency soon, but specialists believe that the most fragile aspects of the dollar's dominance, including trade settlement and the Swift system, could be in danger. They note that even allied countries such as the European Union may want to limit the influence of the United States on global payment systems.

The report pointed out that if other countries were able to circumvent the Swift system and the hegemony of the dollar, it would be difficult for the United States to implement its goals in sanctions and prevent the financing of terrorism. In February, US Federal Reserve Chairman Jerome Powell announced that the bank was doing a large-scale job of looking into digital currency issues.

A slight rise in the American paper with the Chinese crisis

In the currency market, the US dollar rose against a basket of major currencies, as concerns about renewed diplomatic tensions between the United States and China supported the demand for the dollar as a safe haven. The green paper benefited from the strained US-China relationship again over a wide range of issues, including China's treatment of Hong Kong, as well as the blame for Beijing over the global spread of the epidemic.

China plans to impose new national security legislation on Hong Kong after pro-democracy unrest last year, which was answered by US President Donald Trump that Washington would respond "aggressively" to this legislation. Washington and Beijing are also at odds over Chinese companies ’access to advanced US technology, as well as trade disputes that have returned.

Late yesterday, the dollar rose against the euro by 0.4 percent to the level of 1.0907 dollars, while it fell against the Japanese currency by 0.1 percent to hit 107.50 yen. The green paper rose against the pound sterling by about 0.4 percent to hit 1.2178 dollars, while it saw an increase against the Swiss currency by 0.1 percent to reach the level of 0.9718 francs.

During the same time, the main index for the dollar, which follows the performance of the green currency in front of 6 major currencies, increased by 0.4 percent to the level of 99.746 points.

How Trump abused the dollar?

In what a recent analysis stated, after three years of President Donald Trump's misuse of the United States' dominant position in the global monetary and financial system, his administration's disastrous response to the Corona epidemic could erode confidence in the dollar. And the analysis prepared by the "Project Syndicate" website stated that if the days of the "exorbitant concession" that accrue to the United States ended with the dollar being the international reserve currency, many other things will end.
With the start of the "Covid-19" crisis, the United States appears to have developed a severe case of what psychologists call a "separatist identity disorder"; They simultaneously show two different characters. On the one hand, the Federal Reserve assumed, from its responsibility, a leading role in international finance, as it did during the global financial crisis of 2008. Last March, it revived the lines of exchanging bilateral currencies with about 14 foreign central banks and introduced new repurchase facilities (repo). ) To a larger group of monetary powers. Consequently, it ensured an abundant supply of dollars with the world facing liquidity needs. Thus, he became again the lender of last resort in the world.

On the other hand, President Trump rejected the idea that international cooperation is necessary to combat Corona's impact on public health and economic activity. Trump remains committed to the "America first" principle, which means that other governments must look elsewhere for any aspect of leadership.

A narrow look and conflicting identities add to the crisis

And when given the opportunity, the Trump administration made it clear that it would act on its own. Only for the "national interest" as defined in the US President's narrow view of global transactions. The offer of conflicting identities is a sign of American incompetence, and it does not augur well for the dollar, the long-dominant currency in the world.

The longer the United States looks at two different faces, the more likely it will fall from its long position at the top of the international monetary and financial system. And in the end, how long will international investors and foreign governments trust in the currency of an increasingly unreliable partner?

And yet, there is little risk of a mass exodus to escape the dollar holdings today. As the Fed’s latest actions are in response to the high demand for the dollar (rather than protection against panic sales), this indicates that the Corona crisis has reaffirmed the dollar’s crucial role as the last safe haven, however, before the outbreak of the epidemic it was clearly evident Increasingly, investors and central banks are looking for alternatives to the “unpopular dollar standard,” due to the unpredictable behavior of the Trump administration, as well as xenophobia. All over the world, there is clear discontent with Trump's use of indiscriminate financial sanctions to punish countries like Iran, as well as any country that deals with it, including the United States' allies.

By using the dollar as a central weapon in international settlements, Trump has long been inviting others to respond to what he is doing. In particular, China has been increasingly proactive in strengthening the renminbi as an alternative to the dollar, at least by opening up its domestic $ 13 trillion (the world's second largest) bond market to foreign institutional investors. Likewise, European countries have launched a new mechanism specifically designed to bypass US sanctions on Iranian oil exports.

As the US currency bleeds too slowly, the epidemic will inevitably open the wound. This, in turn, will have far-reaching implications for the United States ’influence in the world and, ultimately, for its leadership of the international system in the aftermath of World War II. But of course, the dollar’s contribution to the strength of the United States is understandable, and as the world's dominant currency, Washington has long enjoyed what former French Finance Minister Valerie Giscard d'Estaing described as a “high lien”.

Why does America not make the dollar available to friends?

The analysis pointed out that as long as foreigners need a dollar, the United States can spend what it needs to project power around the world. Simply by accelerating currency printing. It can also exert more influence directly, such as making the dollar available to friends while depriving enemies of it.

But for the time being, Trump's volatile behavior and the pursuit of isolationism threaten to seriously undermine the geopolitical power of the United States. Once American power is widely seen as fading, the American currency will begin to lose some of its attractiveness and move a vicious circle of effect; A weaker dollar generates a weaker United States, which in turn generates a weaker dollar.

Indeed, the British pound followed a similar pattern in the twentieth century. The loss of the British currency in the international position influenced the decline in the authority of Britain from an imperial power to a middle island off the coast of Europe; Therefore, the dollar is not immune to the same kind of gradual decline, as the decline of the United States and the position of the dollar will remove one of the main pillars of the liberal regime after the war.

For many, this system was synonymous with the geopolitical hegemony of the United States, but in the absence of American leadership, competing political paradigms appear at the forefront, reinforcing nationalism, populism, and the various lines of "illiberal democracy". The divided US character will affect more than just Americans, except for the return to training in Washington, DC. It seems that the prognosis for the post-war regime centered on the dollar remains bleak.

Khaled Al-Minshawi

Independent Arabic

 
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American banks offer gold advice

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25th May, 2020


Some Wall Street giants and American banks are concerned about the extent of the US economy being affected by the Corona crisis, as they fear the future of the US economy in the short term.

Giant American banks such as GB Morgan and Goldman Sachs are advising their clients to invest in gold instead of the dollar, according to an article published by the agency, "Novosti." JP Morgan believes that the unprecedented monetary and fiscal policy measures all over the world may weaken economic growth in the long run and devalue the currency, thus supporting the value of gold. Bank experts indicated that the effect of this would be seen in the appreciation of the Japanese yen or gold instead of the dollar. Earlier this month, Goldman Sachs warned of a new downturn in the US stock market.

The chief strategist at the American Bank wrote in a review that the measures of monetary support that were taken last March to face the repercussions of the Corona pandemic prevented a financial crisis, but the recovery of the American economy will take a long time. The point here is not that the precious metal has suddenly become more attractive, but against the backdrop of unprecedented measures to stimulate the global economy to face the repercussions of corona and conditions of geopolitical turmoil, it seems that gold, in the opinion of American banks, is less vulnerable to fluctuations than the green paper (the dollar).

It is noteworthy that the price of gold witnessed an increase in the past years, and since the beginning of the year 2020 it rose by more than two hundred dollars per ounce, as it rose from 1552 dollars per ounce recorded at the beginning of last year to be traded now at 1746 dollars per ounce.

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Large amounts of monetary stimulus to help with the CV makes it an almost certainly of higher inflation at some point in our economy. ( 27T and counting, total US deficit). Whenever their is talk of higher inflation or a devaluation of the dollar gold becomes the safe play.   Maybe this is all part of the plan.  

 

Thanks  again for all the articles Thugs.  You are killing it lately. Very much appreciated.  

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7 minutes ago, Pitcher said:

Thanks  again Thugs.  You are killing it lately.


And I Might Even Be Able To ‘Kill’ A Few More - If I Can Continue With This Holiday Weekend Trancelike ‘Focus’ ! :o 

 

image.jpeg.63b6babe5818d4b69c11a8cef5c6aae2.jpeg

 

:D  :D  :D 

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Do whatever it takes to stay focused but don’t DRIVE!!!

 

If you do and get pulled over, know your ABC’s backwards.  Also, know how to “step bump, step bump bump”. And Never tell the cop you’re Drunk 😆 😝 

 

 

 

 

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