Friday, November 15, 2013

Lew to Meet with Wang Yang

Looks like serious global scheming and Treasury Secretary Jack Lew trying to muscle the Chinese on Ira and North Korea.

According to the Treasury, today, Lew will be in Beijing, China for discussions with senior government officials about the economic outlook in the United States and China. The Secretary will also discuss the implementation of international economic sanctions on Iran and North Korea as well as other issues related to combating illicit finance.

In the morning, Lew will meet with Vice Premier Wang Yang.

At midday, the Secretary will participate in a working lunch with Vice Premier Wang Yang and Finance Minister Lou Jiwei.

In the afternoon, the Secretary will meet with People’s Bank of China Governor Zhou Xiaochuan.

Also in the afternoon, Secretary Lew will meet with President Xi Jinping.

The Secretary will remain overnight in Beijing. He will depart en route Washington on Saturday, November 16.


  1. China's Stealth Move in the Currency Wars

    Five years on from the Great Financial Crisis and whilst it might feel like little's changed for us as individuals, different nations and their central banks are engaged in heated currency wars. In a race for exports and to inflate away huge debts it often looks like a game to print as fast as you can.

    However, amidst all this China is stealthily pursuing another strategy, little noticed by most in the West.
    Whilst ensuring her banking system has sufficient liquidity, China is quietly accumulating stunning amounts of gold bullion. The Chinese authorities are also actively encouraging their citizens to stock up on gold bars too. Some of the most powerful politicians, bankers and academics in China are overseeing China's gold plan.

    China has identified gold as a strategic financial asset and is acting on this conviction.

    Explaining China's gold fever

    What's the end game for China?

    In the short term China is looking to safeguard the value of her reserves, whilst in the medium and long-term she is looking to grow beyond American and Western financial power.

    To meet her goals in the short-term China has not just been buying gold but also mines and mineral interests around the world. She wants to own real assets during a time of heavy currency debasement.
    In the longer term gold is a crucial part of her strategy too.

    Understanding the power and privilege of owning the world's reserve currency - something the Americans have enjoyed for over 50 years - China is looking to make the yuan a challenger to the US dollar. China wants a future where more trade is conducted with her currency than the dollar and to achieve this she needs to make her own currency the more attractive option to use.

    Replacing the dollar


  2. There's an International Plan to Censor the Internet in the Works -- Let's Stop It in Its Tracks
    How the Trans Pacific Partnership making its way through Washington seriously undermines citizens’ rights to participate in a free and open Internet.

    Described by experts Lori Wallach and Ben Beachy of Public Citizen as “one of the most significant international commercial agreements since the creation of WTO”, the TPP is more than a trade agreement - it’s an underhanded attempt by old industry interests to censor the Internet.

    The lack of general awareness about the TPP is exactly what unelected trade officials and lobbyists hope for; the more covert the negotiations, the easier it is to usher in extreme new Internet censorship rules.

    The TPP’s extreme Internet censorship plan

    The changes proposed by the TPP could seriously undermine citizens’ rights to participate in a free and open Internet. We know from leaked drafts that these draconian measures could criminalize your everyday use of the Internet, force service providers to collect and hand over your private data, and give old industry conglomerates more power to fine you for Internet use. As opposed to fostering a global forum in which citizens can engage with one another, the TPP would stifle any kind of innovation within the Internet community.


    Zhou Xiaochuan

    Current and 11th governor of the People’s Bank of China (2002-)

    A vocal critic of the dollar-dominated international system he has called for global currency diversification.

    “From the perspective of the central bank, the development and improvement of the gold market will facilitate the improvement of regulating instruments for monetary policy and macro adjustment system. On the one hand, gold still bears the marked nature of money under the modern financial system.” (2004)

    In 2004, Zhou outlined three transformations that would take place in China’s gold market, ‘from commodity trade to financial product trade, from spot transactions to futures transactions, and from a domestic market to integration with the international market.’

    1. Hope China's plan is better than this:

      The Comex Fraud Is Growing Larger - 69 Times More Paper Than Gold

      The "eligible" gold account is the gold this being kept for safekeeping at the Comex vaults by investors who theoretically have title that gold. For the record, knowing what I know about big bank fraud, unequivocally do not believe that the entire amount of gold being reported by the big banks who operate the depositories is actually either physically in the vaults or has not been hypothecated via lease obligations by the banks who control the vaults. If it has been hypothecated, it might actually be there but the owners had lost their physical claim on the metal. See the court decision in the MF Global bankruptcy if you do not believe me. The owners of silver held by MF Global were deprived of their bars and are being settled in cash.

  4. If Lew is successful in convincing the Chinese to adopt Austrian economics, they will really be an economic powerhouse!

    Oh wait. Wrong Lew? Darn.

  5. Jack will get nothing out of this wang...