THAT CHINESE DEVELOPMENT BANK THING
On last Thursday's News and View from the Nefarium I talked about JP Morgan's electronic software surveillance scheme. But that's not the only thing the Nefarium is up to these days. The other thing, as many of you have pointed out in your emails, is that Chinese Asia development bank. And this time, the news is is so bad for Washington - at least in terms of its "traditional allies" - that one is almost inclined to disbelieve it. Indeed, it's so unusually bad that it was reported, with just the right amount of hidden current of gloating, by Russia's Sputnik magazine:
Et Tu, Brute? Israel Latest US Ally to Join Chinese AIIB
If this goes through, then Israel would joina growing list of US allies that appear to be jumping ship to join the AIIB:
30 countries approved to join AIIB as founding members: China
As the second article points out, Washington exerted pressure - to no avail - on powerful European allies Britain and Germany not to join the bank:
"Australia, UK, Germany and other countries which stayed away after US expressed concerns over its transparency signed up to the Bank much to the chagrin of Washington."
Washington's concern over the AIIB's "transparency" seem oddly placed, given the situation at Washington-approved international development banks like the BIS, IMF, or World Bank, and given the New York Federal Reserve's reticence to repatriate the German gold (which, incidentally, you'll recall Germany now wants all of its gold back). Japan appears to be the shill of choice to express concerns of the AIIB, as the second article also points out:
"While Japan today declined to join the new Bank citing concerns over debt sustainability, environmental safeguards, US kept China guessing as Treasury Secretary Jack Lew who held talks with Chinese officials here yesterday promised American cooperation for the new Bank but no announcement has been made so far.
"Japan Finance Minister Taro Aso said that his country has concerns about governance at the AIIB, specially its debt sustainability, environmental and social safeguards.
"'Unless these conditions are secured, Japan has no choice but to be very cautious about joining,' Aso said.
"Japan, a dominant member of the Asia Development Bank, (ADB) sees AIIB as a competitor." (Emphasis added)
Japan citing concerns about "debt sustainability" while it has ratcheted up its own sovereign debt into the stratosphere is, again, of a piece with Washington's own concerns over its "transparency." Even more oddly, having failed to prevent the major European powers from joining the bank, it now appears to be ready to "cooperate" with it.
So what's going on? My high octane speculative intuition tells me that this is a multi-levelled game. At one level I strongly suspect that, at least for the European powers and particularly for Germany, the move to join the bank is a genuine reaction against growing US unipolarism, manifest most recently in the Ukrainian fiasco and the sanctions against Russia. Germany's difficulties repatriating its gold can only have added fuel to the fire, at least, behind closed doors. At another level I have also stated that I suspect that the European powers have suspected for some time that there is a hidden financial structure within the western system, designed to fund both covert operations and American secret black projects research and development. Germany in particular would have some historical knowledge of this since, as I have argued elsewhere, it was established in part with Axis loot kept off the books after the war. Thus, at this level, having one foot in the system that China is trying to build would be a means to leverage greater influence within the Western system and perhaps even to expose this system. The fact that Japan is not joining this effort may also have historical roots in the notorious Tanaka "57 bonds" affair, when the Japanese government itself issued fraudulent bonds on a hidden bonnd market(See my book Covert Wars and Breakaway Civilizations). At yet another level, however, that influence can work both ways, and countries like the United Kingdom (itself a thermonuclear power) and Germany (a de facto one) could connceivably be agents of influence for Washington in the Chinese bank. Washington appears to have accepted the inevitable, as the above quotation indicates, and is now seeking to "cooperate" with the Chinese, leaving the question open as to what the Chinese may have said privately to Washington to convince it to cooperate. Finally, at yet another level, one has the possibility that what is being erected is systemic redundancy, as suggested by former Assistant Secretary of Housing and Urban Development Catherine Austin Fitts. And of course, this would also mean that these developments are yet other incremental steps toward the introduction of a global currency.
Time alone, of course, will give an indicator which of these scenarios, if any, are true. But the bottom line is that, for the moment, it is another blow to American economic and geopolitical unipolarism.
See you on the flip side...
(My thanks to Ms. M.W. for these articles and to all others who sent related stories)
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Reverse Projection by the PTB[Powers That Be].
“As Gazprom CEO Arrives In Athens…
Coincidently…
EU Files Anti-Trust Charges Against Russian Giant”.
– Zero Hedge
I wonder about these Foreign Free Trade Zones set up in every state. Which would help with setting up a world currency. Another money maker for black ops too, so many agendas and the race to run, what fun they must be having keeping it straight.
http://enforcement.trade.gov/ftzpage/letters/ftzlist-map.html
Canada is likely to join thus defying the US warning:
http://business.financialpost.com/news/economy/canada-reveals-its-actively-considering-joining-china-led-asian-bank-aiib
The opening session of the first AIIB meeting:
After some formalities and some banter over the high ideals of this new development bank, The Israeli representative to the AIIB takes the floor:: “First order of business: the State of Israel has in its possession the highest state secrets of the United States government. We have the entirety of their nuclear launch codes, backdoor access to the computer programs of every department within the US government, as well as current and future itinerary of the entire air and naval fleet including submarines, along with the capability to hack them. Moreover, we have the location and function of all underground facilities and space based satellites. Also of significance, the state of Israel has compromising information on nearly every elected and appointed official of any importance in the US government as well as full surveillance capability of said officials. In summation, there is no secret of the United States government that we do not hold.”
After a momentary stunned silence followed by a flurry of whispered conference among the other AIIB members, the chief Chinese representative asks: “How much would the Israeli government want for this information and access?”
The Israeli banker replies: “How much does the bank have?”
LOL!
Deadly Accurate; pitched expertly into the strike zone.
Excellent stuff Frankie, you need a manager.
Yes, good writing Frankie, and accurate!
And Israel….gets its chair at the table
thus everything all bases covered
AIIB, BRICS Development Bank and An Emerging World.
http://williamengdahl.com/
Good article!
His web site is a good source for geo-political info.
Also good individuals sites are;
http://michael-hudson.com/
[economics]
http://ellenbrown.com/
[banking]
http://sjlendman.blogspot.com/
[current events]
And so it was that the same guys who gave up the perennial two-party electoral system came up with a plan to create a mass exodus of defector nations thrusting them into the ready and waiting arms of the new Chinese bank alliance which they also controlled. “. . . . another blow to American economic and geopolitical unipolarism.”? I say, same house, different wallpaper.
Typo, sorry. Should read “same guys who gave US the two-party . . .
I’d just like to see Christine Lagarde get the pink slip. Just the other day when asked if Greece paid their installment back to the IMF, she said “YES, I GOT MY MONEY BACK”, she makes Hillary Clinton look like an amateur.
Now Your Talking My Kind of Language!
Make them believe you’ve lost the game, while making the other execute the game plan for you
From my perspective:
Bad News for China.
Let’s face it Uncle Sam is a drunken grandpa, wandering around the neighborhood, in his underwear with a gun.. We’ll see what happens when there is more of a pretence of competition / Capitalism via the AIIB. This may be a coordinated event. Where there will be a WRC change and currencies will find new levels. I am sure that our less than stellar behaviour on the world stage greased the skids for the AIIB. It will be interesting to see just what consequences follow.
That is an insult to drunken grandpas everywhere, especially myself.
My gun isn’t loaded (honest osshifer). I tell the truth, and my underwire is by Tommy Hillfiger (monogrammed).
Also, I don’t believe truth is treason and understand the difference between the means and ends.
But seriously folks, my appreciation to most humor and insights here, especially Marcos, Robert, Down Under, and a host of others. Thanks, friends.
And let us not forget the Big Bopper himself, Joseph P., a beacon of sanity and integrity in a strange, strange world.
Japan must really be under the boot of the USA to be it’s mouthpiece spouting anti-Chinese development bank propaganda. That in light of the seventieth anniversary of the atomic bombings of Nagasaki and Hiroshima is less than four months from now this year. Well the rats are abandoning the sinking ships of the IMF,BIS, World Bank throwing the USA onto the tracks of a oncoming train or under the bus.
The funny thing is Joseph, that the Asia infrastructure bank is tiny. They’re only talking about $100 billion. So perhaps the strategy was to knock out this pawn while keeping its bloc together.
I agree with your assesment… the markets are positioning themselves for an attack on the emerging markets asset class… as flows dry up and yields rise… this initiative will amount to nothing and will only make the usd dollar look stronger against the global basket case of currencies within the fiat universe…
This asian infraestructure theme has been touted at conferences and roundtables by bankers for the last two decades… it is completely unrealistic to expect anything like this to take off at this late stage in the game… China is in no position to launch a Marshall Plan or anything along those lines.