CHINA’S BRETTON WOODSOctober 29, 2015
Mr. L.B. sent me this article about developments China is fostering, and, more importantly, the efforts of Western meddlers (like Mr. Soros), to save their crumbing system: here's the article:
Note the statements attributed to Mr. Soros, whose meddling hand is deeply implicated in the Ukrainian mess:
During The Bretton Woods Committee Annual Meeting 2015 a discussion between investor and philanthropist George Soros and Committee Co-Chair James D. Wolfensohn on the future of the Bretton Woods System was organized. Acoording to the Committee’s website; ‘Soros remarked that the Bretton Woods institutions (IMF and World Bank -WM) have now “lost their monopoly,” and the world has broken into two “rival camps.” The extent of cooperation between the new “Beijing Consensus” (e.g. AIIB, etc.) and the existing Western-led institutions will have a profound impact on the world order. Soros also expressed his belief that a stable economic and geopolitical future rested on the transition of China from a production and export-based economy to a domestic consumer and import economy – a transition that the Bretton Woods Institutions and the U.S. should help facilitate by allowing the renminbi to join the IMF’s basket of currencies. In return, China should make concessions to reform including accepting the rule of law. In Soros’ view, this will create a “binding connection” between the two camps and is necessary to avoid the possibility of China aligning itself with Russia and the real threat of a third world war.’
It really is amazing sometimes to watch these plutocrats tiptoe through the tulip field of their own euphemisms, as if by muttering phrases such as "rule of law" and "binding connection" their now well-known and tiresome playbook isn't fully obvious. In the case of the referenced remarks of Mr. Soros, the flower-strewn march of euphemisms boils down to this:
- We don't like China;
- The US dollar's days as a reserve currency may be numbered;
- China is an industrial powerhouse, and therefore, we must de-industrialize it and turn it into the service-sector swamp, just like we did to the USA;
- We don't like China because we don't want anyone else to be above the "rule of law" except ourselves;
- We need to bind China into our international system;
- We don't like China;
- We don't like Russia either;
- (We really don't like Russia);
- We don't like this Russia-China cooperation, and we must break it apart;
- So we'll dangle accepting the reminbi into a "basket of currencies" like the IMF's SDRs(special drawing rights), so that we can gain control over China, because
- We don't like China; and
- We don't like Russia either.
I rather suspect that the Chinese, having a few centuries' experience of dealing with the western plutocracy, realize what Mr. Soros's game is, and that he is simply speaking for an endangered class.
In the wake of the Chinese intervention in Syria on Russia's and Assad's side, all one can say is, "yea, good luck with that Mr. Soros."
Our high octane speculation? Watch for China to string out the game until the point that it dictates the terms, not Mr. Soros.
See you on the flip side...