China Central Bank warns Federal Reserve over 'printing money'

[suchandra]

Looks like the Chinese don't print money?

 

China Central Bank warns Federal Reserve over 'printing money'

 

By Ambrose Evans-Pritchard – Telegraph.co.uk 26 May 2009

 

 

Richard Fisher, president of the Dallas Federal Reserve Bank, said: "Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature."

 

"I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States," he told the Wall Street Journal.

 

His recent trip to the Far East appears to have been a stark reminder that Asia's "Confucian" culture of right action does not look kindly on the insouciant policy of printing money by Anglo-Saxons.

 

Mr Fisher, the Fed's leading hawk, was a fierce opponent of the original decision to buy Treasury debt, fearing that it would lead to a blurring of the line between fiscal and monetary policy – and could all too easily degenerate into Argentine-style financing of uncontrolled spending.

 

However, he agreed that the Fed was forced to take emergency action after the financial system "literally fell apart".

 

Nor, he added was there much risk of inflation taking off yet. The Dallas Fed uses a "trim mean" method based on 180 prices that excludes extreme moves and is widely admired for accuracy.

 

"You've got some mild deflation here," he said.

 

The Oxford-educated Mr Fisher, an outspoken free-marketer and believer in the Schumpeterian process of "creative destruction", has been running a fervent campaign to alert Americans to the "very big hole" in unfunded pension and health-care liabilities built up by a careless political class over the years.

 

"We at the Dallas Fed believe the total is over $99 trillion," he said in February.

 

"This situation is of your own creation. When you berate your representatives or senators or presidents for the mess we are in, you are really berating yourself. You elect them," he said.

 

His warning comes amid growing fears that America could lose its AAA sovereign rating.

www.telegraph.co.uk/finance/financetopics/financialcrisis/5379285/China-warns-Federal-Reserve-over-printing-money.html#

[AncientMariner]

Here is post from one of the conspiracy sights. The guy that posted has posted mountains of information in regards to the government, military and a lot of these corporations coordinating a basic takeover of America through a new internet.

 

 

In regards to Internet2:

As Alex has said, they always have more than one purpose for what they do.

 

A. This is a lockdown, and response to preserving their "Federal Reserve" from the people.

B. This is a lockdown to kill speech on the internet, and change over to internet 2.

 

Anything else, you guys want to add.

 

 

C. This is required to enforce the cashless society. What a coincidence with the timing of the financial implosion.

 

D. The protocol of I2, being IPv6 is the foundation upon which the architectures built by the NWO can have full interoperability across all sectors. It is what makes NLOS weapons possible (No Line Of Sight) - to which just having GPS coordinates (probably even more advanced than GPS also) they can launch weapons from any location. This will turn the US and the world into a continuous active battlespace of permanent warfare until the NWO decides otherwise.

 

E. Also I2 along with the architectures built upon utilizing IPv6 will be the foundation for the "new economy" for the NWO. The same military takeover C2 systems that were used to execute 911 are being fully integrated into shipping, exports, imports, transportation, manufacturing, etc. This serves as the means to have much higher efficiency by having systems remove humans from being needed to perform jobs to a far greater extent than that which now exists, and thus this also ties into the reason why they don't need us and want us dead. Nano-factories will literally replace all human labor making humans obsolete (of course except for the elite, who should apply their psychotic murderous pathology onto themselves.)

 

In short, hell on Earth. but then again when we read Daniel chapter 7 and Revelation, things become real very fast. The NWO is the final culmination of sin, the pinnacle of of what happens when human beings completely sell out to the Devil. Even the NWO are slaves, to him--who they think is their liberator against what they perceive as a "cruel God" to quote Bill Cooper (RIP).

Logged

[Smiley]

Of course everyone prints money but the United States wants to do it to an extent that has the Chinese worried. And they have a right to be - China has over 2 trillion dollars invested in the US. If the United States goes on this printing spree they fear that it will cause inflation, weakening the US dollar against other world currencies, thus making Chinese assets worth less.

 

 

Looks like the Chinese don't print money?

 

China Central Bank warns Federal Reserve over 'printing money'

 

By Ambrose Evans-Pritchard – Telegraph.co.uk 26 May 2009

 

 

Richard Fisher, president of the Dallas Federal Reserve Bank, said: "Senior officials of the Chinese government grilled me about whether or not we are going to monetise the actions of our legislature."

 

"I must have been asked about that a hundred times in China. I was asked at every single meeting about our purchases of Treasuries. That seemed to be the principal preoccupation of those that were invested with their surpluses mostly in the United States," he told the Wall Street Journal.

 

His recent trip to the Far East appears to have been a stark reminder that Asia's "Confucian" culture of right action does not look kindly on the insouciant policy of printing money by Anglo-Saxons.

 

Mr Fisher, the Fed's leading hawk, was a fierce opponent of the original decision to buy Treasury debt, fearing that it would lead to a blurring of the line between fiscal and monetary policy – and could all too easily degenerate into Argentine-style financing of uncontrolled spending.

 

However, he agreed that the Fed was forced to take emergency action after the financial system "literally fell apart".

 

Nor, he added was there much risk of inflation taking off yet. The Dallas Fed uses a "trim mean" method based on 180 prices that excludes extreme moves and is widely admired for accuracy.

 

"You've got some mild deflation here," he said.

 

The Oxford-educated Mr Fisher, an outspoken free-marketer and believer in the Schumpeterian process of "creative destruction", has been running a fervent campaign to alert Americans to the "very big hole" in unfunded pension and health-care liabilities built up by a careless political class over the years.

 

"We at the Dallas Fed believe the total is over $99 trillion," he said in February.

 

"This situation is of your own creation. When you berate your representatives or senators or presidents for the mess we are in, you are really berating yourself. You elect them," he said.

 

His warning comes amid growing fears that America could lose its AAA sovereign rating.

www.telegraph.co.uk/finance/financetopics/financialcrisis/5379285/China-warns-Federal-Reserve-over-printing-money.html#