Yukio Hatoyama is Japan’s new leader. He officially took office last Wednesday, and he is already threatening to split with the United States.
Hatoyama blames America for the global economic crisis and says that the U.S. is responsible for “the destruction of human dignity.” He campaigned on protecting traditional Japanese economic activities and reducing U.S.-led globalization.
During the run-up to the election, Hatoyama’s finance minister told the bbc he was worried about the future value of the dollar, and that if his party were elected in the upcoming national elections, it would refuse to purchase any more U.S. treasuries unless they were denominated in Japanese yen.
Japan is the world’s second-largest economy. It is also America’s second-most-important creditor. The U.S. government owes Japan over $724 billion! The only nation America owes more money to is China ($800 billion). The U.S. also imports $140 billion worth of goods from Japan each year.
If Japan were to follow through with its threat to only lend in yen, the dollar would probably fall hard. What would that mean? America gets more expensive consumer goods, higher unemployment, and currency inflation. If other nations like China follow suit, we would be looking at a currency crisis—Zimbabwe-style.
LINK HERE
Germany declares economic war on Britain
LINK HERE
Zoellick Says U.S. Dollar’s Primacy Not a Certainty
LINK HERE
BILDERBERGERS WANT GLOBAL CURRENCY NOW
LINK HERE
Japan and China stopped buying US treasuries a long time ago.
ReplyDeleteThe only one buying US Treasuries is the FED printing up cash and either directly buying (Quantitative Easing) or swapping the cash with foreign central banks and then they purchase the Treasuries and we use the bogus fiat crap they gave us to purchase theirs, which is the same differance.
So it's ALL A PACK OF LIES!
The lie will be kept going until everyone has been shot up with H1N1 squalene porcine death shot for autoimmune disease and sterilization.
Beware of the $ it might go up or down but it is here for a long time yet. the US understands how to protect itself very well.
ReplyDeleteGold can go to $5'000 but we should remember the US has a consumer purchasing power that the world needs. If the US heads to far right to protectionism the world will have major problems. $ assets, insured by gold bullion, high quality collectibles like coins www.petitioncrown.com and a prayer that goverments control their printing press
Jesus Christ people ,prices are already up look at the Chinese goods man the are skyrocketing , the Chinese yuan remnimbi is 1U.S$-6.87yuan 3 years ago it was 42 yauan per 1 U.S $ can you say price inflation . TO be honest i often go to the Dollar Store to pick up Canadian made only canned foods and some junk food for hunting and fishing trips , The quantiy of a unit(ex box of cookies 50 for 1$ are now 1.50 for 30 ) has been cut in half while the prices went up 50% this is no lie !!
ReplyDeleteHyperinflation is slowly slowly creeping up , man just to do a basic grocey for what used to cost 60-70$ two years ago now costs us 130-140$ and we do not buy junk food , as previously stated i do buy some only for hunting and fishing (who doesnt)but man oh man shit me and the wife make half decent money and jeeez let me tell ya we are feeling it , how can single parents even remotely make it , theres crdit cards for sure , we do not use credit cards , i have a Sears card for major appliance emergencies and that-s it .
Japan: Go Ahead and Drop the Dollar!!! It will be your opportunity to avenge the horrific 1945 deaths and sufferings in Hiroshima and Nagasaki. Your "Dollar Bomb" will cause the Americans to commit suicide when they can no longer purchase brand-name merchandise from Walmart at low low prices!! Americans would rather perish than be denied their salad shooters and plastic wading pools. They would prefer hanging in gallows to HI-Def sports television blackouts.
ReplyDeleteJapan is America’s second-most important creditor nation—lending the U.S. billions of dollars each year. If Japan won’t lend unless America pays it back in yen, then China and other major lenders may quickly follow suit. This would eliminate America’s ability to use inflation to cheat on its debt payments.
ReplyDeletesymptomes
Gold is through $1120-, there was a time that people said I was crazy to like gold when the world has got used to "paper money". Dear all, what happens when the world’s governments just keep printing more paper money? The world supply of paper money doubles. Yes u r correct, we need to cut down more trees, but we also create a situation where our printed paper buys less as there is too much in circulation. Gold is and the other raw materials are the last resort. Wait and see - Coins collecting happens to be my hobby, www.petitioncrown.com, crazy maybe but we r in turbulent times and it needs creative thinking and actions - what was before is not today.
ReplyDeleteSwK
sun-wu-kong@singapore.com