Andrew Gavin Marshall and Michael Hudson: Will China’s Yuan overtake US Dollar?

with Andrew Gavin Marshall
Featured Writer
Dandelion Salad
January 20, 2011

RTAmerica | January 20, 2011

US President Barack Obama is hosting China’s President Hu Jintao to discuss their economic co-dependence, currency and trade. Does this mean the US is losing ground to China’s new found success? RT’s Kristine Frazao is joined by Andrew Gavin Marshall from the Centre for Research on Globalization and Michael Hudson, Professor of Economics at the University of Missouri.

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Out of the euro by Rudo de Ruijter

By Rudo de Ruijter
Guest Writer
Dandelion Salad
Independent researcher
www.courtfool.info
Netherlands
January 17, 2011

revised March 26, 2011

The euro is a very practical currency, but it makes millions of victims. This article contains a simple explanation why the euro can’t work and exposes the advantages of a shift to state money.

– No, European cooperation won’t disappear without the euro!

– And yes, with state money we are much better off!

The euro has an unsolvable problem. The countries that have severe debt problems today, if they succeed in reducing these debts by cuts in public spending, will predictably slide into debt again.

This is because these countries are victims of a fundamental flaw in the euro. Before the euro started, economists have warned, that a single currency can only work when all participating countries are economically homoge­neous. [1] [2] [3]

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The Metaphysics of Money By Nikki Alexander

By Nikki Alexander
Featured Writer
Dandelion Salad
http://nikkialexander.wordpress.com
January 8, 2011

When people want to communicate ideas they use language. Language is a medium of exchange. Without language people are reduced to physical touching or hand signals and have to be physically present with each other to communicate. With language people can exchange ideas with others in different centuries through books and in faraway places through the internet, newspapers and telephones. Sharing ideas leads to increasingly complex social agreements, concepts, inventions and discoveries, raising the standard of living and the level of expertise for the whole society.

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Keiser Report: Ellen Brown on “Deficit Easing”

with Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
December 30, 2010

RussiaToday | December 30, 2010

This week Max Keiser and co-host, Stacy Herbert, find an unsurprising answer to the most important question of our time, “why is America broke?” They also discuss ‘nasty surprises’ and Tony of Arabia. In the second half of the show, Max talks to author and blogger, Ellen Brown, about her latest piece on the [Dandelion Salad] offering a solution for Ireland.

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Is QE2 The Road To Zimbabwe-style Hyperinflation? Not Likely by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
December 1, 2010

Unlike Zimbabwe, the U.S. can easily get the currency it needs without being beholden to anyone. But wouldn’t that dilute the value of the currency? No.

A month ago, the bond vigilantes were screaming that the Fed’s QE2 would be the first step on the road to Zimbabwe-style hundred trillion dollar notes. Zimbabwe (the former Rhodesia) is the poster example of what can go wrong when a government pays its bills by printing money. Zimbabwe’s economy collapsed in 2008, when its currency hyperinflated to the point that it was trading with the U.S. dollar at an exchange rate of 10 trillion to 1. On November 29, Cullen Roche wrote in the Pragmatic Capitalist:
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The Stench of US Economic Decay: Russia and China Dump the US Dollar by Dr. Paul Craig Roberts

https://dandelionsalad.wordpress.com/

by Dr. Paul Craig Roberts
Global Research
November 29, 2010

On Thanksgiving eve the English language China Daily and People’s Daily Online reported that Russia and China have concluded an agreement to abandon the use of the US dollar in their bilateral trade and to use their own currencies in its place.  The Russians and Chinese said that they had taken this step in order to insulate their economies from the risks that have undermined their confidence in the US dollar as a world reserve currency.

This is big news, especially for the news dead Thanksgiving holiday period, but I did not see it reported on Bloomberg, CNN, New York Times or anywhere in the US print or TV media. The ostrich’s head remains in the sand.

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The QE2: Bernanke Prints Again by Sean Fenley + Quantitative Easing Explained

by Sean Fenley
Featured Writer
Dandelion Salad
The Anything and Everything
Nov. 14, 2010

The Federal Reserve’s QE2 is being met with near universally condemnatory reviews. The Fed’s effort to buy up $600 billion in government bonds is being seen as a shot in the dark for the foundering Obama administration. With the “austerity-minded”, Tea Party influenced Republicans measuring the drapes and curtains, for new and improved cushy offices in the United States Capitol; Obama appears to be running an end-around the anticipated policy gridlock that these “preeminently qualified”, so-called stewards of the national public trust are widely anticipated to bring about.

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Democracy Now! with Michael Hudson: Financial Warfare

https://dandelionsalad.wordpress.com/

Democracy Now!
Nov. 5, 2010

New $600B Fed Stimulus Fuels Fears of US Currency War

The Federal Reserve will pump $600 billion more into the US economy and keep interest rates at historical low levels. The short-term impact of the Fed’s move, known as quantitative easing, has been a jump in stock prices across the globe. Many nations, however, have accused the United States of waging a currency war by devaluing the dollar. We speak to former Wall Street economist and University of Missouri professor Michael Hudson. “The object of warfare is to take over a country’s land, raw materials and assets, and grab them,” Hudson says. “In the past, that used to be done militarily by invading them. But today you can do it financially simply by creating credit, which is what the Federal Reserve has done.” [includes rush transcript]

[starts at 7:52]

via New $600B Fed Stimulus Fuels Fears of US Currency War

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Time for a New Theory of Money by Ellen Brown

by Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
October 29, 2010

The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s created by banks when they make loans (that includes Federal Reserve Notes or dollar bills, which are created by the Federal Reserve, a privately-owned banking corporation, and lent into the economy). Virtually all money today originates as credit, or debt, which is simply a legal agreement to pay in the future.

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Crisis is an Opportunity: Engineering a Global Depression to Create a Global Government by Andrew Gavin Marshall

by Andrew Gavin Marshall
Featured Writer
Dandelion Salad
October 27, 2010

The following is a sample from an forthcoming book by Andrew Gavin Marshall on ‘Global Government’, Global Research Publishers, Montreal. For more by this author on the issue of the economic crisis and global governance, see the recently-released book by the Centre for Research on Globalization, “The Global Economic Crisis: The Great Depression of the XXI Century,” co-edited with Michel Chossudovsky, in which the author contributed three chapters on the history of central banking, the rise of a global currency and global central bank, and the political economy of global government.

Problem, Reaction, Solution: “Crisis is an Opportunity”

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From Global Depression to Global Governance by Andrew Gavin Marshall

by Andrew Gavin Marshall
Featured Writer
Dandelion Salad
October 21, 2010

The following is the text of Andrew Gavin Marshall’s presentation at the book launch of The Global Economic Crisis: The Great Depression of the XXI Century, Michel Chossudovsky and Andrew Gavin Marshall (Editors). September 29, 2010, Montreal, Canada.

We now stand at the edge of the global financial abyss of a ‘Great Global Debt Depression,’ where nations, mired in extreme debt, are beginning to implement ‘fiscal austerity’ measures to reduce their deficits, which will ultimately result in systematic global social genocide, as the middle classes vanish and the social foundations upon which our nations rest are swept away. How did we get here? Who brought us here? Where is this road leading? These are questions I will briefly attempt to answer.

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Keiser Report: Episode 87: Ellen Brown on Foreclosuregate

with Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
October 19, 2010

RT

This week Max Keiser and co-host, Stacy Herbert, look at the full scale currency war launched by the “tomb maker” and at hiring hair stylists as scabs to cross the bankers’ picket line. He also talks to Ellen Brown about Foreclosure-gate.

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Predatory Finance: The New Mode of Global Warfare by Michael Hudson

https://dandelionsalad.wordpress.com/

by Michael Hudson
October 12, 2010

“Coming events cast their shadows forward.” – Goethe

What is to stop U.S. banks and their customers from creating $1 trillion, $10 trillion or even $50 trillion on their computer keyboards to buy up all the bonds and stocks in the world, along with all the land and other assets for sale, in the hope of making capital gains and pocketing the arbitrage spreads by debt leveraging at less than 1% interest cost? This is the game that is being played today. The outflow of dollar credit into foreign markets in pursuit of this strategy has bid up asset prices and foreign currencies, enabling speculators to pay off their U.S. positions in cheaper dollars, keeping for themselves the currency shift as well as the arbitrage interest-rate margin.

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America’s China Bashing: A Compendium of Junk Economics by Michael Hudson

https://dandelionsalad.wordpress.com/

by Prof Michael Hudson
Global Research
September 29, 2010

It is traditional for politicians to blame foreigners for problems that their own policies have caused. And in today’s zero-sum economies, it seems that if America is losing leadership position, other nations must be the beneficiaries. Inasmuch as China has avoided the financial overhead that has painted other economies into a corner, nationalistic U.S. politicians and journalists are blaming it for America’s declining economic power.

I realize that balance-of-payments accounting and international trade theory are arcane topics, but I promise that by the time you finish this article, you will understand more than 99% of U.S. economists and diplomats striking this self-righteous pose.

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Time for Helicopter Ben to Drop Some Money on Main Street by Dr. Ellen Brown

by Dr. Ellen Brown
Featured Writer
Dandelion Salad
webofdebt.com
Sept. 8, 2010

The Federal Reserve is proposing another round of “quantitative easing,” although the first round failed to reverse deflation. It failed because the money went to banks, which failed to lend it on. To reverse deflation, the money needs to be funneled directly to state and local economies. The Fed may not be authorized to “monetize” state bonds, but it COULD buy bonds issued by state-owned banks.

In 2002, in a speech that earned him the nickname “Helicopter Ben,” then- Federal Reserve Chairman Ben S. Bernanke famously said that the government could easily reverse a deflation, just by printing money and dropping it from helicopters. “The U.S. government has a technology, called a printing press (or, today, its electronic equivalent),” he said, “that allows it to produce as many U.S. dollars as it wishes at essentially no cost.” Later in the speech he discussed “a money-financed tax cut,” which he said was “essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.” You could cure a deflation, said Professor Friedman, simply by dropping money from helicopters.

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