Alasdair Macleod the other day compared the Shanghai Cooperation Organization to the empire of Genghis Khan whose name in English is just Great Leader. The Mongol Empire reached its height under his grandson Kublai Khan. The Mongol Empire combined economic and military power into the hands of one man. The modern SCO works cooperatively as a competitor to NATO and the European Union. Ankara, the capitol of Turkey, is 4,806 miles (7,734.5 kilometers) from Shanghai. Yet the Turkish government is exploring membership in the SCO because their EU acceptance is stalled and the EU looks a lot less attractive. Who wants to wind up like Greece anyway? Doctors and nurses work for months without paychecks. They’ve had riots just about every week for 150 weeks.
The European Central Banks have announced a negative interest rate policy which is designed to inflate their currency, the euro. The Turks have historically been a center for trading gold for anything of value in the Mideast for a very long time. They are smart enough to figure out that holding gold or a gold backed currency is a better deal for them than taking their savings and investments and exchanging them for euros which are being inflated. And then there is the policy decision of the ECB to allow the Bankers to seize deposits to pay off their bad loans. Who wants to put their money in that bank?
The SCO is a cooperative military alliance that needs to be compared to NATO. The Russians recently sold their S-400 anti-aircraft system to China. The Chinese will sell their version of the S-400 to Iran and their other SCO allies. The US has been trying to sell the F-35 to its NATO allies. Canada has refused the F-35 because it would endanger the lives of their pilots. The man who created the F-16 said the F-35 cannot win a dog fight against a MIG-21 from the 1950s.
To understand why American weapons in the modern era do not work you need to understand who runs the US and what their goals are. Catherine Austin Fitts, the former US Housing Commissioner, says the Power Elite stole $40 trillion from us. And they plan to steal trillions more. The people who own the federal government see the F-35 as an opportunity to steal money. They do not care about defending America. The children of Wall Street billionaires do not join the US Army and fight wars. In fact it would be in the interests of the Bankers for America to lose a war and hence lose its sovereignty to some international bodies like the UN, the IMF and the European Union. If Americans were no longer allowed to vote for or against the people who ran their lives, they would stop dreaming about the day when someone would arrest the Bankers and seize their assets.
People overseas are not restricted to listening to the Six corporations controlled by the Zionists who lie to us on a daily basis. The US Media did lie us into the Iraq war. That was a benefit to Israel and to the people looting the US Treasury. Foreigners have figured out that the Pentagon is a corrupt institution. They would rather buy the Chinese version of the S-400 just as Iran bought the HQ-9 which was China’s version of the S-300. People vote with their feet. They are walking on over to the SCO.
People are also voting with their money. Countries and businesses are lining up to trade with the SCO nations. Who wants American Genetically Modified Organisms? They turn lab mice into sterile runts by the third generation. Does America export anything besides weapons the US taxpayers paid for and hence gave away?
People around the world can see Americans who have really serious backgrounds in Finance talking about the Death of the Dollar on YouTube. Type Jim Rickards into the search box. He is a Financial Adviser to the Pentagon and a member of the Council on Foreign Relations. He says the dollar will be devalued 80% making the price of imported goods rise 500%. Why would you hold dollars if your job depended on your ability to pay pensions to workers in Asia or Europe or Latin America?
Macleod also said that the Chinese leadership were still under Communist rule when the Keynesians were running America and Europe so they never fell for the kind of nonsense taught at our most prestigious universities. The Chinese are running their country by Business Models whereas America and Britain are running Welfare States. The Bankers in London and New York need the Welfare Classes to vote for nonsensical politicians who are robbing everyone with a job or a pension. Recently they have opened the borders to millions of illegal aliens. The Bankers want to steal what is left in our pensions and savings but they need to destroy America when they get that final dollar from the last taxpayer left standing. Otherwise those angry people who were robbed of everything and have nothing left to lose will go to Wall Street and hunt down Bankers. They might even get control of their government and treat Bankers like terrorists by renditioning them to secret CIA prisons and US Navy ships.
We ought to compare the military aspects the Mongolian Empire of the 13th century to the present Chinese government. There was a period during the Chinese revolution when they did kill tens of millions of people. The Chinese were given aid by their friends in the US government who saw WW II as an excellent opportunity to expand Communism into eastern Europe and Asia. The Nixon, Bush and Clinton administrations saw China as a willing tool to lower wages worldwide. The Chinese were to help the Power Elite deindustrialize America and impoverish Americans so it could at least in theory be conquered by the UN and the IMF.
But China does have a weak point. They are a top down society in which power is not shared with the people. Asia Magazine of Hong Kong said years ago that the Big Banks launder $500 billion a year in political bribes and that about 40% of that money or $200 billion were bribes to Chinese politicians. There is much unrest in the countryside because local Chinese officials steal land from the farmers. In America our politicians also steal land and make money from developers. In China the farmers riot.
The grandchildren of the survivors of the leaders on Chairman Mao’s Long March are called Princelings. They run the country. They own many enterprises and steal everything in sight. They are spoiled and incompetent. We learned recently that 21,000 Chinese officials have $4 trillion dollars in safe havens in the Caribbean and that they prefer to do business with British Commonwealth nations.
The weak point in of all this is the unfolding crisis in the Chinese commodity markets with all those bad loans on non-existent collateral. Zero Hedge had the following statement and chart which sums up the problems involved in this fiasco.
“Simply put – the collateral that I promised you on my loan… I also promised to between 10 and 30 other people… but we’re good right?”
The problem we have in the West is that as the chart above clearly indicates those fake commodity loans went through dollar denominated banks. We are talking about trillions of dollars in bad loans. The Chinese have nobody to bail them out. Mario Draghi would suggest that they do this the European way. Just close the banks Friday night and go into the customers accounts over the weekend stealing their money until the bad loans are covered. Then Monday morning the European Bankers would tell their customers that half of their life’s savings just sort of went poof!!
That will not fly in China. The only real option open to China is to give those Banks a trillion dollars in US Treasury bonds and cash to make them whole. The Chinese probably have at least 10,000 metric tons of gold. That is 11,023 American tons. If China revalued their gold from less than $1,300 per ounce to $7,000, the increase in the value of their gold would compensate them for the loss of those US Treasury bonds. But they would have to dump a lot of their US dollars to drive up the price of gold by more than 500%.
This would be a disaster for America and its trading partners. We are talking about a Depression far worse than the 1930s.
I would suggest a radical solution available only until this coming collapse begins. The Chinese have $4 trillion in banks well within the range of the US Navy. If the US grabbed the $4 trillion plus seized all the assets bought from those accounts, there would be enough money to give whoever succeeds the current leadership to make Chinese bank depositors whole.
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This is where you can find the above chart:
China’s Rehypothecation Scandal In One Chart