For many years the experts always doubted that China would dump our debt because of the impact on their own economy and currency.
You can see how the line is steepening. #China is getting out of #US #debt and buying #Gold instead.
#Peertube : https://tv.adn.life/w/6a8848c9-3c4d-4b2a-b290-81111a0bb3d3
#Documentaire en plus :
#Français : L'argent Dette de Paul Grignon
#English : Money as Debt (2006 - Paul Grignon)
Version revisitée en 2010 sur vimeo : ht__tps://vimeo__.__com/8116254 (enlever les "__" pour valider le lien)
#Banque #Actionnaires #Souverain #Souveraineté #Monnaie #Argent #Banques #État #Croissance #Consommation #Dette #Argent-Dette #PaulGrignon #Money #Debt #Marchand #Servitude #ServitudeModerne #Économie #Économiste #Finance #Privilèges #Riches #Pauvres #Esclavage #Peuple #Boycott
A good read.
A dozen #poor #countries are facing economic #instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China.
An Associated Press analysis of a dozen countries most indebted to China — including #Pakistan, #Kenya, #Zambia, #Laos and #Mongolia — found paying back that #debt is consuming an ever-greater amount of the tax revenue needed to keep schools open, provide electricity and pay for food and fuel. And it’s draining foreign currency reserves these countries use to pay interest on those loans, leaving some with just months before that money is gone.
Behind the scenes is China’s reluctance to forgive debt and its extreme secrecy about how much money it has loaned and on what terms, which has kept other major lenders from stepping in to help. On top of that is the recent discovery that borrowers have been required to put cash in hidden escrow accounts that push China to the front of the line of creditors to be paid.
Countries in AP’s analysis had as much as 50% of their foreign loans from China and most were devoting more than a third of government revenue to paying off foreign debt. Two of them, Zambia and Sri Lanka, have already gone into default, unable to make even interest payments on loans financing the construction of ports, mines and power plants.
In Pakistan, millions of textile workers have been laid off because the country has too much foreign debt and can’t afford to keep the electricity on and machines running.
In Kenya, the government has held back paychecks to thousands of civil service workers to save cash to pay foreign loans. The president’s chief economic adviser tweeted last month, “Salaries or default? Take your pick.”
Since Sri Lanka defaulted a year ago, a half-million industrial jobs have vanished, #inflation has pierced 50% and more than half the population in many parts of the country has fallen into poverty.
Experts predict that unless China begins to soften its stance on its loans to poor countries, there could be a wave of more defaults and political upheavals.
https://www.zerohedge.com/markets/global-rate-hikes-hit-wall-debt-maturity
This is something that I have been watching for some time.
Our rulers and the central banks have spent a long time creating the conditions for the inflation we now see.
It is not just the war in Ukraine as they would have you believe but the creation of money.
I personally don't see interest rates continuing to rise because the debt load is already to high and inflation is just going to be part of life for some time.
Its all they have to eliminate debt.
A long time ago I read an article by a man named Andy Perry talking about derivatives and he explained that a derivative is like Andy Warhols Campbells soup.
The picture of the soup only has value because the Campbells soup exists and if it was a picture of a can of mosquito noses then it would have no value.
Unless Campbell soup started canning mosquito noses.
Our central bankers are saving their friends and we are going to eat cans of mosquito nose.
Fighting for a U.S. federal budget that prioritizes peace, economic security and shared prosperity
https://www.nationalpriorities.org/cost-of/
Found here : https://www.theguardian.com/commentisfree/2021/sep/09/afghanistan-us-foreign-wars-congresswoman-barbara-lee
#US #USA #War #Terror #Army #Cost #Dollar #Debt #Peace #Economy #Prosperity #World #Politic #Politique
“The world’s #wildlife is already vanishing, and the #bioenergy #industry is helping to accelerate that by destroying precious forest habitats.”
#cop15 #650-scientists #un #biodiversity #summit #burning #trees #energy #forest #habitats #biofuels #climate-crisis #nature #environment #carbon #debt #inefficient #conservation
https://invidious.namazso.eu/watch?v=I43uC1mfHKc
https://therealnews.com/richard-wolff-the-feds-response-to-inflation-is-another-upward-transfer-of-wealth
' #Capitalist #profiteering is the real driver of the #inflation #crisis, and #raising #interest-rates only passes the #costs onto #workers already overwhelmed by #personal #debt and #stagnant #wages.'
#europe #energy #fed #federal-reserve #us #capitalism #politics #economics #economy #stagflation #declining #wages #germany #history
Your #debt is an asset on a bank's balance sheet. By moving your debt from one #bank to another, you are reducing the positive balance on one bank's #balance sheet & increasing it on another. If enough #people do that, a bank's share #price can be changed.
If a bank wants to try to impose a social credit system or a component of one upon you, take the asset of your debt away from them. If enough people do this, they may find a bank will change its unwanted #behaviour.
#socialcreditsystem #carboncredits #carboncreditsystem #banking #usa #debt #assets #socialengineering #banks #economiccoercion #uk #un #banksters #bankingelite #globalism #ccp #communism #technocracy #plutocracy #corporatocracy #wef #socialcredit #photosynthesis #cfr #secretsocieties #socialengineers
https://thesaker.is/the-global-debt-scam-day-of-reckoning/
Long read but very interesting.
The great debt trap and look who's in it
Hmmmm
The economic miracle of the People’s Republic had some key features: Ever-rising home prices, surging household #debt, and a real estate sector that broadly contributes to one third of #GDP. Wary of an asset price bubble, #Xi drew three “red lines” last year to restrict financing and force developers to deleverage. A flurry of defaults ensued, including that of #property giant #China Evergrande (3333.HK), forcing bondholders to accept extensions or chase lawsuits. The #revolt on mortgage payments underscores #Beijing’s failure to ensure the losses stop there.
It puts the focus on China’s property buying preferences. New launches are almost always sold before they are built. When heavily indebted developers run out of cash, buyers are left with nothing but a debt obligation. #Evergrande warned of this problem in a letter it wrote in 2020 to local authorities: The company pleaded to be allowed to list a subsidiary to avoid a cash crunch that it said would cause huge financial and social risks, including two million buyers who might #protest over their 600,000-odd unfinished apartments.
https://www.reuters.com/breakingviews/china-property-crisis-enters-dangerous-next-phase-2022-07-14/ #economy #crisis
The permanent #war #economy, implanted since the end of World War II, has destroyed the private economy, bankrupted the nation, and squandered trillions of dollars of taxpayer money. The monopolization of capital by the #military has driven the US #debt to $30 trillion, $ 6 trillion more than the US GDP of $ 24 trillion. Servicing this debt costs $300 billion a year. We spent more on the military, $ 813 billion for fiscal year 2023, than the next nine countries, including China and Russia, combined.
We are paying a heavy social, political, and economic cost for our #militarism. #Washington watches passively as the U.S. rots, morally, politically, economically, and physically, while China, Russia, Saudi Arabia, India, and other countries extract themselves from the tyranny of the U.S. dollar and the international Society for Worldwide Interbank Financial Telecommunication (SWIFT), a messaging network banks and other financial institutions use to send and receive information, such as money transfer instructions. Once the U.S. dollar is no longer the world’s reserve currency, once there is an alternative to SWIFT, it will precipitate an internal #economic collapse. It will force the immediate contraction of the U.S. empire shuttering most of its nearly 800 overseas military installations. It will signal the death of Pax Americana.
Some Chinese property developers are going to extreme lengths to attract buyers.
From accepting grain or garlic as part payment, to offering live pigs as an incentive to buyers, the unusual sales tactics underline the dire state of China's vast #realestate industry. A collapse in sales has accelerated since developer #Evergrande defaulted on its debt last year as the #economy has slowed.
Central #China Management — a sister company of Central China Real Estate, the largest developer in the central province of #Henan — said in a recent advertisement that it will accept down payments of wheat for houses in #Minquan county.
The ad was posted on the company's official WeChat account this week. Buyers can use the grain to offset as much as 160,000 yuan (nearly $24,000) of their down payment. The new homes the company is offering sell for between $100,000 and $124,000, according to Leju Holdings, a real estate services provider.
https://edition.cnn.com/2022/06/22/economy/china-property-developers-wheat-garlic-hogs-intl-hnk/index.html #housing #debt #crisis
Do Americans know there's a department in the #Federal #government called the "Office of Financial Institutions" and part of its role is to "...formulate policy on financial institutions and government-sponsored enterprises..."
Do Americans know their Federal government spends their #taxes on "government-sponsored enterprises"? What #enterprises does the Federal government sponsor and how much of American's taxes are spent on this?
https://home.treasury.gov/about/offices/domestic-finance/financial-institutions
https://en.wikipedia.org/wiki/Office_of_Financial_Institutions
#federalgovernment #socialism #usa #usgovernment #treasurydepartment #treasury #cronyism #tax #collusion #fascism #biggovernment #biggov #redistribution #nationaldebt #debt #usfederalgovernment
@dianea - 
