The decline and fall of the US dollar?

This little bit of economic news seems to have quietly slid out of the papers here fairly quickly.

FMG’s trade in renminbi expected to be followed

 

Fortescue minerals group is a medium sized player in the Australian iron ore market, it appears they have more confidence in the stability of the renminbi (Chinese currency) rather than the US dollars traditionally used for international commerce.

Tie that in with the US treasuries attempts to inflate away their domestic currency crisis and we may be looking at a severe downgrading of the prestige and value of the US currency as a unit of international trade.

A resources analyst says a decision by Fortescue Metals Group to trade using the renminbi signals a shift towards widespread transactions in the Chinese currency.

Yesterday, Fortescue Metal’s boss Andrew Forrest announced his group had completed its first ever deal using renminbi.

It is understood FMG is the first Australian company to trade in the currency rather than in US dollars.

The first, Mr Forrest is a pretty canny bloke, it remains to be seen if his business sense is right on this one.

The Chinese currency currently has its value pegged to the US dollar, if the dollar was to freefall it would be insane for the Chinese to allow it to take their currency down as well.

What would they then peg their currency to? The Euro?, British Pound?, The Yen? risky. Its difficult to see any other currency with the same “weight” to peg against.

He said he expects other Australian companies to follow suit.

“I don’t think it’s just Australian miners, it’s the Australian economy will definitely follow this move,” he said.

“It will start the flood because it makes it much easier now to do business with China, it’s part of China’s opening up and China becoming more efficient in global engagement.” Analyst Peter Strachan says the trade makes financial sense with China the region’s dominant economic and political force.

“They’re standing up and saying it’s our time,” he said.

Mr Strachan says many Australian companies will soon be trading with China using the renminbi.

“It’s not just going to be in iron ore, it will be in jocks and socks, through to refrigerators and whatever else comes through the door.”

The US government is printing money at a record rate, in all likelihood the US dollar is overvalued due to its reserve currency/trade currency status. If it were to lose even a large percentage of that just how much could the US dollar crash?

On the upside it would make exporting US products more competitive.

On the downside….everything else.

Now Im not a clever man, but I can see the US crippling itself in an attempt to ride out a downturn. Printing currency to inflate toxic losses is WORSE than the pricing correction trying to happen will be.

Iran to “punch” the West on Thursday

Tomorrow, Thursday, will be the 31st anniversary of Iran’s Islamic revolution (oxymoron, anyone?). And they reckon they will “punch” West “in a way that will leave [us] stunned“. What exactly this “punch” will entail, no one really knows, but it probably won’t amount to much, as is the norm when Iran bleats defiantly. Shaking in ma boots.

Now if only China would stop selling them weapons and whatever else, we could impose some more effective sanctions on them. China’s veto power at the UN currently prevents us from doing that. And, of course, the commies are thirsty for energy.

Cross-posted at bing’s cubby house.

UPDATE

Was this the punch??? Suspending gmail??

Devastating…

When daycare isn’t an option

Epic parenting fail.

A Chinese father chains his two year old kid to a pole while he and the mother are at work.

Cross-posted here.

What would China do?

If you remember the post a few days back showing Al Gore being confronted in a bookstore, you may remember the ‘confrontee’ screaming out that the COP15 climate change crap has, rather than having much to do about the environment, and not just on Obama’s own admission, a security issue, but also rather a lot to do about eugenics, that favourite play toy of the Left. And sure, we’ve already heard about eco-ratbags suggesting governments ‘put something in the water’.

Well, Canada’s Financial Post, in an editorial no less, has made their stand… for a global one-child policy.

A planetary law, such as China’s one-child policy, is the only way to reverse the disastrous global birthrate currently, which is one million births every four days.

Interesting since it ain’t the rich countries having that much of a problem with exploding populations. In fact, two of the richest nations on the planet, Japan and Germany are actually experiencing negative population growth.  It’s the poor countries that are much more likely to have huge population growth. Look at that list in the link above. Take the top 30. It’s only poor and/or Muslim countries experiencing growth of about 2.5 or higher.

The FP’s stance is idiotic at best, and down right evil at worst. And how the hell would you police such a policy except in the developed world? That’d be a world which isn’t having a problem with exploding populations – no pun intended re countries experiencing problems re suicide bombers…

But the FP is trying to do what China would do, and is taking China’s lead.

COPENHAGEN: Population and climate change are intertwined but the population issue has remained a blind spot when countries discuss ways to mitigate climate change and slow down global warming, according to Zhao Baige, vice-minister of National Population and Family Planning Commission of China (NPFPC) .

“Dealing with climate change is not simply an issue of CO2 emission reduction but a comprehensive challenge involving political, economic, social, cultural and ecological issues, and the population concern fits right into the picture,” said Zhao, who is a member of the Chinese government delegation.

So we have a bunch of lefties taking the lead off a bunch of Commies? Gee, what could go wrong with that in a free, democratic society?

US Citizen? Sign the petition against cap n’ trade

If you’re a man-made global warming sceptic, or if you think the science perhaps isn’t settled, or if you are worried about a potential communist world government, or if you are worried about giant non-sovereign world taxes being imposed on all of us, or if you think the governments of this world already have too much power, or even if you’re not convinced yet either way, and don’t want a road paved that there’s no turning back on in just two short weeks, then sign this petition.

SIGN HERE

People literally right now are speaking at Copenhagen presenting the other side to this man-made CO2-driven man-made climate change/global warming argument. They will also be speaking tomorrow. Time is of the essence.

UPDATE

This post differs from the original. It came from watching the latest Monckton videos (the end of Part 4 of which part 1 was posted by 1.6 below), about a GLOBAL problem – but unfortunately only US citizens can sign that petition. Hence, first update removed, replaced with this.

O-bow-ma

Oh for fuck’s sake.

Of course, the Chinese are calling him, Oba Mao.

It’s not the first time he’s done this, either.

Jesus Christ. I’m glad General of the Armies Douglas MacArthur isn’t around to see this.

Mac’s Thought Bubble: “Fuck me, a leftard shit-head president.”

Is Democracy not for everyone?

First reaction: bullshit.

Anyway, the BBC via Australia has launched into a bona fide debate on it all. Interesting….

Obama gets in. China’s rich. And now we’re questioning democracy… lest we mention who Obama’s press secretary admires so much.

And a note on that. Dunn said it. It’s on tape. Yet try to google a news story about it from a major news source? Almost nada. Why is that? Because a close aid to Obama, his communications director, quotes Mao as her number 1 political idol?

Oh dear, America. Oh dear, England. Oh dear, Australia.

And whatever happened to the fourth estate?

BingBing, Please Answer the White Courtesy Phone: NorK Attack “Imminent”

Things may have reached a tipping point with North Korea.

“U.N. Security Council resolutions are almost always a waste of time, but not always, and yesterday’s resolution presents North Korea with a major problem, and represents an escalation point in the continuing crisis. Just a few days ago, when the resolution was presented before the Council in draft form, North Korea issued a new threat, using the words “offensive” and “nuclear” in the same sentence maybe for the first time:

“Our nuclear deterrent will be a strong defensive means . . . as well as a merciless offensive means to deal a just retaliatory strike to those who touch the country’s dignity and sovereignty even a bit,” the state-run Minju Joson newspaper said in commentary carried by the official Korean Central News Agency…

* For these reasons, it is possible that North Korea’s economic situation is now so desperate, that North Korea is willing to go further than ever before in forcing the U.S., China, and others to pay up. Another nuclear test — or perhaps a military strike or other kind of attack against some nation — could be imminent.”

You really need to read the whole enchilada.

It is high time this dastardly regime was toppled, IMO. What’s the mood in the south, Bing?

So that’s what they were saying!

Remember the 400m men’s freestyle final at the Beijing olympics? Korea’s Park Tae-hwan managed to pip America’s Larsen Jensen (3rd) and Australia’s Grant Hacket (6th?!) to win the gold medal.

Needless to say, I have seen this reply hundreds of times on the telly over here but never knew what in heck the Korean commentators were saying. Well now, thanks to a fellow Korean ESL teacher/blogger, we finally have a translation.

Click here.

I said click, dammit!

Russia Backs Return to Gold Standard

It’s sort of a modified, limited hang-out, but Russia is promoting at least a partial return to the gold standard for international currencies.

“Arkady Dvorkevich, the Kremlin’s chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.

Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal.”

Too funny: Having money backed by real value is “radical.” No, it isn’t, it’s moral… but you can be sure the Russians and Chinese are not proposing this for positive moral ends, rather they have designs on taking advantage of the US mountain of debt that Obi-One has buried us under to weaken us economically. Still, I’m glad they brought this up, because it will strike fear into a lot of arrogant hearts, or it ought to.

If some countries return to the gold standard, international financiers and financial institutions will flock to those currencies and the US dollar and other unbacked fiat currencies will plummet into worthlessness. If that doesn’t worry you, it should. The US, GB, Australia and other western nations are in no position to return to the gold standard: Too much money in circulation and nowhere near enough gold to hitch to it.

Still, at some point this is going to happen, even if it takes a total global financial meltdown to achieve it… and it just might.

The choices will come down to this…

…or this.

Carbon captured

Hot off the press! Carbon capture for Gaia-raping coal-fired power stations is now possible! Think of it as a tissue for Gaia.

Gaia wipes away her tears! Rudd can finally implement his CPRS caper. The ultimate liberation of our tax dollars, taxing the air we breathe, once just a mere pipe dream, is finally only a hop, skip, and a jump away. Thank you, Al Gore. Thank you, Great Leader Kevin Rudd.

EXCLUSIVE

Tizona’s weblog has a leaked document of just what this carbonering capturing techamalogical technology will look like once Rudd implements it (after he’s finished selling us out to China).

Dear Leader Kevin Keeps Kwiet.

So our fave meeja whore, PM to the stars, had a meeting with the Chinese minister for propaganda.

I find it intriguing that someone so keen to bignote himself sees the need to play this one down.

When asked why such an important meeting would be kept from the Australian media at such a crucial time in the bilateral relationship, a spokeswoman for Mr Rudd told The Australian: “It was a private meeting between the two. It is not the Prime Minister of Australia’s role to put out a press release announcing what every visiting politician is doing.”

Especially when the Chinese are trying to buy up Australian resources.

I wonder when Dear Leader will release the contract signing us into bondage to the Chicoms.

All in the name of Progress, of course. After all, Kevvie’s great mates have plenty of form in that direction.

McCain’s Perfect Choice for a Running Mate: Governor Sarah Palin

While most of the pedantic, two-dimensional, inside-the-box-thinking, conservative political hacks are touting Tom Ridge for the slot (Not a bad guy, but…), David Freddoso notes a far superior choice has been proposed: The Republican Governor of Alaska, Sarah Palin.

I believe this is a truly inspired idea. Gov. Palin ran as an anti-corruption outsider, and handily defeated a corrupt and entrenched Republican political machine. Plus, at 44, she would almost totally wipe the “age issue” McCain has off the slate, and since Obama is only two years her senior, there is no way they could attack her for her youth and inexperience: She has much more executive experience than Senator Obama has.

Not to mention the fact that, she’s a gorgeous woman who exudes mass quantities of charisma…

and has a super-solid family life.

Dibs on the eldest daughter! LOL!

This inspired choice would allow McCain to actually capitalize on his “maverick” persona, as Gov. Palin shook Alaska politics to the core: She’s a charming, charismatic woman, but she can also play with the big boys and kick ass.

What say ye?

UPDATE: Things are looking optimistic!

UPDATE II: Welcome to all 4500 8000 40,000 in the past few hours (so far!) people visiting us from Google. We’re a fairly opinionated right-wing blog, and you might like to take a look at our “About” page. You might also be interested in our other coverage of Sarah Palin and whether she becomes a prospective Vice President of the United States. You can find this coverage here and here. Personally, I hope she does, but you can feel free to debate the idea in comments below. All first comments are moderated, but unless you either insult or use severe profanity (and I mean severe by my standards, which generally only means the C U Next Tuesday word or the implication that someone has had a rather enjoyable erotic experience with someone who has borne a child), however if you come up with a new one, I may simply delete your comment. I, and all other contributors to this blog are more than fair in what we permit.

UPDATE III: Nayr Drahcir, don’t bother even trying. You will not be published.

UPDATE IV: A lot of people must like Palin.

UPDATE V: More coverage of Governor Sarah Palin and a theme song here.

UPDATE VI: Funniest observation on the announcement yet: “Put Obama and Palin on a basketball court one on one. Winner takes all!”

UPDATE VII: [spot_the_dog] No, we do not have any pictures of “Sarah Palin + Naked,” nor do we have any of “Sarah Palin + Swimsuit.” In the past 24 hours, there have been 157 separate searches on this site for “Sarah Palin Swimsuit,” and 161 separate searches for “Sarah Palin Naked.” I repeat, we have no bathing suit, swim suit, bikini, or naked pictures of Sarah Palin. What kind of people do you think we are, anyway? 😉

UPDATE VIIa: [spot_the_dog] Ace has noticed a similar search phenomenon on his blog and has a theory…

UPDATE VIII: A well-rounded view of the selection of Sarah Palin for the Vice President Nomination can be found here.

UPDATE IX:  We got it!  YES!  Nude photo of Sarah Palin right here!  (C’mon.  You know you want to click.)

UPDATE X: Feel free to visit our main page and read the latest posts we’ve written.

Conundrum

There is perhaps no better example out there of such. Bush is making one last ditch effort to make some kind of progress on the North Korea conundrum before leaving office – mainly what to do about the North’s nuclear program. But let’s face it, not much will come of it. Here you have a country, total population perhaps hovering around the 23 million mark with a combined active and reserve military force of about nine million. And it would take their missiles just 12 minutes to reach downtown Seoul. The Seoul National Capital Area is the second largest metropolitan area in the world with a population of almost 25 million.

Best of luck with that chit chat, Obama.

(PS … and you wonder why I live in the deep south of the country next to an airport…)

PPS Here’s a documentary on North Korea. It’s a few years old but I highly recommend you watch it.

PPPS But are we, in a necessary yet still tragic cross-cultural irony, witnessing death by a 1000 cuts?

But what other ’solution’ is there?

What would China do?

North Korean idjets

You’d think they’d know better. The North Koreans are getting all sooky about the South’s new hardline policy on them and have decided to expel hundreds of South Korean workers from a South-funded industrial park just north of the DMZ.

Idjets. The one main hope that country has of being able to one day properly look after it’s citizens and the stupid Commies send the money-makers home.

Still, no worries. The North usually pulls stunts like this before multilateral talks get under way (again) in Beijing next week to try and sort out their nuke problem.

Movie time

With thanks to Theo Spark and Anderson Lamarca.

Part 1 of 10 but do watch the lot. Hat tip to who finds out how Captain Kirk fits into this all. Disclaimer/hint: Didn’t realise until the credits rolled. Surely Dminor would know if he could just neglect his child for a bit. Bro, crank up High5 on the plasma and crank up this in the room with your cheesy high school photo… and say hello.

Everything you ever wanted to know…

Could this be the. best. link. ever?

Tons of info on AGW, climate change, energy reserves, Al Gore, polar bears and the like.

It’s not porn but it’s pretty darn good. I’m barred up.

The Best Olympics Medal Count Site

Congrats to Yahoo! Sports for an awesome Olympics Medal Count page.

Clicking on the country gives the list of individual medals by event with the winner. Clicking on the event gives the final results of all contestants, and clicking on the winner sends you to their bio. Simple, elegant, and beautifully done.

I see Australia is in a three-way tie with France and Russia for fourth, but they have more Gold Medals than both. Excellent.

China Screws Up

I would not want to be the audio guy in charge of the cutting short of The Star Spangled Banner after Michael Phelps won a gold medal in the swimming. 

Here’s the video:

I wonder how long the audio guy will live. 

Embarrassing China is not a good mistake to make.

Meanwhile…

So the Olympics Opening Ceremony is over.

An amazing spectacle with Heads of State in attendance galore.

But not Georgia’s Mikhail Saakashvili.

He’s back in Georgia watching his country being attacked by Russia right now… literally at the same time everyone else, Putin included, watched the ceremony… err, Olmpics, that is.

Who are the goodies. Who are the baddies?

Either way, back to reality.

Opening Ceremony

They’re calling it a security breach: a Korean reporter manages to slip inside a full dress rehearsal for the upcoming Olympics’ opening ceremony and record it on video.

My first thought: “Brave fucking journalist.” I mean, what do you think the penalty for that is in China? Crucifixion’s too good for him, sir?

As for the ceremony itself…it’ll want something new, something to distinguish itself from all the others. Something uniquely China. I’m thinking tanks, lots of ’em. And Nicki Webster. I’ll leave the details to your imagination.

The Fun Olympics

China to Spy on Olympic Visitors

Spot the difference

Both photos were taken at around the same time on different days. Both were taken from casa de la bingbing. Pollution? No. Well not man-made (for the most part) anyway. Just a bit cloudier? No. The first one was taken on a day when Korea copped a good dose of China’s yellow dust. On the day the second one was taken, the wind had changed direction. Our athletes are really gonna cop it in 11 days.

Click on the photos to do them justice. Today, I can see all the way across the bay. Last Wednesday, I was lucky if I could see half as far.

UPDATE

Apparently it’s just mist.

Anecdotal, but a Chinese official on CNN TV said it was just steam.

Kristie lu Stout said, ‘Steam? Hmmm.’

Yeah fucking right. Oh China, this is gonna be fun.

Special Shabbat Arrangements for Pres. Peres at Beijing Olympics

(IsraelNN.com) Chinese authorities said they would make unique arrangements for President Shimon Peres so that he can attend the opening ceremony of the 2008 Beijing Olympics without desecrating the Sabbath. Some Israelis and American Jews have said that attendance at the China games under any circumstances would be a violation of Jewish tradition and morality.

The Office of the President officially informed the Chinese Olympics Committee on Thursday that President Peres accepted the invitation to attend the opening events of the Olympics on the evening of August 8. The announcement followed great efforts on the part of the Chinese government and the Olympics Committee to accommodate Shabbat restrictions observed by the President as an official representative of the State of Israel.

Initially, the President’s Office informed Chinese officials that Peres would not be able to be present at the opening event in the stadium, which will take place on a Friday evening, due to the desecration of the Sabbath that would entail. In response, according to a spokesperson from the Office of the President, “The Chinese did not give up and decided, in an unprecedented step, to separate the President of Israel from the other heads of state and to accommodate him in a special hotel which was built within the Olympics compound at a walking distance from the event arena.” Transportation by vehicle is forbidden on the Sabbath according to Jewish religious law and tradition.

In the message conveyed to the Chinese government, President Peres said that he “sees great importance in the strengthening of the relations between Israel and China and in promoting the economic, cultural and security ties.”

Arutz Sheva

5 members of alleged radical Muslim group killed in raid in China

BEIJING, July 9 (AP) – (Kyodo)—Chinese police shot dead five members of an alleged radical Muslim group during a raid in northwestern China, state-run media reported Wednesday.

The official Xinhua News Agency quoted police as saying they surrounded an apartment in Urumqi in the Xinjiang region on Tuesday after investigating the stabbing of an ethnic-Chinese woman in May.

The police said they opened fire when some of the 15 Muslim Uyghurs inside the building stormed out wielding knives and injured one officer, the report said.

The police claim suspects have admitted to belonging to a group trained to wage a “holy war,” pledging to kill ethnic-Chinese and set up a Muslim state in Xinjiang.

Been having trouble with those critters for a while, China eh? Breitbart