."We hate you guys..."
Mr. Luo Ping, director general at China's Banking Regulatory Commission, speaking in New York on Wednesday, shared his opinion of U.S. bailout policies:
"Once you start issuing $1 trillion-$2 trillion ...we know the dollar is going to depreciate, so we hate you guys..." [snip]
Reports in the press this week say that China is considering ways to diversify out of the dollar. The Chinese are no fools. They see what is coming. And they know what it will do to them - the holders of the largest pile of dollars ever assembled.
The Financial Times made it perfectly clear to them in a cartoon yesterday. It shows Barack Obama in front of a huge smoking trashcan filled with dollars. The president is pouring on gasoline.
Yes, dear reader, Mr. Ping has caught on. And the rest of the world is catching on too. The feds are printing trillions of dollars...and dumping them in banks and zombie corporations. They've got out their Zippo lighters...their firestarters...their kindling and crumpled paper....
[I.e., Washington is doing all the wrong things, and the world knows it {but good luck hearing about it on our TV news}.
Correction: 'wrong' if you're worried about the economy. But if your goal's the expansion of government power...]
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