Chinese to destroy Feds by refusing to honor fraudulent derivatives contracts
By Daniel at 3 September, 2009, 9:24 am
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The Chinese government has told Chinese companies they do not have to honor derivatives and commodity futures contracts made with Western financial institutions.
This is one of the most important of many nails in the coffin for the soon to implode Federal Reserve Board. The Chinese have every right to renege on those contracts because they were fraudulent. First of all the Feds manipulated the commodities markets to their benefit and to the detriment of the Chinese. They also allowed 100 times leverage thus allowing for astronomical ponzi schemes to be set up. Furthermore, they almost certainly did not properly explain the risks when they made their deals with the Chinese. Now that their attempt to rip off the Chinese is blowing up in their faces, these financial institutions will implode. This will set off a chain of events that will make the Lehman Brothers implosion seem like a storm in a tea cup. The total amount of derivatives contracts outstanding is now over $5000 trillion or 100 times world GDP. In other words it is just a giant illusion waiting to vanish along with the institutions that peddled it.
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They are moving to globalize the yuan! All part of the new world order.
http://www.dnaindia.com/money/report_china-moves-to-globalise-yuan_1286797
For those who do not understand the definition of the new world order..
The use of national State power under the control of a global government in order to maximise Corporate profits.
Now we know why the endless succession of government ministers who come from big business backgrounds want to be elected as MP’s, (Insert Senators,Representatives) so as to represent the interests of the corporations they work for, and why so many ex-government ministers end up as directors or working for corporations and big business when they leave Parliament, (Insert Congress-President-VP )in order to get their payoffs for representing the interests of their corporate masters instead of the people whilst they were in power.
The New World Order is the creation of a Global Corporate Fascist Government where individual nations use the power of the State to repress internal dissent and democracy in order to maximise the profits of the corporations that control and fund the election campaigns of the political parties in power and who own the media corporations that get politicians elected into power.