Adonis Diaries

Four years later: World Financial and economic conditions deteriorating further

Posted on: May 26, 2011

Four years later:  World Financial and economic conditions deteriorating

In 2010, the US witnessed economic growth of 3.2% , customer consumption growth of 4.4%, and a doping increase of export of 8%.  Normally, the US should have paid this monetary creation with hyper-inflation, worse than what Germany experienced in 1920.  Chairman Ben Bernarke declared this year, 2011: “The US economic growth is deteriorating”.  What is happening?

In 2011, the world is experiencing unbriddled speculations that madly increased the prices of basic food ingredients, industrial interests sacrificed in Europe, and the Arab world witnessing massive upheavals.  The people in Spain, Portugal, and Greece are emulating the Arab tactics for non-violent sit ins in main locations and demanding reforms in the priority of budget cuts:  Shifting the focus from benefiting the rich classes to the common people.

The rest of the world has decided to counter-attack constructively to US monetary policies of dumping worthless dollars.

Since the dollar is still the world currency reserve, it is the rest of the planet that is subjected to inflation.  Edouard Tetreau, an ex-financial analyst consultant, wrote an essay “As the dollar kills us” affirming that the dollar is currently the main enemy.  The French Edouard said: “In order to relaunch its economy, without paying the price, or tightening its budget cuts, or fighting inflation, the USA managed to export all the problems to the rest of the world.”

If the US can sustain a budget hole of $1.4 trillion in 2010, quickly reaching two trillion in 2012, the Federal Reserve (US central bank) was conducting a ludicrous monetary policy:  It loans to banks at real negative interest rate and keeps the money press in full work.  The FED has surpassed China in February as the number one holder of US Treasury Bonds.

The International Monetary Fund (IMF) is admitting: “Four years after the financial crisis, confidence in the stability of world banking system still need to be entirely restored.”  What Ben Bernarke qualified as as “the worst financial crisis in world history” did not generate any penal sanctions to Goldman Sachs, Morgan Stanley, JP Morgan.  Actually, these falty financial institutions received bonuses for the crisis.

Three years of G20 meetings and reunions conserved intact the flammable system.  Andrew Cheng, first counselor of the Chinese Commission on banking regulation said:  “it is a case of the financial institutions capturing and dominating the political systems in the developed States.”

China decided to react constructively of the worthless dollar by focusing its growth in its internal market: Agricultural lands, infrastructure, ports, mining, social development…

Edouard Tetreau suggest that the rest of the G18, excluding US and China, that weight twice heavier economically and financially counter with the following remedies:

One: Delocalization and reforming the market of essential prime agricultural and energetic products, which are actually based in New York and Chicago.

Two: Assuming the instoration of financial and commercial protectionism to challenge the dumping of US dollars and Chinese social dumping.

Three: Delocalization, outside the US, of the World Bank and the IMF.

Four: Replacing the dollar with a real world currency.

Note:  Edouard Tetreau published “20,000 billion dollars” in 2010.

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May 2011

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