My record as an economic commentator is not good. That’s partly because when I tried to join that debate, I was unaware of the extent of the cartelisation of world trade and finance. It was when I read the book World Without Cancer by Edward G Griffin which explains in detail how economic power is centralised into very few private hands that the real picture appeared to me. I read it in February 2011.
I knew something was wrong with government from my own long experiences. I first tried to influence the political process, but found no real solution was attainable by meeting top politicians, and running campaigns. Health forced me to withdraw from that procedure, and by blogging, the information came to me, sent in by readers who knew more than I did.
After issuing that caveat, I noticed two items in a financial report I was reading today. One was the sudden decline in the oil price, which I wasn’t expecting after the recent announcement of QE3. The other was the apparent refusal by China to join in the QE game, and help the Wall St world economy controllers to flood the world with cash. The rise in the gold price was checked for a second. Here’s an extract –
…a Chinese finance ministry researcher said the risks for inflation in China exceed the need for more economic stimulus. There is a slew of fresh economic data coming out of China on Thursday. The market place worries the China economic data may show significant weakness. The Chinese economic data Thursday looks to be the most important data of the week for the market place.
I just wondered if the QE game might be working less well now, or if it’s yet another deception of investors. The elites know when markets are to be sent into reverse. They could send investors into buying by announcing QE in some countries while engineering a downturn in others. In 1929 the central bankers stopped bailing out the smaller banks in New York. What if in 2012 they first stopped bailing out banks in China. As I say, my economic knowledge is poor, and my opinions often based on intuitive thoughts. But China and oil are what need watching today, according to Jon Nadler’s piece on kitco.
This extract from the FT also informs –