Tag Archives: Revolution

The Established Order Will Be Challenged, by Raymond Matison

Source: Zerohedge

Submitted by Raymond Matison via The Market Oracle,

With its recent miniscule 2% devaluation of the Yuan, media pundits noted that China had now also entered into the global currency war.  What this comment implies is that other countries with the ability to issue or print their own currency, including the U.S., have been participating in a currency war by devaluing their own currency as a hoped for means to increase their country exports and thereby stimulate their economies.  As China’s currency has been pegged to the USD, it had recently grown stronger as a byproduct of dollar’s recent dramatic strength.  Accordingly, the peg that China used to tie-in to the dollar’s value had increased the Chinese yuan to a level that was hurting their exports.  The resulting devaluation was China’s attempt to correct partially this unwelcome currency appreciation.

With FED’s past QE series of money printing, we have been at the forefront attempting to devalue our own currency as a means to improve our exports, reach the FED’s stated goal of increasing inflation which would produce higher GDP figures, allowing government officials to claim that economic growth or recovery is resuming.  Not to be outdone, the European Central Bank has been purchasing weak credits from their banks, in order to make member bank financial solidity ratios appear stronger – which also requires substantially increasing its money supply.  The largest and most outrageous example of intentional destruction in the value of its currency is Japan, which for nearly two decades has been on a mission to devalue its currency in order to stimulate inflation.

Currency expansion may seem like an ideal, benign solution to a country trying to stimulate its exports, but it does create a financial assault or loss to their trading partners.  For example, China’s recent holding in excess of $1.3 trillion assets (until some recent sales of under $200 billion) from accumulated annual trade surpluses, would lose great value in its assets by the amount of such U.S. devaluation.  If the U.S. were to expand its currency by 10%, China’s Treasury holdings could be reduced by $100 billion – not an insignificant amount.  That is of course why the well known phrase “race to the bottom” stipulates that once one country starts to print currency, other countries, in order to protect themselves against the action of the initiator, have to follow and also devalue their own currency.  We are currently witnesses to a race to the bottom in a continuing global currency war.

Definition of Currency War.

Wikipedia defines a currency war as “competitive devaluation where countries compete against each other to achieve a relatively low exchange rate for their own currency. As the price to buy a country’s currency falls so too does the price of exports. Imports to the country become more expensive. So domestic industry, and thus employment, receives a boost in demand from both domestic and foreign markets. The policy can also trigger retaliatory action by other countries which in turn can lead to a general decline in international trade, harming all countries.”

It is arguable that currency wars are not only fairly current affairs, but that they last for relatively brief periods of time not extending beyond a few short years – as highlighted by our FED’s recent QE series.  How might our understanding of currency war change if we were to expand slightly the definition of currency war, and by also taking a far longer view – that of going back to the founding of the FED?  How would we appraise the big picture of government and FED policy over the years, and its now fully observable results on the populace?

Continue reading The Established Order Will Be Challenged, by Raymond Matison

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Libya: African Jewel, by Eric Draitser

Source: Counterpunch

Snatched away –
blood and sand
alloyed to lifeless aridity:
add water. A man-made
river stolen, siphoned

assets in frozen accounts,
darkness unpenetrated
by the electric gaze
of a once buzzing grid,
spark snuffed.

The Greeks knew this:
tragedies have heroes
and death, covalent bond –
a binary truth
to build myths upon.

Here the wind dries tears,
breaks skin like stone
and stone like steel.
Still, man and martyr stand,
faces to an unforgiving sun.

And with hands that once
broke bread
tilled soil
mended wounds,
they hoist the Green Flag

And declare:
We are here.

Eric Draitser is an independent geopolitical analyst based in New York City. He is the editor of StopImperialism.org, host of CounterPunch Radio, OP-ed columnist for RT and writes for the online magazine “New Eastern Outlook”. You can reach him at ericdraitser@gmail.com

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of Oceania Saker.

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Conversation: Help keep an important voice on the air

For many years Don Debar has kept a unique independent voice of reason alive on the air waves from New York. He tells the truth as it is, no sugar coating and apologies for the Empire.

We would like to urge our readers to please donate to Don’s CPR news Radio and keep it on the air. If we all do not stand together then we all have already lost. Donate $1.00, $5.00, $10.00  or more, and help do your part of what is truly a community public radio.

Tell your friends and family and be part of the change that you so wish to see in the world. Have hope, have dreams, have strength and above all have faith in our fellow brothers and sisters who are fighting the good fight.

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An Open Letter to the Spirit of a Rebellious Leader, by ADAM CHIMIENTI

Source: Counterpunch

Sankara

[Note: Thomas Sankara, president of Burkina Faso from 1983-87, was assassinated on October 15, 1987. This letter was written on the 25th anniversary of his death and modified slightly after.]

Dear President Sankara,

It was 25 years ago this autumn that you were removed from office and killed. So much has happened since then. Your beloved Burkina Faso, the country you renamed to reflect the upright nature of the people there, is imperiled. The vast majority is impoverished and frustrated by the current state of affairs. Your former comrade, Blaise Compaoré, who was instrumental in bringing you to power and supporting you, had eventually engineered your removal and assassination. He has most certainly congratulated himself on this twenty-fifth anniversary in power. Recently, Blaise won his last election but quickly set to work on how he could maneuver around a constitutional amendment that limits a president to two terms. Strange! He is currently serving his fourth term and has indicated he will run yet again in 2015.i

I imagine you are not surprised by this turn of events. You were making predictions about how your removal was inevitable in the years, months, and weeks leading up to the dark, fateful day when Africa lost a powerful and fiercely independent voice. It also probably would not surprise you that most people around the world have never heard of you and they most certainly won’t pay heed to the reminders of this tragic anniversary by international media or official government ceremonies. There will surely be commemorations in your honor but the silence will ultimately be deafening.

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Continue reading An Open Letter to the Spirit of a Rebellious Leader, by ADAM CHIMIENTI

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