The Back Alley Archives

Can someone please explain to me what this guy is all about? Am I the only one who is a little freaked out about a "New World Order"? Someone please ease my fears.




Soros: China Will Lead New World Order

Billionaire globalist warns Americans against resisting new global financial system



Paul Joseph Watson
Prison Planet.com
Wednesday, October 28, 2009

Billionaire globalist George Soros told the Financial Times during an interview that China will supplant the United States as the leader of the new world order and that America should not resist the country’s decline as the dollar weakens, living standards drop, and a new global currency is introduced.

Asked what Obama should discuss when he visits China next month, Soros stated, “This would be the time because I think you really need to bring China into the creation of a new world order, financial world order,” adding that China was a reluctant member of the IMF who didn’t make enough of a contribution.

“I think you need a new world order that China has to be part of the process of creating it and they have to buy in, they have to own it in the same way as the United States owns…the current order,” said Soros, adding that the G20 was a move in this direction.

Soros said that there was a flight from currencies across the board, and that this is why the price of commodities, notably gold and oil, were generally rising. He also stated that an orderly decline of the dollar was “desirable” and that the entire system needed to be reconstituted towards a global currency.

“You need a new currency system and actually the Special Drawing Rights do give you the makings of a system and I think it’s ill-considered on the part of the United States to resist the wider use of Special Drawing Rights, they could be very useful now when you have a global shortfall of demand, you could actually internationally create currency through Special Drawing Rights,” said Soros, explaining that this was already in process after the IMF injected an allocation of Special Drawing Rights (SDRs) equivalent to $250 billion into the global economy.

Soros also stated that richer countries were already transferring wealth to poorer countries via SDR’s, with the IMF paying for the half per cent transaction cost.

Soros said the world would have to go through a “painful adjustment” following the decline of the dollar and the introduction of a global currency. Reading between the lines, he essentially threatened to kill the dollar completely if the United States did not get on board with the global currency.

Soros predicted that China would become the new engine of the global economy, replacing the U.S., and that this would slow economic growth and reduce living standards. Soros characterized the United States as a drag on the global economy because of the declining dollar.

china recently said that their most recent reporting of cash reserves was so astronomically vast that they deemed it 'immeasurable'...to me, they are all that matters right now....in fact, if we're being frank, geithner and bernanke answer now to the chinese...the chinese own so much of the US (in terms of debt obligations) that china HAS to call the shots...it's in china's interest TO call the shots...actually, the US can not afford to say 'fuck off' to the chinese because the chinese can then sell back our debt and can reinvest in what THEY might deem to be a better alternative as it relates to the US dollar being the global currency.

china is in the cat bird seat with almost 1 trillion in us treasury securities on it's books...what's shocking is not the sheer number but how fast that that number has grown...to put things in perspective as to how fast this shift has come, china just passed japan as the biggest creditor about a year ago...japan was over 3 times china's book only but 3-4 years back.

now then, here's where it gets kinda dodgy...because china's got such a huge interest...they can afford to call the shots...shots in healthcare for example...healthcare is going to cost the US gov't to fund...it just will...china won't like that...they'll of course would want the US to cut into the defecit in order to stave off inflation...inflation erodes the value of china's USD portfolio...get me....(so if you follow, it's kinda ironic how the flag waving nationalists of the US will actually now rely on the Chinese to demand that this current administration be more fiscally responsible...ironic)

The International Energy Agency (IEA) estimates that three more Saudi Arabias will have to be found and brought on stream just to meet the needs of China and India.

i think China/India are in position to call the shots

and i can't find the research report right now but India just recently called for an immediate change of the US dollar as the main reserve currency of the world...i believe they favor an IMF (international monetary fund) created currency.

china supports this if the US doesn't get their shit together.

So if I understand you correctly, if I don't favor gov't run healthcare and cap n trade, I should be happy that China will likely keep us from investing in this because it's not good for their investment?

Will the left now claim, republican=red commie? :laugh:

So if I understand you correctly, if I don't favor gov't run healthcare and cap n trade, I should be happy that China will likely keep us from investing in this because it's not good for their investment?

you got it.

the chinese are NOT on board for more spending...they won't allow it...the US won't/can't afford to piss of the chinese...the alternative would be losing the status of being the worlds global currency and obama won't have it....i HOPE he doesn't (put it that way)

I don't think Obama gives a darn about the dollar and is in favor of a new world currency, don't you think? (Hoping I'm wrong).

Also, isn't China still a communist country? Since they "own" us, don't they want us to be communist too? Wouldn't they try to push us in that direction? Not that our current admin really needs all that big of a shove.

Also, isn't China still a communist country? Since they "own" us, don't they want us to be communist too? Wouldn't they try to push us in that direction? Not that our current admin really needs all that big of a shove.

money trumps ideology

I don't think Obama gives a darn about the dollar and is in favor of a new world currency, don't you think? (Hoping I'm wrong).

the US dollar has been the reserve global currency since WW2...would obama want to be known in history as the sitting president who relinquished that distinction? dunno...maybe, maybe not...maybe so...dunno.

Obama's personal wishes have nothing to do with what's going to happen over the coming years, IMO. He's just the mouthpiece.

Also, isn't China still a communist country? Since they "own" us, don't they want us to be communist too? Wouldn't they try to push us in that direction? Not that our current admin really needs all that big of a shove.

money trumps ideology

I hope you're right...but wouldn't China be thinking "hey we're communist and look how much money we have...we have a nationalized health care system, etc." so why wouldn't they think it would be okay for the US to follow the same path...it worked for them right? So what that they have so much pollution that they don't need sunscreen (that is from my friend who is living over there right now).

And I'm really not sure about what Obama really wants...I've seen him on video saying one thing and denying that exact desire one year later...with no mention of him 'changing his mind'. The dude is a mystery to me.

Al

Like I've always said, its all about the money. China is only concerned about their financial interests...they don't care to turn us communist. They only care that this administration do what is in their best interests as it relates to their substantial interest in our dollar

The value of their USD portfolios while erode in time if we continue to issue debt. In a raising rate environment (we are currently at the lows and rates have nowhere to go but up) newly issued bonds (that are yielding higher than existing debt) will make cheapen existing debt.

For example, if you've loaned me money at 2%, your bonds will lessen in value when rates rise and I am now borrowing money at current rates of say 4%.

The Chinese know that our defecit is growing larger, our govt is proposing spending more money and they know that the only way we can keep up with costs is by issuing more debt. So the leverage they do have is to threaten that they sell their interests (at current market values), cut bait, lose minimal value and in the process, decreasing the dollar even further by displaying lack of support for the dollar

The Chinese call the shots. The US has no choice

I'm glad you understand this stuff but let me put on my tin foil hat that AA gave me for a second...are you not concerned that this would totally be fine with this current US administration whose ultimate goal may be a one world currency where we are NOT the engine running the global economy but instead are just the "drag on the world economy" as Soros talks about in the video? Obama on numerous occassions has expressed his lack of belief that the US is an "exceptional" country and said at the UN meeting that no one county can or should be more powerful than others (or something to that effect).

IF the ultimate goal is to dimish the US standing in the world in the name of social justice (rather than bring poor countries UP, bring rich countries down so we're all equal), then wouldn't it be great in their eyes if China basically trashed the US dollar? We would be forced to take on whatever currency this new world order called for and we would be nothing but a Banana Republic like so many other countries?

You know what I thought of the other day? I think Obama's plan is really focused on illegal immigration...I think he's trying to make it so bad here in the US so that no one wants to come here anyway...no more immigrant problem. Kidding, just a quirky thought I have.

rad...you do always make me feel better (walk me off the ledge)...I hope that people like you and other smart people would never let that happen to us (no matter who is in power in the government). I just get frustrated by the amount of people I come across who have no clue about any of this...and I'm no expert myself...I depend on you smart guys to walk me through it.