.BEIJING (AP) - 10/4/2011— China stepped up its criticism Tuesday of a proposed U.S. law to punish countries with artificially low currencies, saying there would be serious repercussions for the world's two biggest economies if it is passed.
The criticism comes after U.S. senators voted Monday to open a week of debate on the bill that would allow the government to impose additional duties on products from countries that subsidize exports by undervaluing their currencies.
How worried China is about the proposed law can be seen by the fact that the Foreign Ministry, the Commerce Ministry and central bank all issued statements denouncing it.
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| President Bush Meets with President Hu Jintao of the People's Republic of China - Red China November 2004... |
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Buddy ... Buddy ...  Phil Gramm Republican Senator from Texas at the end of the 1990s asks for more deregulation. In 1999 there where $50 Trillion Dollars of Unregulated Derivatives (Junk) in the global markets ... Bush then Governor of Texas in 1999 claims he had no idea this was going on. How dumb does he think the American Tax Payer is ... His number one Senator from Texas is in the news everyday and Bush knows nothing ... . William Philip "Phil" Gramm (born July 8, 1942) is an American economist and politician, who has served as a Democratic Congressman (1978–1983), a Republican Congressman (1983–1985) and a Republican Senator (1985–2002) from Texas. He was a senior economic adviser to John McCain's presidential campaign from the summer of 2007 until July 18, 2008. Even though Gramm looks stupid and talks slow (Trying to sound mentally challenged.) He is very very smart at stealing U.S. Taxpayer Money, Other Peoples Money ... . The CFTC attempted to regulate. Brooksley Born,a former derivatives manager, appointed by Clinton to chair Commodities Futures Trading Commission (the CFTC), which oversaw the derivatives market and her Deputy Director, Michael Greenberger, issue a proposal to regulate derivatives. . Clinton’s Treasury Department (Larry Summers) responds by strong-arming them to stop. Afterwards, Greenspan, Rubin, and FCC Chairman Arthur Levitt issue a statement condemning Born, saying it’s out of the CFTC’s jurisdiction. They recommend legislation to keep derivatives unregulated on the basis they’re privately negotiated by professionals so it’s unnecessary. Born and Greenberger are overruled by Clinton Admin, then by Congress. Sen. Gramm (R-TX) ultimately pushes legislation through to exempt derivatives from regulation on the basis they unify the market. . The Next ... Crook to Enter ... Hank Paulson . |
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| Secretary of the Treasury Henry Paulson 2006-2009 . Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow ... Now retired and living in his mansion in Palm Beach Florida ... . Hank Paulson, is an American banker who served as the 74th United States Secretary of the Treasury from July 10, 2006 – January 20, 2009. . . He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.When he came on broad as Secretary of the Treasury he brought on broad his friends from Goldman Sachs ... Kendrick Wilson III Steve Shafran Reuben Jeffrey III Robert Steel Stephen Friedman Edward Forst Dan Jester Josh Bolten Robert Zuellick Neel Kashkari . Paulson has personally built close relations with China during his career. In July 2008, The Daily Telegraph reported "Treasury Secretary Hank Paulson has intimate relations with the Chinese elite, dating from his days at Goldman Sachs when he visited the country more than seventy (70) times. On September 19, 2008, Paulson called for the U.S. government to use hundreds of billions of Treasury Taxpayer dollars to help financial firms clean up nonperforming mortgages threatening the liquidity of those firms.... |
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| Bush's Team For Cutting The "Red" Tape |
All told total bank mortgage loan losses by 2008 exceeded $2 trillion dollars (by some estimates more like $3 trillion) and the banks could no longer afford to write off their bad loans. Plus now an estimated $80 Trillion Dollars of Unregulated Derivatives (Junk) which was now in the global markets world wide, causing insatiability of world governments in Europe (and is to present day) and around the world. These Governments that had purchased these products as a solid investment ... These countries believed the same as U.S. Taxpayers, they were getting a Triple A (AAA) rated investment according to Rating Agencies like Standard & Poors, Moody's & Fitch. Rating Agencies forgot to tell the world they were only guessing ...
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The bursting of the real estate bubble resulted in reduced consumer confidence and credit availability to the economy. Businesses in the U.S. could no longer meet there payroll or get credit …
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A lethal combination bundling of bad mortgages by Wall Street into derivatives and the dissemination of such products across the world’s financial institutions made this the worst financial crises in the modern world ...
For a Time Line for SubPrime Crissis - Click Here ...
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The bursting of the real estate bubble resulted in reduced consumer confidence and credit availability to the economy. Businesses in the U.S. could no longer meet there payroll or get credit …
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A lethal combination bundling of bad mortgages by Wall Street into derivatives and the dissemination of such products across the world’s financial institutions made this the worst financial crises in the modern world ...
For a Time Line for SubPrime Crissis - Click Here ...
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"Paulson Financial Rescue Plan" or simply the Paulson Plan.
Oh is that what GOP called it ...
I call it Paulson's Commie Bailout Plan ...
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Here we go again .... More GOP links to Communism ...
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or should I be calling them ... State Capitalists ...
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So what is Communism ...Communism is a social, political and economic movement that aims for an establishment of a classless and stateless communist society structured upon common ownership of the means of production, free access to articles of consumption, and which abolishes the end of wage labor and private property in the means of production and real estate.
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During the Bush Years 2000-2008 U.S. Public Debt increased more than another President in U.S. History ... A lot of the debt was owed to Communist and OPEC countries ...
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During the Bush Years 2000-2008 U.S. Public Debt increased more than another President in U.S. History ... A lot of the debt was owed to Communist and OPEC countries ...
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The United States is a Constitutional Republic not a Democracy...
Our economic system is Capitalism ...
Capitalism is not a form of government ...
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Under GW Bush he interchanged the words Capitalism and Democratic form of government extensively between 2000 to 2008 ...
I am not sure if this was intentional, or he honestly did not understand the difference ...
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Because of this ...
Many of today's Republicans think Capitalism is our form of government ...
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Today's Democrats think our are government is a Democracy for some just plain Socialism ...
Today's wealthy believe we are meant to be ruled by the wealthy and are for a government with only the wealthy in charge which is a Plutocracy ...
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The United States is a Constitutional Republic not a Democracy...
Our economic system is Capitalism ...
Capitalism is not a form of government ...
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Under GW Bush he interchanged the words Capitalism and Democratic form of government extensively between 2000 to 2008 ...
I am not sure if this was intentional, or he honestly did not understand the difference ...
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Because of this ...
Many of today's Republicans think Capitalism is our form of government ...
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Today's Democrats think our are government is a Democracy for some just plain Socialism ...
Today's wealthy believe we are meant to be ruled by the wealthy and are for a government with only the wealthy in charge which is a Plutocracy ...
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