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Monthly Archives: August 2010
Banks back switch to renminbi for trade
By Robert Cookson in Hong Kong
Published: August 26 2010 17:55 | Last updated: August 26 2010 17:55
A number of the world’s biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China.
HSBC, which recently moved its chief executive from London to Hong Kong, and Standard Chartered, are offering discounted transaction fees and other financial incentives to companies that choose to settle trade in the Chinese currency.
“We’re now capable of doing renminbi settlement in many parts of the world,” said Chris Lewis, HSBC’s head of trade for greater China. “All the other major international banks are frantically trying to do the same thing.”
HSBC and StanChart are among a slew of global banks – including Citigroup and JPMorgan – holding roadshows across Asia, Europe and the US to promote the renminbi to companies.
The move aligns the banks favourably with Beijing’s policy priorities and positions them to profit from what is expected to be a rapidly growing line of business in the future.
The phenomenon will accelerate Beijing’s drive to transform the renminbi from a domestic currency into a global medium of exchange like the dollar and euro.
Chinese central bank officials accompanied StanChart bankers on a roadshow to Korea and Japan in June. The bank held similar events in London, Frankfurt and Paris…
Read the rest.
While increased global acceptance of the RMB does not spell ‘doom’ per se for US interests, it is clear that the PRC is positioning itself as a primary heir to American hegemony as our country continues to spiral towards disaster.
Got Mandarin lessons?
*Mandarin for “good luck”
John GaltFLA’s dissection of one of the catalysts behind the upcoming excitement.
Any bets on there not being a roadshow version of Zombieland coming to your town soon?
>From Bloomberg via Drudge:
Investors face defaults on government bonds given the burden of aging populations and the difficulty of increasing tax revenue, according to a Morgan Stanley executive director.
“Governments will impose a loss on some of their stakeholders,” Arnaud Mares in the firm’s London office wrote in a research report today. “The question is not whether they will renege on their promises, but rather upon which of their promises they will renege, and what form this default will take.” The sovereign-debt crisis is global “and it is not over,” he wrote…
Read the rest.
And when local and state governments start to default on their bonds, what do you think will happen with services such as police patrols?
On the other hand….
As a British politician noted noted in 2007:
“When will politicians realise that George Orwell’s 1984 was a warning, not an instruction manual?”
Do you understand yet?
Read each item, along with their embedded links, for some serious discussion about the magnitude of the problem faced by the FreeFor.
To beat Smart, Well-Funded, and Bloodthirsty, you have to be at least Smart and Bloodthirsty.
That’s merely table stakes.
Whose deal is it?
Take the mavericks in your service, the ones that wear rumpled uniforms and look like a bag of mud but whose ideas are so offsetting that they actually upset the people in the bureaucracy. One of your primary jobs is to take the risk and protect these people, because if they are not nurtured in your service, the enemy will bring their contrary ideas to you.
In this age, I don’t care how tactically or operationally brilliant you are, if you cannot create harmony—even vicious harmony—on the battlefield based on trust across service lines, across coalition and national lines, and across civilian/military lines, you need to go home, because your leadership is obsolete. We have got to have officers who can create harmony across all those lines.
kerfuffle, carfuffle, kurfuffle [kəˈfʌfəl]
Informal chiefly Brit commotion; disorder; agitation
(tr) Scot to put into disorder or disarray; ruffle or disarrange
[from Scottish curfuffle, carfuffle, from Scottish Gaelic car twist, turn + fuffle to disarrange]
a) Anyone who thinks I bear Mike or Bob any grudge whatsoever is completely mistaken. Nor am I anything other than an informed reader of Baugh’s material.
b) Read the damned book, along with the rest of Baugh’s material.
Just know that if you are commenting on Baugh’s ideas without actually, you know, reading them, you risk appearing rather silly, a la:
“Did you hear that Becky saw Amy telling Mary that Susie overheard Janet saying that Louise asked Sarah if Betty kissed Jimmy at the hop last Saturday?”
c) It is possible that the upcoming North American war games will be fought over luncheons and afternoon teas by white-glove-wearing proper ladies amongst various chapters of the Junior League, the DAR, and the La Leche League.
But it’s a heckuva lot more likely that the festivities will be a tad more…informal.
And I don’t just mean sandwiches with the crusts left on.
In that case, I want as many friends, allies, and situational partners-of-mutual-convenience as I can muster in my AO.
Put it this way:
1) Can anyone name three ways in which the local working girls might be useful to the FreeFor?
2) Same question re one or more the local outlaw motorcycle gang(s).
3) Ditto re the local moonshiner.
4) And what about the snaggly-toothed gentlemen with the booby-trapped patches of cannabis sativa up in the hollers?
5) How about the corrupt cop?
6) Think the politician videotaped in flagrante with his male assistant might be a useful intel asset?
7) Do you think the owner of the local stolen auto parts emporium/”chop shop” might be worth having a conversation or two?
8) Think the Mexican cartels are only hauling illegals over the border? What else might they be smuggling or be willing to smuggle for the right price?
9) Who’s more likely to have the pain meds and antibiotics needed by your daughter with the compound fracture – your local pastor or the local gang who knocked over your town’s pharmacy once things turned sporty?
10) Assuming security could be arranged, would anyone turn down a deal to buy a million rounds of fresh Russian 7.62×39 and 1,000 AKs in good shape from a known Islamist once the balloon goes up?
I know that merely asking these questions proves that I am a splitter, a heretic, a collectivist stooge, and someone who flosses only infrequently.
So be it.
d) Some final questions:
– Did anyone out there do PT yesterday? How many times this week?
– When and what is the course of fire for your next range day?
– How is your food storage? Water treatment? Med supplies? Ammo?
– Have you spread your materiel across several different secure locations to minimize chances of a complete loss due to criminal or OpFor action?
– Is the tribe-building going well? If not, how can you fix that?
– What new skills did you learn over the past month?
Focus on events in your area, do what you need to do, and don’t get caught up in distractions.
There’s going to be a lot of disillusioned folks in the near term.
And a whole bunch of them are headed your way.
>Come and join the hubbub as Charles-Johnson-Mania breaks out amongst the merry band:
I guess we no longer need to read each other’s books and other material before forming irrevocable conclusions.
And I am also glad to see that we have tossed the logical fallacies handbook aside and have adopted in full the Left’s reliance on ad hominem and guilt by association.
Godwin is chuckling, as well.
Finally, contrary to what I wrote in a comment to Surreal Rebuttal #1, we must have every-effing-thing else so completely freaking squared away that we can afford to start shooting at each other inside the foxhole.
Disregard this comment, therefore:
My point in “Brouhaha” was to get folks (not you) looking at hard facts.
The good guys are deemed as utterly impotent by the Bad People.
Baugh, as an individual, doesn’t really matter. His ideas do, at least some of them.
He is the only person I have read who speaks in detail of the central problem:
– The majority (> 150M, by my guess) of so-called “Americans” vehemently do not want the burdens of political liberty and individual freedom.
– That 150M+ mob will be used to tear apart and eat (literally, in some cases) the old-school minority known variously as Constitutionalists, individualists, et cetera.
– Neither that mob, their masters, nor their lackeys in press and politics fear the old-school minority.
– That absence of fear is because we of the despised minority have not given the looters and moochers any lesson at all, let alone a full-semester course, in ‘Oderint dum metuant’ — “Let them hate, so long as they fear”.
– Given the above, personal secession (my phrase) and physical isolation from the coming madness is an approach that will buy not only survival, but time for additional skillset acquisition.
Anyone who disputes these assertions needs to explain the arc of the past 30 (100?) years.
The Baugh issue is tertiary to the ones above.
Most of the audience is not thinking anywhere near enough about these points, IMHO.
So let the fratricide continue — and accelerate, even.
That way, the odds for the FreeFor can drop to mathematically zero.
For me, I’ll be away for a while figuring out why the eff I have wasted so much of my ‘only-ever life’, in Billy Beck’s phrase, on an endeavor that is so clearly and utterly effing doomed.
After all, I too have been denounced by two — count them, two! — leading ‘freedom advocates’ as both a ‘Benedict Arnold’ and an agent provacateur.
It was said, so it must be true.
(*h/t to Tam for the term)
Anyone out there naive enough to think this is merely an “emergency revenue measure”?
>Comment posted in response to this note:
By the way, I’m a scalper.
Who wants to make up the tee shirts?
>Read this piece from Boortz; key graf:
…Turn the clock ahead 20 years. Your child comes to you and tells you that he and you need to find a quiet place to talk. You’ve been through this before … so you head into the garage, start the car, turn up the radio, and start whispering to each other. Your son, it seems, is in trouble. He participated in a protest against a proposed new law requiring the implantation of micro-tags in all newborns. Now he discovers that he’s being investigated by a federal police agency for sedition. He looks at you and asks you what you were doing when these radicals moved into power 20 years ago…
Read the rest.
There is such a thing as a point of no return.
Whether you think so or not.
A long-time student of Prime Minister Churchill’s wartime leadership style, Senator Blutarsky endorsed the transmittal memorandum:
UPDATE 20 AUG 2010 0030 EDT: Alvie suggests another tool, both for direct mission execution and for collateral support as a stand-alone sign:
>Read Robert Stacy McCain’s piece on the AP memo re Ground Zero Mosque coverage.
What is encouraging is that up until recently, average folks outside the news biz wouldn’t ever learn of these kinds of shenanigans.
Now, in the post-Journolist environment, the good guys in the news biz are getting the Ministry of Truth’s directive out into daylight almost immediately.
And thus, the mainstream media continues to spin itself into oblivion.