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Paper Tiger Bites
When It Is Made of U.S. Money Notes (1)

21 March 2010
 

In the beginning of the Golden Tiger Year (February 14, 2011 – February 2, 2011) - characterized with the open conflict between Metal and Wood, finance and culture, and the West and the East - YST, a celebrated online political commentator from Taiwan Province with his true identity unknown to public, posted his review and forecast of the world economy, which has drawn wide response both in the mainland and on the island, as his posts always did. The following are the excerpts from the post and the English translation:

On the cover of the Time Magazine issued in February 1999, there are images of three economic giants:Alan Greenspan, the Chairman of the Federal Reserve of the United States from 1987 to 2006; Robert Rubin, the Clinton-era Treasury Secretary and noted champion of deregulation; and Lawrence Summers, the Director of the White House's National Economic Council for President Barack Obama. The trio are attributed by the magazine for leading the world out of the global financial and economic crisis of the time, for which they are praised as the Committee to Save the World.

To be honest, I’m unable to recall that the world was in an economic crisis during that time. If there was indeed any, it was the so-called Asian Financial Meltdown which was in fact created by no one but American investment banks. However, it did not spread out globally; therefore, the tale of the three American marketers saving the world economy is nothing but a lie.

Now let’s look at this event more closely.

To start with, it was a financial crisis initiated by Americans single handedly, with the purpose to suppress the development of the new economies in Asia, in particular that of Japan and China.

Once American banks collected quick profits, they left a big mess behind in Thailand, South Korea, Indonesia, Malaysia and Hong Kong.

Then they came to offer a rescue package through the International Monetary Fund with the unfair conditions that helped them to further scrape the remaining profits in the collapsed economies. By doing so, the team of the three from the United States somehow become the saver of the world in the eye of the American media.

Don’t you see what Americans did? They robbed you with their left hand, then restored you to your feet with their right hand, and ended up being promoted as heroes by their own journalists on their own magazines. The myth of America leading the world economy has thus been fabricated.

When commenting on the Asian Financial Meltdown, Lawrence Summers criticised the affected region for lacking what America is supposedly abundant, namely adequate capital funds, an effective monitoring system for financial institutions, and reliable and transparent business accounting practice. But that is totally crap. The fundamental economic structures in the region, especially in Hong Kong, are rather sound, and the crisis was entirely caused by American investment banks that channeled a huge amount of hot money into the region for financial manipulation. The United States, of course, has never been short of capital, since it has the exclusive power to print the dominant global reserve currency – dollar bills.

The culprit condemns the victim for being unable to defend himself when facing the attack. Such is typical of the United States. What a worthy world leader that the humanity has got!

As a matter of fact, China was the first to discover the key to resolve the dilemma caused by an American Jew’s crazy currency trade practice and thus saved Hong Kong from financial collapse; further, by refusing to follow the example of Japan to depreciate the yuan, China stabilised the Asian financial order at the cost of the massive reduction of its own export earnings.

But America’s Time Magazine was silent over China’s sacrifice and contribution, while credited the driving force behind the crisis, the American marketers, as the Messiah for the global finance recovery.

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Excerpt of the post in Chinese:

虎年新春看天下大势:

1999年有一期【时代】杂志,它的封面人物有三位财经专家:美国联储会主席葛林斯潘,美国前后任的财政部长鲁宾与萨默斯。这个全球最富盛名的【时代】杂志称他们三人为“拯救世界的团队”赞扬他们带领全球金融体系度过当时的危机。

YST 不记得1999年有什么世界性的金融危机,要有也不过是1998年由美国投资银行所制造的亚洲金融危机,这个危机的程度、范围与影响远远没有达到世界性的规模,“拯救世界的团队”完全是没有事实基础的吹嘘,【时代】杂志号称没有这“三剑客”全球经济就会融化更是无稽之谈。

首先,这个亚洲金融危机完全是美国制造的,目的在打击亚洲新兴国家,拖累日本,也给中国好看。

其次,美国投资银行在亚洲国家捞了一大票后走人,把烂摊子留给受害国的政府和人民(泰国、韩国、印度尼西亚、马来西亚等国家,还有香港)。

第三,亚洲灾难造成后由美国把持的「国际货币基金组织」出面向受害国提出苛刻的条件助其恢复金融秩序,再用新条约把受害国剥一层皮。于是美国的三人小组就成了“拯救世界”的英雄了。

看到没有?美国的左手作为加害者圈钱成功走人,得了实惠;美国的右手作为“拯救者”成了英雄,赢得美名。再由美国的写手在美国出版的杂志鼓吹美国的“贡献”、美化肮脏的左手、赞美英雄的右手。这就完成了美国领导全球经济的过程与论述。

萨默斯在评论亚洲金融危机时,指责当时触发危机的国家欠缺美国所拥有的东西,那就是充足的资本、妥善监管的银行体系、以及可靠和透明的企业会计制度。萨默斯完全是一派胡言,受害国的经济基本面并不差(尤其是香港),金融危机是美国投资银行大量热钱进出利用受害国外汇储备不足进行炒作套汇造成的。美国银行不需要外汇储备,不怕炒作,因为美元是世界货币,美国可以无限量发行美元,当然资本充足。

美国左手套汇圈钱;美国右手(由美国控制的「国际货币基金组织」)摆平左手引发的经济危机;然后美国媒体开动宣传机器制造美国英雄;最后美国“英雄”出面发表评论倒打一耙,指责受害国的种种不是。好一个世界经济的领导者!

其实,中国在这次金融事件中先破解了美国犹太人索罗兹的套汇稳住了香港,然后没有随着日圆贬值而贬值人民币,这才避免了亚洲货币第二轮的疯狂贬值。中国用牺牲自己的出口稳定了亚洲的金融秩序,中国才是稳定世界金融秩序的真正贡献者,展露了一个有担当、肯负责任的大国精神。

但是奇怪了,【时代】杂志并没有赞扬中国的牺牲和公平评价中国的贡献,美国的犹太“三剑客”却成了“拯救世界”的英雄。

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