EU-Asian summit: Climate change, financial crisis

Wen pledged to support the euro and facilitate investments in China, but he also urged Europeans to "limit protectionism."

B92

China is already facing threats of protectionism by the US, who is accusing her as "currency manipulator" for holding its currency,
the renminbi, steadfast over the dollar.Its obvious China doesn't want to open another front with the EU and this is why they will do their outmost to support the value of EU currency.

But China is not unique in managing its own currency.Last week the Brazilian finance minister accused Japan,Taiwan and South Korea for intervening in the currency markets directly, selling their own currencies and buying, among other things, Brazil's real.

These activities incite the following reflection on the whole scammy system. The trouble with today's capitalism is that there is little honest capital left in it. It has been drained away by debt and fraud. Real capitalism requires solid capital - money you can trust. But real money disappeared nearly 40 years ago.That was when the last traces of gold were removed.This is when the US started the prinring presses non-stop to finance the Vietnam war.
Since then, all currencies have been "managed." No longer fixed measures of real wealth, they have become tools supposedly used by the authorities to promote full employment and growth but in fact little more than monetary pyramid schemes.

Since 1971 the supply of money has increasead much faster than the supply of goods and services. US money supply (M2) rose 1,314% between 1970 and 2008, from $624 billion to $8.2 trillion.

It seems to me that currency wars are just the beginning of full trade wars.When it is over, every managed currency in the world will be dead or wounded. But we will be wiser, too. When the end comes, everyone will know that the currencies they hold will be worth nothing.

Wen pledged to support the euro and facilitate investments in China, but he also urged Europeans to "limit protectionism."

B92

China is already facing threats of protectionism by the US, who is accusing her as "currency manipulator" for holding its currency,
the renminbi, steadfast over the dollar.Its obvious China doesn't want to open another front with the EU and this is why they will do their outmost to support the value of EU currency.

But China is not unique in managing its own currency.Last week the Brazilian finance minister accused Japan,Taiwan and South Korea for intervening in the currency markets directly, selling their own currencies and buying, among other things, Brazil's real.

These activities incite the following reflection on the whole scammy system. The trouble with today's capitalism is that there is little honest capital left in it. It has been drained away by debt and fraud. Real capitalism requires solid capital - money you can trust. But real money disappeared nearly 40 years ago.That was when the last traces of gold were removed.This is when the US started the prinring presses non-stop to finance the Vietnam war.
Since then, all currencies have been "managed." No longer fixed measures of real wealth, they have become tools supposedly used by the authorities to promote full employment and growth but in fact little more than monetary pyramid schemes.

Since 1971 the supply of money has increasead much faster than the supply of goods and services. US money supply (M2) rose 1,314% between 1970 and 2008, from $624 billion to $8.2 trillion.

It seems to me that currency wars are just the beginning of full trade wars.When it is over, every managed currency in the world will be dead or wounded. But we will be wiser, too. When the end comes, everyone will know that the currencies they hold will be worth nothing.