Click here for information on China’s latest move in the global financial war. This source says China’s largest trading bank has withdrawn future swaps with SocGen (probably a liquidity source for SocGen at the moment). But this post also tells us that China will continue to buy US Treasuries, contradicting other sources that say they are selling. We will have to wait for the next US Treasury report to find out who is really buying what.
September 20, 2011
Click here for the newest from GEAB57. You pay for the whole thing, but they have a very lengthy and important summary. They discuss the 4th quarter and have a very comprehensive view of the real crisis (from Europe’s point of view) and the dangers of the current reaction of global leaders.
Groovygirl’s favorite line:
If LEAP/E2020 had to summarize the “Hollywood style” or “Fox News” (11) scenario, we would have the following synopsis: “While the US iceberg is ramming the Titanic, the crew leads the passengers in search of dangerous Greek terrorists who may have planted bombs on board!” In propaganda terms, it’s a known recipe: it’s a diversion to allow, first of all, the rescue of the passengers one wants to save (the informed elite who know very well that there are no Greek terrorists on board) since everyone can’t be saved; and then, hide the problem’s true nature for as long as possible to avoid a revolt on board (including some of the crew who sincerely believe that there really are bombs on board).