Chinese official urges buying of gold, U.S. land: report

A top Communist Party research chief said Thursday that China should buy gold and U.S. real estate rather than Treasurys, according to a Reuters report.

Li Lianzhong, who is head of economics at the party’s policy research office, said the U.S. dollar is poised for a fall, making gold and land better investments for China’s $1.95 trillion in foreign exchange reserves, the report said…

Click here for full article

Putin: We must end monopoly in world finance

The Russian Prime Minister, Vladimir Putin, has called for a complete overhaul of the world’s financial system in order to guarantee stability and ensure progress. He was speaking in Astana in Kazakhstan, where the Shanghai Cooperation Organisation is meeting to in discuss the global financial crisis.

Click here for full article

Other countries unlikely to buy U.S. bailout bonds, China banker says

The U.S. dollar will face short-term fluctuations and weaken in the long run, a leading Chinese banker predicted here on Sunday.

Speaking at the Summer Davos forum in this north China port city, Bank of China Vice President Zhu Min said he believed it would be less likely for the United States to sell more treasury bonds to other countries to obtain the funds needed to bail out the turmoil-beleagued financial market, which would only accelerate inflation in other countries.

Instead, the U.S. could only issue other bonds to finance the rescue plan, which Zhu said would definitely cause the dollar depreciation in the long term. The bailout fund will have topped $1 trillion U.S. dollars if the U.S. Congress passes the Fed’s $700 billion financial rescue plan.

Click here for full article


This is going to be quick and dirty today. No cute cartoons. No philosophizing. We haven’t time for any of that today.

I believe we are on the verge of the outbreak of World War III. Right now.

If I’m wrong, then so be it. I’ll apologize for being overreactive later. Too much hangs in the balance if I am right. Treat it as an exercise if you like. A practice for when the real thing happens, because you can be sure the real thing will happen … and soon.

For those who follow my writings and know just how right I usually am, be advised that I consider this to be very likely in the very near term (within the next week or two), highly likely within the next month or two and dead certain within the next year or two. I am uncertain only about the timing, not the outcome. The outcome is worldwide war, of course, and the likely defeat of America.

Click here for full story

The Chinese Invasion

Part 1

Part 2

Part 3

China quake epicentre evacuated

A Chinese county near the epicentre of a 7.9 magnitude earthquake has been ordered to evacuate amid fears that a lake may burst its banks.

Thousands fled Beichuan town in central Sichuan province on Saturday to escape possible flooding.

Soldiers carried older people to safety while survivors cradled babies on a road jammed with vehicles.

A policeman told the Associated Press news agency on Saturday that rescuers were worried that water from the lake would inundate Beichuan.

“The lake was jammed up by a landslide and may burst. That is what we are worried about,” he said without giving his name.

The official Xinhua News Agency said earlier that a lake in Beichuan county “may burst its bank at any time”.

It said 46 seriously injured people were in “dire need of help” in Beichuan, where the water level was rising rapidly.

Click here for full story

Thousands killed in China quake

The toll from a powerful earthquake that struck southwest China has crossed the 10,000 mark, state media said.

Buildings collapsed and telephone links in several areas snapped after the magnitude 7.5 quake struck 92km northwest of Chengdu, the capital of Sichuan province, at 2:48 local time (0628 GMT) on Monday.

The quake was felt across a number of cities in Southeast Asia, including the Thai capital Bangkok, more than 1,800km from the epicentre in the county of Wenchuan.

The mountainous region has a population of about 100,000 people and Al Jazeera’s reporter in the area said aftershocks were continuing.

Click here for full story