image: news.cube-soft.jpCracks in Washington’s Empire / Asian Infrastructure Bank – End of US Dollar
I have already commented that Chine-led Asia Infrastructure Investment Bank means the end of the dollar. According to the information from Mr. Eiken Itagaki, reformation of World Bank seems to be proceeding, where dollar hegemony seems to end. After all, a new financial system with the World Bank at the top is being built.
However, the existing financial system without supportive evidence can do nothing but to collapse altogether with “the American and British neocon-nazis and their dupes among the populations.” In this process a chaos will temporarily occur. This, however, can’t be helped. We have to make preparation for it as much as possible.
March 18, 2015
Excerpt from a Japanese article: Overseas Articles Reported by Mass Media – March 18, 2015 –
Cracks in Washington’s Empire
Paul Craig Roberts
March 17, 2015
Washington’s EU vassals might be finding their backbone. Britain, Germany, France, and Italy are reported to have defied Washington’s orders and applied to join the Chinese-led Asian Investment Bank. Australia, Japan, South Korea, Switzerland and Luxembourg might also join.
Washington uses its development banks such as the Asian Development Bank, the World Bank, along with the IMF, in order to exercise financial and political hegemony. These banks are crucial elements of American economic and political imperialism.
The Chinese-led bank will, of course, be much more effective. The Chinese will use the bank to actually help countries and thereby make friends and grow trust, whereas Washington uses its banks for domination by force.
This new bank, together with the BRICS Bank, will provide countries with escape routes from Washington’s domination.
The Evil Empire is beginning to crack. It will crack more as the Russian-Chinese alliance unfolds its potentials and when European capitals understand that hegemonic Washington has put their existence at risk in order to try to prevent Russia’s rise. The crazed American and British neocon nazis, and their dupes among the populations, comprise the greatest human threat that the world has ever known. The sooner the Evil Empire collapses, the safer the world will be.
Excerpt from a Japanese article: Trend of Japan, World and Universe – March 18, 205 –
Asian Infrastructure Investment Bank
Following Britain, EU major powers such as Germany, France and Italy have announced their decision to join the China-led “Asian Infrastructure Investment Bank (AIIB).” The U.S. and Japan, which lead the already existing “Asian Development Bank”, have increased a sense of vigilance.
The “Asian Infrastructure Investment Bank” is a China-initiated international financial institution with the aim of financially supporting Asian developing countries with the headquarters in Peking. It is likely that China will hold the first presidency of the bank.
On 12 this month, Britain announced its intention to join the bank. On 17, EU major powers such as Germany, France and Italy have also announced their decision to join the AIIB. The Minister of Finance of the People’s Republic China says, “We consider countries which will announce to join the bank within March as founding members.”
Since four countries of the G7 countries have announced to join the AIIM, it is likely that Switzerland, Australia and South Korea will also move toward joining it like an avalanche. The gap is growing between such countries and the U.S. and Japan which lead the existing “Asian Development Bank (ADB).”
“The international community has to observe whether the AIIB will play a supplementary role to the existing institutions and effectively function together with them.” (White House Press Secretary Josh Earnest)
In response to the announcement to join the AIIM by Germany and France, Whitehouse Press Secretary said on 17, “any newly established multilateral institution has to maintain a high standard as regional development bank” and repeated the Washington’s conventional stance that the governance system and investment standard of the China-led “Asian Infrastructure Investment Bank” are unclear.
He gave a warning that the AIIB “need to effectively function” together with the existing institution such as the U.S./Japan-led “Asian Development Bank” and said that the Washington “has no intention to joint it at this time.”
U.S. Secretary of the Treasury Lew also signified a sense of caution, saying “the AIIB challenges the multilateral system led by the U.S.”
Today’s announcement that Europe (at least the few remaining solvent countries) have agreed to join the Chinese led infrastructure bank is the end of the dollar. We can debate this point but it will not make a difference.
The consequences will soon be felt at the market: both the grocery store and stock market.
Major European “Allies” Desert Obama, Join China-led Infrastructure Bank
It appears the sea of de-dollarization has reached the shores of Europe. With Australia and UK having already moved in the direction of joining the China-led AIIB, The FT reports that France, Germany, and Italy have now all agreed to join the development bank as ‘pivot to Asia’ appears to be Plan B for Europe.
As Greg Sheridan previously noted, “the saga of the China Bank is almost a textbook case of the failure of Obama’s foreign policy,” but as The FT concludes, the European decisions represent a significant setback for the Obama administration, which has argued that western countries could have more influence over the workings of the new bank if they stayed together on the outside.