[For the audio version of this article refer here.] In case you haven’t been able to hear under all the media thunder of doomsday prophesying by so-called “experts” on China’s future economic performance (which has been going on for close to a decade and is more akin to wishful thinking than economic analysis), Japan’s economy does not require a prophet or crystal ball to tell you what lies ahead in its very near future: that is, that Japan has become the
A thrill to look behind the social mask of the Anglo -American strategy to destroy the sovereign thinking of countries of their ability to think for what is good for its citizens.
so many examples. SO many examples. the phrase "voodoo" comes to mind. it's the chief Anglo superpower to possess the inner thinking in toto, of everyone with their whispers. mind blowing control.
AHH, AmeriKKKa is the empire of chaos, pain, subjugation, sanctions, coups, murder, and here, an interesting look at how USA Inc., is going after CHINA.
Let’s see if I got this right: A significant portion of China’s freight (along the northern corridor) has been blocked due to sanctions (on Russia). So, the only viable alternative is the “Middle Corridor” ..”across the Caspian sea to Azerbaijan” which is currently experiencing an uptick in violence between Azerbaijan and Armenia. Even more suspicious is the fact that on September 25, diehard neocon Samantha Power unexpectedly visited Yerevan, the capital of Armenia, and delivered a statement in which she emphasized the Biden administrations support for country. Not surprisingly, she also called for an “international presence” on the ground which suggests an eagerness on the part of the US and NATO to get involved in yet another foreign territorial dispute. Check it out:
A legion of rabid dogs, from Blackrock to TriLateral Comm. to MIC to Big Everything is Connected Complex, is a troubling thing for the world to contain!
As a long time resident of Japan, I have to say that much of this strikes home in a disturbing way. I was already famliar with the work of Richard Werner, but this article confirms much of what I already knew. Thank you for posting it.
It is fascinating to read. The Plaza Accord, and shock therapy described by Princes of Yen Documentary SET UP the world for the offshoring to China, and the beginnings of China's WTO innings as well! You missed mentioning that point. I think the trilateral schemers and blue bloods wanted China to be the factory of the world, full stop. It was necessary to take Japan's own manufacturing prowess off line. (Even today, the US is not quite a free market for Japanese goods, never mind they are made here in the US, never mind Japan is an "ally": witness the hollywood denigration campaign against the Prius in its introduction! but elon musk on the other hand is god).
Japan simply can NOT raise rates. The BoJ is a tinder box waiting to unleash nuclear inflation should it raise rates even to 1%. It would be nuclear. The only way to counter Yen implosion would be "real adjustment", the economy would HAVE TO EXPORT. So much for the "structural adjustment".....! back to square 1.
'On Nov 9th, 1978, Trilateral Commission member Paul Volcker (Federal Reserve Chairman from 1979-1987) would affirm at a lecture delivered at Warwick University in England: “A controlled disintegration in the world economy is a legitimate object for the 1980s.”'
Cynthia, you can't write this.
These are not Volcker's words: he was quoting Fred Hirsch, in whose honour he was giving the lecture. In fact Volcker disagreed with Hirsch on this point, and called, not for a 'controlled disintegration', but for a 'managed integration'.
Thank you for your comment Jeremy, I will clarify it in my text, however, this does not change anything qualitatively of what I have written in this paper nor of Volcker's intention. That is, Volcker is just promoting a new phrasing, a new window dressing as a name for the never-changing, always constant goal. What Volcker is calling for in this speech is towards a League of Nations form of organizing vassal economies, thus his term "managed integration" is a fitting name towards such a goal. He says within this speech "To me, the charge to find a crisis-free system could not be satisfied. The passage of time has not altered the judgment. In an open-system, the external constraint is there. If ignored for long, a crisis will develop. But a crisis can also be therapeutic - it forces a response....The problems in reaching that limited agreement provided ample warning of the inherent difficulty of reconciling the varied objectives of different countries when no single participant felt itself strong enough to, in effect, take the risks of underwriting the system. In retrospect, it still seems a remarkable achievement for the industrialized countries to have agreed together on a new grid of exchange rates...Moreover, there was no urge to settle unresolved disputes about the form and nature of convertibility obligations in a new monetary system in the heat of crisis. So, when the new rates came under attack in the market, the alternative of permitting the dollar to float for an indefinite period no longer seemed so unthinkable a step. The industrial countries were tired of trying to make a fixed exchange rate system work, at least without reaching fundamental agreement about the manner in which such a system would work." Hmmm, sounds a lot like a "controlled disintegration" theory after all. He goes on to say "I do not depart from the strong consensus that we have, on a worldwide scale, no other practical choice than to work ahead within the broad framework of a floating system - and that system offers the most promising framework for 'managing integration' as far ahead as we can now see." The floating system effectively removed the economic sovereignty of nation states which is precisely the goal of the League of Nations. So there you have it, Volcker acknowledges that there needed to be a crisis (he does not call it a manufactured crisis of course because that would be regarded as criminal) that there needed to be a crisis in order for them to push through the floating system, and with the floating system they now have the tool they required for "managed integration" and a managed integration towards what? A League of Nations.
Cynthia I appreciate your taking the time to reply.
We'll have to 'agree to disagree' on what this move from a system of fixed exchange rates to one of (manipulated) floating exchange rates means for the world. A number of others have done good work on this, including Yanis Varoufakis and Joseph Halevi, with their 'Global Minotaur' thesis (although they too, sadly, misread Volcker's quotation as being his own words, thoughts and intentions). And we should not be surprised that the United States has created a system which favours itself above all others - this is the nature of power, and in the chaos of international politics 'advantage takes advantage'.
Where I agree with Volcker is in his saying that there really is no International exchange system which is perfect and crisis-free. Sadly, we're always going to be dealing with a mess, made worse by short-termism, greed and ever-present stupidity. 'Managed integration' to a system which facilitates international trade and investment is a rational end for elites who see more opportunities operating on a 'trilateral' scale than merely on a national scale, and who do not want to see their system frequently roiled by systemic crises. Whether this is the end goal, or there are plans to take it further to a League of Nations outcome, is one that we can continue to debate. In any case I enjoy reading your contributions to the discussion.
A thrill to look behind the social mask of the Anglo -American strategy to destroy the sovereign thinking of countries of their ability to think for what is good for its citizens.
"Anglo -American strategy"
Jewish too
so many examples. SO many examples. the phrase "voodoo" comes to mind. it's the chief Anglo superpower to possess the inner thinking in toto, of everyone with their whispers. mind blowing control.
Thank you. Very enlightening.
Tour de force. Excellent research. Extremely disturbing and enlightening at the same time
Excellent, fascinating article and deeply disturbing. Looking forward to the next piece. Thank you!
AHH, AmeriKKKa is the empire of chaos, pain, subjugation, sanctions, coups, murder, and here, an interesting look at how USA Inc., is going after CHINA.
Let’s see if I got this right: A significant portion of China’s freight (along the northern corridor) has been blocked due to sanctions (on Russia). So, the only viable alternative is the “Middle Corridor” ..”across the Caspian sea to Azerbaijan” which is currently experiencing an uptick in violence between Azerbaijan and Armenia. Even more suspicious is the fact that on September 25, diehard neocon Samantha Power unexpectedly visited Yerevan, the capital of Armenia, and delivered a statement in which she emphasized the Biden administrations support for country. Not surprisingly, she also called for an “international presence” on the ground which suggests an eagerness on the part of the US and NATO to get involved in yet another foreign territorial dispute. Check it out:
https://www.unz.com/mwhitney/war-fever-why-china-should-prepare-for-the-worst/?utm_source=email&utm_campaign=mwhitney
+--+
A legion of rabid dogs, from Blackrock to TriLateral Comm. to MIC to Big Everything is Connected Complex, is a troubling thing for the world to contain!
https://www.unz.com/mwhitney/war-fever-why-china-should-prepare-for-the-worst/?utm_source=email&utm_campaign=mwhitney
As a long time resident of Japan, I have to say that much of this strikes home in a disturbing way. I was already famliar with the work of Richard Werner, but this article confirms much of what I already knew. Thank you for posting it.
Thank you
It is fascinating to read. The Plaza Accord, and shock therapy described by Princes of Yen Documentary SET UP the world for the offshoring to China, and the beginnings of China's WTO innings as well! You missed mentioning that point. I think the trilateral schemers and blue bloods wanted China to be the factory of the world, full stop. It was necessary to take Japan's own manufacturing prowess off line. (Even today, the US is not quite a free market for Japanese goods, never mind they are made here in the US, never mind Japan is an "ally": witness the hollywood denigration campaign against the Prius in its introduction! but elon musk on the other hand is god).
Japan simply can NOT raise rates. The BoJ is a tinder box waiting to unleash nuclear inflation should it raise rates even to 1%. It would be nuclear. The only way to counter Yen implosion would be "real adjustment", the economy would HAVE TO EXPORT. So much for the "structural adjustment".....! back to square 1.
'On Nov 9th, 1978, Trilateral Commission member Paul Volcker (Federal Reserve Chairman from 1979-1987) would affirm at a lecture delivered at Warwick University in England: “A controlled disintegration in the world economy is a legitimate object for the 1980s.”'
Cynthia, you can't write this.
These are not Volcker's words: he was quoting Fred Hirsch, in whose honour he was giving the lecture. In fact Volcker disagreed with Hirsch on this point, and called, not for a 'controlled disintegration', but for a 'managed integration'.
You can find Volcker's lecture here - please read it carefully: https://www.newyorkfed.org/medialibrary/media/research/quarterly_review/1978v3/v3n4article1.pdf
Thank you for your comment Jeremy, I will clarify it in my text, however, this does not change anything qualitatively of what I have written in this paper nor of Volcker's intention. That is, Volcker is just promoting a new phrasing, a new window dressing as a name for the never-changing, always constant goal. What Volcker is calling for in this speech is towards a League of Nations form of organizing vassal economies, thus his term "managed integration" is a fitting name towards such a goal. He says within this speech "To me, the charge to find a crisis-free system could not be satisfied. The passage of time has not altered the judgment. In an open-system, the external constraint is there. If ignored for long, a crisis will develop. But a crisis can also be therapeutic - it forces a response....The problems in reaching that limited agreement provided ample warning of the inherent difficulty of reconciling the varied objectives of different countries when no single participant felt itself strong enough to, in effect, take the risks of underwriting the system. In retrospect, it still seems a remarkable achievement for the industrialized countries to have agreed together on a new grid of exchange rates...Moreover, there was no urge to settle unresolved disputes about the form and nature of convertibility obligations in a new monetary system in the heat of crisis. So, when the new rates came under attack in the market, the alternative of permitting the dollar to float for an indefinite period no longer seemed so unthinkable a step. The industrial countries were tired of trying to make a fixed exchange rate system work, at least without reaching fundamental agreement about the manner in which such a system would work." Hmmm, sounds a lot like a "controlled disintegration" theory after all. He goes on to say "I do not depart from the strong consensus that we have, on a worldwide scale, no other practical choice than to work ahead within the broad framework of a floating system - and that system offers the most promising framework for 'managing integration' as far ahead as we can now see." The floating system effectively removed the economic sovereignty of nation states which is precisely the goal of the League of Nations. So there you have it, Volcker acknowledges that there needed to be a crisis (he does not call it a manufactured crisis of course because that would be regarded as criminal) that there needed to be a crisis in order for them to push through the floating system, and with the floating system they now have the tool they required for "managed integration" and a managed integration towards what? A League of Nations.
Cynthia I appreciate your taking the time to reply.
We'll have to 'agree to disagree' on what this move from a system of fixed exchange rates to one of (manipulated) floating exchange rates means for the world. A number of others have done good work on this, including Yanis Varoufakis and Joseph Halevi, with their 'Global Minotaur' thesis (although they too, sadly, misread Volcker's quotation as being his own words, thoughts and intentions). And we should not be surprised that the United States has created a system which favours itself above all others - this is the nature of power, and in the chaos of international politics 'advantage takes advantage'.
Where I agree with Volcker is in his saying that there really is no International exchange system which is perfect and crisis-free. Sadly, we're always going to be dealing with a mess, made worse by short-termism, greed and ever-present stupidity. 'Managed integration' to a system which facilitates international trade and investment is a rational end for elites who see more opportunities operating on a 'trilateral' scale than merely on a national scale, and who do not want to see their system frequently roiled by systemic crises. Whether this is the end goal, or there are plans to take it further to a League of Nations outcome, is one that we can continue to debate. In any case I enjoy reading your contributions to the discussion.