I know it seems like currency related topics are taking over, even this blog that would rather discuss solutions to our lives' sustainability issues than what is forlorn hope, anyway; but I should, at least, mention today being a special day for Germany and the rest of Europe.
As expected China does not miss any chance to stay on top of the game and therefore will help Greece with a €3.6bn fund designated to buy Chinese ships. Interest will be ultra low, so Greece will be able to undercut international shipping rates running the latest state-of-the-art-ships even more. China gets its money back which is nothing else but those USD bonds which the US are printing, printing and again printing - in what obviously are totally uncontrolled but desperate processes (from 3 minutes in the video becomes really painful for Madame Inspector General for the Federal Reserve Coleman!):
Yes, the video dates back to 2009, March; but yes, the ECB, the BoE and the BoJ are all busy sucking up (their own) bonds, approving dozens of Bad Banks while pressing return, return, return - nothing else but the modern, though very green alternative, of printing money ponziing the scheme!
That wouldn' bother me too much; what really bothers me is the fact that while some countries seek their rescue in printing, others print and at the same time implement cuts that threaten social peace while all the custs of this world won't catch up with what is thrown into black holes and banksters' pockets.
This could all be cut short: new banks, new money, corrected rules, all said already long ago! Alone, now it needs new currencies as well! So, what's next? The longer we wait the more damage will be done.
The human races' stupidity to not being able to keep pace learning while progressing is closing in on the worst case scenario.
But then there seems to be one country on the edge of a continent, far away, one human race, that understood the rules and regulations of what it was allowed and invited to play with faster and better than all the others combined: China! The one and only global player which has now, watching its rivals' disintegration, decided to spur domestic demand to stabilise economy.
The rest is putting funny text over aging generations' hymns.