noworldsystem.com


Some Halloween Candies May Contain Melamine, GM Sugar

Halloween Candy With Melamine on U.S. Store Shelves?

http://www.youtube.com/watch?v=nUB79WJ9ktQ

 

This Halloween, Say No To Candy Containing GM Sugar

Joanne Waldron
NaturalNews
October 27, 2008

Parents in Brazil are refusing to feed their children products made using genetically-modified sugar, according to an article at Food & Water Watch. Halloween is just around the corner, and unbeknownst to many American parents, foods like Kellogg’s cereal and Hershey’s chocolate may be made with sugar from genetically-modified sugar beets, warns Kisha Lewellyn Schlegel in a report at NewWest.net. There are many reasons that parents of American children need to be concerned.

Why Would They Use GM Sugar Beets?

Not surprisingly, it’s all about the money. These sugar beets have been genetically altered so that they can withstand regular applications of a weed killer made by Monsanto known as RoundUp. The Environmental Protection Agency (EPA) recently increased the allowable residue of the active ingredient of the weed killer (known as glyphosate) on beetroots by a whopping 5000%. Those scientists at the EPA are really doing their jobs protecting everyone, eh?

What’s The Trouble With Glyphosate?

So, what’s the trouble with the weed killer residue? Probably the biggest issue is that there have been studies linking glyphosate exposure to cancer and other health problems. Of course, there is also the Network of Concerned Farmers, a group of farmers who believe that glyphosate can create “super weeds” that are resistant to herbicides. Then, of course, there is a concern that these frankenfood crops may be responsible for the gene pollution of other crops and plants.

Monsanto Hires a Team of Lobbyists – Parents Must Take Action!

While the sugar industry is trying to keep their use of genetically-modified sugar beets quiet, Monsanto has hired a whole team of lobbyists to work on their behalf. This is why it is very important for concerned parents to make their views known before it is too late! Contact Nancy Pelosi at AmericanVoices@house.gov, and tell her that laws are needed to protect consumers from genetically-modified sugar beets. It is also important to send faxes to lawmakers. One can (at the time of this writing) send two free faxes per day at FaxZero.com right from any computer with an Internet connection (see terms and conditions at the site). Consumers should never have to worry about getting cancer from eating a piece of Halloween candy. (Even if parents are strict about what their children eat at home, it’s hard to police what they might be given at at class parties at school.) Why not send a free fax to two different lawmakers every single day? If enough people complain, lawmakers will have to listen. E-mail or fax this article to lawmakers today.

Don’t Support Child Slave Labor

Unfortunately, there is another reason to be concerned about the candy one purchases. According to an article by Dr. Edward Group, two of the companies that rule the chocolate industry (M&M/Mars and Hershey’s) purchase much of their cocoa from the Ivory Coast. Unfortunately, Ivory Coast cocoa farms use child slave labor to work their farms. Parents must consider whether they really want their children indulging in sweets made at the expense of other children.

Dr. Group: Put Your Money Where Your Health Is

Dr. Group believes parents can make their voices heard by voting with their dollars, by purchasing only organic chocolate and candy products. Dr Group asks parents to ask themselves if they would buy a chocolate bar if the label on the product said: “Consuming this candy bar may cause cancer – contains sugar from genetically engineered beets, cocoa harvested by child slaves, and harmful pesticides and fungicides.” Sounds much less appealing, doesn’t it?

 



FDA Approves Melamine In U.S. Food, Claims It’s Not Harmful

FDA Approves Melamine In U.S. Food, Claims It’s Not Harmful

AP
October 4, 2008

http://www.youtube.com/watch?v=FuZRtlj7Mhs

Eating a tiny bit of a melamine, the chemical responsible for a global food safety scare, is not harmful except when it’s in baby formula, U.S. food safety officials said Friday.

Melamine-tainted formula has sickened more than 54,000 children in China and is being blamed for the deaths of at least four tots. The chemical has also turned up in products sold across Asia, ranging from candies, to chocolates, to coffee drinks, that used dairy ingredients from China. Authorities in California and Connecticut have found melamine in White Rabbit candies imported from China.

Read Full Article Here

 

FDA Conspired with Chemical Industry to Declare Bisphenol-A Harmless

Mike Adams
Natural News
October 24, 2008

The FDA has been caught red-handed conspiring with the chemical industry to conclude that Bisphenol-A, the plastics chemical, is harmless to human health. As revealed by the Environmental Working Group (see below), the FDA based its evaluation of BPA on a report authored by the American Chemistry Council (ACC), a trade group that represents chemical companies and plastics manufacturers.

The FDA’s evaluation concluded that BPA was perfectly safe for consumers of any age, including infants. This conclusion stands in direct opposition to the Canadian government, which declared BPA to be a toxic chemical on Oct. 18 and moved towards banning the chemical in baby bottles.

Even the U.S. National Institutes of Health says BPA may be dangerous, admitting it is concerned about BPA’s “effects on development of the prostate gland and brain and for behavioral effects in fetuses, infants and children.”

How the FDA conspires with industry

The FDA, however, has never met a corporate-sponsored chemical it didn’t like. Thanks to industry pressure, the FDA has once again stepped to the tune of private industry while betraying the safety of the American consumer. This decision on BPA is the latest example of why the FDA has become an enormous threat to the health and safety of the American people.

Two days ago, NaturalNews reported the FDA’s masterminding of an extortion racket that targets small health supplement companies and threatens their owners with imprisonment if they don’t pay huge sums of money to FDA contractors (http://www.naturalnews.com/024567.html).

It is now clear to most independent observers that the FDA is operating a criminal protect racket that seeks to multiply the profits of drug companies and chemical companies while betraying the health and safety of the American people. FDA decision boards are routinely stacked with “experts” who are on the take from the corporations impacted by their decisions, and even while the FDA is giving the big thumbs up to deadly pharmaceuticals and cancer-causing chemicals, it is targeting health supplement companies with threats so severe they would be considered criminal if uttered by anyone else.

Thanks to the FDA, it remains illegal in the United States to even link to a scientific study on the health benefits of cherries if you happen to sell cherries. Telling the truth about anti-cancer herbs can land you in prison, and placing a customer testimonial on your health product website can earn you a visit from FDA agents accompanied by armed SWAT-style assault teams (http://www.naturalnews.com/021791.html).

The FDA, it seems, has turned reality upside down and is now telling us that all the poisons are safe while all the natural substances are dangerous. Consider this:

According to the FDA:

• Aspartame is perfectly safe, but stevia is too dangerous to use in foods

• Vioxx is perfectly safe, but cherries are too dangerous to treat arthritis pain

• Chemotherapy is safe enough for everyone, but anti-cancer herbs might poison you

• Vaccines are so safe that we should inject all our teenage girls with them, but Vitamin D has no biological benefit whatsoever and has no effect on preventing infections

• Bisphenol-A is safe enough for babies to drink, but human breast milk is dangerous and outlawed from being sold

The FDA: Harming babies for profit

The number of babies that have been harmed or killed by the FDA is beyond accounting. This agency, through its outright abandonment of its duty to protect the People, has established itself as the single most dangerous organization operating on U.S. soil, far exceeding the harm posed by criminal gangs, white-collar criminals or even terrorist cells.

Read Full Article Here

FDA Running Extortion Racket: Natural Supplement Companies Threatened with Arrest if They Don’t Pay Up
http://www.naturalnews.com/024567.html

FDA Covers-up Big Pharma’s Pills Contaminated With Machine Particles
http://www.naturalnews.com/024625.html

 



Oil is $63 a Barrel, Lindsey Williams Predicted $50

Lindsey Williams Predicted Oil Will Be $50 a Barrel
Insider of the Global Elite was told: “Price of crude oil is going down to $50 a barrel. . . gas will be $2 to $2.50 a gallon” (1st video @ 7:11). “The entire Arab world will be bankrupt” (2nd video @ 7:34) “. . . you are going to shout and dance on the street at $2 a gallon and mark my words within 3-4 weeks time you are going to shutter in your boots because the dollar is going to go to zero, they’ll have an excuse to bring in the North American Union, they will be able to issue a new currency . . .” (3rd video)

http://www.youtube.com/watch?v=9h6Nzr_8lKI
Video 1

http://www.youtube.com/watch?v=Fke1xjLLn-E
Video 2

http://www.youtube.com/watch?v=FeuvaE9Ia7A
Video 3

 

Lindsey Williams on Alex Jones Show, October 26, 2008

http://www.youtube.com/watch?v=Xr1SyiSk3dM

http://www.youtube.com/watch?v=-QBB2QHzon4

http://www.youtube.com/watch?v=eBq5yGpfe4E

 

Oil falls to $63, OPEC plans on cutting supply of oil

AP
October 26, 2008

Oil prices fell to 17-month lows at $63 a barrel Monday in Asia as investors weighed Friday’s OPEC output cut against growing evidence of a severe global economic slowdown that would undermine crude demand.

Light, sweet crude for December delivery fell 32 cents to $63.83 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore.

Investors brushed off a 1.5 million barrel-a-day cut announced by the Organization of Petroleum Exporting Countries on Friday, focusing instead on falling crude demand as economies across the globe reel from the impact of a credit crisis.

On Friday, oil fell $3.69 to settle at $64.15. Prices have plunged 57 percent from a record $147.27 on July 11.

“The mood is fairly negative reflecting worry about the international economic outlook,” said David Moore, a commodity strategist at Commonwealth Bank of Australia in Sydney. “If there is further weak economic data in the U.S. or Europe, prices could come under more downward pressure.”

Iran’s OPEC governor Mohammad Ali Khatibi said Sunday a reduction in production “will be considered” at the group’s next meeting in Algiers in December — a meeting that might even be held early if necessary.

“I thought the OPEC cut was a fairly decisive act, but concerns of recession in the major economies remain dominant,” Moore said. “OPEC’s cut does take a step toward tightening the market.”

Read Full Article Here

Largest Drop Ever In Gas Prices
http://www.reuter..dName=domesticNews&rpc=22&sp=true

Oil Can Fall to $50-$60 if Credit Stays Tight
http://www.cnbc.com/id/27160853

Oil down 50pc from July high
http://www.telegraph.co.uk/finance/finance..-July-high.html

 



Globalists Call For A One World Currency
October 26, 2008, 3:31 pm
Filed under: 2008 Election, Amero, angela merkel, asia, bailout, Bank of America, Big Banks, brad sherman, Britain, C-Span, Canada, Carroll Quigley, central bank, CFR, China, civil liberties, civil rights, CNBC, Congress, corporations, corporatism, Credit Crisis, DEBT, Dictatorship, Dollar, ECB, Economic Collapse, economic depression, Economy, Empire, Europe, european central bank, european union, Fascism, Federal Reserve, France, g8, George Bush, Germany, glenn beck, global economy, global elite, global government, Globalism, gordon brown, Great Depression, Greenback, Habeas Corpus, henry paulson, Hitler, House, hyperinflation, imf, Inflation, interest rate cuts, internationalist, internationalists, job market, John McCain, liquidation, london, Martial Law, Media, middle class, morgan stanley, mortgage, national socialism, Nazi, New World Order, paris, Paulson, peter schiff, Police State, Posse Comitatus, rate cut, Sarkozy, Senate, single currency, socialism, sovereignty, Stock Market, tax, Taxpayers, unemployment, United Kingdom, US Economy, us sovereignty, US Treasury, Wall Street, World Bank, WW2, Zimbabwe | Tags: , , , , , , , , , , , , , , , , , , , ,

Globalists Exploit Financial Meltdown In Move Towards One World Currency

Paul Joseph Watson & Kurt Nimmo
Prison Planet
October 20, 2008

The swift and ruthless exploitation of the economic meltdown on behalf of globalists and central banks revolves around their drive to move towards a one world currency system and an unprecedented centralization of global financial power.

Statements on behalf of world leaders and central banks over the past two weeks have made it clear that the agenda to further collate economic power and control of currencies into the hands of the few is rapidly accelerating – all in the name of solving a financial crisis that was caused as a result of the same fiat money system that the elite themselves created and maintained.

The original Bretton Woods agreement in 1944, spurred by the depression of the 1930s and the second world war, created the International Monetary Fund, the World Bank and laid down common standards for markets around the world. Now with the current financial crisis EU leaders see another opportunity to impose global regulations on sovereign economies.

As the crisis reached its peak at the end of September, British Prime Minister Gordon Brown led the call for “a new global financial order in which the world financial system would be built around a centrally coordinated policy of international regulation.

Morgan Stanley Chief Executive John Mack has also called for a new global body to oversee the financial crisis, warning that it is like nothing he’s ever seen before.

The sentiment echoes those of elite figures such as CFR member Jeffrey Garten and Timothy Geithner, president of the Federal Reserve Bank of New York, who have both recently called for a “new global monetary authority”, a de-facto global financial dictatorship, operating across borders and forcing nations and corporations to register and adhere to strict monitoring and regulations.

European Central Bank council member Ewald Nowotny told Bloomberg yesterday that the centrality of the U.S. dollar was in question and that a “tri-polar” global currency system is in development between the U.S., Asia and Europe to replace it.

This followed a call by French President to question whether a “worldwide currency system” should be introduced in response to the financial crisis.

“Another subject in tomorrow’s world is that of the great currencies. How many should there be? What should the agreement between these great currencies be? Should we organize a discussion? Should a country like India one day have a global currency?” Sarkozy told a news conference, reports Reuters.

Any discussion would be purely academic, as the ruling elite long ago decided to force a global currency down our throats. In fact, a global currency is at the very core of their plan to dominate the world. Control money and you control the destiny of states, you eliminate national sovereignty. “The control of money and credit strikes at the very heart of national sovereignty,” A.W. Clausen, president of Bank of America once observed.

As Georgetown professor and CFR historian Carroll Quigley noted, the goal of the banking families and their minions consists of “nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole… controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.”

It remains to be seen if the EU will realize its “solution” to the world economic crisis. In 2007, Robert Mundell, “the father of the euro,” noted that “international monetary reform usually becomes possible only in response to a felt need and the threat of a global crisis.”

Certainly, the elite cooked up an appropriate global crisis, now they will engage in a full court press to establish a global currency and eventually a global government.

 

EU Leaders Call for Global Currency

Kurt Nimmo
Infowars
October 18, 2008

If we are to believe the Washington Post, French president and current EU leader Nicolas Sarkozy has pledged to save us from nameless “freewheeling bankers and traders” who get the blame for the current economic crisis.

Sarkozy, Gordon Brown, and EU honcho José Manuel Barroso are talking up an international summit to discuss an “urgent overhaul of the world’s financial architecture,” that is to say a new Bretton Woods to establish a brand spanking new international economic order. Sarkozy has managed to grab George Bush’s ear and he will travel to Washington on Saturday to lay the groundwork for a conference.

In 1944, 44 allied nations met at a resort in Bretton Woods, New Hampshire, to fiddle with monetary standards, fix exchange rates, and create the IMF and World Bank. “Launching a remake of this old model — particularly in such a short time, with so many new participants — would represent a daunting challenge at any time, but particularly during the twilight of the Bush presidency and the crisis that is still jolting banks and stock markets around the world,” reports the Post.

Sarkozy and the EU leaders would have us believe this new Bretton Woods will call for “globally coordinated regulation of the financial industry, elimination of tax havens and a compensation system in which traders are not rewarded for dangerous risk-taking,” among other things.

It was the demise of Bretton Woods in 1971, insists European Central Bank president Jean- Claude Trichet, that led to the abandonment of regulation and subsequent market turmoil. “The explosion of the first Bretton Woods in a way could be interpreted as a rejection of discipline,” said Trichet, reports Bloomberg.

Gordon Brown, the former Chancellor of the Exchequer, wants to fix that turmoil with a new spate of regulations aimed at international finance. On October 13 in London, Brown said “we must devise new rules for a world of global capital flows” just as the founders of Bretton Woods “devised rules for a world of limited capital flows.”

http://www.youtube.com/watch?v=wFs99zBTRO0

“We now have global financial markets but what we do not have is anything other than national and regional regulation and supervision,” Brown lamented from Brussels.

All of this is nonsense. It should be obvious by now the bankers engineered the current crisis in order to consolidate their hold on the global economy and all the talk about rogue traders, tax havens, and over-compensated executives is merely that — talk, or more specifically a sales pitch, a slick parlor trick devised to fool the commoners.

Glossed over in all the corporate media coverage is the global elite demand that a global currency be established. “Europe wants to present a blueprint for a new worldwide currency system,” reports the AFP in the video here.

“Another subject in tomorrow’s world is that of the great currencies,” Reuters reported Sarkozy musing on October 16. “How many should there be? What should the agreement between these great currencies be? Should we organize a discussion?”

Read Full Article Here

 

Glenn Beck On One World Currency
“There is a global meltdown coming, it is a global depression, a One World Currency and One World Financial System is the ENDGAME! China said last week said they want One Global Currency, France said yesterday or the day before that they want One World Order a New World Order at the end of this event!” – Glenn Beck

http://www.youtube.com/watch?v=SKsiZdOD5u4

http://www.youtube.com/watch?v=jB9fuIvksLw

CNBC: The New World Order is in effect on wall street

http://www.youtube.com/watch?v=RJJ6OYVsLtc

Calls For New Global Financial Order Increase
http://www.prisonplanet.com/calls-for-new-global-financial-order-increase.html

Tri-Polor Global Currency A Possibility
http://www.bloomberg.com/apps..&sid=apjqJKKQvfDc&refer=home

Agree Canada, EU Agree To Negotiate Economic Partnership
http://www.nationalpost.com/news/story.html?id=885494

G-8 Announces Global Summit On Financial Crisis
http://news.yahoo.com/s/a..t=Ah6wNwIX5KlE5B1m5eFoDXlbbBAF

Bush & Allies Pledge Joint Action On Economy
http://www.youtube.com/watch?v=InFBnX87lzU

Brown: Use This Crisis To Create New Financial World Order
http://www.prisonplanet.com/..new-financial-world-order.html

 



Police use water cannon on anti-Bush protesters in South Korea
Police use water cannon on anti-Bush protesters in South Korea

Canada Press
August, 5, 2008

http://www.youtube.com/watch?v=MRBAG4WqqVg

http://www.youtube.com/watch?v=aZ5V1kfd4pE\

Police fired water cannons at thousands of protesters Tuesday as U.S. President George W. Bush got a volatile reception in South Korea at the start of his Asian trip.

Duelling demonstrations reflected mixed sentiments in South Korea, where public opinion surveys remain generally positive about America, though many people decry Washington for a variety of issues.

Bush will meet Wednesday with President Lee Myung-bak for the third time since the conservative, pro-American leader took office in February.

Some 18,300 police were on high alert with riot gear and bomb-sniffing dogs to maintain order during Bush’s brief visit, the National Police Agency said.

About 30,000 people gathered in front of Seoul City Hall for an afternoon Christian prayer service supporting Bush’s trip. Large South Korean and U.S. flags were held aloft by balloons overhead along with a banner reading, “Welcome President Bush.”

As evening approached, an estimated 20,000 anti-Bush protesters gathered nearby. Police turned water cannons on them as they tried to move onto the main central downtown boulevard, telling the crowd that the liquid contained markers to tag them so they could be identified later.

“I don’t have anti-U.S. sentiment. I’m just anti-Bush and anti-Lee Myung-bak,” said Uhm Ki-woong, 36, a businessman who was wearing a mask and hat like other demonstrators in an apparent attempt to conceal his identity.

Twelve demonstrators were arrested, along with another 12 at an earlier attempted demonstration near the military airport where Bush landed, police said.

Read Full Article Here

 

South Korean Officer Opposes Violent Crackdown on Peaceful Protesters

http://www.youtube.com/watch?v=n6ZRjnm6mAs

 



More Evidence Madrid Bombing was a False Flag

More Evidence Madrid Bombing was a False Flag

Kurt Nimmo
Infowars
July 17, 2008

Agence-France Presse reports:

Spain’s supreme court Thursday overturned the guilty verdicts on four of the 21 people convicted over the Madrid train bombings that killed 191 people in 2004.

It also upheld a lower court’s decision to acquit one of the alleged masterminds of the Al Qaeda-inspired attacks, Rabei Ousmane Sayed Ahmed, known as “Mohammed the Egyptian”.

And it handed down a four-year prison term to a Spaniard, Antonio Toro, who had been acquitted on charges of transporting explosives.

Note: the attack is no longer considered the direct handiwork of al-Qaeda but is rather an “al-Qaeda inspired attack.” Back in March, 2004, the corporate media resoundingly declared al-Qaeda to be responsible.

The supreme court Thursday overturned the convictions of Basel Ghalyoun and Mohamed Almallah Dabas, both condemned to 12 years in prison for belonging to a terrorist group.

It also cleared Abdelilah El Fadual El Akil, condemned to nine years for collaborating with a terrorist group, as well as Raul Gonzalez Pena, who had received five years for supplying explosives.

In other words, according to Spain’s Supreme Court, these people did not belong to a terrorist group, at least not an Islamic terrorist group. Apparently, there was not enough evidence to stay the conviction of “Mohammed the Egyptian,” said to be the ringleader, and his conviction was thrown out as well.

The court in October had handed down the heaviest sentences to two Moroccans — Jamal Zougam and Othman el-Gnaoui — and a Spaniard, Jose Emilio Suarez Trashorras.

As it turns out, Trashorras and a compatriot, Antonio Toro, were government informants, a fact reported by the New York Times and the Times Online. Toro was recently handed a four-year prison for transporting explosives.

The History Commons on the Cooperative Research website notes the following:

It is revealed that the man accused of supplying the dynamite used in the March 2004 Madrid train bombings was an informant who had the private telephone number of the head of Spain’s Civil Guard bomb squad. Emilio Suarez Trashorras, a miner with access to explosives, as well as an associate named Rafa Zouhier both regularly informed for the Spanish police, telling them about drug shipments. Trashorras began working as an informant after being arrested for drug trafficking in July 2001, while Zouhier became an informant after being released from prison early in February 2002. Shortly after the Madrid bombings, investigators discover that Trashorras’ wife Carmen Toro has a piece of paper with the telephone number of Juan Jesus Sanchez Manzano, head of Tedax, the Civil Guard bomb squad. She and her brother Antonio Toro are also informants.

In short, Trashorras and Toro are patsies and the evidence indicates the Spanish Civil Guard bomb squad was behind the bombing and a phantom “al-Qaeda inspired” terrorist group was simply a contrivance designed to feed public hysteria.

http://www.youtube.com/watch?v=bE3eIdDRpLc

All of this is reminiscent of murderous Operation Gladio false flag operations carried out by the CIA, NATO, the P2 Masonic lodge, and their fascist allies in Italy in the 1970s and 1980s, operations designed to be blamed on communists. “One of P-2’s specialties was the art of provocation. Leftist organizations like the Red Brigades were infiltrated, financed and / or created, and the resulting acts of terrorism, like the assassination of Italy’s premier in 1978 and the bombing of the railway station in Bologna in 1980, were blamed on the left. The goal of this ’strategy of tension’ was to convince Italian voters that the left was violent and dangerous-by helping make it so,” writes Mark Zepezauer.

It now appears obvious the Madrid bombing was a Gladio-like operation designed to frighten and stampede the Spanish public into supporting the bogus war against terror and, as well, re-elect as prime minister José María Aznar, the grandson of a prominent Franco fascist and a favorite of Bush and the neocons. Aznar, however, was roundly trounced in the elections.

Spain’s supreme court clears four convicted Madrid bombers
http://news.yahoo.com/s/afp/20080717/ts_afp/spainattacksappeal

Bali Bomber Claims CIA/Mossad Involvement
http://noworldsystem.com/2008/03/09/bali-bomb..mossad-involvement/

 



Citigroup: Euro May Approach $1.69 by September

Citigroup: Euro May Approach $1.69 by September

Bloomberg
July 2, 2008

The euro may be nearing an “explosive breakout,’’ reaching record levels against the U.S. dollar, according to a Citigroup Global Markets Inc. research note.

The trading pattern, including a so-called double-bottom that tested lows, resembles the one before Feb. 26 that preceded the surge to $1.6019 per euro, analysts Tom Fitpatrick in New York and Shyam Devani in London wrote in the note today.

“ We cannot help but feel that things might be about to get very bad again,’’ the analysts said, referring to the possible combination of falling bond yields and rising oil prices.

The exchange rate may approach $1.69 per euro by September if previous patterns are duplicated, the report said.

The dollar fell to a two-month low, trading at $1.5864 at 12:35 p.m. in New York, down 0.5 percent from $1.5793 yesterday. It earlier touched $1.5887, the weakest since April 24. The dollar reached an all-time low of $1.6019 per euro on April 22.

Read Full Article Here

 

China’s premier urges US to stabilise dollar

AFP
July 1, 2008

Chinese Premier Wen Jiabao has again called on the United States to stabilise the dollar, warning the greenback’s decline was posing threats to the global economy.

“China is taking measures to safeguard its stable economic development,” Wen said during a meeting with visiting US Secretary of State Condoleezza Rice on Monday, according to a statement posted on the foreign ministry’s website.

“(We) hope the US will overcome its subprime crisis soon and stabilise the exchange rate of the US dollar, which is significant to the whole world,” he said, according to the transcript posted late on Monday.

The Chinese currency, the yuan, has appreciated about 20 percent against the dollar over the past three years, which has placed enormous pressure on China’s exporters and forced some out of business.

China’s foreign exchange reserves, by far the largest in the world, hit 1.80 trillion dollars at the end of May, meaning even a small decline in the value of the dollar could cause a big loss to the Chinese treasury’s coffers.

It was the second time this year that Wen had spoken out against the weak dollar and problems in the US economy, and the impacts for China.

“The impact of the US subprime mortgage crisis is expanding, (and) the value of the dollar is continuing to fall,” Wen told China’s annual meeting of parliament in March.

“China is now in a critical period in its reform and development, and we must be fully prepared for changes in the international environment and become better able to defuse risks.”

Central bank governor Zhou Xiaochuan last month spoke out at the falling US dollar, saying it was driving up oil and other commodity prices, stoking inflation and causing pain for developing nations.

 

Factories hit worldwide as commodity prices soar

Reuters
July 1, 2008

Soaring commodity costs are denting manufacturing activity in Asia and Europe and the outlook looks bleak as new orders drop off in the face of rising prices, surveys showed on Tuesday.

Manufacturing activity in the euro zone contracted in June for the first time in three years while business confidence in Asia’s largest export markets is buckling and output has likely contracted further in the United States.

Purchasing managers indices showed manufacturing activity in the euro zone fell to 49.2 in June, China saw its index fall to a near three-year low of 52.0 while in Britain it contracted at its sharpest rate since December 2001.

Read Full Article Here

Recent News:

Soros: “We are in the midst of the worst financial crisis in 30 years”
http://www.stern.de/wirtschaft/unte..orge-Soros-We/625954.html

Shares tumble as global bear market takes grip
http://business.timesonline.co.uk/tol/business/economics/article4272493.ece

Fed Official Admits Inflation Figures Are Cooked
http://www.reuters.com/article/bondsNews/idUSN0332437420080703

U.S. auto sales hit 15-year low
http://www.reuters.com/article/busi..nessNews&rpc=23&sp=true

China should be alert to stagflation risks in fighting inflation
http://english.people.com.cn/90001/90776/90884/6442614.html

Gas Prices Threaten To Shut Down Rural Towns
http://www.usatoday.com/news/nation/2008-07-01-small-town-gas_N.htm

Forclosures will rise no matter who is elected president
http://news.yahoo.com/s/ap/20..OhaMLLr1MN3fQC6hph24cA

L.A., Miami Home Foreclosure Rates More Than Double
http://www.bloomberg.co..=aYchgMdpnpC8&refer=worldwide

U.S. food prices up 8.5 percent from last year
http://www.reuters.com/article/domesticNews/idUSN0236099120080702

US banks lose ’fifth’ of their value
http://www.bloomberg.com/app..BH2KL5bScow&refer=europe

American Airlines to cut 8% of staff
U.S. Economy Loses Jobs For 6th Straight Month
Angry Consumers Flooding Fed With Complaints

U.S. Economic Collapse News Archive