Hi Carol
Great news confirming what I have been saying/reporting all along, that BRIC which is Brazil, Russia, India and China and now many more asian countries stand together against the Fed banksters. [Please see KEY INFO KEY PLAYLISTS KEY WHITE KNIGHTS NEWS YOUTUBE PLAYLISTS to watch, subscribe to &/or RSS
for my
1st you could check all my featured youtube uploads here then the below
BRIC Countries solve Dollar Collapse using National Currency
http://www.youtube.com/view_play_list?p=F969216534E28B4D
and others ESPECIALLY THIS
that will show what I believe are the White Knights against the NWO or I like to say for the people rather then self serving.]
Thanks
Scott
[see more of my comments below this article]
ARTICLE STARTS HERE
AFP/File – A bank teller counts stacks of US dollars and Chinese yuan at a bank in Huaibei, central China's … BRUSSELS (AFP) – A Federal Reserve decison to pump more cash into the struggling US economy got a chilly reception Friday from global economic powerhouses, where officials doubted its usefulness and warned it could even spark a fresh crisis.
China, Germany, Brazil and France all voiced reservations about the move, in which the Fed plans to inject another 600 billion dollars (422.5 billion euros) into the economy.
Through a process known as quantitative easing, the Fed will buy up US Treasury securities in a bid to get more cash into the hands of companies and consumers by making long-term borrowing cheaper.
A European official, who asked not to be named, cautioned that the policy "at the end of the day might be dampening the recovery of the euro area."
He added that the question should be raised at a summit in Seoul November 11-12 of the Group of 20 emerging market and industrialised nations.
The fear in Europe is that adding so much liquidity to the US economy will dilute the value of the dollar, which would tend as a consequence to weaken the US unit against the euro.
A stronger euro is often seen as putting upward pressure on eurozone exports, making them more expensive and less competitive.
Chinese officials meanwhile said they wanted an explanation of why the Fed had chosen to go ahead with a new round of quantitative easing.
Such action, they said, might make sense for the United States but for other countries there was a price to be paid as the dollar slumped, hitting their exports, and developing countries were flooded with capital seeking a safer home.
The Fed hope its action will boost demand and so get the US economy back on track, reducing the worst unemployment in years which has remained stubbornly high despite earlier QE of some 1.5 trillion dollars.
If the US economy, the world's biggest, can get out of the doldrums, it argues, then that will be good for everyone by helping power global growth.
For China, that seems to be no longer good enough.
"If there is no restraint in issuing major global currencies such as the US dollar, the occurrence of another crisis is inevitable," said Xia Bin, an adviser to the Poeple's Bank of China, according to the Beijing News.
Dubbing the US action abusive, Xia called on developing countries to take measures to "prevent hot money inflows from impacting their economy."
PBoC governor Zhou Xiaochuan told a forum in Beijing that US move was "not necessarily optimal for the world ... It may cause a lot of negative impacts for the world economy."
The issue is specially sensitive for China given tensions over the yuan with Washington, which says the Chinese currency is kept undervalued to gain an export advantage at its expense.
For China, and other Asian countries such as Japan and South Korea running massive trade surpluses with the United States, the Fed action appears designed expressly to make their exports more expensive.
Pointedly, Vice Foreign Minister Cui Tiankai, China's top negotiator on Group of 20 issues, called for an explanation of US policy.
"It would be appropriate for someone to step forward and give us an explanation. Otherwise, international confidence in the recovery and growth of the global economy might be hurt," Cui said, only days ahead of the G20 summit in South Korea where currency issues will likely top a heavy agenda.
Brazil, which has already warned of the dangers posed by a "currency war" was equally blunt.
"Everyone wants the US economy to recover but it does no good to inject massive amounts of money into the economy because that will not get growth moving again," Brazilian Finance Minister Guido Mantega said.
"The only result is a devaluation of the dollar so that the United States becomes more competitive in international trade," he added.
German Finance Minister Wolfgang Schaeuble warned that the Fed measures would not work and only create more problems.
"They have already pumped endless amounts of money into the economy with extremely high budget deficits (but) ... The results have been hopeless," he said on television channel ZDF.
"I don't think that the Americans are going to solve their problems with this and I believe that it is going to create extra problems for the world," Schaeuble said on ARD public television late on Thursday.
For France, Economy Minister Christine Lagarde expressed disappointment that it was the euro that would "bear the brunt" of the US action, with the single European currency rising steadily against the dollar in recent weeks.
http://news.yahoo.com/s/afp/20101105/bs_afp/financeeconomybanktradeforexchinaus
MY COMMENTS
This confirms part of my BRIC news and playlists by at least showing the alliance from China and Brazil that make up part of BRIC. BRIC is Brazil, Russia, India, China and now many more Asian countries that are moving to stabilize the global economy for the people it seems and against the Fed and the US CORP. BRIC along with the G20 seemed to start about mid to late last year with the alliance against the Carbon Tax I reported on in November/December 2009. I reported on this stand about 2 wks with this youtube
2009-12-1 Copenhagen derailed China, India, South Africa & Brazil promising to walk out
and 2 months before (in other of my youtube uploads comments that came out around the same time) the COP15 Copenhagen meeting mid-December 2009 in which even more stands were made against the Fedsters by the former named Black Dragon Society, now the White Dragon Society (WDS).
Ben Fulford is a member of the WDS and reporter whom I report on. Ben reported 10-25 here this next G20 meeting could be the big one with currency changes. I have been reporting on many things that points to this in the works. More of the same ie printing more money will never help as this creates inflation which is a hidden taxation on everyone but only benefits those who get the money 1st. The banksters give it to their own companies (or industries that go along with there agenda 21) via there administrators in government. The interest free green loans to green power was only allowed to happen as a result of the wishful banksters wanting the carbon tax to come in to allow them to profit more from a fake money while taxing energy and hence genocide (agenda 21) against the developing countries like those in Africa.
Countries in Africa would have been told "NO you cant develop coal power plants but only green power", which costs alot more to setup at the moment. As soon as the global currency is changed and the new govts recognized along with announcements of debt forgiveness for all, the sooner the better, almost free energy systems known as Zero Point Energy systems will be released, then ET disclosure and more wonderful technology that will allow us to make food, clothes, furniture, houses from a single device know as a replicator that Sheldan Nidle talks about. I have been reporting him aswell in my youtube channels playlists (see key info at top), my talkshoes etc etc.
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