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Book Currency Wars - 2 (Chinese Edition) by Hongbing Song (2009-09-01)


Currency Wars - 2 (Chinese Edition) by Hongbing Song (2009-09-01)

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  • Yuan Liu/Tsai Fong Books (1722)
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Review Text

  • By BP on September 11, 2015

    The book has a very interesting history of money and also the history of history with the history of the money added in. It is fascinating to learn so much conflict on the law making about money in the United States at the time of all these presidential assassinations. The observation of patterns such as the "lone crazy", "lone crazy" plus the fact of incomplete investigations and conspiracy theory industries surrounding each, suggest a reason to think again about what we were taught. We saw how the "lone crazy" claim worked with Henri IV. That came out in the wash after three hundred years of declassified documents and evidence.I read the book in French by the way, since it hasn't been translated into English yet. It is funny that no English-language publisher has published this book when millions of copies have been read in China, and now Korea, Poland, Japan, and France. It is also interesting that English-language reviews of the book in the Financial Times or New York Times from as far back as 2007 attempt to discredit Song despite the fact that it has never been translated into English. These reviews misrepresent the content of the book, and how did they read it? But. there are serious allegations about Anglo-American finance in this book that clearly need to be kept under wraps by perhaps Pearson and Lazard.But these are not the real questions. Mr. Song shows pretty well how the debt markets and gold markets are controlled by the largest banks and shadow banks on top of the world. He has great citations including quotes by Alan Greenspan and others. He shows pretty well how money and political power is concentrated by control of money creation by these banks and privately-controlled central banks. He makes a strong case that democracies must control the creation of money, as is the case in China today so far.But at the same time that he shows how gold is a substance that can be controlled by the most powerful, he also calls for our money to be backed by gold again. This thinking is schizophrenic.I benefited from his knowledge of trading operations, manufacturing debt crises to steal wealth, and details on derivatives and the subprime crisis, even history. He presented some new facts and sources. His view of he cycles inherent in this privately-controlled money system and the ends they have been used to achieve by the owners of Anglo-American banking licenses is indeed very welcome.But it lacks a deeper understanding of the truth about the economic history of the gold standard. He describes these years as not inflationary, but trending toward deflation, as if that had been a good thing.There may be no memory in his family history of the difficulties in the 19th century of property losses of family and small businesses to the same powers he decries in the book using the same credit crisis methodology over and over and over again.The years between 1870-1900 were the most deflationary period in our history and the greatest concentration of wealth in the Western world, if not China. This was the time when New York banks gained control of land and industries and built their empires. This was the time of Dickens Victorian England and America with homeless street urchins and children begging on the streets and working in sweatshops. Family farms were lost en masse forcing people into slums everywhere, including the American Midwest, as has been happening in China, Africa, and many other places now. These are the very conditions of the deflationary gold standard that allowed all this to happen.I totally agree with him that private control of money creation is a terrible evil. But it was precisely this game, he even cites Article 1 Section 10, that was the coup pulled by the global money power in the constitutional convention 1787. Making the nation dependent on the merchant-bankers' gold was just the first step towards the central bank and that we now have two centuries later. The historian Woody Holton writes about these constitutional details very well. Farley Grubb wrote about it too. Going back to the gold standard only means going back to an earlier step in their game.It is true that we must get rid of bank powers in our lives. The solution, however, will not be going back to the gold they control. The solution will create new forms of social and mutual credit that allow us to interact with each other without the need for approval by any bankers whatsoever for any loans at all. True democratic forms of money are those that are not money at all. Instead, they are credit relationships between people who agree to exchange with each other. Social credit systems powered Egypt and Mesopotamia using clay tablets as a medium. Social credit systems without clay supplied indigenous societies and all of our European societies too long in the Middle Ages until coinage was imposed from above. We have all the technology to do this today bigger and better now. Models of mutual credit systems exist. Perhaps the best example is the WIR in Switzerland, which is probably the closest thing we have to a direct democracy in the world. The Swiss constitution corrected the errors of 1787. We need to cut out third-party powers over our exchange relationships altogether, not make ourselves dependent again on a new substance that Song shows can be controlled. The gold standard and the institutions its owners setup got us to our present unsustainable world.Good book. Good summary. Good investigation. Now we must go further to the new paradigm, not backwards to an old one!

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