China WARNS Fed about new money-printing 2 Years, 4 Months ago
China was again lecturing the crime syndicate known as "the United States" yesterday. They note with alarm that B.S. Bernanke is AGAIN hinting at more "quantitative easing", despite still having interest rates frozen at 0%, and DESPITE his claim that the U.S. economy is experiencing a robust "recovery".
China warned these criminals that developing economies are STILL trying to cope with the damage caused to their markets from PREVIOUS money-printing - and suggests the global economy could NOT stand the strain of more reckless currency-creation.
On the other hand, since I am adamant that the U.S. will simply COUNTERFEIT its paper if its not able to print it openly, arguably the world is slightly better off with all this new paper at least being officially ACKNOWLEDGED.
The problem with the current counterfeiting is that it allows the U.S. to MAINTAIN the value of the U.S. dollar DESPITE flooding the global economy with much, much more ILLEGAL U.S. currency.
Thus FORCING Bernanke to openly declare his money-printing is the best way to keep it to a MINIMUM.
"PBOC’s Zhou Urges Fed to Consider Global Effect of Policy Easing"
China’s central bank Governor Zhou Xiaochuan said the U.S. Federal Reserve has a responsibility to consider the global effects of its actions after emerging-market economies suffered from capital inflows.
Because the U.S. dollar is the world’s main reserve currency, the Fed “may have more responsibility not only to consider the U.S. economy but also the global economy,” Zhou said today during a panel discussion at the Boao Forum for Asia on the southern Chinese island of Hainan.
Zhou’s comments reprise criticism of the U.S. from emerging nations who complained that so-called quantitative easing was sending unwanted cash into their economies, adding to inflation risks. Fed Chairman Ben S. Bernanke said last week the central bank will consider further stimulus, even after upgrading its economic outlook March 13.
For China and some other emerging economies, the policy goal is to “gradually bring inflation down” to help achieve a so-called soft landing, and China is using interest rates combined with additional tools to achieve that, Zhou said. He declined to comment when asked if the central bank is planning any adjustments to monetary policy.
Expanding domestic demand and reducing the trade surplus have also been part of China’s strategic plan since the global financial crisis, Zhou said today.
Premier Wen Jiabao has pledged to “fine-tune” economic policies as needed as weakness in export demand and a cooling housing market restrain an economy that probably grew at the slowest pace in almost three years in the first quarter. Analysts in a Bloomberg News survey last week unanimously said that banks’ reserve requirements will fall this year, while nine of 20 predicted lower benchmark borrowing costs.
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