THE EAST ASIA ECONOMIC COMMUNITY

angel3070 SG

By Dr. Mahathir Mohamad on September 27, 2009

4. They used to hold huge quantities of gold in Fort Knox to support their dollar. Today they have neither gold nor foreign exchange reserve to back their dollar. As a result the dollar value has been fluctuating. The only thing that is holding it up is the demand for it for trade payments. Other than that the dollar is nothing but just printed paper.

5. The US has twin deficits and no savings . Where then did the United States get the three trillion dollars to bail out the banks, industrial corporations and insurance companies? The obvious answer is that it got it from thin air. Just print the money.

6. Why is it that the US can print money to bail out companies while others may not do so? Malaysia did not print money when we bailed out our companies. The money came from revenues collected by the Government and loans raised by it.

7. It is not about hating people. It is about not condoning abuses of the monetary system that the proposal is made not to use the US Dollar.

8. Now the Chinese have come out with the same idea about a special currency to replace the dollar. If we think of the huge sums of dollars held by the Chinese, this suggestion would cause them to lose a lot of money. But they must have realised that the money they are holding is pretty useless.

http://chedet.co.cc/chedetblog/2009/09/the-east-asia-economic-communi.html

4sg SG

Mahathir again.LOL Just his comment on 'the little Chinese emperor' and other racial laced comments first, if he is to be taken seriously about east asia integration.

Stevenson101 SG

He gives pretty good insights, but he seems to get a tat touchy whenever he talks about Singapore.

angel3070 SG

Now that China's power is increasing everyone is rushing to suck up to China:

http://www.telegraph.co.uk/news/worldnews/asia/japan/6258990/China-and-Japan-begin-talks-on-building-alliance.html

http://www.littleabout.com/news/38010,proposed-japan-china-east-asian-community-send-shock-waves-world.html

angel3070 SG

As the 10-member Association of Southeast Asia Nations (ASEAN) pledged last Saturday to build an ASEAN community by 2015 and approved a blueprint for a landmark charter to upgrade the 40-year-old group, there have also been talks about a broader based "East Asia community".

The concept of an East Asia community remains a beautiful ideal. In 1990, the second year after the Asia-Pacific Economic Cooperation (APEC) forum was established, the then Malaysian Prime Minister Mahathir bin Mohamad proposed the "East Asia Essential Caucus". It did not become a reality due to the US' objections and Japan's recoil.

The past 16 years have witnessed great changes and new developments in East Asia.

http://news.xinhuanet.com/english/2007-01/16/content_5612470.htm

Last time USA and Japan opposed the east asian bloc. Now Japan supports the bloc.

That leaves the USA as the main obstacle. I want to see whether USA is bent on sabotaging the East asian bloc and to crush it.

angel3070 SG

USA your days of being the top fucker in the world are numbered.