Economy

Is This The Jubilee? China Vows Debt Forgiveness for 3rd World Nations

Blood Moon Events Turn Out to be Vatican and Rothschild Theatrics

Excerpt from: Benjamin Fulford

fulford_b&wAlthough the big Vatican/Rothschild love-fest at the United Nations is continuing even as this weekly goes out, it is already clear that the hopes for massive changes in how we run this planet have not been realized. What we saw instead was theatrics, the reopening of old wounds and vague promises to do good things by 2030.

The biggest insult to the intelligence of people around the world was Chinese President Xi Jinping’s promise to spend $1 billion a year until then on fighting poverty. On a global scale this is less than chickenfeed and amounts to about 0.0003 cents per day for the world’s poorest people.

Then there was the agreement announced by so many countries, including China, the United States and Russia, to take action against “global warming.” This made it clear the “global warming” Rothschild faction was on the ascendant and the perpetual “war on terror” Bush/Netanyahu/Neocon faction was losing the cabal power struggle.

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China Vows Billions of Development Dollars, Debt Forgiveness

From: SFGate | by Cara Anna, Associated Press

yen_goldenUNITED NATIONS (AP) — China’s president on Saturday pledged billions in aid and said Beijing will forgive debts due this year in an effort to help the world’s poorest nations, as world leaders begin to seek the trillions of dollars needed to help achieve sweeping new development goals.

President Xi Jinping spoke at a global summit that on Friday launched the non-binding goals for the next 15 years.

Xi and others spoke as the U.N. gathering began to shift focus from development to the high-powered General Assembly meeting that begins Monday with speeches by Xi, President Barack Obama, Russian President Vladimir Putin and Iranian President Hassan Rouhani on the first morning alone.

Obama and Putin will meet Monday. The prospects for any meeting between Obama and Rouhani, even a handshake, remained unclear.

Rouhani arrived Saturday and immediately was encouraged by U.N. Secretary-General Ban Ki-moon to have Iran step up to help achieve political settlements to the grinding conflicts in Syria and Yemen, where Iran has influence. The Islamic republic is a top ally of the Syrian government of President Bashar Assad and supports Shiite Houthi rebels who have held parts of Yemen for months.

Iran’s President Hassan Rouhani, left, walks with United Nations Secretary-General Ban Ki-moon, right, Saturday, Sept. 26, 2015 at United Nations headquarters.

Cuba’s President Raul Castro addresses the Sustainable Development Summit 2015, Saturday, Sept. 26, 2015 at United Nations headquarters.

UNITED NATIONS (AP) — China’s president on Saturday pledged billions in aid and said Beijing will forgive debts due this year in an effort to help the world’s poorest nations, as world leaders begin to seek the trillions of dollars needed to help achieve sweeping new development goals.

President Xi Jinping spoke at a global summit that on Friday launched the non-binding goals for the next 15 years.

Xi and others spoke as the U.N. gathering began to shift focus from development to the high-powered General Assembly meeting that begins Monday with speeches by Xi, President Barack Obama, Russian President Vladimir Putin and Iranian President Hassan Rouhani on the first morning alone.

Obama and Putin will meet Monday. The prospects for any meeting between Obama and Rouhani, even a handshake, remained unclear.

Rouhani arrived Saturday and immediately was encouraged by U.N. Secretary-General Ban Ki-moon to have Iran step up to help achieve political settlements to the grinding conflicts in Syria and Yemen, where Iran has influence. The Islamic republic is a top ally of the Syrian government of President Bashar Assad and supports Shiite Houthi rebels who have held parts of Yemen for months.

Iran’s president said in his address that the recent deal with world powers on its nuclear program “has created suitable conditions for regional and international cooperation,” including on protecting the environment.

As world leaders met quietly behind the scenes, others lined up to express support for the new development push that aimed to eliminate both poverty and hunger over the next 15 years. They replace a soon-to-expire set of development goals whose limited success was largely due to China’s surge out of poverty over the past decade and a half.

China’s president vowed to help other countries make the same transformation. Xi said China will commit an initial $2 billion to establish an assistance fund to meet the post-2015 goals in areas such as education, health care and economic development. He said China would seek to increase the fund to $12 billion by 2030.

And Xi said China would write off intergovernmental interest-free loans owed to China by the least-developed, small island nations and most heavily debt-burdened countries due this year.

He said China “will continue to increase investment in the least developed countries,” and support global institutions, including the Beijing-backed Asian Infrastructure Investment Bank that is due to launch by the end of the year and is seen as a Chinese alternative to the more Western-oriented financial institutions of the World Bank.

Ban made a major pitch to the private sector Saturday for its help in financing the development goals. “In a sense, September 26th is even more important than September 25th,” he told dozens of global business leaders from companies including Google, Unilever, Siemens and Sinopec. “Today, we begin the hard work of turning plans into reality.”

As world leaders made promises about the future, a key Jordanian leader said they needed to pay attention to the refugee crisis now spiraling out of control in the Mideast.

Jordan Minister Imad Najib Fakhoury made an impassioned plea at the U.N. summit for the world’s countries to take in more Syrian refugees to help his country which has been overwhelmed by those fleeing the conflict there.

In his address, Fakhoury said Jordan’s efforts are akin to the United States having to absorb 64 million more people, or the European Union 100 million, or Japan 25 million, or China 280 million.

Lebanon Prime Minister Tammam Salam made a similar plea, telling the United Nations the Syrian refugee crisis was costing his tiny country one-third of its gross domestic product and strangling development.

Salam said the Syrian civil war and fleeing refugees “is one of the greatest development challenges” facing Lebanon. The Mediterranean country has become home to more than 1.2 million Syrian refugees — about a third of Lebanon’s native population.

Associated Press writer Christopher Bodeen contributed to this report.

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S3A: “Global Debt Forgiveness Activated”

 From: inteldinarchronicles.blogspot.com | posted by 

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GLOBAL DEBT FORGIVENESS ACTIVATED LINK 

EXOGEN –

This will pave the way for the exclusion of the fiat dollar from the global financial system in the coming days.

EXOGEN –

US Approves Yuan SDR Inclusion after China Orders 300 Boeing Planes

September 27, 2015

After reassuring the United States that its economy will be propped up by China, Obama has given his thumbs up to the inclusion of Renminbi into the IMF’s SDR basket of currencies.

Renminbi is the official “people’s currency” of China; Yuan is the primary unit of that currency.This will pave the way for the exclusion of the fiat dollar from the global financial system in the coming days.

Of course, there are other covert arrangements which led us to conclude that the East is only really aiming for a peaceful “win-win” resolution of all conflicts with the West, and that the best they, i.e. the Reformists, could do for the time being is to initiate an “all-inclusive economic system”, and it is up to us to exploit and maximize that scenario where “no one is left behind.”

Earlier, the White House was also trying to raise the stakes using the cybersecurity and hacking issue which both countries are guilty of doing, and to which China has effectively downplayed by talking to the tech companies first before with anybody else.

After extended bargaining, both parties have reached an understanding on cybertheft issue, among others.U.S. Takes Step Toward Support for China’s Reserve-Currency Bid

Andrew Mayeda
The Obama administration took a step toward backing China’s bid to have the yuan recognized as a global reserve currency, as the U.S. softened its insistence that the Chinese implement financial reforms to win support.

The International Monetary Fund is reviewing whether the yuan should be included in its Special Drawing Rights, a basket of reserve currencies used by the lender as a unit of account. After U.S. President Barack Obama and Chinese President Xi Jinping met Friday in Washington, the two sides issued a statement saying the U.S. supports the inclusion of the yuan “provided the currency meets the IMF’s existing criteria in its SDR review,” a point Xi highlighted in his press conference with Obama.

The shift in the U.S. position follows the administration’s failed attempt to prevent allies from joining the China-led Asian Infrastructure Investment Bank earlier this year, a strategy that was faulted by former policy makers including ex-Treasury Secretary Henry Paulson.

In June, a joint statement by the two countries said the U.S. “supports China making the reforms that would lead to the inclusion” of the yuan in the basket. Friday’s statement mentions U.S. support for “China’s commitment to implement further financial and capital market reforms.”

The new language clarified to the Chinese that the IMF’s assessment of whether the yuan meets the fund’s SDR criteria will be the determining factor for American support, said an administration official who asked not to be identified.

Winning the IMF’s endorsement would validate efforts by Xi to push through policies aimed at making the world’s second-biggest economy more market-oriented, boosting China’s prestige as it prepares to host Group of 20 gatherings next year. At least $1 trillion of global reserves will convert to Chinese assets if the yuan joins the IMF’s reserve basket, according to Standard Chartered Plc and AXA Investment Managers.

“The train delivering the SDR to President Xi in time for the November 2016 G-20 Summit in Hangzhou remains on schedule,” said David Loevinger, managing director of emerging-markets sovereign research at asset manager TCW Group Inc. in Los Angeles. There’s “plenty of wiggle room” within the IMF criteria to allow China to meet the fund’s requirements, said Loevinger, a former senior coordinator of China affairs at the U.S. Treasury.

The IMF’s executive board will make a decision on the yuan reserve-currency issue as soon as November. Approval requires 70 percent of the fund’s voting shares, and even if the U.S. opposed the move, the nation would need several allies because the U.S. has about 17 percent of votes. Many analysts have been predicting approval.

The U.S. and China also look forward to continuing to discuss methods to facilitate yuan trading and clearing in the U.S., according to the joint statement.

U.S. Treasury Secretary Jacob J. Lew in previous comments this year has put the onus on China to prove the yuan belongs, saying the country needs to further liberalize its currency policy and complete financial reforms before it can get the IMF’s nod.

Friday’s shift brings the U.S. closer to the positions of the U.K. and France. In a speech Tuesday in Shanghai, U.K. Chancellor of the Exchequer George Osborne said he’d like to see the yuan added to the IMF basket as the currency becomes increasingly important in global markets and “meets existing IMF criteria.”

French Finance Minister Michel Sapin said last week in Beijing that France favors including the yuan in the SDR basket, though China still needs to meet the IMF’s technical requirements first, according to Francois Coen, Sapin’s spokesman.

http://www.bloomberg.com/news/articles/2015-09-25/u-s-takes-step-toward-support-for-china-s-reserve-currency-bid

2 thoughts on “Is This The Jubilee? China Vows Debt Forgiveness for 3rd World Nations

  1. Pingback: Is This The Jubilee? China Vows Debt Forgiveness for 3rd World Nations | Złoty Wiek Gai - Golden Age of Gaia

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