I ran across this interesting article from Chinastakes.com – a Shanghai based english website. As an American, it’s not unusual to hear stories about China’s communist government and the alleged manipulation of news, currencies, etc. But it’s even more interesting to consider that the Chinese think the exact same kind of things about our government. Great weekend read here on the American conspiracy theories running rampant in China:
As the US subprime crisis has deepened and, since the beginning of this year, begun to affect China’s economy, the Shanghai stock market has slumped while international markets have seen a loss of $7.5 trillion. Is it any surprise that some people, looking over their shoulders, under their beds and behind their doors, begin to wonder whether this isn’t another American conspiracy. Even the odd senior researcher in one or another of China’s most internationalized banks is beginning to cautiously breathe “Conspiracy Theory” to explain the arcane policies of Wall Street, the Federal Reserve and US Treasury. Is it catching?
Much of this stems from a slight work titled Currency Wars, written by Song Hongbin, a Chinese American scholar, published in China by CITIC Press in May, 2007. According to the press, the book has now gone through 10 printings, reaching a total of 600,000 volumes.
According to Scholar Song in his book, starting in the age of Napoleon, a small group of European bankers began to grow strong, and they gradually gained control of the central banking systems of the UK and the continental countries, later moving across the ocean to America. They played a leading role in setting up a global financial system based on a privately-owned Federal Reserve and international mega-banks. By secretly establishing a wide web of politicians, financiers and media moguls, they grabbed onto huge wealth and are ever working to found a unified global government and currency, which they will, of course, control.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.