|August 4th, 2012||#1|
Join Date: Nov 2003
Blog Entries: 25
Currency Wars, by Song Hongbing
[filing papers, came across this, probably worth a little more attention. recall this vaguely from a couple years ago. didn't realize there are sequels to the original, which is a jew-naming book by a chinese that is very widely read in that land]
Currency Wars by Song Hongbing, also known as The Currency War, is a bestselling book in China, reportedly selling over 200,000 copies in addition to an estimated 400,000 pirated copies in circulation and is reportedly being read by many senior level government and business leaders in China. Originally published in 2007 the book gained a resurgence in 2009 and is seen as a prominent exponent of a recently emerged genre labeled "economic nationalist" literature. Another bestselling book within this genre is Unhappy China, however, unlike this and other books within this genre, Currency Wars has been received more positively by the Chinese leadership as its recommendations are seen as less aggressive towards the US. The premise of this book is that Western countries are ultimately controlled by a group of private banks, which, according to the book, runs their central banks. This book uses the claim that the Federal Reserve is a private body to support its role. The book's author correctly predicted a banking crisis in the US in 2008. More than one million copies of this book have been sold.
In July 2009, the book was followed by a sequel, Currency Wars 2: World of Gold Privilege, published by China Industry and Commerce Publishing House (ISBN 978-9573265214), which The Financial Times reported as being one of the most popular books in China by late 2009.. More than two million copies have been sold. In this book, Song predicted that by 2024, the world's single currency system will mature. He believes that if China can not be dominant in this system, it should not participate, but should be self-hill, have their own sphere of financial influence. This last topic is much more developed in the second sequel.
In May 2011, Currency Wars 3: Financial High Frontier, a second sequel was published by Yuan-Liou Publishing (ISBN 978-9573267843). It discuss more specifically the modern Chinese History (from Chiang Kai-shek to the depreciation in the long term trend of U.S. dollar) seen from a Currency War perspective. It pushes towards an isolationist financial policy.
According to the book, the western countries in general and the US in particular are controlled by a clique of international bankers, which use currency manipulation (hence the title) to gain wealth by first loaning money in USD to developing nations and then shorting their currency. The Japanese Lost decade, the 1997 Asian Financial Crisis, the Latin American financial crisis and others are attributed to this cause. It also claims that the Rothschild Family has the wealth of 5 trillion dollars whereas Bill Gates only has 40 billion dollars.
Song also is of the opinion that the famous U.S. central bank, the Federal Reserve, is not a department of state functions, but several private banks operated by the private sector, and that these private banks are loyal to the ubiquitous Rothschild family.
On June 4, 1963, President Kennedy signed an executive order, which, as an amendment to Executive Order 10289, delegated the authority to issue silver certificates (notes convertible to silver on demand) to the Secretary of the Treasury. Song says the direct consequence was that the Federal Reserve lost its monopoly to control money.
The book looks back at history and argues that fiat currency itself is a conspiracy; it sees in the abolition of representative currency and the installment of fiat currency a struggle between the "banking clique" and the governments of the western nations, ending in the victory of the former. It advises the Chinese government to keep a vigilant eye on China's currency and instate a representative currency. The book, published in 2007, also correctly described and warned of the various forms of derivative speculation used by Wall Street which eventually became the causes of massive margin call sell offs and stock market crash in late 2008..
The book has achieved bestseller status in China. Although acknowledging the book's huge popularity in China, the Financial Times described it as only passably entertaining and its thesis as far-fetched. Fred Hu, managing director of Goldman Sachs Group, said the currency wars were "non-existent".. He uses in his review words as "a simple out of line, outrageous distortion", "many errors, out of context, far-fetched, exaggerated, or simply speculate, uncertain", and the conclusion to this book as a "melted mixed the ultra-left trend of thought, far-right tendencies, populism, isolationism, anarchism".
According to Zhang Jiayi, we could think that the "currency wars" series of books' goal in promoting the conspiracy theory is precisely to meet the angry psychology of youth.
The book has been criticized for promoting antisemitic conspiracy theories. The book says that Jews have been conspiring to covertly influence historical events ranging from the Battle of Waterloo to the assassination of John F. Kennedy, with the intention of increasing their wealth and influence.. In this respect, the material echoes traditional antisemitic conspiracy theories such as The Protocols of the Learned Elders of Zion, The International Jew, and Nazi propaganda like Der Stürmer. This is seen as rather unusual as China is not generally known for antisemitism.
Several Chinese American scholars also gave the first book negative reviews. Chen Zhiwu (Yale University) first affirmed the reference values of the details the book provided, such as how "what the Rothschild family did, how impacts the financial sector has on a country's development, etc" but he finds the lack of financial expertise makes the author unqualified to prescribe China with future directions. Zhang Xin (University of Toledo/Ohio) finds the book as rich in historical knowledge, of which many he would not be able to analyse, but as a currency and financial system researcher he says, he believes the framework of the book is completely wrong and criticizes the book as lacking in "common sense"
The author responded to these comment by saying "While many scholars have voiced their objections to this book, they are aimed at the details of the book, not it's logic or structure." 
|August 4th, 2012||#2|
Join Date: Nov 2003
Blog Entries: 25
Currency Wars 2 - those international banking families in full
April 30th, 2010
Following on from my earlier post on Currency Wars 2, this is my translation of the next few pages of the introduction, where Song Hongbing introduces the 18 international banking families he believes are pulling the strings of global finance, and directing the course of world history:
‘The Rothschilds - the ‘godfathers’ of international finance, whose influence spans 200 years
The trusted advisor of Germany’s Iron Chancellor Bismark - Bleichroder
From Cologne in Germany the Oppenheim family
From Hamburg in Germany the Warburg family
Originally from Bavaria in Germany but finding success on Wall Street, the Selingman family
Originally from Frankfurt, but making it big in the USA, the Schiff family
The Schroder family, originally from Hamburg but finding success in London and New York
The Speyer family, originally from Frankfurt
The Mendelsohns from Berlin
The Baring family from England, who were associated with the Rothschilds in the 19th Century
The Hope family from Amsterdam
Advisors to the French royal family, the Fould family
The Mallet and Pereire families, also from France
From Switzerland, the Mirabauds
Finally, the Rockefeller and Morgan families from the USA.
The international banking families are the most powerful group on the international scene. Their thinking, to a great extent, determines the fate of mankind. Wherever they go, that place prospers, wherever they leave, that place declines and falls.
With a motion of their hand, they can instigate a period of great creativity and productivity. With another motion they can seize the resulting riches for themselves.
For the last 200 years, these families have strutted on the world stage, their position unassailable, their influence on the course of Western history impossible to underestimate. As times change, the star of some families has plummeted from the sky, but the majority retain their power and influence today.
The world is always changing, but the essentials of human nature do not change. For thousands of years, the thought of wealth has aroused in man feelings of greed and horror, the thought of power feelings of desire and resentment. Whether it’s the games of political chess that have characterised thousands of years of Chinese history, or the financial machinations of Western history, the same mark of human nature is evident.
China is no stranger to the history of mans grasping after power, but regarding mans grasping after wealth, we still have a lot to learn. Let’s start the learning process by examining the lives of the world’s most powerful banking families.’
You can see why the Currency Wars books are so popular. They combine a romantic insight into an interesting period of Western history, with a plausible explanation of the way the world economy works, and wrap the whole thing up as a lesson for Chinese people on how they can avoid being cheated by the evil global financiers. Song Hongbing satisifies curiosity about Western history and the global financial system, at the same time as playing to the nationalist peanut gallery.