The Billionaires for Wealthcare thanked Senator Mitch McConnell for his outstanding obstructionism by showering him with real cash. Anticipating his ‘no’ vote on health care reform, the Billionaires offered him an advance on contributions from Big Insurance.

Insurance industry executives at the Billionaires wanted to make sure Senator McConnell was given a very public show of support from his financial supporters.

It may sound like a character from StarWars, but starting in Q2 of 2010, the WOCU or World Currency Unit will become the medium of exchange among trading nations. This is welcome news to a world weary of Dollar hegemony and the violent and bloody US imperialism that comes along with it.

Cross-posted at River Twice Research.

For years, Americans have been fulminating about China and its policy toward currency. While many of the debates are technical and laden with econo-speak, they boil down to the simple conviction that China is unfairly manipulating its currency to keep it undervalued against the dollar. The result is to give China unfair advantages in trade – flooding the US with cheap goods, hurting labor wages world-wide, and accumulating massive surpluses in the process. That view is again articulated by Paul Krugman in today’s New York Times (http://www.nytimes.com/2009/10/23/opinion/23krugman.html?ref=opinion) which ends with the firm statement: “Something must be done about China’s currency.”

Cross-posted at River Twice Research.

The economic relationship between China and the United States is the defining issue of our day. While debates over health care are vital to American society, and while challenges ranging from Iran to Afghanistan to North Korea are real, nothing will determine the arc of the coming decades – or will shape domestic life and prosperity in the United States – more than the emergence of China as a global economic superpower unrivalled except by America.

Chicken Little did not live in vain…

All of the signs are pointing to the imminent collapse of the US dollar. The FED’s willingness to print unlimited quantities of them to create the appearance of stability will lead to hyperinflation.

This past week the Fed and the Treasury via the “Working Group on Financial Markets,” struggled to hold the stock market up, along with the bond market and to continue to suppress gold and silver. The group was created in August 1988, under Executive Order 12631. It was later nicknamed the “Plunge Protection Team” by the Washington Post.

The one day (attempted) auction of a mansion in Vero Beach reveals a failure to admit stupid real estate “investment” mistakes, accept losses, and move forward.

China has called for the U.S. Dollar to be replaced will a basket of global currencies.

talk of replacing the dollar has the world reserve currency