China complains printing dollars ‘is out of control’

October 27, 2010 13:41

‘Rampant issuance of dollars by the United States is saddling China with “imported inflation”, Chinese commerce minister Chen Deming was quoted as saying by state media on Wednesday.’ – AFP

Its not doing the US any favors either Mr. Chen Deming.

From IBD Editorials:

“Last year’s $1.7 trillion in quantitative easing is already being felt in prices. Now investors are betting that another round of quantitative easing, perhaps another $1 trillion worth, is on the way. And like the Fed, they think it’ll push up prices.”

From The Guardian:

“Mounting anger has greeted food price inflation of 21% in Egypt in the last year, along with 17% rises in India and similar amounts in many other countries. Prices in the UK have risen 22% in three years.

World wheat and maize prices have risen 57%, rice 45% and sugar 55% over the last six months and soybeans are at their highest price for 16 months.”

From American Thinker:

“We are on the precipice of a currency crisis, a completely man-made catastrophe. The men who orchestrated it first created a central bank in 1913 that eventually took us off the gold standard and devalued the purchasing power of our currency by 90%. Later, others in the 1930s and 1960s erected a viral, insatiable welfare state and attempted to feed it and keep it at bay with high taxes and waves of financial, stock, and real estate bubbles. Then we elected Obama, who decided to go down in history as the great destroyer by unleashing several trillion-dollar bubbles at once. We know the names of all of his co-conspirators and hope to punish them severely in a few weeks.”

From Monty Pelerin’s World:

The Fed is lying about inflation –

“For those who think we are at risk for deflation, you might want to examine the table of year-to-date price increases in a variety of items:

Cattle (lb)………………..+12.0%
Coffee (lb)……………….+36.9%
Corn (bu)…………………+37.3%
Cotton (lb)……………….+46.7%
Lumber(1000 bd.ft.)….+32.9%
Orange Juice (lb)……….+19.7%
Soy beans (bu)…………..+13.2%
Wheat (bu)………………..+29.8%

Just imagine what these numbers would be if we were not in a “deflationary environment!”

The real inflation figures, according to, drastically understate the real inflation figures. ”


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