LOOK OUT BRICS: “CURRENCY WAR heats up”

This can be solved easily with manufacturing returning in abundance to our shores. It may result in higher prices for goods, however, quality is the benchmark we got rid of for quantity. i.e. China, India, etc.

South Africa this week will take some initial steps to unseat the US dollar as the preferred worldwide currency for trade and investment in emerging economies.

Thus the nation is expected to become party to endorsing the Chinese currency, the renminbi, as the currency of trade in emerging markets.

This means getting a renminbi-denominated bank account, in addition to a dollar account, could be an advantage for African businesses that seek to do business in the emerging markets.

The move is set to challenge the supremacy of the US dollar. This, experts say, is the latest salvo in the greatest worldwide currency war since the 1930s.

In the ’30s, several nations competitively devalued their currencies to give their domestic economies an advantage over others.

And this led to a worldwide decline in overall trade volumes at the time.

The north will be pitted against the entire south in a historic competitive currency battle — whose terrain has moved to the Indian capital, New Dehli — where the Brics (Brazil, Russia, India, China, and South Africa) nations will assemble next week.

China seeks to find new markets for its currency and to lobby to internationalise it throughout the Brics states.

For China this is not a new game. In 2009 senior Chinese banking officials issued a statement that the international monetary system was flawed owing to an unhealthy dependence on the US dollar, and they called for a “super-sovereign” international reserve currency.

Experts say Beijing’s first step is to internationalise its currency (by expanding its reach beyond China), liberalise it (to allow its value to be determined by the market instead of actively managing it as they currently do), and then make it a reserve currency for many nations in the developing world.

Africa’s largest bank, Standard Bank, says in a research document: “We expect at least $100 billion (about 768 billion rand) in Sino-African trade — more than the total bilateral trade between China and Africa in 2010 — to be settled in the renminbi by 2015.”

The bank anticipates that the use of the renminbi will lower transaction costs in Africa, thus lowering the barriers to doing business.

It also says that the Chinese will be more successful in transacting in renminbi in Africa than anywhere else because most currencies are weak and somewhat localised.

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Nike Lebron 9 – “Fire Lion” China Exclusive Edition


LeBron James (Left) & Nike Basketball Footwear Designer Jason Petrie (Right)

In part as a “thank you” to the unwavering support from its Chinese fans, Nike and Nike Basketball will launch a China Exclusive Edition of its Nike Zoom Air LeBron 9 . Also known as the “Fire Lion” Edition, this newest LeBron James signature includes the best of what Nike Basketball has to offer. The first to incorporate Flywire and Hyperfuse, the lightweight basketball sneaker is yet responsive enough for any player, let along James’ 6-foot 8 frame. Support comes in the form, or forms, of both Max Air 180 encapsulated air cushion and the none obstructive Nike Zoom Air, the perfect combo for James’ 80-plus games schedule each season. Finally, the color blue and the ice-like outsole. Though counter intuitive at first, think back to your chemistry classes during secondary school and you will recall the hottest flame burns not with a reddish-orange hue but a steady blue glow. Hence, the bright colorway on the “Fire Lion” Edition, in reference to James’ explosive nature on the court and his team, the Miami Heat. As a reinforcement of that notion, a Chinese character for “fire” is embroidered on the heel tab, along with a fearsome motif of the Chinese Stone Lion embedded on the shoe’s tongue. Available only through Nike retailers in China starting on Saturday, October 1st, for ¥1599 RMB or $250 US.

Release Date: October 1st, 2011 (Saturday)



Posted: Elvi$ V.

Kamikaze Satellite Could Be Earth’s Last Defense Against Asteroid

Chinese researchers from Beijing’s Tsinghua University have revealed plans to divert the asteroid Apophis — which may well collide with Earth in a couple decades — by smashing a kamikaze solar sail into it.

The asteroid, 99942 Apophis to give it its full title, is a 46 million tonne, 1,600-foot-wide chunk of space rock that’s currently hurtling its way towards our planet. In 2029 it will soar safely past Earth, but we won’t be out of the woods just yet.

There’s a possibility that it will pass through a slim gravitational keyhole — a tiny, 600 mile area of space — that would cause the asteroid to turn back on itself and strike Earth some seven years later in 2036.

In 2009, US space agency NASA said that there’s a 1 in 250,000 chance that the asteroid will strike Earth. For a little perspective, you have a 1 in 14 million chance of hitting the jackpot on the UK’s National Lottery.

Instead of moving the asteroid on its potential resonant return to Earth, Shengping Gong and his team reckon the secret is shifting the asteroid away from entering that gravitational keyhole in the first place.

By analysing the trajectory, speed and impact of a spacecraft, Gong says, “The results show that a 10 kg solar sail with a lead-time of one year can move Apophis out of a 600-m keyhole area in 2029.”

The craft would also be sent into a retrograde orbit of the Earth to build up speed, so it will be moving at a super fast 90km/s by the time it collides with the asteroid.

Gong isn’t the only one to be thinking about Apophis. The European Space Agency wants to send two spacecraft to the rock — one to smash into it, and another to observe the impact. This would give researchers the know how in case another asteroid has our name on it.

 

:: JR§

US DOLLAR x USA = ‘WE GONNA MAKE IT’ :: Respectfully Disagree with “NWO” Myth

I guess having different views and opinions is what makes our world so great.  Even here on synamatiq.com we do not agree on everything, and we all have the freedom to post and share stories as we choose, which is what makes our site so great and unlike any other.

This might be a first for synamatiq.com as I would like to take this moment and disagree with the previous post by my colleague Deano.

I for one do not believe in any “New World Order” or “New World Currency” taking over the world as we know it. Is it possible? Maybe. Is it likely? No, highly doubt it.

This “Myth” has been spread among our human population for centuries. In my opinion it’s a fairy-tale and a fear tactic used by some who in reality would like to profit and gain power from such an event. The same people who keep reporting this “Myth” are those who would like to capitalize from it.

Last night on Fox News I watched the GOP Presidential Debate and it became very clear by the Fox News moderator, that the biggest goal for the Tea Party is to go back to the gold standard and demolish the US Dollar. Isn’t it ironic that this is their biggest goal? These so-called loving American purists would like to see the US Dollar fall?!?

Who’s been leading the charge with this fear tactic:

Alex Jones (infowars.com,prisonplanet.com, ‘Deception of Obama’ Film maker)

Glenn Beck (nutbag formerly of Fox News and Tea Party hero)

Fox News + Fox Business (Rubert Murdoch, Roger Ailes)

Alex Jones, Glenn Beck, and Fox News Corp. are all affiliated and use their power to spread the Tea Party agenda. These same people would profit and gain unbelievable power if the US Dollar was to fail.

I don’t expect any Fox News watcher or Tea Party believer to understand the facts clearly, because they’ve been brainwashed and used as a shield for what these people would like to do. Which is ultimately stay in power and keep the rich, richer.

Now is our US country in too much debt? Yes. I agree with Deano on why we are in debt. Starting wars without paying for them. Cutting taxes for the rich without paying for them.  However, this debt can easily be paid for if their was some cooperation with President Obama in congress.  The US is paying almost zero interest on our debt and if US Citizens get involved with the political process this abuse of power wouldn’t be taking place.

This is why voting is so important. The same folks who voted for President Obama in 2008 didn’t show up in 2010 and now all we have is gridlock and fighting. Nothing is getting done. Obama always said he couldn’t get things done alone, despite the fact that he has accomplished a lot, just not enough.

The US economy was recently downgraded by one of the three credit rating agencies for the first time in history, not because of our debt, but because the Republican party refused to work with President Obama on a balanced approach to reduce the deficit.  Cutting spending alone will never balance our budget or lower our debt. It is important to raise revenue by raising taxes on the rich in order to actually see progress. I think this downgrade in the long-term will be a positive awakening for our country.

Has the stock market been volatile? Yes! Is it the first time? No! Our stock market has always dealt with ups and downs, and we will always in the future, that’s how capitalism works.

Will it continue to be volatile? Yes. I’m sure we’ll see lots of selling off and lots of buying.  Swings up and down. Still no need for panic. During the 2007 crash under President Bush my 401k made me 100k in profit.  Just because the market is down one day or up another doesn’t mean everyone should panic. Bulls make money when the stock market is up, Bears make money when the stock market is down. Just make sure you have the right folks handling your stocks and keep a balanced portfolio.

Will Gold reach $2500 an ounce by 2012? Maybe, but Gold’s been down the last 2 days and Gold has always been where investors go when the economy is weak. Just because Gold goes up doesn’t mean the US Dollar or our world will collapse. As the economy corrects itself so will Gold and the Dollar.

Is the dollar down? Yes, but not in a terrible state like most would like you to believe. The value of the dollar just like the stock market goes through ups and downs.  Despite all we’ve been through, and how much debt we’re in, our dollar is actually still pretty strong. Other nations have always called for a new world currency, this is nothing new. There will always be a news story of a country like China, Russia or Germany asking for a new currency.  Will it happen, No, I very much doubt it. The consequences of a new currency is too risky for the entire world. Trust me these leaders do not want more unrest and an unruly population.

These new money coins have always been around, it’s always been an idea that will never be allowed to happen.

Prior Dollar Declines Have Not Led to Collapse:

The dollar declined during the 1970’s, the early 80’s and in 1991-1993. During these declines, there were also forecasts of a dollar collapse. Many countries discussed removing their currencies’ pegs to the dollar. However, there was no real substitute as a global currency, so a dollar collapse did not happen.

The Media and Internet is the Problem:

Our news media loves drama, loves fear. You turn on to any news network and all they talk about is negative stories.  Why? because fear brings in huge ratings!!! Conflict brings in huge ratings!!! You turn on to CNN or MSNBC and I bet you’ll see 2 people going at it who have different views on a particular subject but instead of the media clarifying the facts, they leave the viewer with even more doubt and questions so they keep watching.

News and Journalism has completely changed and become partisan. It’s hard to distinguish who’s being honest and who has an ulterior motive.  FOX NEWS IS NOT AND HASN’T BEEN A CREDIBLE NEWS ORGANIZATION SINCE AT LEAST 2001. THE MAJORITY OF THE STORIES AIRED ON FOX NEWS, FOX BUSINESS, OR PRINTED IN THE WALL STREET JOURNAL, THE NY POST AND THE FINANCIAL TIMES AREN’T ALL TRUE. They are written with their point of view and to benefit their interests.

Same goes with the internet.  You can google any website with a point of view to back up what you would like to believe, but at the end of the day all they care about is the traffic and the money they’ll receive from all the hits.

So while I understand and respect your concerns and views it is important to not believe everything you read. Keep an open mind, and research who or what is behind the story.

Will our US economy continue to be weak? Yes, but we’ll get out of this and be fine.

Will jobs continue to be hard to come by? Yes, unemployment will be high for a while, but we’ll be fine and figure it out.

Will our US Dollar continue to be weak? Yes, but the dollar will be fine and make a comeback eventually and continue to be the worlds currency.  So much so, I plan on investing in it.  It might take 2 or 3 years to see the dollar begin to recover, but I fully expect it to.

Will Gold and other metals continue to do well? Yes, for the short-term metals are a safe haven, just like US bonds seem to be, but eventually folks will cash in on Gold and go back into the dollar.

Will our country deal with more problems? Of course! Our country has always faced difficulties. We’ve been through much worst and the world never ended. Civil Wars, Revolutionary Wars, World Wars, Depressions, Slavery, Diseases, Terrorism, Natural Disasters, etc… and we’ve got through it all and will always get through it all.

My personal concern isn’t the fall of the dollar but making sure people who need jobs get them. People who need food, eat. People who need shelter have a place to sleep and making sure our Planet can handle the fast pace our human race is growing.

Life is a beautiful gift but can be extremely scary.  Humans are the smartest race on the planet for a reason, and despite what comes our way we’ll find a way to keep the Human race alive.

Good will always win versus evil.  It might not happen over night but eventually life corrects itself.

Last, the US economy is the largest and strongest economy in the world despite our problems. China is #2 and will continue to be behind the US no matter what a small population believe or report. The facts are the facts.

China doesn’t own all of the US debt, many other countries own our debt along with China. If the US falls the world falls. This is why it won’t happen.

I’m sure this is something we probably wont agree on, so time will determine it all. All I know for definite is after the roller coaster ride my life has been through these last few years, I plan on getting off the ride and enjoying life.

Peace!

:: JR§

“The NEW WORLD CURRENCY is here already, HOLY ISh-ski”

I’m sure you have heard news of the UN, China and Russia calling for a new currency to replace the sinking US dollar. Why you ask? The US dollar is the reserve currency for trading worldwide, being the most stable nation (at least it once was). Not so my friends, the US debt and all its wars are making the US dollar unstable. The US dollar is being devalued by the powers that be and JP Morgan said this week, gold will be $2500 an ounce by the end of the year. JP Morgan is not lying. The usual process was, countries bought a lot of US dollars for trading globally. Now they buy gold and other precious metals with the exception of the Swiss franc. So in layman’s term, we are in store for some deep ish-ski.

Another reason the dollar is on a trip to the bottom, the Federal Reserve claims they will print money to pay off the US debt and China came out against such actions. Also think about it, if the Federal Reserve can print money to pay off the debt, why didn’t they do it already before it got to a $14 trillion nightmare?

It’s all a show folks, the New World Currency is already here and made from precious metals. In addition the Amero, introduced back in 2007. This currency would be the North American version of the euro with America, Canada and Mexico using one currency. So get ready after the 2012 election, we’ll see NWO agenda in full effect. It really doesn’t matter who you vote for, the agenda must continue. Take a look at this article by Curtis Roosevelt and decide for yourselves.

Anyways I digress, the stock market is all over the place these days but one thing stands out, gold and other precious metals are here to stay. I advised you to look at gold and other precious metals over the past decade. There will be no boost in the US dollar unless that $14 trillion-dollar debt is fixed, short-term fixes will not work. The famous term these days, ‘kicking the can down the road.’ Are you kidding me? These are the educated bunch we have running the country. On another note Dylan Ratigan went on a half arse rant about the government, congress, senate, extractions and never once mentioned the Federal Reserve, please (he has a multi-million dollar contract with MSNBC, so spare me).

Consequently, this is all Monty Python Flying Circus tricks at its best, the powers that be are positioning for the New World Currency, that was introduced in 2009 at the G20 conference in Italy. They even have a website for the currency, www.futureworldcurrency.com. Take a look at the facts and judge for yourselves.
Deano

The gold version of this prototype coin was presented to all attending G 8 heads of State & Government at the L’aquila, Italy Summit in July 2009. The Cabinet of the Italian Prime Minister hosting the G-8 gave permission to the organisers of the United Future World Currency to present model coins to all the World Leaders attending the summit. Those heads of State  & Government included President Barak Obama of the United Stares, President Dimitri Medvedev of the Russian Federation, Chancellor Angela Merkel of the Federal Republic of Germany, Prime minister Gordon Brown of the United Kingdom, Prime Minister Taro Aso of Japan, Prime Minister Silvio Berlscuoni of Italy, Prime Minister Paul Harper of Canada and Jose Manuel Baroso President of the European Commission. A gold prototype coin was also presented to the Secretary-General of the United Nations Mr. Ban Kee-Moon earlier this year in New York as Dr. Alessandro Sassoli, founder and co-ordinator of the United Future World Currency addressed UN General assembly.

 

 

 

MADE IN AMERICA :: New Balance Struggles as Last Major Athletic Shoe Brand still Manufacturing in U.S.

At the factory owned by New Balance, the last major athletic shoe brand to manufacture footwear in the United States, even workers on the shop floor recognize that in purely economic terms, the operation doesn’t make sense.

The company could make far more money if, like Nike and Adidas, it shifted virtually all of these jobs to low-wage countries.

So employees try working each shift to make it up. Conversations on the shop floor are sparse at best, and the tasks at each work station have been stripped of waste and precisely timed. Workers cut leather for a pair of shoes in 88 seconds, handle precise stitching in 37 seconds and glue soles to uppers even faster.

“The company already could make more money by going overseas, and they know it,” said Scott Boulette, 35, a burly team leader who has his son’s name tattooed in Gothic letters down his left forearm. “So we hustle.”

Now, however, comes what may be an insurmountable challenge. The Obama administration is negotiating a free-trade agreement with Vietnam and seven other countries, and it is unclear whether the plant can stand up to a flood of shoes from that country, already one of the leading exporters of footwear to the United States.

“We are deeply concerned by the inclusion of Vietnam in a potential free-trade agreement,” said Rob DeMartini, president and chief executive of New Balance.

The workers’ predicament highlights the difficulty facing the Obama administration as it seeks free-trade agreements as a potential remedy for U.S. unemployment, now at 9.2 percent.

Backed by many economists, the administration says the agreement with Vietnam and the other countries, the Trans-Pacific Partnership, would create U.S. jobs by opening up Asian countries to U.S. exports such as computers from California and paper products from Maine.

“This agreement will create a potential platform for economic integration across the Asia-Pacific region, a means to advance U.S. economic interests with the fastest-growing economies in the world,” U.S. Trade Representative Ron Kirk told Congress in late 2009 in announcing that negotiations were about to begin.

Moreover, importing shoes from Vietnam at lower costs would benefit some in the United States, either by reducing prices for consumers or raising profits for manufacturers that have their operations overseas.

But the example of New Balance, which has long resisted the exodus of American footwear manufacturers, highlights the fact that despite the benefits of free trade, it can also destroy some U.S. jobs, and those losses are felt more acutely in a time of high unemployment.

“We want to fight really hard to keep this business in Maine,” said Lori Cook, 28, a single mom with two kids. “I’d like to keep my job.”

The company’s primary concern is that any free-trade agreement with Vietnam would probably eliminate the steep tariff on footwear imported from that country, making Vietnamese sneakers even cheaper than they already are.

New Balance officials said removing the tariff would also undermine years of efforts at the company’s five New England factories to compete against cheap foreign labor. The plants employ 1,000 workers.

Those employees earn upward of $10 an hour, plus benefits, while labor costs in China are about $1.50 an hour, and even less in Vietnam.

With the support of some New England legislators, the company is hoping that an unusual exemption can be created in any agreement with Vietnam to maintain the tariff on the shoes New Balance makes in the United State

“Making footwear in the U.S. isn’t as easy or as profitable as making them overseas. If it were, every company would still be doing it,” DeMartini said. “We will continue to ask our negotiators to embrace President Obama’s manufacturing agenda and to save what is left of our nation’s once-vibrant shoemaking economy.”

For decades, shoes coming in from China and Vietnam, the largest sources of imported footwear, have been hit with tariffs of as much as 20 percent or more.

The shoe tariff, by pushing up the cost of importing shoes, means a pair of athletic shoes made in the Norridgewock factory or anywhere else in the United States is more competitive than it otherwise would be, and partially offsets the costs of higher wages paid here. On a pair of shoes that comes into the country valued at $30, for example, a typical 20 percent duty amounts to $6. (In many cases, the markup amounts to 100 percent, meaning those shoes would sell to consumers for $72.)

As workers in New England look around at the shuttered textile and shoe mills that still dot many towns, relics of the industrial era, some see the shoe tariff as the least the United States could do for what’s left of the battered industry. In their view, removing the tariff only rewards those companies such as Nike and Adidas that have shut U.S. factories and concentrated their operations elsewhere.

Adidas’s last plant was in Kutztown, Pa. Joanne Twomey, 65, worked at the Nike factory in Saco, Maine, until it closed in the mid-’80s, the last significant Nike shoe plant in the United States.

“I have not bought one thing from Nike ever since,” says Twomey, now the mayor of nearby Biddeford, Maine. “I tell my children and grandchildren not to buy it either. They owed it to the people who got them to the top — the workers in the U.S. — to stay.”

About 25 percent of the shoes New Balance sells in North America are either manufactured or assembled at one of the five New England factories, despite the likelihood that owner Jim Davis could improve profits by joining other shoemakers overseas.

But while the tariff may be protecting New Balance’s 1, 000 U.S. workers, it appears to have done little to protect the rest of the U.S. shoe industry, which employed as many as 250,000 people in the ’50s but fewer than 15,000 people today.

“The production of footwear is still very much a labor-intensive process,” said Erin Dobson, Nike spokeswoman. “This, combined with the cost of labor in the U.S., makes it cost-prohibitive based on the way product in our industry is manufactured today.”

She noted that while the company has no shoe manufacturing in the United States, it directly employs 22,000 in the country.

Since about 99 percent of shoes sold in the United States are imported, removal of tariffs probably would save consumers money and help improve profits for retailers and companies that do their manufacturing overseas. Those companies have banded together in recent years to lobby against what they call “the shoe tax.”

“If you are buying shoes, you’re paying a shoe tax,” said Nate Herman of the American Apparel and Footwear Association, which has led the fight against the shoe tariff and supports the Trans-Pacific Partnership. “For products that are no longer produced here and haven’t been produced here for decades, there’s no sense for consumers to be paying it.”

The employees at the factory here shrug off the cost to consumers, and question how it is that a move to save jobs could be considered bad economic policy, as economists often say, when jobs are so hard to come by and they have tried so hard to compete.

Since 2004, the 350 workers at the plant have increased daily production by nearly 9 percent while significantly reducing errors, plant manager Raye Wentworth said. The Maine unemployment rate is nearly 8 percent.

Some like Michelle Witham, 40, count three generations involved with footwear manufacturing. She works at the New Balance factory here, as did her parents. Her grandparents worked in the same building, too, years ago, when it was a shoe factory for another company.

“When I started, people would say, ‘Oh, you don’t want to work there. They’re not going to be around for long. They ain’t got a chance,’ ” Witham said. “But I’ve been here 20-something years now.”

“If customers pay a few more dollars for a pair of shoes, then so be it,” said Sheri Fuller, 54, who has worked at the factory for 24 years. “If you take jobs away from people, the hit is going to be a lot bigger.”

 

:: JR§