It appears that China is getting scared.
(Reuters) – Quantitative easing by the Federal Reserve and other central banks cannot address fundamental economic problems but may lead to excessive global liquidity and competitive currency depreciation, China’s central bank said on Sunday.
In its monetary policy report for the final quarter of 2010, the People’s Bank of China (PBOC) also confirmed that it would target 16 percent growth of the broad M2 measure of money supply this year, down from the 19.9 pct growth recorded at the end of 2010.
The central bank said the Fed’s monetary easing was pushing up international commodity prices and asset prices in emerging markets, including China.
I think it is pretty clear by now what the Federal Reserve’s Quantitative Easing (QE) policy is doing to the rest of the world. We now have 9 countries in outright rebellion against their governments, with rioting in the streets. People can only tolerate so much of tyrannical governments. People can only stand so much of inflation causing all of their necessities to be unaffordable and unobtainable. People are starving, Mr. Bernanke. Do you care? Even worse, do any of the governments of these countries care that they have been complicit in this giant fraud — even accomodating?
It is no wonder that CNN is reporting that China has blocked any twitter searches that include “Egypt” per Jeff Jarvis, founder Buzzmachine.com. Certainly don’t want the Chinese people getting any ideas, now do we?