The China Deception



Jeff Orr
August 29, 201
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The current trend in the world of finance and politics is toward consolidation of power into the hands of a few large financial intuitions like Goldman Sachs. Over 40 US states have turned over control of unemployment payments to the largest private banks such as Bank of America, JP Morgan Chase, and Citibank. Recipients of benefits are often forced to have a bank account and a debit card at these banks in order to receive their benefits.

The state of Kentucky handed over control of all their revenues and financial transactions to these same banks which caused the global financial crisis. Handing over large accounts of public money are among the many gifts and support measures provided by US government entities to prop up and rescue too big to fail banks.

So how do these mega bank show their gratitude to the American People for throwing them a lifeline during the financial crises that began in 2008? A little known fact is that last year Citigroup, JP Morgan, and many other large international banks were engaged in promoting China’s renminbi currency to be accepted in place of the dollar in world commerce. The financial times of London ran an article on August 26, 2010 entitled “Banks back switch to renminbi for tradeâ€