Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not going to take very much to push us into a full-blown worldwide financial crisis. The following are 12 signs that indicate that a global financial crash has become even more likely after the events of the past few days… Continue reading
One has to wonder how the intelligence community can continue “missing” key developments in China when past actions such as the Clintons selling over 600 super-computers during the 90’s tenure through the commerce department is open source information.
New Chinese military developments that caught the United States off guard included new attack submarines, an anti-satellite missile system, aircraft carrier-killing missiles, and a new stealth jet.
“A decade on, it is now clear that much of the conventional wisdom about China dating from the turn of the century has proven to be dramatically wrong,” says the staff report by the U.S. China Economic and Security Review Commission, a congressional group.
“These predictive errors carry with them serious geopolitical consequences,” said the report, made public April 5. “To avoid being similarly caught off-guard in 2022, U.S. analysts should carefully reexamine many of their widely-held assumptions about the Chinese government and its policy goals.”
The report examined what it termed the “surprise” military developments and whether they showed “a pattern of underestimating the speed and depth of Chinese military development.”
Full article: Blinded by Beijing — Congressional report highlights U.S. intelligence failures regarding China military buildup (Washington Free Beacon)