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According to a leaked cable the increase in China’s gold reserves is intended to “kill two birds with one stone.” Firstly, it serves as a model for other countries to encourage reserving more gold, and therefore less USD. Second, it strengthens the Chinese currency, the Renminbi, so that it can begin to replace the declining USD as the world reserve currency. All of this spells bad news for the American economy.

The Peoples Bank of China has announced that it will no longer fix its currency in terms of the dollar. Instead it will manage the yuan against a basket of currencies.

Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.

China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade,

Say goodbye to China's "export economy" paradigm. Perhaps this finally explains where all the excess liquidity has gone: with China now not exporting to the US consumer, it has instead refocused on its own "middle" class.

China has been recasting their gold reserves, currently in 12.4 kg bars into smaller 1 kg bars, allegedly to lay the foundation a gold backed currency, and new banking reserve system.

Does China Have a Superior Economic Model?

In a recent piece for the Wall Street Journal, Andy Stern, an Obama insider and one of organized labor's more aggressive personalities, praised what he called "China's superior economic model."

Does China have a superior economic model? That depends: Superior to what?

Google is reconsidering its involvement in China after suspicions hacker attacks from Chinese authorities: