Connect with us

Economy

America’s biggest weapon against North Korea isn’t nuclear, and isn’t directed at the Norks

Published

on

Treasury Secretary Steve Mnuchin unveiled the biggest weapon the U.S. has in its arsenal against North Korea, and it’s not a bomb.

No bank in any country should be used to facilitate Kim Jong-un’s destructive behavior. This new executive order will authorize Treasury to impose a range of sanctions such as suspending U.S. correspondent account access to any foreign bank that knowingly conducts or facilitates significant transactions tied to trade with North Korea. These sanctions will be forward-looking and applied to behavior that occurs following today when President Trump signed the executive order. Foreign financial institutions are now on notice that going forward they can choose to do business with the United States or with North Korea, but not both. This new executive order enables Treasury to freeze assets of anyone conducting significant trade in goods, services or technology with North Korea. It also allows us to freeze assets of actors supporting North Korea’s textile, fishing, IT and manufacturing industries.

The target of this executive order, which is wholly legal and proper for the president to sign, is certainly China. China is North Korea’s biggest trading partner by far. It will hurt China far worse than anything we could do to North Korea. And China can force North Korea into starvation or negotiation.

Perspectives

Why Sanctions Against North Korea Are Causing Pain in China – Bloomberg

https://www.bloomberg.com/news/articles/2017-09-20/north-korea-sanctions-claim-another-victim-china-s-rust-beltWhile Beijing has joined the international community in condemning North Korea’s missile launches and nuclear tests, it doesn’t want a war on the Korean peninsula or Kim’s regime to collapse. Either event may trigger a rush of refugees and the potential for U.S. troops on its border, risking social unrest and a heightened security presence that could further hinder trade.

China advises against unilateral sanctions against North Korea | South China Morning Post

http://www.scmp.com/news/china/diplomacy-defence/article/2112446/china-advises-against-unilateral-sanctions-against“The situation facing the Korean peninsula is complicated,” Foreign Ministry spokesman Lu Kang told a press conference in Beijing.

Lu said at the press conference that “China opposes the imposition of sanctions outside the framework of the United Nations Security Council”.

In his address at the assembly, China’s Foreign Minister Wang Yi said negotiation remained the only solution to the North Korea problem, while warning its neighbour not to pursue the development of nuclear weapons.

Final Thoughts

As long as goods can flow into and out of North Korea, all the military threats we make are simply saber-rattling. Kim Jong-un will continue to provoke until we back down from a potential holocaust for South Korea. This is what he’s done for decades. But if the U.S. truly punishes China with banking sanctions and assets freezes, just like we did to Iran, soon they will push North Korea to the table, or make it clear that the Hermit Kingdom is on its own taking on the U.S. in a military battle.

The money bomb is a much bigger weapon than anything our military possesses. History shows that it always has been (read your World War II history of Japan).

NOQ Report has new contributors being vetted, interns, and long-time contributors who want to remain anonymous. Their stories are posted on this author's account which is operated by Sal.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Will GOP stop Trump’s trade war as the Constitution requires?

Published

on

When Donald Trump announced YUGE tariffs on imported solar panels and residential washing machines back in January, he launched a trade war reminiscent of 1800’s protectionism and laid the foundation for higher prices for American consumers, along with the loss of thousands upon thousands of jobs.

Unfazed by historic evidence that such trade wars inevitably lead to economic disaster, Trump proceeded with a second round of attacks on the free market in March by imposing across-the-board tariffs on steel and aluminum, complete with his personal assurance that “trade wars are good, and easy to win.”

While Trump initially suspended steel and aluminum tariffs against the EU, Mexico, and Canada–providers of roughly fifty percent of steel imports to the US–he announced this past Friday that the tariffs are back on. And for good measure, he issued an additional threat to Germany that he would completely ban the import of luxury cars if they chose to retaliate with tariffs of their own against US goods.

As was the case in March, members of the GOP are threatening to prove they actually have a spine, and there are indications that they might do something this time around to stop Trump before it’s too late.

Sen. Pat Toomey (PA)–for the record, that’s a steel state–will be co-sponsoring Sen. Mike Lee’s bill S.177 to end Trump’s abusive practice of using “national security” to impose tariffs and to return tariff authority back to Congress where it Constitutionally belongs.

Other Republicans joining with Toomey and Lee are Sens. Jeff Flake (AZ), Corey Gardner (CO), and Ben Sasse (NE).

Besides the fact that tariffs are simply terrible economic and foreign policy, Trump has used the threat of tariffs against China as leverage for his personal financial gain; essentially extorting money from the Chinese government to finance Trump golf courses and hotels in Indonesia and securing a boatload of trademarks for his and Ivanka’s business interests in China.

If passed, S.177 will give the power to approve or disapprove Trump’s tariffs back to Congress, not to mention that it would save the American people from an economic catastrophe.

The only question is, will Republicans do what required to fulfill their Constitutional duty or will they cave to Trumpism in hopes that it will help them in November? The clock is ticking . . .

Originally posted on The Strident Conservative.

 


David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

Follow the Strident Conservative on Twitter and FacebookSubscribe to receive podcasts of radio commentaries: iTunes | Stitcher | Tune In | RSS

Continue Reading

Economy

Obamanomics damaged the economy, and Trumponomics isn’t fixing it

Published

on

While Trump and the GOP want you and me to believe that Trumponomics has singlehandedly saved the US economy by reducing taxes and creating jobs, the reality for those of us living in the real world is quite different.

It was Mark Twain who once said, “There are three kinds of lies: lies, damned lies, and statistics.” When it comes to politicians in an election year, Mr. Twain could have been describing the Washington establishment owned and operated by the Republicans and Democrats.

No doubt you’ve heard the much-ballyhooed news that unemployment has dropped to its lowest level since 2000, coming in at 3.9%. But just as it was when Obama manipulated unemployment numbers to cover his pathetic economic policies, this recent jobs report has been manipulated to hide the truth about our very unhealthy economy.

Unemployment numbers can change for any number of reasons:

  1. People move from the unemployed category into the employed category
  2. The number of employed grows faster than the number of unemployed
  3. You simply add people to the employed category without changing anyone’s status
  4. You simply stop counting people in the unemployed category, making them magically disappear

When we consider that the number of jobs added in April was 164,000 while the number of unemployed dropped by 239,000, we can conclude that reason #4 is how the latest unemployment rate was manipulated to make things look better than they really are. Unemployment went down because the labor-participation rate fell to 62.8 percent after being 63 percent in February and 62.9 percent in March. Three consecutive months of declines.

Quite simply, when you are no longer working or looking for work, the government no longer includes you as a part of the equation to calculate the unemployment report.

Meanwhile, Trumponomics is also creating a slower growth rate than Trump is claiming while his tax cuts and record government spendingdespite the recent rescission cuts—is creating another threat to the US economy, an apocalyptic debt spiral adding trillions to the already unsustainable national debt.

Obamanomics caused a great deal of damage to the US economy, but Trumponomics isn’t doing anything to repair it; in fact, Trump’s plan will likely destroy what’s left of it.


Originally posted on The Strident Conservative.

 

David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

Follow the Strident Conservative on Twitter and Facebook. Subscribe to receive podcasts of radio commentaries: iTunes | Stitcher | Tune In | RSS

Continue Reading

Democrats

Forget lowering unemployment, Bernie Sanders will eliminate it!

Published

on

During his 2016 Democrat primary campaign, Bernie Sanders was “absolutely sympathetic” to the idea of a universal basic income; however, he felt that his plans for a $15/hr. minimum wage, expanding Social Security to pay for guaranteed healthcare, and providing free college would do more than creating just another government handout.

But now Bernie has apparently found a way to accomplish his goals as well as the goals of the universal basic income crowd.
Yesterday, we learned that the self-proclaimed Democratic-Socialist is ready to announce a plan that will guarantee every American “who wants or needs one” a lifetime government job paying at least $15/hr. and proving paid family and medical leave plus retirement, health, and vacation benefits.

While the details are still being worked on, Bernie has admitted that he currently has no idea exactly how much his plan will cost or where the money to pay for it will come from. However, if his 2016 campaign is any indication, the cost will be irrelevant, and the money to pay for it will come from “the billionaires and oligarchs” he refers to as the “top one percent of income earners.”

While it would be tempting to shrug off Bernie’s plan as the rantings of a socialist loon living to the left of the left-wing, we should remember how his Marxist beliefs concerning income inequality caught fire with a generation of Constitutionally ignorant voters raised on the socialist ideology taught in today’s public schools indoctrination centers.

And a poll conducted during the 2016 primary season showed that a majority of millennials rejected capitalism.

Democrats would see a huge voter advantage by creating a new state-run workforce dependent upon them for their jobs. And politicians from both parties would have a new voter-bloc to advance their ideological and political agendas.

Bernie’s plan is being called a guaranteed-jobs program, but the only guarantee it gives us is the destruction of capitalism and Constitutional America.


Originally posted on The Strident Conservative.

 

David Leach is the owner of The Strident Conservative. His daily radio commentary is distributed by the Salem Radio Network and is heard on stations across America.

Follow the Strident Conservative on Twitter and Facebook. Subscribe to receive podcasts of radio commentaries: iTunes | Stitcher | Tune In | RSS

Continue Reading

NOQ Report Daily

Advertisement

Facebook

Twitter

Advertisement

Trending

Copyright © 2017 NOQ Report.