Got my copy of the Debt Generation today, am looking forward to reading it.

No it isn't. I'm sorry I wasn't very clear, rather cryptic in fact.

What I am refering to is that while China has been printing up new cash this has been accompanied by releasing land that has previously been state owned land, into the market.

This state land is, as far as the market is concerned, a newly 'discovered' asset. The land was previously not something available to buy – it was outside the market. The state has released it into the market.

I realize the land was there all the time. but it was not available to the 'free market'. Think of the oil under Saudi. It was there all the time. But only when it has been discovered, pumped and released into the market does it become available for money to buy. Only then does it become an 'asset'.

I am arguing that the release of previously 'state held' and is 'like' newly disocvered and exploited oil reserves. As such it off-sets, a little, the printing China has been doing.

I hope this is clearer.

Could you clarify this comment please Golem? Perhaps sleep deprivation is making me dim, but am not sure I understand. Is this a reference to China's asset buying in Africa and elsewhere?

Thanks for your commentary, excellent as always. I look forward to the delivery of my copy of your book.

Let us not forget the increased US military aid and the stationing of U.S. troops in Columbia [2].

With Venezuela’s oil reserves and one attempted coup already paranoia is the least Chavez’s problems.

[1] http://www.therealnews.com/t2/index.php?option=com_content&task=view&id=33&Itemid=74&jumival=408
[2] http://www.therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=4058

There is real anger in the U.S. And talking to someone this morning I am hearing a growing, not discontent, but indifference to AMerica growing in S.America. It is getting easier to deal in Euros in Peru than in dollars. That is amazing. Only a few years ago it was dollars or nothing. And Lima is money laundering central.

At what point will the U.S. realize that they are losing or have lost S. America and try to take it back?

One author assesses the Fed's intervention (since July 1st) as having already destroyed $4.6 trillion in household wealth, whilst only benefiting the portfolios of the top 10%. See here.

I think his figures are exaggerated, but the gist of the article is clear: QE2 is a desperate defence of a broken system with no regard for the American hoi polloi.
It conjures up images of the big white colonists enjoying a wonderful banquet, sheltered from the abject poverty, sights and smells of the downtrodden natives.