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Old 10-18-2013, 09:07 PM
Gulcher Gulcher is offline
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Default 9 Signs That China Is Making A Move Against The US Dollar



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I do think this is a very likely scenario. I am sure they will be impressed with the administration adding 328B in debt today alone bring the national debt above 17T for the first time. http://www.zerohedge.com/news/2013-1...inst-us-dollar
Old 10-18-2013, 09:44 PM
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First sign is, We're all eating General Tso's chicken for Christmas dinner and watching ping pong instead of football.
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Old 10-18-2013, 10:06 PM
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It is hard to see a way out for the US with the money printing and national debt. The problem is just too big.
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Old 10-18-2013, 10:15 PM
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their money is backed up by the same thing ours is....nothing
Old 10-18-2013, 10:45 PM
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They don't need to make a move, we're discrediting and undermining our currency plenty on our own.
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Old 10-18-2013, 11:30 PM
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I'm still trying to picture America if China does manage to make this happen.
The article below states that we would have a massive tsunami of currency coming back to the States.

Does China Plan To Back The Yuan With Gold And Make It The Primary Global Reserve Currency?
http://theeconomiccollapseblog.com/a...serve-currency

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If China does decide to back the yuan with gold and no longer use the U.S. dollar in international trade, it will have devastating effects on the U.S. economy. Demand for the U.S. dollar and U.S. debt would drop like a rock, and prices on the things that we buy every day would soar. At that point you could forget about cheap gasoline or cheap Chinese imports. Our entire way of life depends on the U.S. dollar being the primary reserve currency of the world and being able to import things very inexpensively. If the rest of the world (led by China) starts to reject the U.S. dollar, it would result in a massive tsunami of currency coming back to our shores and a very painful adjustment in our standard of living. Today, most U.S. currency is actually used outside of the United States. If someday that changes and we are no longer able to export our inflation that is going to mean big trouble for us.

So keep an eye on China, and look out for any news about the yuan.

It won't happen next week or next month, but eventually we could see China back the yuan with gold.

When that happens, it is going to be a complete and utter financial disaster for the United States.
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Old 10-19-2013, 07:36 AM
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Long article but scroll down for the stats on the real economy, and how real Americans are being hurt. How many recall the Carter years and high interest rates, I do. By the way the General TSO chicken and ping pong comment was funny. http://theautomaticearth.com/Finance...e-poverty.html
Old 10-19-2013, 08:16 AM
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First, if China got out of the dollar, it would hurt them just as much as us.
Second, all nations deal in their own best interests. China is wrecked with its own debt problems (building empty cities, anyone?), and uses our debt as security at present, but in the long term, like any strong nation, they would like to come out on top.
Third, posting news links to zero hedge is like posting pics of your mother. We've all seen her before, and it wasn't pretty the first time.
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Old 10-19-2013, 09:35 AM
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Really, we don't need to make China the boogey-man here. The US gov is doing just fine all on it's own to spend us into hyperinflation. And if WE don't address that ourselves - well, each country is going to look out for itself, right? Same as we would, if we had sane leadership?

I'd worry more about the solutions proposed by the IMF and World Bank, and take appropriate actions, if you can.
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Old 10-19-2013, 10:03 AM
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Quote:
Originally Posted by KCFirepower View Post
First, if China got out of the dollar, it would hurt them just as much as us.
Second, all nations deal in their own best interests. China is wrecked with its own debt problems (building empty cities, anyone?), and uses our debt as security at present, but in the long term, like any strong nation, they would like to come out on top.
Third, posting news links to zero hedge is like posting pics of your mother. We've all seen her before, and it wasn't pretty the first time.
Truth, China depends on us at least as much as we depend on them...without us their big machine would come to a screeching halt NOW!
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Old 10-19-2013, 10:24 AM
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Quote:
Originally Posted by Baddogg5 View Post
their money is backed up by the same thing ours is....nothing
Not quite as they make vast amounts of tangible goods.

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Originally Posted by howyadoin View Post
Truth, China depends on us at least as much as we depend on them...without us their big machine would come to a screeching halt NOW!
The EU is China's largest trading partner, not the US. They US is definitely more dependent on China as the US living standards would collapse without China. China would lose exports, sure, but it still has tangible goods it can sell internally, at cut price to existing markets, or to new markets.
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Old 10-19-2013, 10:33 AM
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Your Momma's pretty ugly too sunshine
Old 10-19-2013, 10:37 AM
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Quote:
Originally Posted by KCFirepower View Post
First, if China got out of the dollar, it would hurt them just as much as us.
Second, all nations deal in their own best interests. China is wrecked with its own debt problems (building empty cities, anyone?), and uses our debt as security at present, but in the long term, like any strong nation, they would like to come out on top.
Third, posting news links to zero hedge is like posting pics of your mother. We've all seen her before, and it wasn't pretty the first time.
Your Momma wasn't much either KC.
Old 10-19-2013, 10:56 AM
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I know I'll get slammed for this but IMO, this is all a planned move to edge towards a world currency controlled by the UN and the EU. China is buying up gold but I think it's more to shore up their standing of getting in on the world currency, whatever that ends up being. I see Great Brittan holding off the move longer than the US at this point. Their pound is stronger than our dollar right now and they have a great affinity for it. But...I'm afraid it's too little too late and the dominos are already in place for the move.
Old 10-19-2013, 10:58 AM
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Quote:
Originally Posted by FoxOne View Post
The EU is China's largest trading partner, not the US. They US is definitely more dependent on China as the US living standards would collapse without China. China would lose exports, sure, but it still has tangible goods it can sell internally, at cut price to existing markets, or to new markets.
You're probably right, they'd barely notice 30% of their exports stopping immediately, not to mention the trade deficit that we run with them. Bottom line is we are very much dependant on each other, to think anything else is beyond naive.
http://en.wikipedia.org/wiki/List_of...tners_of_China
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Old 10-19-2013, 12:46 PM
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I don't think anyone is suggesting that this is going to happen tomorrow, but this is the end game. The US total debt is anywhere from 70T and upwards depending on who you read. The 70T is including unfunded liabilities. Anyway you slice the deck, a world of hurt is coming. You can hide your head in the sand, you can whistle past the graveyard, but the math is the math. If the US quits printing money and devaluing its dollar the US will collapse now, if they keep printing the US will collapse. They will keep printing until there are no longer any takers for the IOU's. And when the house comes down it will make the 1930's look like a cake walk.
Old 10-19-2013, 01:12 PM
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Quote:
Originally Posted by howyadoin View Post
You're probably right, they'd barely notice 30% of their exports stopping immediately, not to mention the trade deficit that we run with them. Bottom line is we are very much dependant on each other, to think anything else is beyond naive.
http://en.wikipedia.org/wiki/List_of...tners_of_China
You claimed their economy would come to a screeching halt. That is not realistic

I'm not quite sure why you are debating the point that they would "barely notice", since nobody has said anything like that in the thread. Do you have any more strawman arguments for us?

Quote:
Originally Posted by sagewillow View Post
I know I'll get slammed for this but IMO, this is all a planned move to edge towards a world currency controlled by the UN and the EU. China is buying up gold but I think it's more to shore up their standing of getting in on the world currency, whatever that ends up being. I see Great Brittan holding off the move longer than the US at this point. Their pound is stronger than our dollar right now and they have a great affinity for it. But...I'm afraid it's too little too late and the dominos are already in place for the move.
I don't think you will ever see the UK join the Euro. The UK, especially England, is extremely Europsceptic. A better question would be in which year will the UK be leaving the EU? I don't think the EU is currently planning a global currency, though they definitely like to think they are powerful enough to do anything they want.

Old 10-19-2013, 02:28 PM
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china could just quit buying our bonds and dump their remaining bonds. granted they have cut their buying and ownership quite a bit but if they publicly ended our financing it would be a death nail all its own.
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