dollar tanks
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More telling, I think, is that China is seeking to promote the yuan as an international currency after signing 650 billion yuan ($95 billion) in swap agreements with Argentina, Indonesia, South Korea, Hong Kong, Malaysia and Belarus since December. All of those countries will no longer use the dollar as the invoicing currency while trading. Brazil and China discussed doing the same thing this past weekend. Remember this is our banker who is saying that our currency is no longer good.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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More telling, I think, is that China is seeking to promote the yuan as an international currency after signing 650 billion yuan ($95 billion) in swap agreements with Argentina, Indonesia, South Korea, Hong Kong, Malaysia and Belarus since December. All of those countries will no longer use the dollar as the invoicing currency while trading. Brazil and China discussed doing the same thing this past weekend. Remember this is our banker who is saying that our currency is no longer good.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Is Chinese currency subject to valuation swings like the dollar, euro, yen, pound, etc... or is it still tightly controlled by the government?
Mike Mullikin wrote:
Is Chinese currency subject to valuation swings like the dollar, euro, yen, pound, etc... or is it still tightly controlled by the government?
Very tightly controlled. That was how they very cleverly cornered the matrket on our worthless paper.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Mike Mullikin wrote:
Is Chinese currency subject to valuation swings like the dollar, euro, yen, pound, etc... or is it still tightly controlled by the government?
Very tightly controlled. That was how they very cleverly cornered the matrket on our worthless paper.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
That was how they very cleverly cornered the matrket on our worthless paper.
How sad for the Chinese that they got to the game so late that the only market left to corner was our worthless paper.
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
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Oakman wrote:
That was how they very cleverly cornered the matrket on our worthless paper.
How sad for the Chinese that they got to the game so late that the only market left to corner was our worthless paper.
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
With the real estate market gone to crap, and the dollar in the toilet, US real estate may look good to someone in China with some money. One wonders if the Chinese government would trade treasury notes for real estate.... maybe barter New York, Massachusetts and California away.
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Is Chinese currency subject to valuation swings like the dollar, euro, yen, pound, etc... or is it still tightly controlled by the government?
The yuan is tied to the dollar, which has caused it to be the source of much wailing and gnashing of teeth by Republicans the past two years.
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Oakman wrote:
That was how they very cleverly cornered the matrket on our worthless paper.
How sad for the Chinese that they got to the game so late that the only market left to corner was our worthless paper.
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
Stan Shannon wrote:
How sad for the Chinese that they got to the game so late that the only market left to corner was our worthless paper
I was hoping that maybe the social security trust fund would get a chance to sell their t-bills for Yuan. That would take care of many of the problems it could face by 2040.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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With the real estate market gone to crap, and the dollar in the toilet, US real estate may look good to someone in China with some money. One wonders if the Chinese government would trade treasury notes for real estate.... maybe barter New York, Massachusetts and California away.
kmg365 wrote:
maybe barter New York, Massachusetts and California away.
At the moment, I'm not sure we could give California away. I understand the next terminator movie will once again star Schwarzenegger - it'll be called Terminator 5: Indigence
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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The yuan is tied to the dollar, which has caused it to be the source of much wailing and gnashing of teeth by Republicans the past two years.
Why republicans?
_____________________________ Those who study history are doomed to watch others repeat it. -Scott M.
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I dunno. You look at the Monthly Averages and it looks pretty stable. 2009 - Euros to 1 USD (invert) Average Rates January 0.755724 EUR (21 days average) February 0.782243 EUR (20 days average) March 0.766963 EUR (22 days average) April 0.757793 EUR (21 days average) May 0.739174 EUR (16 days average) Kind of hard to get excited. If the Chinese want to buy US Real Estate it would be like when the Japanese bought Rockefeller plaza. What are they going to do, ship Trump Tower to China? Put a colony inside the penthouse? They've collected US and other currency for a very long time. They keep in case they want access to international financial markets in an emergency. Ever since the Weimar republic inflated their WWI debt away the ability to get money has been very dependent on whose currency you happen to have. At the same time, every dollar they hold is a dollar they don't spend in the US, which is both good and bad. Like some kind of weird old millionaire just hanging on to all of his money in a mattress.
_____________________________ Those who study history are doomed to watch others repeat it. -Scott M.