China drops the dollar

[sntaylor]

Interesting article....or not?

http://www.activistpost.com/2013/11/china-announces-that-it-is-going-to.html

 

[SiempreTuna]

Very interesting .. and maybe a bit of a worry: with the dollar worth a lot less, US ability to use spending for international influence is going to be severely hampered.

On the upside, it should help western countries' balance of payments issues, given that so much international trade is done in $ so the affect of a lower $ goes way beyond the US.

I did read somewhere that China has been gradually reducing its exposure to US debt over the last few years - apparently, Japan holds more. That might also be a worry, given the Chinese debt holding was seen as a sort of fiscal MAD (Mutually Assured Destruction) preventing the Chinese from messing too much with the US economically as they'd lose so much money. Kinda like when you owe the bank $100 it's your problem, when you owe them $1 million, it's their problem.

 

[dibblebill]

Heh... I've been saying for a year or more that they'd dump the dollar in the next 5 yeras... Time to see the consequences, and if I was right about those, too.

 

[Gmash]

Take a look at the authors website, the book he's pushing, and the type of ads he has running down the side of his page and it should tell you all you need to know about this guy.

The Economic Collapse

 

[Gmash]

I randomly clicked on one of those ads and this is what I got LOL

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back with that extra weight).

Wow! Those damn kids and their piggyback rides will be the end of us. (literally)

 

[dibblebill]

Further research for a few days has lead to as little evidence as there was of tbe claim that Zimbabwe was using Bitcoins as a national currency

 

[copestag]

Take a look at the authors website, the book he's pushing, and the type of ads he has running down the side of his page and it should tell you all you need to know about this guy.

The Economic Collapse

I randomly clicked on one of those ads and this is what I got LOL

Wow! Those damn kids and their piggyback rides will be the end of us. (literally)

what do we need to know about this guy? is there anything in this article that you disagree with? counting you that would be 1

Im sure any sound person, especially anyone with the slightest economic intelligence, agrees with every word in the article

Im not sure what your ad hominem attack has to do with this thread at all

China has been talking about this for a while...and as stated they have no specific timeframe... but its going to happen

when it happens the only question will be if we have made enough concessions to Iran in time to start borrowing money from terrorists..... we sure arent going to decrease spending and the money has to come from somewhere

maybe we can borrow it from drug lords in Mexico now that we are opening up a free market for them

 

[dibblebill]

copestag, use some reason here- NOBODY else has reported this at all. Normally, Huffington Post would be all over this. They'd have full breakdowns of the ramifications of China dropping the US dollar. I'm actually in agreement with Gmash here- I think the author's out to sell more of his book.

 

[copestag]

copestag, use some reason here- NOBODY else has reported this at all. Normally, Huffington Post would be all over this. They'd have full breakdowns of the ramifications of China dropping the US dollar. I'm actually in agreement with Gmash here- I think the author's out to sell more of his book.

I agree........ nobody has reported this at all...... UNLESS YOU CONSIDER CNBC OR BLOOMBERG TO BE SOMEBODY...... kindly check the links before rambling on

next

 

[dibblebill]

I did read the link. Did YOU?

CNBC never said "China is dropping the dollar". A speech was given that China is less likely to hold on to its US Debt ownership. However, that's not a "We are dumping our US Dollars". That's a "We are considering getting rid of them over time".

Again, I say, I'd like more sources. I bought into the "ECONOMY IS COLLAPSING" line a couple years back. Needless to say, I'm a bit more skeptical now. Still convinced it will happen, but I check sources closely. And with no major outlets reporting anything beyond "China may sell its US debt", I'm skeptical of this article's claim.