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What if China release all their Dollars too though?
What if China release all their Dollars too though?
According to some reports china are going to off load 500 billion $ into hard assets around the world.
A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.
WEAVER, HENRY GRADY,
Yes, and not just them either, the advantages of being the global trade currency.
The US will be only delighted, I'd imagine, since it makes their QE easing efforts more effective. The asian economies have just lost all purchase on the USD, in one fell swoop. Can't imagine they'll be happy about that, so perhaps we can look forward to more south China sea incidents in the near future.
I wouldn't worry about shooting wars being started between the two (although wars have been started over much less, that was pre-nuclear deterrent), except maybe by proxy. Look for Southeast Asia to be the strategic hotspot of the 21st century, I reckon, especially if Indonesia and Malaysia continue meddling with their neighbours. Muslim, Chinese, and western powers are going to come to a head to head conflict in the region before too long. Rampant ultra nationalism, poverty, extremism, the area is a tinderbox.
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The just want whatever currency they have to be the most valuable, hence why they can see the impending devaluation with the "stimulus package" (ie.., trillion dollar overdraft), where the US prints loads more magic dollars, and China's stash becomes much less valuable.
Don't all get so excited.
SDR's are a bit like the old ECU.Mr. Zhou's idea is to expand the use of "special drawing rights," or SDRs -- a kind of synthetic currency created by the IMF in the 1960s. Its value is determined by a basket of major currencies. Originally, the SDR was intended to serve as a shared currency for international reserves, though that aspect never really got off the ground.
They already exist.
But you won't be using them to pay the bill the next time you decide to dine at the restaurant at the end of the universe.
There are times when you are simply required to be impolite. There are times when condescension is called for!
- Aaron Sorkin writing as President Bartlet to Obama, NYT 21/09/2008
You can't build a smart economy based on dumb decisions.
- Richard Bruton 18/12/2008
we cant agree on a single european currency (unfortunatley)
What are the chances of a worldwide currency
"We know what to do, we just dont know how to get elected afterwards" Jean-Claude Juncker on how to fix the European economy
I am sorry when they world currency
do they mean eleconic money or foregin reserves or do they mean notes and coind so when I go on holiday to N.Korea I wont have to change my money
"We know what to do, we just dont know how to get elected afterwards" Jean-Claude Juncker on how to fix the European economy
Unless you're one of our lizard overlord's, it'll be the former. Secret coins will initially be reserved for transactions between forked tongued Bilderbergers. Buying gourmet rats, huge cruchy insects and so on...
Anyone knows who that woman is in the video? She was asking some very intelligent questions and was clearly standing out from that bunch of politicans who mostly spent 3 out of their 5 minutes doing self-promotion and then asked something that was, at best, only partially relevant to the issues at hand.
"A good liar must have a good memory. Kissinger is a stupendous liar with a remarkable memory." - Chris Hitchens
Bachman is a smart cookie. She has a great future ahead of her methinks. Pushes all the right buttons.
"The Egyptians could run to Egypt, the Syrians into Syria. The only place we could run was into the sea, and before we did that we might as well fight.” -Golda Meir
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