 |
China calls for global currency
03-24-2009, 08:02 PM
|
#1
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
|
China calls for global currency
There are a lot of insightful folks here. Im not sure what I make of this. Any concerns about this message. My opinion is some grandstanding by the Chinese. However, Id love to hear a different viewpoint.
China calls for new global currency
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
03-24-2009, 08:06 PM
|
#2
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
Fine.
The US would not mind, as long as all the printing presses are on our soil. 
|
|
|
|
|
03-24-2009, 08:21 PM
|
#3
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
|
 Quote:
Originally Posted by NW-Bound
Fine.
The US would not mind, as long as all the printing presses are on our soil. |
Yeah. I dont know what to make of it. Im not sure what they gain by this kind of statement. Wondering if something obvious or not so obvious I might be missing.
|
|
|
|
|
03-24-2009, 08:29 PM
|
#4
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
They (the Chinese) probably think they will get the printing presses. However, we have more experience in that work than any other nations on earth. Trillions? No problem. 
|
|
|
|
|
03-24-2009, 08:32 PM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
|
That is a great idea! So very easy to administer. The perfect time to do it will be once there is a world standard wage schedule and world wide health care not dependant on charity and adequate food and water and shelter for all people.
Oh yeah, throw in a little free speech too!
|
|
|
|
|
03-24-2009, 08:32 PM
|
#6
|
|
Administrator
Join Date: Apr 2006
Posts: 23,038
|
..
__________________
Living an analog life in the Digital Age.
|
|
|
|
|
03-24-2009, 09:31 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,186
|
The Chinese are just looking for a way to store value that is not as subject to political winds as the dollar. As net savers, they have this problem. As net borrowers, we don't.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
|
|
|
|
03-24-2009, 10:42 PM
|
#8
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
|
As holders of gobs of US debt (especially when expressed in "portion of GDP per capita"), the Chinese have a lot to lose if/when US inflation hits. They probably know that this universal reserve currency they've proposed has no realistic chance of gaining traction now, but they want to put the idea out there as a threat-in-being to help keep the US printing presses in check. And, once the US currency does begin to lose value, the other creditor nations might just think this isn't such a bad idea. It would hurt the US a lot.
|
|
|
|
|
03-25-2009, 03:44 AM
|
#9
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
|
They have a global currency... It is call the U$D! 
|
|
|
|
|
03-25-2009, 07:56 AM
|
#10
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
|
China needs to keep posturing, but in reality I think they know that if they bail out on Treasuries and the dollar, our economy is screwed -- and we'd take theirs down with them given their dependency on exports. So in reality they'd also be going down with the ship.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
|
|
|
|
The Chinese are Hypocrits
|
03-25-2009, 09:50 AM
|
#11
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
|
The Chinese are Hypocrits
From the country that took currency manipulation to new levels we are criticized for (possible) inflationary actions that might decrease the value of our currency.
Just maybe that's exactly what we need for long term viability, a lower value US dollar. Sure it makes buying foreign stuff more pricey but it will keep the job steamroller going here at home. That's the Chinese playbook.
Too bad that their $trillion isn't going to be worth as much.
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
