Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 02-11-2009, 11:13 PM   #21
Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 3,075
IMHO this is a pretty good description of the banking mess / Markets - Insight: How Wall Street scammed the Chinese banks
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
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 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!

Old 02-12-2009, 03:01 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ls99's Avatar
Join Date: May 2008
Posts: 5,725
Originally Posted by yakers View Post
IMHO this is a pretty good description of the banking mess / Markets - Insight: How Wall Street scammed the Chinese banks
Most interesting article. So if wall street really scammed the Chinese banks, without "wink wink" the regulators knowledge, who is the Yakuza going to pay a visit to?
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 02-12-2009, 05:59 PM   #23
Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 4,898
I'd guess that the Chinese are not pleased with us these days. Maybe that's why they have explicitly said they need a guarantee that the dollar will not devalue and ruin their treasury holdings.

“In talks with Clinton, China will ask for a guarantee that the U.S. will support the dollar’s exchange rate and make sure China’s dollar-denominated assets are safe,” said He in Beijing. “That would be one of the prerequisites for more purchases.” Worldwide

“These comments are some sort of a threat but of course China can never get such a guarantee,” said Thomas Harr, a currency strategist at Standard Chartered Plc in Singapore. The U.S. may assure China that it will clean up the financial system and that it “won’t push for a weaker dollar but they can’t promise not to increase the fiscal deficit,” he said.

We'll never be able to pay back those trillions unless we devalue the dollar. Maybe this demand is a play for us to raise interest rates on the treasuries? If we do that, the US government will self destruct from humongous interest payments on the debt. Seems like we've got a Catch-22 game going on.
Zoocat is offline   Reply With Quote
Old 02-13-2009, 12:20 AM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
Join Date: Oct 2006
Posts: 7,604
It is all about Karma.

As I have said several times, there is a certain justice to the Chinese selling us toxic toothpaste, toys, and dog food, and us paying for these junk with toxic financial instruments.
clifp is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Retiree Poll on The Financial Crisis chinaco Life after FIRE 50 12-16-2008 12:11 PM
The Financial Crisis -- The Aftermath chinaco FIRE and Money 30 10-29-2008 08:31 AM
Financial crisis effect on muni bonds mark500 FIRE and Money 4 09-23-2008 08:31 PM

» Quick Links

All times are GMT -6. The time now is 04:10 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.