***CHINA WATCH 2009***UPDATE 1-4-09
I think that, at this point, the position we are in, we are at the mercy of what China does. I came across this site called market skeptics a couple of days ago and it looks like he is focusing on what China is doing here lately. Looks like they want to start to introduce the Renminbi (Yaun) as an international currency. There seems to be a good amount of information here, and the sites where he pulled the articles from are also linked. Make sure to check out the others posted on the right hand side. I feel this deserves some attention and also to be tracked as our currncy is at its mercy (in my opinion)
http://www.marketskeptics.com/2008/12/china-makes-yuan-inter...
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
UPDATE-
its long, but worth skimming through at least
he gives a breakdown of the major economies - the currency they use and the trade deficit or surplus they are running
http://www.marketskeptics.com/
10 major threats to the dollar
http://www.marketskeptics.com/2009/01/ten-major-threats-faci...
bump
bump
Good stuff!
Thanks for the heads up on the site. I'm moving to China in 10 days actually, so this is the sort of stuff I'm always looking for! I'll probably start by teaching english to pay bills while I continue improving my Mandarin.
While I'm away, I expect the DailyPaul to probably remain one of my most important tethers back to home. Wish me luck ya'll!
happy new year bump
happy new year bump
Here is some more.
"China has said it is to allow some trade with its neighbours to be settled with its currency, the yuan."
"Most of China's foreign trade is settled in US dollars or the euro, leaving exporters vulnerable to exchange rate fluctuations.
The yuan is not yet a freely convertible currency.
"Analysts told Chinese media that the yuan was already being used in some South East Asian countries and that China was happy to see such use extended. "
Officials did not say when the trial scheme would start.
When it does, the yuan could be used to settle trade between parts of eastern China (Guangdong and the Yangtze River delta) and the territories of Hong Kong and Macau, and between south-west China (Guangxi and Yunnan) and the Asean group of countries (Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam). "
http://news.bbc.co.uk/2/hi/asia-pacific/7799541.stm
I think that this type of movement by the Chinese could culminate towards the end of 2009 so we could probably see 3 quarters more deceptive federal reserve note usage before we see a complete crash before 2010.
http://www.meetup.com/RP2012GrandJunctionCO
Paulson Made 70 Trips To China. To keep them placated.
They kept buying our worthless bonds, until now.
12/14/2008
Paulson, China and the turmoil beneath
By Henry C K Liu
US Treasury Secretary Henry Paulson, an expert on China with more than 70 business trips there as a private banker, is in China with six other cabinet members and the chairman of the Federal Reserve, Ben Bernanke, to discuss US-China trade relations.
http://www.atimes.com/atimes/China_Business/HL14Cb04.html
So what happens when Obama
So what happens when Obama goes to China for the 850 billion stimulus and they tell us no. I mean we cant really be a good investment for them any longer can we? Not only will they not lend us money, they will probably start cashing out of all the T-bills they are holding. I cant see how we avoid this. Any thoughts?
I think we will begin to issue bonds payable in Yen and Yuan
we will have to.
Carter Bonds
http://en.wikipedia.org/wiki/Carter_bonds
I think Obama
will sell the rest of our ASSETS for a loan. China might like a road that goes though our country so they can ship our resources to their country more easily. Just a thought.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Agree
I think you are right. And once the holders of dollars start edging toward the door, there will be a panic because the last one out of dollars loses the most. The avalanche of dollars will cause dramatic inflation here.
Nice Site
Bookmarked-Thanks!
Also, could this be the sort
Also, could this be the sort of thing (relationship) that could start a war?
It would depend on how
It would depend on how successful they are in expanding this process. If they could get most of Asia involved, it could very well start a war. Remember, if the dollar goes by the wayside and is denounced as a reserve currency, we are the ones left holding the bag of worthless FRNs, while the rest of the world would then be willing to accept a new reserve currency. That would put us in a pretty perilous, and desperate, situation.
No one needs to be reminded that we've started wars over MUCH less.
http://federalfallacy.com
http://federalfallacy.com
China has already started
China has already started allowing it's close trade partners to deal in the yuan. It is a very smart move on their part so they won't have to rely on our counterfeit dollars.
http://www.meetup.com/RP2012GrandJunctionCO
China is waking up to the
China is waking up to the fact that their Treasuries will be worth 0 if they don't do something soon. They are already pissed at Paulson and the Fed for devaluing the dollar. This move very smart if you ask me...it basically allows them to sidestep the international currency markets.
People think China absolutely needs the US to consume it's junk, but they are rapidly preparing for domestic consumption and are much better positioned financially to weather the storm.
http://federalfallacy.com
http://federalfallacy.com
Exaclty, i know most on this
Exaclty, i know most on this board agree with this, or understand it. Its nice to have found a site where you can readily come across this info on China.
The thing I always hear from the typical American is just what you stated (China needs the U.S. to consume its junk) and it pisses me off that they can be so blind. Anyway, check out some of the other articles on there as well.
we have people on this site
we have people on this site who say the same thing!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐