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View Full Version : China to step up push for alternative to US Dollar

classhandicapper
10-18-2013, 10:53 AM
http://ca.news.yahoo.com/u-averts-default-japan-china-brace-next-dollar-081452483--business.html
Greyfox
10-18-2013, 10:54 AM
They have a yen to do that eh?:rolleyes:
Saratoga_Mike
10-18-2013, 11:07 AM
They have a yen to do that eh?:rolleyes:

no, they have a yuan to do that!
BlueShoe
10-18-2013, 12:52 PM
no, they have a yuan to do that!
No, they don't have anything to do that. Once again we have the myth of the big, bad Chinese that are supposed to overtake and dominate the USA. Bunk. The ChiComs have major problems with their own economy, plus other issues, and are in no position to dictate to anyone. To use an old Cold War saying, they are really still just "Paper Tigers."
sammy the sage
10-18-2013, 08:56 PM
No, they don't have anything to do that. Once again we have the myth of the big, bad Chinese that are supposed to overtake and dominate the USA. Bunk. The ChiComs have major problems with their own economy, plus other issues, and are in no position to dictate to anyone. To use an old Cold War saying, they are really still just "Paper Tigers."

well except for THE fact they HOLD yours, mine and every other American's financial balls in THEIR hand...

If they unloaded ALL the paper of ours they are holding...well...let's just say it wouldn't be pretty.... :(
elysiantraveller
10-18-2013, 09:00 PM
well except for THE fact they HOLD yours, mine and every other American's financial balls in THEIR hand...

If they unloaded ALL the paper of ours they are holding...well...let's just say it wouldn't be pretty.... :(

Plus they hold the monopoly on the expensive metals market. Its not a near threat but its a legitimate future one.
Robert Goren
10-18-2013, 11:44 PM
No currency in the history of the world has been manipulated more than Yuan has been by the Chinese Government.
Capper Al
10-19-2013, 07:50 AM
It's not a totally bad idea. Let's say the bills that get exchanged between banks were equal parts US, EURO, and Yen. (I'd leave the Chinese out.) Then when the US had the Housing bubble explode in 2008 only 1/3 of the world currency would have collapsed. The world and the US might have been able to dig out of the Great Recession faster.

What's not good for the US is that we get 7% of our GDP from the fact that we are the world's standard currency. We print the gold so to speak.
Tom
10-19-2013, 11:19 AM
The effects of uncontrolled spending and irresponsible fiscal policies are coming home to roost.
Obama is not being shielded fro the international press like he is here at home.
The world is watching, and they a clown in charge here.
Blood in the water.......Obama's legacy.