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China dumping the dollar calls for new global currency
08-06-2011, 02:04 PM #1
Strigoi Member
Posts:684 Threads:44 Joined:Mar 2011
Quote:In a harshly-worded commentary by the official Xinhua news agency, China gave its first official comments on the United States losing its gilded AAA long-term credit rating.

"China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," Xinhua said.

"The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," Xinhua wrote.

http://www.telegraph.co.uk/news/worldnew...rency.html

ready to receive the mark?

- God help us all-
08-06-2011, 02:09 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,279 Threads:1,438 Joined:Feb 2011
wtf2.gif Game over, nice find and instant pin hs! hi5.gif This is the death of the dollar as a reserve currency. This has some serious implications. Gravely serious.
One world cashless currency theory eh? hmm.gif I'll admit that's plausible for perhaps the first time, AND it's not like those in charge to let a good crisis go to waste.

wonder.gif
08-06-2011, 02:32 PM #3
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Add the interesting fact that an Iranian hardliner is head of OPEC this year. Iran Names Commander on U.S Sanctions List as Oil Minister If he decides to cut output, and the US can't borrow money to buy energy it could get really nasty. Iran and China have HUGE energy agreements...
08-06-2011, 02:49 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,279 Threads:1,438 Joined:Feb 2011
China and Iran could conceivably cripple the war machine, if I were a betting man I'd lay odds on it happening.

wonder.gif
08-06-2011, 02:54 PM #5
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Possibly end of the petro dollar damned.gif
08-06-2011, 04:35 PM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,279 Threads:1,438 Joined:Feb 2011
Most assuredly and for those of us that knows what that means damned.gif This is what saved the US from meltdown after abandoning the gold standard, they propped up the House of Saud perpetually in return for the dollar as the reserve std for oil.
Once that's gone, we iz all fukked!

wonder.gif
08-06-2011, 05:07 PM #7
Kreeper Griobhtha
Posts:10,595 Threads:633 Joined:Feb 2011
Could there be any doubt this was planned?


S&P downgrades U.S. credit rating


A Treasury Department spokesman pushed back on the rating change, saying that S&P's analysis was flawed.

A source familiar with the matter said S&P initially miscalculated the growth trajectory of the nation's debt, and then went ahead with its downgrade anyway.


How do you miscalculate by $2 TRILLION?


There is only one solution.


.

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
08-06-2011, 05:12 PM #8
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(08-06-2011, 05:07 PM)Kreeper Wrote:  Could there be any doubt this was planned?

The whole debate (Obama and Boehner) was a staged show, there was never any doubt the debt ceiling would be raised. So if the markets tank Monday and S&P can be pursuaded to acknowledge that error, they can recant the downgrade and tra la la happy happy. But of course austerity measures will be part of restoring the AAA rating. Yes it was all planned.
08-06-2011, 05:18 PM #9
Kreeper Griobhtha
Posts:10,595 Threads:633 Joined:Feb 2011
(08-06-2011, 05:12 PM)Shadow Wrote:  
(08-06-2011, 05:07 PM)Kreeper Wrote:  Could there be any doubt this was planned?

The whole debate (Obama and Boehner) was a staged show, there was never any doubt the debt ceiling would be raised. So if the markets tank Monday and S&P can be pursuaded to acknowledge that error, they can recant the downgrade and tra la la happy happy. But of course austerity measures will be part of restoring the AAA rating. Yes it was all planned.

And when the market tanks and the rating is restored, watch and see who profits the most.


.

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
08-06-2011, 05:22 PM #10
Kreeper Griobhtha
Posts:10,595 Threads:633 Joined:Feb 2011
Actually, I have a feeling they are going to try to enact the one world currency before they restore the rating. The only way Americans will go for that is if things get much worse and they see it as beneficial. The dollar would have to become completely worthless for that to happen. I could get all creepy end timey here, but it creeps me out when I do that.


.

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
08-07-2011, 09:35 AM #11
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
hey china how's that euro working out for ya any better than the green back?coffeetime.gif
08-07-2011, 07:35 PM #12
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
I've been saying for years, biere will be the best currency in the future.

Biere.
08-07-2011, 08:08 PM #13
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,279 Threads:1,438 Joined:Feb 2011
(08-07-2011, 07:35 PM)yankees Wrote:  I've been saying for years, biere will be the best currency in the future.

When one can make their own, effectively; they're printing money. We're the Ben Beernakes of the future baby! beerbong.gif

wonder.gif
08-07-2011, 08:12 PM #14
Kreeper Griobhtha
Posts:10,595 Threads:633 Joined:Feb 2011
(08-07-2011, 08:08 PM)JayRodney Wrote:  
(08-07-2011, 07:35 PM)yankees Wrote:  I've been saying for years, biere will be the best currency in the future.

When one can make their own, effectively; they're printing money. We're the Ben Beernakes of the future baby! beerbong.gif

Except that Ben doesn't eat all the money as soon as the ink dries.


chuckle.gif

I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
08-07-2011, 09:13 PM #15
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(08-07-2011, 08:12 PM)Kreeper Wrote:  Except that Ben doesn't eat all the money as soon as the ink dries.


chuckle.gif

rofl.gif rofl.gif rofl.gif iagree.gif

Tel Aviv stocks fall 7 pct after U.S. debt downgrade

pop2.gif



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