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Head of China's Central Bank Calls for the Creation of a New International Currency to Replace Dolla
declaredemer
Member Posts: 2,698
It is so significant. Life-changing.
The destruction of the dollar is, for me, one of the most regrettable things to have to witness.
China, like myself, anticipates the destruction of the US currency within a few years and something, whether a global currency or something else, to replace it. It is not inconceivable that the Federal Reserve will be abolished and replaced with an International Reserve Currency.
“Chinese are quite concerned that the large U.S. government deficits will eventually lead to inflation, which will erode the purchasing power of the dollar-denominated financial assets which they hold,” Mr. Lardy said. “It is a legitimate concern.”
Source: David Barboza, China Urges New Money Reserve to Replace Dollar, NY TIMES, March 23, 2009. www.nytimes.com/2009/03/24/world/asia/24china.html
Comments
Yep, heard about this last week. Remember, China has designs on becoming the world's #1 power and demoting the US dollar as the "world's" currency would be a big step in reducing America's prestige in the world.
CONTINUATION AND ACCELRATION OF BUSH AND PAULSON PLAN
"CASH FOR TRASH"
Paul Krugman, whose textbook I used while at the London School of Economics, has described the Geithner and Obama plan, which is the continuation and accelration of the Bush plan, as filling him with a "sense of despair."
Please see his article:
Paul Krugman, Financial Policy Despair, NY TIMES, March 22, 2008.
www.nytimes.com/2009/03/23/opinion/23krugman.html
This is the same plan where if the "toxic assets" go UP: investors profit;
If the "toxic assets" go DOWN: the taxpayers guarantee it.
THIS IS INSANE!
IT APPEARS WE ARE WITNESSING NOT A CONTINUATION
BUT AN ACCELERATION
OF THE BUSH AND PAULSON PLANS!!!
Now! I am nervous. (and of course we have sucker rallies)
And you thought he would be diffrent? It cant get any worse?
I told you so Just dosent cut it.
If ye love wealth greater than liberty, the tranquility of servitude; greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen.
Samuel Adams
U.S dollar is safe along as Canada, Europe and Australia backs it.
I wish people would listen ahead of time. But no .. we are going to ride on "hope".
feels like a sick game of roulette..
lets put it all on hope and spin the wheel! C'mon hope ! make my day!
Our cut throat money is all that matters people > theirs is what I hope. If not then cut your looses and drive them into bankruptcy and laugh at the world when you open the doors to Fort Knox and start stamping real money.
Then again I am pretty damn drunk and probley will read this without even knowing I posted it.
HI ME /WAVE
ww3 by the end of the year
^^^Doom^^^.
Lmfao.
Does anyone else picture the people who post all these America is doomed threads to look like this?
The Official God FAQ
You will not hear me say that it is, "America's doom."
But it is profoundly significant in terms of regular Americans' ability to (1) borrow and (2) spend.
The people who least understand the significance of the devaluation of the dollar will most-likely stand to suffer the most from it. When the pound, or deutsche mark, lost its reserve standing, you saw a substantial reduction in the standard of living for ordinary people there.
At this point, I have said enough on the subject. Yes. I am very sympathetic for ordinary Americans and how we have a borrower-economy that was not sustainable. But it is over.
If it is not obvious at this point, it perhaps never will be.
The shame is that most Americans do not know what is going on, and many countries around the world would like to see the devaluation of the US currency. Some people think our era has run, and that it is time for a new "international currency" to replace the dollar as the reserve standard.
YOU will as a result probably never get to appear to be middle-class in terms of borrowing for (a) school, (b) cars, (c) houses, and so forth like you have in the parents.
It is not even that I am THAT opposed to it; but I would have rather had a responsible government and a responsible citizenry than the collapse of the US currency, which is inevitable at this point. Timing it precisely will be impossible.
They closed the Starbucks in the mall, maw! Run for the hills. Grab the chitlins! Where's tha' ammo? OMG... I have to make coffee at home now.. holy shit! Do we still have the Y2k land in Montana??? Won't somebody please think of the children??!! God damned economy. I can barely afford to drive to the gas station to pick up my daily carton of cigarettes and 24-pack of Budweiser. Dirty bastard politicians wasting all my money. Let's go breed us up some more welfare, honey, daddy needs a new widescreen from the Wal-Mart. We can afford this $3500 mortgage. Shit, what? Forclosed???!! What the hell, why didn't they tell me I couldn't afford that!!!!??? We're doooooooooooooooooooooooooooooooooomed and it's all YOUR fault.
---
I ask for so little. Just fear me, love me, do as I say and I will be your slave.
Personally, i think it's about time there was an end to the US dominance in the world but i wouldn't like to see, is another country just filling in the power vacuum. OFcourse all Americans on this forum are gonna hate what i've just said but the american population of the world is miiniscule compared to the global pop. I think that the GBP will rise (this is random guess btw not based on anything), which would be good for me (seen as i live in the UK) but tbh i wouldn't like any sort of global dominance by a western power atleast.
"If they can make Penicillin out of mouldy bread, they can sure make something out of you," - Muhammed Ali
That looks like you're average welfare reject Obama voter.
And their vote counts just as much as yours.
No they dont they are Evil lying tree hugging Communists.
Only 7 foot tall blond blue eyed Air--err AMERICAN god fearing Republicans can trully be considered valid voters.
Another great example of Moore's Law. Give people access to that much space (developers and users alike) and they'll find uses for it that you can never imagine. "640K ought to be enough for anybody" - Bill Gates 1981
Oh yes, CHina is so well known for the treatment of thier people. The 100 monks in tibet that were just arrested can attest for this I guess? Can you imagine a world ruled by China? LOL... one thing is certain , no matter how you wish it the world will not be ruled by the Middle East. The world would be destroyed in the process.
Oh yes, CHina is so well known for the treatment of thier people. The 100 monks in tibet that were just arrested can attest for this I guess? Can you imagine a world ruled by China? LOL... one thing is certain , no matter how you wish it the world will not be ruled by the Middle East. The world would be destroyed in the process.
"One man's freedom fighter is another man's terrorist" - Lloyd George. I am in no way saying that China should rule the world but what i am saying tehy're the 'baddies' in your eyes but it would be a hero in another persons. What you think is right is what other people think is wrong. There is not right or wrong, unless you believe in religion. Right and Wrong are peoples perceptions of what's right and wrong.
"If they can make Penicillin out of mouldy bread, they can sure make something out of you," - Muhammed Ali
Oh yes, CHina is so well known for the treatment of thier people. The 100 monks in tibet that were just arrested can attest for this I guess? Can you imagine a world ruled by China? LOL... one thing is certain , no matter how you wish it the world will not be ruled by the Middle East. The world would be destroyed in the process.
"One man's freedom fighter is another man's terrorist" - Lloyd George. I am in no way saying that China should rule the world but what i am saying tehy're the 'baddies' in your eyes but it would be a hero in another persons. What you think is right is what other people think is wrong. There is not right or wrong, unless you believe in religion. Right and Wrong are peoples perceptions of what's right and wrong.
I understand what you are saying, and I don;t think that the US has any business telling any other country how to live unless that country threatens the US. Then it is a matter of survival, not a matter of wrong and right.
In a perfect world every person would rule themselves, and there would be no need to have rulers at all. But that is not the world we live in. The closest to that was the country the founders of the United states created. As long as one persons rights do not infringe upon anothers, then all should be good. Basically that was how the US was meant to be in the first place, and I hope to see it return to it;s roots in my lifetime. Our government existed only to protect the peoples rights not rule them.
Jeez I live in the U.K. too mate.
The GBP had better not be rising anytime soon. That would screw us in the same way the strength of the Euro is screwing Ireland, Italy, Ukraine and Germany etc.
Right now we aren't making any money. Our only financial strength is that we have such massive foreign investments. We need our pound weak so that we get a lot of money back on our foreign investments and so that what little export industry we have can grow.
We are in recession, we want our currency weak.
The weakest preferably. No one wants to invest in our banks right now anyway and we don't have the spare cash to be buying up large chunks of foriegn industry atm.
I can imagine a Tibet not ruled by China.
Perhaps you should check up your history books and see it was like. It's not that long ago either.
You'd be surprised how many of those people now have access to the "the wheel". And how many of them no longer live in fear of impalement by mounted fuedal warlords.
Living history.
You can of course attempt to re-write that history like all the great societies do. Cast yourself as the good the guys, your rivals as all mindlessly evil. It's just xenophobia.
I can imagine a Tibet not ruled by China.
Perhaps you should check up your history books and see it was like. It's not that long ago either.
You'd be surprised how many of those people now have access to the "the wheel". And how many of them no longer live in fear of impalement by mounted fuedal warlords.
Yes China ahs done some good in Tibet but the way the religion of Tibet has been treated is not so good.
Another great example of Moore's Law. Give people access to that much space (developers and users alike) and they'll find uses for it that you can never imagine. "640K ought to be enough for anybody" - Bill Gates 1981
That's because all the priests are desperatley trying to drag the country back into the stone age in exchange for political control. Not to mention encourage a civil war in one of the most famously unstable regions of all time. It's like Afghanistan there. The far edge of the civilisied world, mate. It doesn't take much.
Yay the Dalai Lama is here! Yay!
FFS.
Only he can free Dr Strange from the evil clasps of Mephisto's demonic chains.
He might cut a romantic figure but he is a bloke that rules a religion based on brainwashing and who's misguided goal is to divorce his people from it's primary source of wealth and health, personal freedom and security.
He really isn't a transcendental semi deity who can levitate and bring peace to the earth through meditiation. He is a very dangerous man who can spark mass riots causing destruction of property and loss of life at a word.
You don;t seem to understand.. there is a reason for this. LOOk at our indians here in the US, they are allowed to live the way they want to live because of their religion. It is against their religion to take the road to technology, In their religion, that is Gods instructions. They should not be forced to live that way because someone else thinks it is good for them.
The Hopi as well as the people of tibet believe they are the "keepers" for God. Our government backed off for this reason, and so should theirs.
Jeez I live in the U.K. too mate.
The GBP had better not be rising anytime soon. That would screw us in the same way the strength of the Euro is screwing Ireland, Italy, Ukraine and Germany etc.
Right now we aren't making any money. Our only financial strength is that we have such massive foreign investments. We need our pound weak so that we get a lot of money back on our foreign investments and so that what little export industry we have can grow.
We are in recession, we want our currency weak.
The weakest preferably. No one wants to invest in our banks right now anyway and we don't have the spare cash to be buying up large chunks of foriegn industry atm.
I agree with you partially, we have seen a weak pound but not a significant increase in exports so weaker pound might help exports a little bit but not buy much. However a stronger pound would lead to increase investment because it shows signs of growth. The investment will have the Mulitplier effect which is basically where an initial investment leads to increase in employment which leads to increase spending which leads to growth of businesses whcih leads to vevn more employment etc... and the circle goes on. So yeah stronger pound would be better especially if you're going on holiday (which i am xD)
"If they can make Penicillin out of mouldy bread, they can sure make something out of you," - Muhammed Ali
Oh yes, CHina is so well known for the treatment of thier people. The 100 monks in tibet that were just arrested can attest for this I guess? Can you imagine a world ruled by China? LOL... one thing is certain , no matter how you wish it the world will not be ruled by the Middle East. The world would be destroyed in the process.
"One man's freedom fighter is another man's terrorist" - Lloyd George. I am in no way saying that China should rule the world but what i am saying tehy're the 'baddies' in your eyes but it would be a hero in another persons. What you think is right is what other people think is wrong. There is not right or wrong, unless you believe in religion. Right and Wrong are peoples perceptions of what's right and wrong.
I understand what you are saying, and I don;t think that the US has any business telling any other country how to live unless that country threatens the US. Then it is a matter of survival, not a matter of wrong and right.
In a perfect world every person would rule themselves, and there would be no need to have rulers at all. But that is not the world we live in. The closest to that was the country the founders of the United states created. As long as one persons rights do not infringe upon anothers, then all should be good. Basically that was how the US was meant to be in the first place, and I hope to see it return to it;s roots in my lifetime. Our government existed only to protect the peoples rights not rule them.
You haven't understood what i am trying to say, you're doing what you think is right, that does not make it right like in Vietnam, America thoguht what it was doing was right but the people of Vietnam did not. Your ideas on civil rights and general criterion of right and wrong is different to others and you should not force it on others unless they want it, which America has never thought to do. This is the reason why the global perception of America (especially in east asian countries) is of a imperialistic country and a demonic power which i know in many ways is not true but again i fail to blame them for it, considering America's action.
"If they can make Penicillin out of mouldy bread, they can sure make something out of you," - Muhammed Ali
Oh yes, CHina is so well known for the treatment of thier people. The 100 monks in tibet that were just arrested can attest for this I guess? Can you imagine a world ruled by China? LOL... one thing is certain , no matter how you wish it the world will not be ruled by the Middle East. The world would be destroyed in the process.
"One man's freedom fighter is another man's terrorist" - Lloyd George. I am in no way saying that China should rule the world but what i am saying tehy're the 'baddies' in your eyes but it would be a hero in another persons. What you think is right is what other people think is wrong. There is not right or wrong, unless you believe in religion. Right and Wrong are peoples perceptions of what's right and wrong.
I understand what you are saying, and I don;t think that the US has any business telling any other country how to live unless that country threatens the US. Then it is a matter of survival, not a matter of wrong and right.
In a perfect world every person would rule themselves, and there would be no need to have rulers at all. But that is not the world we live in. The closest to that was the country the founders of the United states created. As long as one persons rights do not infringe upon anothers, then all should be good. Basically that was how the US was meant to be in the first place, and I hope to see it return to it;s roots in my lifetime. Our government existed only to protect the peoples rights not rule them.
You haven't understood what i am trying to say, you're doing what you think is right, that does not make it right like in Vietnam, America thoguht what it was doing was right but the people of Vietnam did not. Your ideas on civil rights and general criterion of right and wrong is different to others and you should not force it on others unless they want it, which America has never thought to do. This is the reason why the global perception of America (especially in east asian countries) is of a imperialistic country and a demonic power which i know in many ways is not true but again i fail to blame them for it, considering America's action.
I agree nothing should ever be forced, unless it is a threat to others rights. Everyone should be given the right of choice.
it goes back to victimless crime. if someone wishes something for themselves that is fine, if they wish to impose their wishes upon everyone else that is not fine, no matter what religion, no matter what country. It boils down to " human rights" .
If mulsims wish to live in peace , with their prayer, their families, their beliefs that is fine. Now if some of those muslims want to take over the world and impose their beliefs on everyone else, that is not fine. They are not entitled to do so by " human rights".
If Christians wish to live in peace, with their prayer, their familes, their beliefs that is fine. now it is not fine for them to take over the world and impose their beliefs on everyone else. That is not fine, they are not entitled to do so by "human rights."
This applies to all religions, and lack of belief in them.
We have Amish, indians, and all of the religions of the world living here in the US. Those here like the Amish and the Hopi do not believe in the use of technology, and are allowed to live peacful lives practicing their religion without outside interfereance, because they do not go around trying to make everyone live that way.
We cannot change the past, we can only act in the present and affect the future. That is all we can do, complaining about past and placing blame does nothing to solve the problem.
All men and women ARE created equal , and under human rights should be protected. As long as active participation in any religion does not conflict with that, or conflict with someones right to happiness, and existance, and right to not be harmed there should be no problems. It is only when people are not given that choice does conflict arise. It should be a choice on whether or not someone wishes to actively particpate, or not in any peaceful religion, not a law. This is a Human right, not an implementation of any religion.
Oh yes, CHina is so well known for the treatment of thier people. The 100 monks in tibet that were just arrested can attest for this I guess? Can you imagine a world ruled by China? LOL... one thing is certain , no matter how you wish it the world will not be ruled by the Middle East. The world would be destroyed in the process.
"One man's freedom fighter is another man's terrorist" - Lloyd George. I am in no way saying that China should rule the world but what i am saying tehy're the 'baddies' in your eyes but it would be a hero in another persons. What you think is right is what other people think is wrong. There is not right or wrong, unless you believe in religion. Right and Wrong are peoples perceptions of what's right and wrong.
I understand what you are saying, and I don;t think that the US has any business telling any other country how to live unless that country threatens the US. Then it is a matter of survival, not a matter of wrong and right.
In a perfect world every person would rule themselves, and there would be no need to have rulers at all. But that is not the world we live in. The closest to that was the country the founders of the United states created. As long as one persons rights do not infringe upon anothers, then all should be good. Basically that was how the US was meant to be in the first place, and I hope to see it return to it;s roots in my lifetime. Our government existed only to protect the peoples rights not rule them.
You haven't understood what i am trying to say, you're doing what you think is right, that does not make it right like in Vietnam, America thoguht what it was doing was right but the people of Vietnam did not. Your ideas on civil rights and general criterion of right and wrong is different to others and you should not force it on others unless they want it, which America has never thought to do. This is the reason why the global perception of America (especially in east asian countries) is of a imperialistic country and a demonic power which i know in many ways is not true but again i fail to blame them for it, considering America's action.
I agree nothing should ever be forced, unless it is a threat to others rights. Everyone should be given the right of choice.
it goes back to victimless crime. if someone wishes something for themselves that is fine, if they wish to impose their wishes upon everyone else that is not fine, no matter what religion, no matter what country. It boils down to " human rights" .
If mulsims wish to live in peace , with their prayer, their families, their beliefs that is fine. Now if some of those muslims want to take over the world and impose their beliefs on everyone else, that is not fine. They are not entitled to do so by " human rights".
If Christians wish to live in peace, with their prayer, their familes, their beliefs that is fine. now it is not fine for them to take over the world and impose their beliefs on everyone else. That is not fine, they are not entitled to do so by "human rights."
This applies to all religions, and lack of belief in them.
We have Amish, indians, and all of the religions of the world living here in the US. Those here like the Amish and the Hopi do not believe in the use of technology, and are allowed to live peacful lives practicing their religion without outside interfereance, because they do not go around trying to make everyone live that way.
We cannot change the past, we can only act in the present and affect the future. That is all we can do, complaining about past and placing blame does nothing to solve the problem.
All men and women ARE created equal , and under human rights should be protected. As long as active participation in any religion does not conflict with that, or conflict with someones right to happiness, and existance, and right to not be harmed there should be no problems. It is only when people are not given that choice does conflict arise. It should be a choice on whether or not someone wishes to actively particpate, or not in any peaceful religion, not a law. This is a Human right, not an implementation of any religion.
Again you fail to understand my point....it is your perception of human rights may not be the rest of the worlds perception
"If they can make Penicillin out of mouldy bread, they can sure make something out of you," - Muhammed Ali