China calls for new currency

[Deleted member 4644]

http://www.bloomberg.com/apps/...01101&sid=atc19lxb9_SE

Mark my words. This is the biggest news in the last 10 years.

 

[PokerGuy]

Why is this the "biggest news in the last 10 years"?

China can call for whatever it wants, it will not happen. Fiat currency is always going to be tied to confidence in some sort of issuing entity. For the dollar, that entity is the US government. What would be the entity behind a new currency "delinked from sovereign nations" that would create confidence? The IMF? The UN? Don't make me giggle.

China just doesn't like the fact that it's massive US $ reserves are going up in smoke as Obama pushes towards massive future inflation......

 

[StageLeft]

Surely 911, as an example, is bigger news than yet another article on China talking about another reserve currency, as they've been doing for a while now.

 

[yllus]

I don't understand how a currency can be "delinked from sovereign nations"? The strength of any currency seems to be based almost wholly upon the perception of market trustworthiness. The U.S. dollar is trustworthy because it is issued by a government who takes tax income from a diversified, transparent and stable (all in relative terms) economy. What would the basis of this supranational currency be?

 

[PricklyPete]

Agreed...this is not big news. I just see this as a bunch of investors whining that their investment is not turning out as expected. Don't get me wrong...I hate what is being done to the dollar...but I just see this as a whinefest from China.

 

[LegendKiller]

LOL, China can "call" for whatever it wants. Frankly, it's enjoying the depreciated dollar on several respects, mainly the fact that it also depreciates the Yuan relative to other currencies, making their goods far cheaper on the international market. They've been playing this trade for years in an attempt to jumpstart their middle class in order to create a self-sustaining economy.

They failed and now they're being whiny bitches.

Exactly what would support a "supra-national currency"? The full faith and credit of the IMF or WB? The same entities that prop up failing countries and can barely help CEE economies right now?

The UN? The UN can't even decide what color the sky is, let alone how to back a currency.

Who exactly would be responsible for this currency? The Euro is facing its own crisis right now and those countries are fighting like junkyard dogs to influence the ECB. Even then, it's still based upon the full faith and credit of the Euro member countries.

 

[gingermeggs]

If the B.O.C starts an Australian national branch, I will transfer my money into a new account with them- not an awefull lot, but I don't owe a penny to no-one. Maybe their way is fairer in the long stretch.
I used to buy Stanley tools made in the Usa, then they started making them in china, then the chinese state owned companies copied the manufacturing of those tools after learning how, then they started selling them for a 1/4 of the original brand's cost- with no aesthetic "fashion" changes to the grips or color of the plastic or design flaws to make them break before they should. My equipment costs have dropped dramatically in the last 5years odd, I don't train anyone to compete against (Stanley tools should of thought the same?), so after 20 odd years of slaving away at it, I might be able to get a little freedom for myself.
Gee they have bought a lot of iron ore the last few years!
LOL

 

[JS80]

Originally posted by: Deleted member 4644
http://www.bloomberg.com/apps/...01101&sid=atc19lxb9_SE

Mark my words. This is the biggest news in the last 10 years.

Do society a favor. Stick to law and stay away from finance.

 

[OCGuy]

We better hurry up and spend some more money we dont have.

 

[sapiens74]

one world currency will issue a one world government

 

[CPA]

Originally posted by: sapiens74
one world currency will issue a one world government

and the obamaites rejoice!

 

[Turin39789]

Let me know when China gets a real currency.

 

[eleison]

Originally posted by: sapiens74
one world currency....

There is one.. its called gold..

 

[Craig234]

Originally posted by: CPA

Originally posted by: sapiens74
one world currency will issue a one world government

and the obamaites rejoice!

If by stronly preferring Obama to Republicans I'm an Obamaite, funny how I've been advocating the opposite, the need for creating a permanent, diversifed distribution of global power so that the world has an alternative to the ongoing pursuit of increasingly centralized power that has two choices, war or tyranny. Funny how it's your side who is actually blindly pursuing the indefinite buildup of US power that paves the way for this 'one world government' down the road you claim to fear.

 

[Appledrop]

Originally posted by: eleison

Originally posted by: sapiens74
one world currency....

There is one.. its called gold..

this.

ridicule it as you wish, but there is a general belief that the "NWO" will use a commodity backed currency, as you can be sure once their precious 1 world is in operation, they want to be damned sure it doesnt slip out of their grip, and a hard currency will ensure stability.

i'm not going to bother replying to any "OMG LOL CONSPIRACY NUT ALEX JONES LOL!" posts but its really hard to attribute all the things that have been going on, to anything else. The truther community are right on so many things.

 

[LegendKiller]

Originally posted by: Money

Originally posted by: eleison

Originally posted by: sapiens74
one world currency....

There is one.. its called gold..

The truther community are right on so many things.

And wrong on so many others....

Broken clock = right 2 times per day.

 

[Hayabusa Rider]

I bought 500 rolls of Kodachrome. They might want to use that. Hey you never know

 

[BarrySotero]

China and Russia understand Obama is a Marxist who is leveling the US economy so it can be neutered and slipped in to the global socialist deck - and wealth re-distributed. Likewise like the Europeans realize how stupid cap and trade is and are in awe of how stupid the US is. I can't blame them a bit for wanting to get off the dollar because Chairman O is going to make dollars worthless - and intentionally.

 

[Modelworks]

after the People?s Bank of China said the International Monetary Fund should manage more of members? foreign-exchange reserves

Didn't we just give the IMF billions of dollars ? Talk about not knowing where to spend the money.



The dollar is worth less than Brazil?s real . Damn we have fallen far.

We should return to a barter society. I got one pair of shoes and a box of unopened condoms, want to trade for newborn size baby diapers. Any takers ?

 

[gevorg]

I wonder how long it will take China to understand that the best currency is in hard assets like energy, metals, materials, etc.

 

[LegendKiller]

Originally posted by: gevorg
I wonder how long it will take China to understand that the best currency is in hard assets like energy, metals, materials, etc.

Why?

 

[cubeless]

Originally posted by: Modelworks

after the People?s Bank of China said the International Monetary Fund should manage more of members? foreign-exchange reserves

Didn't we just give the IMF billions of dollars ? Talk about not knowing where to spend the money.



The dollar is worth less than Brazil?s real . Damn we have fallen far.

We should return to a barter society. I got one pair of shoes and a box of unopened condoms, want to trade for newborn size baby diapers. Any takers ?

better hang on to the rubbers or u will be bartering the old kid to pay for the next one...

 

[LegendKiller]

Originally posted by: Modelworks

after the People?s Bank of China said the International Monetary Fund should manage more of members? foreign-exchange reserves

Didn't we just give the IMF billions of dollars ? Talk about not knowing where to spend the money.



The dollar is worth less than Brazil?s real . Damn we have fallen far.

We should return to a barter society. I got one pair of shoes and a box of unopened condoms, want to trade for newborn size baby diapers. Any takers ?

?

http://www.x-rates.com/d/USD/BRL/graph120.html