China pushes for SDR to displace US dollar - 28 Jun 09

[RexallMetal]

To all people that hate God and the Bible, and refuse to believe it is true. It's right

there in Revelations, all people will have to take the mark of the Beast 666 in order to trade, buy or sell anything. One world currency is coming ! wake up. The US dollar is dieing as a World currency. As governments fall, and debt kill econimes, One world leader will take over called the AntiChrist. you will see the Bible is coming true right before your eyes.

[J5MARLON]

Thank you Bill Clinton and GW Bush

[TheMoviebuff78]

Wanne get rid of the debt well good.best thing to do is let them pay 25%tax for importe there shitty products.

[drewzillasaurusrex]

SDR currency will not be more stable. All countries are inflating their currencies. This is just another proposed liquidity scam. I won't accept the SDR in my country. Only the sheeple will accept the SDR in the USA.

[pillowbugg]

It's only a matter of time before we are forced to adopt a one world currency. It's all by design.

[Hahnsolo07]

Lol - funny coincidence chinese tv is called cctv :)

[stealthpakfa]

i say bring the new world order.

i want the sdr.

[frankqio]

SDR should be applied

[dons123111]

China's currency may be the new worldwide currency that replaces ours. China has debt too, but holds our Treasury notes in the tune of 1.5 trillion. We don't have that kind of leverage. Once China cashs these in, her debt will fall, the Yuan will climb, and we will be playing 2nd fiddle. Who knows, vast amounts of Chinese will have dough and come in a buy up your neighborhoods, and I will be the welcome wagon. Nee how ma!

[buzongtang]

@dons123111

Haha. Think about this for a second: why would China want its currency to value when its export dependent economy gets such a great trade advantage from a devalued yuan?

And just because a country holds debt, doesn't mean it has an uber bargaining chip. China may hold US debt but it's also completely dependent on US and EU consumers and investors, and until recently the renmenbi was pegged to the dollar. For the time being, China likes the status quo. It needs the status quo.

[dons123111]

@buzongtang It was almost 11 months since I made that post. Interesting that today, China decides to raise interest rates, in other words, shorten it's money supply, and not hitch the value to the dollar. They must have been afraid of too much inflation coming from the US in the QE's, and the 3rd one was being planned that would devalue the buying power of the US treasure notes they are holding. So 1/2 of what I predicted 11 months ago is coming true. The Yuan may still be the new currency.

[buzongtang]

@dons123111 I donno man. China needed to unhitch from the dollar at some point. With D.C. breathing down their necks to value their currency and the fact that an artificially devalued yuan was making it harder for Chinese to buy things, a change was inevitable.

Still, you're reaching when by speculating on whether or not the yuan will become the world's reserve currency. The US economy has had a hiccup but it is by far more trusted than China's, who is a nation with a lot of big problems.

[dons123111]

@buzongtang I wish I was reaching. But the debt is too high in America now, it's like the debt of 3rd world nations who default on their loans. GDP to debt is 90% and expected to reach 100% in a few years. That's total 3rd world crap. The President will seek to cut back on spending with congress and more taxes will only drive out the producers that are needed to pay the debt. The PIGS in Europe, Portugal, Ireland, Greece and Spain, have debt over 100% of GDP and are about to default also.

[dons123111]

@buzongtang China has already downgraded the Treasuries ability to pay back the debt last week, so we have already made a move and it should motivate politicians. The major credit rating agencies like Moodys is warning the Treasury of a possible move later on this year that they will downgrade credit worthiness from AAA to AA if the debt continues to climb.

[dons123111]

@buzongtang Newsflash! The news today is talking of raising SS age requirements to 69 years old. The Ponzi scheme is already on the ropes from entrepeuners who do everything they possible can to avoid being caught in this ponzi scheme so they opt out. Raising age requirements will only drive out more producers and make the scheme even worse and bankruptcy will come to it just that much faster. Unless politicians can drive out beuracrats, they will starve the old age with their draco government.

[Tnoy34rt]

China has no plan to switch currencies. in fact they continue to invest in US TBills.

Sorry, but China is steadfast in supporting America.

[GLADIATORvsNWO]

Interesting there is a blackout on this in american news. lol. wonder why...

[mattblainewafyt]

@GLADIATORvsNWO

It was published on some mainstream sites but buried under important news like Paris Hilton getting in trouble for smoking the doobie

[buzongtang]

@GLADIATORvsNWO

I don't think there is so much a black out on this as this is Chinese Communist Party state media propaganda. You should consider the source of something before you believe it.

[chris24sj]

how about letting the chinese currency float first, see how they do with the inflationary pressures....then we'll talk....busters. Baby we got yo money.....