Author: notknowwhy

China Urges New Money Reserve to Replace Dollar! [Copy link] 中文

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Post time 2009-3-26 16:03:26 |Display all floors
Originally posted by interesting at 2009-3-25 09:48
Idiot got it right. No one forced China to buy US assets.

The 7 American airccraft carriers are born for those who do not keep dollar in their currency baske,see?
Just try!
Besides, 2 trillion is a huge and remendous amount of money, other than the US, no other country in the world can digest this huge cake!
Dollar is evil and you have to buy it as long as it is evil.:)
The Sun rises every day from the East !

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Post time 2009-3-26 20:09:22 |Display all floors
Originally posted by wanzheli at 2009-3-26 16:03

The 7 American airccraft carriers are born for those who do not keep dollar in their currency baske,see?
Just try!
Besides, 2 trillion is a huge and remendous amount of money, other than the US ...


a smart investor diversifies, perhaps 1/3 in dollars 1/3 in euros1/6 in yen and 1/6 in pounds
the EU and the euro are as large and as strong as the US and the dollar and the yen is a sixth the size of the dollar.
china gambled and it now looks like it is going to lose its gamble.

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Post time 2009-3-27 01:28:05 |Display all floors

Reply #5 interesting's post

But they coerced, begged, cried, promised, and sworn by their Bible, fully in the manner of a Wall Street saleman.  The latest sales pitch was delivered by Hilarry Clinton in China.

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Post time 2009-3-27 04:48:13 |Display all floors

The USA is sub-prime

Printing 2 trillion paper money to spend, that is, funny money.

The U.S. of A. is sub-prime now.

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Post time 2009-3-27 10:20:08 |Display all floors
Such a new move is quite bold.

There are significant advantages and opportunities for this to remain on the positive.
However it does also come with great risk.

There have been many judgments based upon the idea however without a real understanding of balance between its potential and risks.

To steer away from a dead end road does not mean to go onto familiar roads that leads to the same fate. It is the courage to seek anew that we may find our own future; an truth that many are afraid to take to change with time.

So be it.

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Post time 2009-3-27 12:37:42 |Display all floors
Actually, to my knowledge, nothing would have stopped China earlier from working with the IMF to hold SDRs.

Idiot is correct: China gambled massively that the dollar would remain high. They thought it was a safe bet even though a passel of US economists insisted for about a decade that the dollar must fall from unrealistically high levels.
"Justice prevails... evil justice."

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Post time 2009-3-27 13:21:54 |Display all floors

Reply #7 totothedog's post

yes you are right again!

if the US$ forex is used to buy Euro, Bpd or Yen, it would shoot up the value of those currencies!
with the same effect on the value of the US$.

so, the only logical way is using the additional US$ reserves to purchase STRATEGIC MINEREAL, METAL and CRUDE OIL reserves.
Domestic Mint of Rmb in weak international market does not cost much if done in a proper manner!


IT's GOOD TIMES IN CHINA.
NEVER IN HISTORY OF MODERN CHINA, does it have so much power to do so much!

ha ha ha


Green DRagon
Game Master

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