Jump to content

I'm ready for your apologies :)


Recommended Posts

  • Replies 28
  • Created
  • Last Reply
Guest lazyphil

i'm going down the local chinese takeway and ask for a rebate in the shape of some free dimsum with my order of goodies!!

 

sat night same thing at my local idian......thais are ok, they just bailed out a steel works here buying them out and keeping some jobs safe!!

Link to comment
Share on other sites

IMHO' date=' both China & India need to work on keeping the electricity on for more than 24 hours straight before thinking about becoming economic superpowers.

 

Just sayin'...[/quote']

 

China has just announced that its foreign trade shall be done exclusively with the Yuan, beginning this year.

 

This is almost probably the beginning of the end of the USD as the leading world currency. We are looking forward to a stormy year in international trade in regard to the USD.

:surprised:

 

 

The "experts" say within two years the US dollar will be pretty much worthless...

Link to comment
Share on other sites

IMHO' date=' both China & India need to work on keeping the electricity on for more than 24 hours straight before thinking about becoming economic superpowers.

 

Just sayin'...[/quote']

 

China has just announced that its foreign trade shall be done exclusively with the Yuan, beginning this year.

 

This is almost probably the beginning of the end of the USD as the leading world currency. We are looking forward to a stormy year in international trade in regard to the USD.

:surprised:

 

That may be, but as the famous author Samuel Clements said: "The rumours of my demise have been greatly exaggerated."

 

It'll take a lot more than that to kill the USD.

 

For example, Thai requires stocks to be bought in baht. The SET has been on fire for a year, and the baht slightly overpriced (demand for currency for stock transactions making the baht artificially be stable/inflate slightly), but not so much so. This Chinese decision will end up the same thing. It'll affect exchange rates, and likely force China to float the yuan. That'll burn them in the end, since it is VERY over-valued right now. Net effect: not much.

Link to comment
Share on other sites

IMHO' date=' both China & India need to work on keeping the electricity on for more than 24 hours straight before thinking about becoming economic superpowers.

 

Just sayin'...[/quote']

 

China has just announced that its foreign trade shall be done exclusively with the Yuan, beginning this year.

 

This is almost probably the beginning of the end of the USD as the leading world currency. We are looking forward to a stormy year in international trade in regard to the USD.

:surprised:

 

 

The "experts" say within two years the US dollar will be pretty much worthless...

 

Are these the same "experts" that get interviewed on Cluster Fox & Friends??

Link to comment
Share on other sites

China has just announced that its foreign trade shall be done exclusively with the Yuan, beginning this year.

 

This is almost probably the beginning of the end of the USD as the leading world currency. We are looking forward to a stormy year in international trade in regard to the USD.

 

 

I believe the policy is not to require transaction to be settled in yuan, but to allow it. Until recently, US businesses could convert only a limited amount of yuan through a few Western banks, or inside China. Now China banks can convert whatever amount the companies want. There are still limits in place for individuals to try and prevent speculation.

 

Some experts say in 5 years or so as much as 30% of Chinese trade will be settled in yuan. There is no doubt the USD in declining as a reserve currency, but it is a slow decline and lot can happen one way or the other in the future. This is not the first time the death of the USD has been predicted.

 

TH

 

Link to comment
Share on other sites

I also find it difficult to imagine the USD being 'worthless', but I'm sure Wall St will continue to do its damnedest to bring on GFC Mk II. If you told me 3 years ago that I would buy a book written by a stockbroker, I may have asked what you were smoking, but this sends chills down my spine:

 

http://www.amazon.com/Colossal-Failure-Common-Sense-Collapse/dp/0307588335

 

 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.


×
×
  • Create New...