Comments on: China Calls for a New Global Currency

By: AndiB.

AndiB. — Sun, 29 Mar 2009 15:15:12 +0000

@angstrom:
@Thomas:

I’m not American… who said so?

By: Non

Non — Thu, 26 Mar 2009 03:01:58 +0000

damn I knew I should have stocked up on gold when the crisis first started. I just couldn’t convince my husband. -_-;

As for China, apparently their motto is: You can’t beat them, but you can buy them outright.

By: V

Wed, 25 Mar 2009 23:17:32 +0000

Fiat currencies need to all die.

By: Justin

Justin — Wed, 25 Mar 2009 17:19:09 +0000

I don’t really see this as anything more than international, financial, sabre-rattling. The fact of the matter is when you look at this in the long term the dollar is one of the most stable currencies out there. Obviously right now there is a major dip, but the dollar will recover and all this talk about the end of America’s economic lead will take a backburner for another 10 years.

By: Li

Li — Wed, 25 Mar 2009 16:55:28 +0000

Chollar!
Hen Hao

By: Avarana

Avarana — Wed, 25 Mar 2009 14:47:10 +0000

Well, I for one welcome the chollar.

By: ravemastaj

ravemastaj — Wed, 25 Mar 2009 14:37:57 +0000

This is going to happen. All China has to do is sell back our treasury bonds (securities), and our Treasury dept. will have to print the money to pay for them. This will cause hyper-inflation, and the world will BEG for a world currency. With Russia at China’s side in this, I can only assume this is communism about to succeed.

All I can say is: buy bullets.

By: Thomas

Thomas — Wed, 25 Mar 2009 13:37:51 +0000

“Is this the beginning of the end of the dominance of the US dollar as the world’s preferred currency?”

The beginning? For months now the Euro is becomming more and more popular as the us-dollar is weak.

@andib: america still has the death penalty. so who are you to judge?

By: Thebes

Thebes — Wed, 25 Mar 2009 08:56:56 +0000

This is really bad news, I suppose unless maybe you are Chinese.

Between the US Dollars held by foreign central banks now being very likely to re-enter circulation, and all the money Bernanke / Geithner / Obushma are throwing from their helicopters… we will have hyper-inflation by next winter. The US Dollar will be worth 1/3 or less what it is today. People might scoff at this by I predicted this mess back when the Fed discontinued the M3. We are so totally fucked. Stock up on basic essentials and know who you can rely on.

By: jim

jim — Wed, 25 Mar 2009 07:04:30 +0000

What happened to you China? you used to be cool.

By: CashGiftsDirect

CashGiftsDirect — Wed, 25 Mar 2009 02:19:54 +0000

We will see as time goes on what happens. No one can give a final say-so upon this issue. Let it play-out is all I am saying.

By: oOPonyOo

oOPonyOo — Wed, 25 Mar 2009 01:12:25 +0000

Good postings on this.

What would happen if the U.S Dollar wasn’t tied to the value of barrels of oil?

I have heard that if China calls in their debt, that would be it for the Americans.

Economic crisis, well, perhaps this is just the begining of the end of an empire. My advise, start practicing your Mandarin/Cantonese

By: Dog Droppings

Dog Droppings — Tue, 24 Mar 2009 23:50:53 +0000

We did it to the Indians, and now we’re doing it to ourselves.

The big American Ponzi scheme is coming to an end.

By: angstrom

angstrom — Tue, 24 Mar 2009 23:07:18 +0000

Hey Andi B, while you are raging on there .. why not check out who exactly owns your country

Who actually has been lending the US all thismoney that the treasury have been magic-ing up?
Who owns that national debt?

http://www.guardian.co.uk/news/datablog/2009/mar/13/useconomy-china

take a guess

By: Matt

Matt — Tue, 24 Mar 2009 22:14:19 +0000

Me Chinese me play joke, me take your land for your debt!!

By: Kev

Kev — Tue, 24 Mar 2009 21:13:06 +0000

This will get really interesting when China decides to point out that they own like a third of the US debt… and all the Americans will say “You do NOT!”; and then China says, “think what you like, but we’re sending some of our guys around to pick up your car”

By: Detroit Indian

Detroit Indian — Tue, 24 Mar 2009 20:59:16 +0000

Is that going o help much if the Chinese government continues to control the value of the yuan instead of letting the markets decide. I am no currency expert, but they would just hoard the new currency instead of he dollar and the imbalance would persist.

US surely would lose its current privilege of printing money at will, but China needs to let go of its currency as well.

By: Kalel

Kalel — Tue, 24 Mar 2009 20:52:27 +0000

The United States has quite the advantage in having other nations buy dollars in order to trade abroad. I don’t see that advantage being given up easily.

By: Medical Pastiche

Medical Pastiche — Tue, 24 Mar 2009 20:23:37 +0000

The U.S. should have been more careful before it threw 1 trillion additional dollars into the money supply. If the dollar is ditched in favor of another currency, the U.S. as we know it today will no longer exist.

By: VonSkippy

VonSkippy — Tue, 24 Mar 2009 20:02:12 +0000

I wonder where China got all that money and technology?

I’m guessing the same place that Pakistan got all their money and weapons.

The rich (doing what rich people have done for centuries)are gutting America for their own bottom line.

By: AndiB.

AndiB. — Tue, 24 Mar 2009 19:41:16 +0000

A country that doubled or tripled the number of executions within one year, where people are still held like slaves, whose economy is based on stealing trademarks and patents, which is exploiting the natural ressources of this planet at a mind-boggling rate, which pollutes every river, lake, sea, air and soil within their borders and beyond, a country where people are oppressed and the right to vote denied, where censorship is the rule instead of the exception – such a country should not call for anything, but just shut the f*** up!
It’s a shame that such a country still exists in the year 2009…