World Prepares to Dump the Dollar

This is rich, perhaps we may become “ChinAmerica.”, how the US and China are so interconnected that they will end up blending together.

What you think about that one SLAYER,

Originally posted by marg6043
Well if that is true time will only tell which economic power will go down first the mighty USA or the newly developed and developing China.

Now that's the kind of action a guy could get emotional over.

Odds marg ?

reply to post by marg6043



[atsimg]http://files.abovetopsecret.com/images/member/5bac9b973579.jpg[/atsimg]

reply to post by OBE1


I guess I do get emotional about the way my nation has gone thanks to the morons running government, but I am getting more and detach now, my friend.

SLAYER I guess my secret is not so secret anymore I got that from economycrisis. org.

Interesting article on ChinAmerica.

Originally posted by marg6043
reply to post by SLAYER69

 

Thanks for the picture, but as you know very well Chavez loyalties are right now with China and he is supporting the new emerging currency proposed by China.

Chatter about a new global currency is overblown

By Robert Pozen

Published: July 29 2009

At the US-China summit this week, Chinese officials raised concerns that the surging US budget deficit could undermine the value of China’s huge dollar holdings. These same concerns motivated the governor of the People’s Bank of China to suggest replacing the US dollar as the world’s reserve currency with special drawing rights issued by the International Monetary Fund. To be specific, he proposed that central banks be allowed to swap their dollar reserves for SDRs held in a substitution account by the IMF. SDRs represent a basket of four currencies – comprising 44 per cent US dollars, 34 per cent euros, 11 per cent yen and 11 per cent pound sterling.

However, SDRs are not a realistic alternative to US dollars as the global reserve currency because there are too few of them in circulation. For the same reason, swaps of US dollars for SDRs would have limited utility.

reply to post by SLAYER69


Yes but that is why the IMF is going to have a meting on August 7 to see if they will increase the SDR circulation.

I will wait until August and see what their decision will be.

Originally posted by marg6043
Interesting article on ChinAmerica.

And those rumors about Chinaco ?

...new currency; YuanValdez ?

Overblown ???

There is absolutely no disagreement that China is the latest upcoming power. But contrary to pop culture view it wont be the only world power. Lets be real here for a second. The US and China are ALREADY so intertwined it's almost impossible to separate the two economies.

Once China opens it's markets to foreign products more they WILL at that point be a REAL world player. For now it's all going one way. They have that huge reserve but almost nothing is spent on the vast amount of the rest of the population. Sure they have modern skyscrapers and new freeways/highways systems. This is a good thing. I wonder which country they modeled their system on? ANYWAY...

This will be a bi-polar/multi polar world. The US is not going to just shrivel up and disappear.



[edit on 29-7-2009 by SLAYER69]

Originally posted by marg6043
reply to post by SLAYER69

 

Yes but that is why the IMF is going to have a meting on August 7 to see if they will increase the SDR circulation.

I will wait until August and see what their decision will be.

Exactly this is going to be interesting to see how that plays out.

reply to post by OBE1


I wonder also, but we know that the dollar will still be circulating regardless but with another currency nations will be able to make choices on what they will use.

That will not be good for the dollar.

reply to post by SLAYER69


I know, but I find this connection very dangerous for the well being of our nations sovereignty.

More and more I see our nation been less American and more foreign interest, the danger of that is that this foreign interest can manipulate policies that no necessarily will be for our best interest.

reply to post by marg6043


We went through the same fear mongering during the late 70s and early 80s about how Japan was buying everything up and putting us out of business yadda yadda blah blah blah...

We are ALREADY that way. We have people from all over the world lobbying our Government. This is a case of the US needing to learn how to function and prosper in a global economy not trying to still go it alone. I fully understand whats been happening. But again we aint just going to shrivel up and go poof one day.

reply to post by xoxo stacie

Your right, that is Exactly why all the "Little Banana Boat Republics" & "Wanna Bees" are "Saber Rattling" & "Buzzing Round" lately to find a "Position of Power" in the NWO!!! When will Americans Wake Up & realize Scripture is NEVER WRONG & what people here have devoted their Lives to Research & bring out into the "open" is Fact???

reply to post by marg6043


Sorry I didn't get a chance to respond earlier.

In reply to this post.

In todays world is prove with US two wars in the middle east that it doesn't take armies to bring down the great nations of the US economically.

The times of weapons of mass destruction and Armies are gone.

Look around you and see that now the biggest war even know to man kind is been wagged all around us, is call the the economic war.

Actually the wars in Iraq and Afghanistan have gone far better than anyone could have predicted. The U.S. took down two crooked, abusive regimes, and set up democracies, and won the favor of the people. I didn't support the Iraq invasion, but have to admit it succeeded.

These two wars are not what has caused this current world economic down turn, it is too much reliance on U.S. consumers to carry the world's economy. The thing everyone continues to ignore is that the current economic downturn is a result of being too productive. We are not suffering from a lack of goods and services, but from our own success.

It takes fewer and fewer people to make more and more happen. This results in fewer and fewer people having jobs, and therefore income. Fewer people with jobs, means fewer people with incomes, which means fewer people buying things, thus, the drop in demand.

The only real solution is to reduce the hours in the work week. People work fewer hours, so more people can have jobs.

reply to post by poet1b


While that sounds like a solution it also bring the issue of America already dying middle class, the class that is the ones that use to support the nation.

Lowered wages and cutting on work hours will hurry the down-spiral that we are facing of reversing the nation to pre industrial status.

How can America support demand with less money.

No an option in a nation that depends on consumerism to thrive and that we depend on nations exports to supply what we don't produce anymore.

That is Why China and Americas economy have become so intertwine.

reply to post by marg6043


How can America survive making less money and working less hours?

By a continuing drop in prices, especially of things like home prices, which are grossly over priced due to the manipulations of the banking and investment industry.

The U.S. also needs to re-instate usury laws. Banking has become too profitable, which is why such high levels of debt have been encouraged. This debt driven, house of cards economy was created because it was sooo profitable to the investor class. It is the investor class that we need to eliminate.

How is this going to happen. With modern automation capabilities, a small firm, or even an individual, or a family, could mass manufacture a product in their garage, or a small warehouse. Then they can market their products on the internet. This will be the wave of the future.

Replace the oil industry with bio-diesel from cannabis, electrical power with a combination of wind and solar power, and we enter a new world. Bye bye giant corporations.

reply to post by poet1b


When I was growing up my clothes used be made by a seamstress, because it was cheaper and better.

We used to grow our own food, raise our own animals.

What happen? well modernization and government happen.

People stop raising animals in their back yard due to zoning laws, people that used to sew in their homes could not afford anymore the materials and the labor wasn't even worth it.

The reason the small farmers in America has die is due to the government monopolizing crops because big corporations lobbying.

They wanted us out in the streets and in the malls buying in stores.

Working at home was not longer an option unless is now INTERNET related.

Government laws and lobbyist will be a very hard issue to beat this days.

reply to post by marg6043


The church, with their divine rights of Kings doctrine was hard to defeat, but it happened.

When the industrial age was born, huge amounts of capital was needed to build factories to mass produce things, and so a new aristocrat was born, the industrialist/millionaire/billionaire. The system has never worked well, constantly on the verge of collapse through boom and bust cycles.

Of course giant corps will fight, but can they stop progress?

Originally posted by poet1b
Of course giant corps will fight, but can they stop progress?

Occurs they have my friend, big giants like Monsanto call themselves progress.

And the organic milk industry is growing. Milk made without Growth Hormone is the only kind I will drink or give my child. I spread the word regularly. I notice these No GH sections in the store are growing, as well as farmers markets in cities across the country. Changes are a comin.