posted on Jan, 17 2011 @ 07:05 AM
reply to post by sbctinfantry
I think it's laughable that our politicians want to control a different sovereign nation's currency and monetary policy. Why would China listen to
us? Is our system worthy of admiring, or learning from?
Hu also offered a veiled criticism of efforts by the U.S. Federal Reserve to stimulate growth through huge bond purchases to keep down long-term
interest rates, a strategy that China has loudly complained about in the past as fueling inflation in emerging economies, including its own. He said
that U.S. monetary policy "has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S. dollar should be kept at
a reasonable and stable level."
Hu's responses reflect a China that has grown more confident in recent years—especially in the wake of the global financial crisis, from which it
emerged relatively unscathed.
If anything, we should take a few lessons from them.
And, our politicians are upset because China's exports are so CHEAP...something good for buyers all around the world.
That is likely to disappoint Washington, which accuses China of unfairly boosting its exports by undervaluing the yuan, making its products
cheaper overseas. The topic is expected to be high on U.S. President Barack Obama's agenda when he meets Mr. Hu at the White House on
So, China likes to export at low prices, and curb inflation.
End result, very soon the dollar will not be the 'dominating world currency'.
...he[Hu] called the present U.S. dollar-dominated currency
system a "product of the past" and highlighted moves to turn the yuan into a global currency.
I like Ron Paul, and he has made the case for currency competition here in America. He sees the flaws and knows that we need a change. If we don't
have competition here in America, where the best system would win out over time, there is world competition and the Fed monopoly monetary policy is
edit on 17-1-2011 by BenIndaSun because: (no reason given)