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China Announces It Is About To Blast America Into Zimbabwe

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posted on Mar, 3 2011 @ 12:11 PM
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reply to post by snowspirit
 


Nice evidence. I occasionally shop for groceries in the states as it is much cheaper (especially for organic chicken!!!!
)

This story is pretty big on the Yuan taking over the US dollar. Which is inevitable by the way. However, will it be the next currency to be pegged as the next power currency? How Pegging Works

Well let's look at this:


The Yuan Trend into 2011


So are China and the US friends now?

Still, the United States and China are not quite pals. Obama wants China to adopt a “market-oriented” approach to the value of its currency. That’s too radical for the Chinese who have traditionally seen a cheap yuan as necessary to protect jobs and the country’s huge export trade. Both sides are stubborn, but these issues will at least now be discussed multilaterally, including at the G20 meeting in June.

How might China change its tune?
Still, there are good reasons for China to allow its currency to strengthen soon. Doing so would increase the affordability of its imports, largely made up of commodities and industrial machinery. It would also spare the central bank the task of mopping up billions of dollars of foreign currency every month.

So how much might the yuan move?
A sharp revaluation, of the 25-40 percent order suggested by China’s harshest critics such as the Peterson Institute and economist Paul Krugman, is pie in the sky, at least in the short run. With China’s economy recovering but fragile, and stability the top priority, short sharp shocks are in no-one’s interest. The last seismic shift, when China moved towards a “managed crawl” in 2005, came with an initial 2.1 percent revaluation. This time, even that kind of one-off move might be too much to expect.


Will a stronger yuan rebalance the world?
A bit — but mostly it will help rebalance China. By increasing the affordability of imports, and decreasing the competitiveness of exports, China would over time reduce its destabilising trade surpluses. Beijing sits on some $2.5 trillion of foreign exchange, which it has to reinvest somewhere. Doing so without distorting global markets becomes ever more of a headache.

For the United States, the results may not be so gratifying. There is no guarantee that a pricier yuan would restore American jobs lost to China’s low-cost manufacturing sector, whatever some of its politicians say. Other low-cost countries such as Vietnam and India might win business from China, merely shifting the United States’ imports bill elsewhere. Over half of China’s exports to the United States are merely assembled or processed in the People’s Republic.


Yeah, so for the US it will make production in that country more expensive. Outsourced labour may now come back to North America to help develop a stronger infrastructure, Gross Domestic Product and Gross National Product.

This is the time and opportunity for Donald Trump to run for President.




posted on Mar, 3 2011 @ 12:11 PM
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For those of you who denounce the gold standard, i highly recommend you read the history of the gold standard. When it was deemed illegal for gold to be privately owned, the marketable value went through the roof! When that act was repealed, the politicians thought by forcing mass quantities into circulation would bring the value down,thus eradicating the need for the argument of the gold standard. Problem is, when they forced the gold back into circulation, the value dropped, then rose again. Gold has always, and always will hold value.

Not to mention, having a tangible asset backing the dollar, you guarantee the value of that currency. By backing the dollar with Gold, not only do you have that guarantee, but you solidify the purchasing power of the dollar. In fact, by doing so, you remove the Power of the Feds to control the " market ", which we have seen done over the many years. The Feds have used the Fed Reserve to " control or manipulate " the market, which allows for more government intervention. Instead of allowing the Free market to dictate itself. History proves, ( during the Great Depression ), that once govt intervention ceased, the Free Market " righted " itself.

The only way out of this monetary crisis, is by backing the dollar with a tangible asset. By not doing so, only allows the Feds to continue at the printing press, printing worthless paper. While they pump mass quantities of dollars into the system, it devalues the dollar, and increases inflation. If something is not done to back the dollar, then Mises predictions were correct prior to his death....that hyperinflation would occur.



posted on Mar, 3 2011 @ 12:16 PM
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I agree the title is misleading, also china will never own us and will never invade, we're go to war with them before it gets to that point



posted on Mar, 3 2011 @ 12:17 PM
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And the world continues to go to $hit. What else is new?



posted on Mar, 3 2011 @ 12:19 PM
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Will Yuan Appreciate? Yes. Slowly.


www.topforexnews.com...


Will Yuan Appreciate? Yes. Slowly. Chinese yuanThe clash between the US and China over the freedom of the yuan’s movement continues. China indeed allowed its currency to appreciate but the US are obviously unpleased with pace of the appreciation and demand from China to let the yuan float more freely. Is the yuan really undervalued and will it appreciate in the future?

The US officials claim that China’s currency is below the level, which can be considered the fair market value, and is hurting the US economic recovery.

The US President Barack Obama stated: “What we’ve said to them is you need to let your currency rise”. He was supported by Timothy Geithner, the Treasury Secretary, who said: “The pace of appreciation has been too slow and the extent of appreciation too limited. We have to figure out ways to change behavior”. The opposite viewpoint expressed more often, not surprisingly, by the Chinese themselves.

Jiang Yu, a spokeswoman for the Foreign Ministry in Beijing, voiced the Chinese view on the situation in response to the US demands: The appreciation of the renminbi cannot solve the trade deficit with China” and can’t fix the US unemployment problem. Pressure cannot solve this issue, rather it may lead to the contrary.

Wen Jiabao, China’s Premier, claimed that the problems are in the US itself, not caused by China:
The main cause of the US trade deficit is not the exchange rate of the Chinese currency, but the structure of investment and savings. There’s a trade imbalance between the US and China, which is not something we want to see. China doesn’t pursue a trade surplus intentionally. More balanced opinion also exists: the fixed rate for the yuan isn’t the major reason for the US troubles but it has its influence.

The example of such opinion is the words of Mark Dow, the manager at the Pharo Management LLC:
I am sympathetic to the Chinese argument that the exchange rate doesn’t explain all the problems of the trade imbalance, but it contributes to the problems. Obama is becoming impatient. They are forced to be more vocal. Obama isn’t ready to expend his political capital to buy time for China to move its currency. So, will yuan appreciate further? Most certainly. Will the appreciation increase its pace? That’s more difficult to predict.

China is likely to continue its policy of slow advance of the yuan but, on the other hand, the US will continue to demand the faster appreciation. The demands had little success thus far but if the other countries would join the US demands, and this topic will be presented at the meeting of G-20 next month, the situation can change.

The political issues of China, like the territorial dispute between Japan and China, which intensified after the detention of the Chinese captain by Japan, may also play their role as the deteriorating relationship between China and other countries acts in the favor of the US. Most analysts think that the yuan retain its present trend, unless major change of the economic or political conditions would occur, and will appreciate about 2 percent over the next year.

We can expect that yuan will appreciate. Slowly.



China Takes Giant Step!



in 2007, many countries have started moving out of the Dollar as the basis for international trade settlements, including: * Japan * Syria * Iran * Libya * Russia * Argentina * Brazil * Venezuela and 12 other Latin American countries as well as Cuba * Many other countries


There you have it...the question becomes then when will Canada follow suit...if at all?



posted on Mar, 3 2011 @ 12:27 PM
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Originally posted by UFOIogy
I agree the title is misleading, also china will never own us and will never invade, we're go to war with them before it gets to that point

Do you really think a war against a country that has a billion more people than us is a good idea?
Also, it's funny how the people who oppose china, are the same ones touting democracy. If you really supported true democracy, china must be the most powerful/influential country seeing as they have the largest population. That's how democracy works, but you hypocrites really just want to keep your power, and don't really believe in democracy.
And china won't invade us cuz they aren't power hungry war mongerers like Americans are.
edit on 3-3-2011 by Ghost375 because: (no reason given)



posted on Mar, 3 2011 @ 01:03 PM
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Originally posted by Kargun
Wow this means nothing and I bet the dow rises tomorrow. Talk about spreading fear. Go hedge some money if you are scared. China needs oil. Guess what that is traded in. China holds a trillion of US foreign debt. I'm SOOOOOOOOOOO glad that when the dow hit 6500 I bought instead of selling like EVERY ats financial adviser would have had me do.

This site is good for ufo's but the WORST for making money in the market.


Day trader? financial "industry" paper pushing suit ?:"
Whats the opening price of strong braided hemp rope?
"Jump you f'krs"...
( I'm sorry: I'm still a little "miffed" massive fraud was buried in "derivatives" which were purposely written so the buyers would not understand them; the SEC watched it happen; and and Nobody has gone to jail from Goldman,either administration nor any other monster of wall street.


Russia, the world’s biggest energy supplier, wants to start selling oil to China in rubles, said Deputy Prime Minister Igor Sechin, who is also chairman of OAO Rosneft, Russia’s biggest oil company. Energy sales in rubles are a “strategic” issue for Russia, he said, adding that oil exports to China over the next 20 years will surpass $100 billion.

Brazil, Russia, India and China agreed yesterday to push for more clout in global financial institutions during what Medvedev called BRIC’s “historic” first summit in the Ural Mountains city of Yekaterinburg. China and Russia have called for a more diversified financial system to give emerging economies a bigger say in economic affairs, including the creation of alternatives to the U.S. dollar as a reserve currency.

‘Symbolic Value’

“Expanding the use of national currencies in mutual settlements is a separate, important task,” Medvedev said. China has the world’s biggest foreign-currency reserves, almost $2 trillion, while Russia is third with more than $400 billion.

The ruble weakened 0.1 percent to 31.2396 against the dollar in Moscow today after earlier strengthening as much as 0.4 percent. The yuan was little changed against the dollar on speculation China will prevent appreciation to avoid a prolonged slump in the nation’s exports.

It will take “at least a couple of years” to start converting the first contracts into domestic currencies, said Elina Ribakova, Citigroup Inc.’s chief economist in Moscow.

Today’s announcement has “important symbolic value,” she said. “If you take a 10- or 20-year perspective, trade between Russia and China will increase significantly.”

Total trade between the neighboring countries reached a record $56.8 billion last year, according to the Kremlin.

After today’s Moscow meeting, Russia and China signed an agreement worth $3 billion to cooperate in trade and investment in areas including light industries, high technology and energy.

U.S. Deficit

The dollar’s status has come into question as leaders of the BRIC nations consider substituting other assets for their dollar holdings amid a ballooning budget deficit that keeps the U.S. dependent on foreign financing. China alone owns about $744 billion of U.S. Treasury bonds among its $2 trillion of foreign- exchange reserves.

Russian central bank First Deputy Chairman Alexei Ulyukayev’s comment on June 10 that Russia may sell some of its U.S. bonds to buy International Monetary Fund notes helped push 10-year yields on Treasuries to the highest level since October.

Brazilian President Luiz Inacio Lula da Silva today denied that BRIC leaders discussed buying each other’s bonds at the Yekaterinburg summit, after Medvedev’s top economic adviser said the matter might be discussed.

Dollar bonds sold by China earned 11.4 percent in the past year, more than double the 4.6 percent for debt in yuan, JPMorgan Chase & Co. indexes show. Brazil’s U.S. currency bonds returned 3.6 percent as real-based notes lost 4.9 percent, and Russia’s dollar bonds outperformed with a 1.9 percent loss compared with a 7 percent drop in ruble debt. India doesn’t have dollar-denominated debt.

To contact the reporter on this story: Lyubov Pronina in Moscow at lpronina@bloomberg.net; Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Chris Kirkham at ckirkham@bloomberg.net





www.bloomberg.com...


edit on 3-3-2011 by 46ACE because: (no reason given)

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posted on Mar, 3 2011 @ 01:06 PM
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the issue is, hat china nearly exports half of its goods to the USA. in my opinion china wont drop the usa as the number one of chinese crap importer. if they do so, they must fear civil unrest, cuz of massive loss of jobs.

chinese ppl now r getting used to normal and wealthy life as we do, so they will be first who will bring forward complaints in a strong and harsh way. just these days the chinese goverment fears that the spark of freedom could irritate chinese global player plans.

>i am german, so excuse any grammar incompetence.



posted on Mar, 3 2011 @ 01:15 PM
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reply to post by Someone336
 


Nice post, you do a very good job of describing the reality of the situation.


This may be the necessary trial by fire for America to begin again with a clean economic state. Of course, I have a hard time believing that China will destroy countries that buy its exports. Just doesn't make sense, but what do I know.


China has no desire to destroy the U.S. economy, but it is easy to see how they might be all for destroying the power structure of the IC hegemony.

The U.S. work force will rise up out of this like a phoenix. If anything, the Chinese want to awaken the giant of U.S. industrial might, and make allies with it.

Notice it is the free market con artists who see China's rising wages as the end of the world.

This change has been written on the wall for some time. China has two choices, raise wages and develop domestic demand, or watch their economy self destruct. I have been pointing this out for some time now.

As the supply of good cheap labor dries up, the free market crowd sees the end of their gravy train, and they despair, as they well should, because this is the beginning of the end of the power hegemony of the ICs.

What I see more and more from the free market crowd is a hatred for the U.S.. They claim to be patriots, but when you point out that their beliefs are completely contrary to the intent of the U.S. constitution, they start getting ugly. The loyalty of the free market crowd really belongs to the ICs.

As world market forces tear apart the power base of the IC hegemony, and U.S. labor begins to gain traction once again, the free market IC crowd are going to get uglier and uglier.

We are a long ways from getting out of this mess, but the forces are in alignment, and change is beginning.



posted on Mar, 3 2011 @ 01:17 PM
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The government has seen this coming and to say they will just allow the USA to fall is stupid. They have a plan, They always have a plan.



posted on Mar, 3 2011 @ 01:21 PM
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I find it amusing the comparisons to Zimbabwe. I remember when that country was called Rhodesia and it was the most prosperous country in Africa. Gee I wonder what changed? Who runs that hellhole now? The same bunch that runs the US.



posted on Mar, 3 2011 @ 01:24 PM
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Originally posted by mickey2011
the issue is, hat china nearly exports half of its goods to the USA. in my opinion china wont drop the usa as the number one of chinese crap importer. if they do so, they must fear civil unrest, cuz of massive loss of jobs.

chinese ppl now r getting used to normal and wealthy life as we do, so they will be first who will bring forward complaints in a strong and harsh way. just these days the chinese goverment fears that the spark of freedom could irritate chinese global player plans.

>i am german, so excuse any grammar incompetence.<

"enshultigen bitte"?( sp?)



posted on Mar, 3 2011 @ 01:28 PM
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reply to post by spy66
 

the reserve at the current rate would last 2.05 yrs.
but could last long if the would unlock all the suppressed resources and technology out of the patients office.



posted on Mar, 3 2011 @ 01:33 PM
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reply to post by mnemeth1
 


So what I`m wondering is if hyperinflation happens in the US... what does this mean for other western countries?
Will any other western currencies start inflating? Canadian dollar? Euro?

Or is the consequence of the US dollar going to hell going to be pretty limited to the US?



posted on Mar, 3 2011 @ 01:54 PM
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reply to post by mnemeth1
 


This is just going to lead to isolationism and better US economy.

By all means, this is a good thing. When the Fed inevitably gets killed this decade, and american stuff made here is cheaper, the people will thrive.

Loe and behold, the dictators went and killed themselves again. This is nothing but a good thing.



posted on Mar, 3 2011 @ 02:11 PM
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reply to post by Gorman91
 





This is just going to lead to isolationism and better US economy.



BWAHAHAH!!! You honestly believe the actions of " isolationists " is better for the economy? Or did you mean individualists? If you meant the first, you have no clue. Isolationists are what we see today, implementing government intervention.

Laughable,...thanks for the good laugh!



posted on Mar, 3 2011 @ 02:14 PM
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reply to post by morder1
 


they are paying them off by sending giant bladders of fresh water to them...wonder why the great lakes are dropping thats is why.



posted on Mar, 3 2011 @ 02:15 PM
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reply to post by Monts
 


If the US dollar goes to hell the only countries that wouldn't be TOO hurt by it would be the ones that dumped all their US dollar debts for some other currency BEFORE the US dollar hyper-inflated. Other than that yeah, pretty much every developed country would be deeply hurt by its devaluation. That is why Russia is so serious about its talks with China about dropping the dollar for energy exchange and moving to a new store of value.

FYI - IF the SHTF in the US, as in government collapse, market collapse, this would become the most dangerous place to be on earth. There are more guns, ammunition, explosives and other weapons owned by private americans than the private citizens of ANY other country, probably of ALL of Eastern and Western Europe combined. And you know Canada and Mexico will ally with us immediately if SHTF globally for safety so either way you look at it, the US is still probably the best place to be right now. Remember, the US also has some of the largest untapped natural resources on the planet (not just oil). If we could get oil and timber from Canada and prescious metals and stones from Mexico, then the three nations would be on top of the rest of the world.

Sorry, just a rant on possble scenarios.


But again no, if the dollar goes down the hole, so does the global economy that we currently have. IMO that is why Russia and China and several others are rushing to dump the dollar, because they know we are going to default on our debts whenever the oppurtunity presents itself. It is truly the only real thing left to do that makes sense. We owe Japan WAY more than we owe china, so my prediction is when Japan collapses the US will default its global debt. In case no one has noticed, the US is now moving back towards isolationsim like we were before WWI. This could be exactly what we need to get back on our feet. Lets hope that ole hope and change Obumbo is not gonna screw it up...again.



posted on Mar, 3 2011 @ 02:35 PM
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reply to post by Whereweheaded
 


I have to disagree with you.

America's economic decline began in the progressive era with the market-reforms of Woodrow Wilson. He replaced the American School of Economics, which had been this country's financial bread and butter for many years at that point. His so-called "New Freedom" was masqueraded as a method to encourage competition between small businesses by protecting them from large, monopolistic financial entities. Strangely enough, his method was to begin removing the protectionist policies of his predecessors, cut tariffs in half, and replace the National Bank with the corporate-driven Federal Reserve. Keep in mind that the Federal Reserve was not the first central bank in America (central banking dated back to 1791, with the First Bank of the United States. The Federal Reserve, however, was the first central bank to be more aligned with capitalist interests than Washington)

This was the first step in a long process of transferring America into the global economy. Even the so-called New Deal refused to return to the tariff-based system, opting instead for corporate subsidy by taxpayer dollars. Of course, much like the bail-outs of today, subsidies mostly went not to small, independent business but to large firms, who either were connected to war efforts or were tied to the FDR through his cooperation with the Wall Street cartels.

We continued to abandon protectionism (while embracing other elements of Keynesian economics) under Richard Nixon, who cut down the tariffs to their lowest point in history, as well as cutting down on the New Deal era's subsidies. He removed us from the gold standard in a bid to maintain the US dollar as the global reserve currency (with drastic impacts lasting today), combat inflation, and as a result bloated the power of the Federal Reserve.

Nixon's half-hearted dips into Keynesian economics to curb the problems brought on by opening the US to international trade were eventually stripped by each following president, except Reagan, who saw fit to slap a tariff on Japanese imports in the 1980s.

The final nail in the coffin? NAFTA. Now our jobs are a commodity to exported to other countries, where oppressed workers can toil in horrific conditions so large financial firms can save on paying employees.

Clearly, protectionism, not unmitigated free trade, is the most ideal method for a country to keep themselves out of financial disaster.



posted on Mar, 3 2011 @ 02:49 PM
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Originally posted by Amaterasu
Hyperinflation here we come!

Ah, I have seen it on the horizon a long while now. Let's get rid of money! Here's how:

www.abovetopsecret.com...
edit on 3/2/2011 by Amaterasu because: typo
Get rid of money? The guy down the street with the cart and blankets did that already. Ask him how well it went You may have to speak loudly because he lost his hearing due to not being able to afford medical insurance. And he does not speak good english either because he couldn't afford a decent education. Good luck learning anything from him. It's easy enough to just watch.

If they pass a carbon tax on top of every other bad idea i may have to 'move in' with the guy down the street. I wonder how well that will go? Just based on casual observations I am not optimistic.
edit on 3-3-2011 by jonnywhite because: (no reason given)



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