China Announces It Is About To Blast America Into Zimbabwe

china signed a deal with russia for its oil and natural gas
NOT in DOLLARS
china will be blasting the us to into a zimbobway sized economy
acurate title

the Us is fried
mainly because most of the population are inacapable of dealing with reality

Originally posted by BigJoninTexas
The best answer to solve this problem is to become a wolf. We are sheep. We let everything tell us to buy into this and buy into that; however, nothing that we buy in our local stores, departments, etc., sells anything from the U.S. Check your labels every time you purchase anything. You will be surprised to find out that no major retail store sells practically anything that comes from America. You have to google made in the USA to find our products. It's pretty sad to learn that no American stores carry products made here, but you can find them on the internet. Become a wolf and buy American. Everytime you do it provides someone here with a job. The more jobs we have the more we can pay our deficits. Imagine if we produced so much that other countries would buy our products and import our products we would once again become the economic giants of the 50s. We don't need their stuff, we have the capacity to produce everything we need here, and trust me it doesn't cost that much more. In fact, sometimes it costs less. Hardly any major brand companies manufacture here. Wake up! Become a wolf like me. Are you ready?

CIA? Nobody wants to work anymore, take your job and shove it up your a$$

I worry about the value of the dollar and what has been going on with China too but this post is fear mongering if you ask me. There are too many people who want you to think that Hell is around the corner.

China is not the only threat to the US dollar, as the following article points out....

Middle East revolutions and the fate of the petrodollar

Other threats to the petrodollar abound. Besides Iran, Russia has emerged as a major energy trader, vaulting its oil reserves and access to Central Asia’s fabulous gas fields into political influence. Russia has quietly worked on the sidelines to undermine the exclusiveness of the petrodollar and shift to a basket of currencies for oil trading. The EU for its part has tried to convert the euro into the world’s reserve currency for oil trading, only to be stymied by the US. In addition, Brazil, Russia India, and China (BRIC) are creating an alternative trading block to the EU, one capable of promoting another reserve currency. All of these “big four” developing countries are significant players in the world’s emerging energy routes.

Significant competition, to be sure, but has the US game plan for defending the petrodollar’s role been at the world’s energy-economic nexus? Given the fact that Peak Oil is widely believed to have already hit Saudi Arabia and other oil producing states, the US is racing against time to cement over its feet of clay by expanding into the Central Asian gas fields. Originally, the race was determined by US’s ability to construct the TAPI gas pipeline across Afghanistan, Pakistan and India, before the Middle Eastern Oil fields became quiescent. The gas fields of Kazakhstan and Azerbaijan are earmarked as the substitute for Arabian and Persian Gulf energy. However, the cost of destabilizing Pakistan and Afghanistan and subjugating populations along the pipeline route has proved rather steep.

Not withstanding the US media’s broadcasted epiphany of American power “waking up” to the democracy as an inalienable right of the Arabs, the recent developments are hardly good news for US economic survival. The fact that black crude underwrites the free-floating US economy makes clear that any disturbance to the global oil geography signifies an existential threat for American empire. We can track White House reactions to sound out the scale of the crisis. While the Tunisian Revolution evoked Obama’s noble sloganeering, Egypt began to splotch his pristine white shirts with sweat. The Suez Canal after all, is still the heartline of the global oil transit system. Bahrain, a major oil producer and a strategic piece of real estate at the mouth of the Persian Gulf, began to elicit stammering from the White House Press Secretary. Libya, the largest oil producer in Africa, has accelerated this palsy into a terse silence, occasionally broken by irrelevant comments about the need to “stop violence.”

The US’s refusal to take the military option itself in the current revolutions is perhaps an overt sign of empire’s critical weakness. Before, the US unhesitatingly played the military card at the slightest hint of a threat to its Middle Eastern oil properties. After all, the Iraq War was sparked by Saddam Hussein’s decision in 2000, to switch to the euro as Iraq’s energy trading currency. George Bush’s triumphal mandate for war contrasts with the wavering and indecision demonstrated by the Obama White House caught between its rhetoric and the material need to dominate a geography that has bankrolled its extravagant prosperity over the past six decades. US power is over-stretched, trembling on the verge of implosion, and the political leaders know it too.

The practice of dangling democracy before the Arab world as both a reprimand and a fantasy yanked out of reach by US-funded dictators has paid back a somber coin. The revolutions came at the worst possible time for empire, when a diversifying energy landscape is threatening the US’s role as prime energy controller and by extension, the very financial system guaranteeing the Almighty Dollar. And then the bill for its $14.13 trillion dollar deficit will finally be stamped and addressed to a US that is already taking stock of its derelict house.

usa.mediamonitors.net...

Originally posted by Skerrako
reply to post by AeonStorm

 

That makes all of their goods more expensive for us to buy. That will have a detrimental effect on our economy.

I know this is ATS and you'll have to take my word on this: I have a minor in Economics and still in school, so I study this fairly regularly

Well duh, their currency appreciating makes their goods more expensive.

But we only buy Chinese goods in the US because they are the cheapest, and we buy the cheapest because everyone is getting squeezed...wages are flat and employment has steadily declined...both of which makes getting the cheapest stuff possible aka reducing expenses to be extremely important...so the more jobs that leave for China, the more the US consumer has to buy things made in China. It reinforces itself, eh?

REally though, if the Chinese currency appreciates, China is in big trouble.

China is obviously on the look out for 'the right time' to pull the rip cord on letting the Yuan really float...

They have several big problems about making this happen though.

Their emerging middle class is basically the size of France's...big but not huge, especially compared to the size of the country. Also, they make far less than what would be 'middle class' in the US (or France) even after appreciation on the magnitude you're talking about. Thus, they can't consume enough to offset exports to the US and the EU...oh yeah, don't forget that if the Yuan floats it would go up against the Euro too.

They know they can't replace the US and Eu with their own internal consumption just by letting the Yuan appreciate.Their own consumer sector is just way too small. Their poorest poor are truly dirt poor and number in the hundreds of millions. They can't keep them employed just with internal consumption.

Some people thought they were ready to do this in the infamous fall of 2008 and they were just wrong. China can't really do it anytime soon or they would have done it then.

Thus, the fear is justified that allowing the currency to appreciate to reflect market realities would destroy a lot of the employment which they rely on to keep their country stable. That's the reason they have been so aggressive about their foray into a sort of 20th-21st century mercantilism to begin with.

They'll continue to keep themselves pegged under the US (and thus under the EU and Japan as well, practically). They will have to do it for a loooooong time. Think more like 2050. But that's so far away that you should leave it in a category of 'beyond the foreseeable future.' The US + EU + Japan consumer sectors is just way too huge for them to replace anytime soon.

Even without the employment issue...

one point in favor of them doing it would be that it would make raw materials purchases for their manufacturing CHEAPER. Thus, while they'd lose big on labor costs, they'd offset it somewhat with materials costs. China pays more for inputs than anybody. Imported food would also be cheaper. China doesn't really have a problem supplying itself with its own basic food requirements, but they are starting to really get into importing things that they don't grow in China. What they do import a lot of though when it comes to agriculture is fertilizers, stuff like potash.

Another point against it is that a huge chunk of their 'foreign reserves' built up from their trade surpluses are in US dollars in one way or another (actual dollars, US treasuries, etc). So when the Yuan goes up against the dollar, it's not a one sided win for them. They'd devalue a lot of their current account surplus.

As for the US...we're getting a 'great deal' on Chinese goods thanks to the Yuan semi-peg. But it has KILLED US employment. Most people would be better off paying more because they'd be making more.

Ever tried to figure out where unemployment in the US is really at?

Did you notice that 500,000 more workers were considered 'not part of the labor force' in January, and thus removed from the unemployment tally?

The US labor force is now less than half of working age adults.

If you try to account for the ones that are housewives and thus truly 'not part of the labor force' in the way that the statistic was originally intended to work...then it's still basicly 40%-45% of working age adults are now 'not part of the work force' rather than unemployed.

The truth is, we really don't need them, and they need us badly or they can't maximize their employment.

US firms definitely could compete with the Chinese on a PRICE basis....but not on a PROFIT basis. Labor costs and materials costs are a small fraction of the PRICE you pay...but the lowest labor costs and lowest input prices mean the biggest PROFITS. So who are the real winners? The people who own the firms with the big profits.

But just to prove it's possible...look at New Balance. They are a private company and the only mass market shoe maker left that is committed to making shoes in the US.The market pricing is competitive, and they still make profits. They just don't make the kind of profits that all the other major shoe makers make by having little East Asian kids make the shoes for a nickel.

yes the US supports the revolt..
according to the patriot act US constitutionalists are terrorists and they can only speak from free speech zones...
while george "the ecomomy crasher" soros funds the revolution that is crashing the US economy....

go figure

I never realized other countries use the same .gov we see here in the U.S. Possibly a small insignificant observation but to me its just wierd.

I recently realized that in Islam the year isn't 2011 its 1490 or somthing. You would think if China is so powerful they would have their own .com system within the broader Intraweb system.

I also see this problem with the keeping religion out of schools and public biuldings.. You can't have a flag or anything involving religion, yet they use a time system based around a biblical character. How can it be the year 2011 if your not suppose to be teaching religion in schools?

The US Government has had the opportunity for the Asian dynasties to support the dollar for 1 year now, however, they have insisted that they can do it without the support of the Asian Dynasties who have backed currencies for 200 years.

Originally posted by mnemeth1
In layman's terms, China is going to let its currency appreciate.

This means Wal Mart prices are going to look like shopping at Neiman Marcus.

The Federal Reserve and our criminal congress have destroyed the dollar's value, and now countries around the world are going to cease using it.

First, you blame the Federal Reserve for killing the dollar, and then you show us an article that blames China?

Could you clear this up?

Hoooooo-EEEEE!! looks like the states are about to have a pretty rough hangover, waking up from a dream after too long can never be a good feeling. I'm glad i live in the great white north (although i'm still worried, lol)

Originally posted by mrjones7885

Originally posted by BigJoninTexas

CIA? Nobody wants to work anymore, take your job and shove it up your a$$

I dunno 'bout being Lazy but Wall St are only interested in Buying and Selling Debts.
There's no money in making stuff anymore. So what are you left with.

The other way to look at this is if the Chinese currency is worth too much, perhaps manufacturing will come back to the US.

In the 1950s we were a manufacturing giant. Made in the USA was a symbol for quality.

Perhaps some of those jobs will be returning.

Originally posted by Ancient Champion
reply to post by smurfy

 

Just like the toys that had lead in them? Yeah great products.

That's is exactly what I meant if you read my post, I didn't mention great, I said they were well built. Their methods of production are no longer allowed in the west because of industrial pollution and toxic waste, and there is no point in cribbing about that because it is about a better way to do things, so it is more expensive to produce in the west, and should be cleaner. So you pays your money and takes your choice, but it still has to work. No surprise then, that so many US patents are franchised in China and elsewhere, corporate greed for building nothing, and not exclusive to the US. To add, since you mention lead, see this link,

www.nytimes.com...

The use of lead is not confined to China as you will see.

Originally posted by Wildbob77
The other way to look at this is if the Chinese currency is worth too much, perhaps manufacturing will come back to the US.

In the 1950s we were a manufacturing giant. Made in the USA was a symbol for quality.

Perhaps some of those jobs will be returning.

The secret to Sucess is Failure

The cost of Making Goods in China will gradually increase as workers want more.
It's Innevitable.

As long as another Country has People willing to do something for less, then change will Occur. At this point in time, the only choice the USSA has, is to a Invent a Technology nobody else has and wants or work for $2 a day making stuff. And I can't see either of those happening any time soon.

Start stocking food and investing in precious metals, their value won't depreciate during this time and will probably go up even more. Also, I've been hearing about new local currencies that are popping up to replace the U.S. dollar. Pretty interesting.

Originally posted by Ancient Champion
reply to post by smurfy

 

Just like the toys that had lead in them? Yeah great products.

Part 2,
You will also see from the link in my last post that a lot of that lead is from scrap metal. Where does a lot of that come from? Yup, the good old U S of A. About time to be talking to your local senator I should think. I'll be asking questions too.

There is a lot of speculation and ignorance on this thread. I couldn't stand going through all 8 pages (which I will once I finish typing this)...

Everyone is so fearful of China and most have no confidence in America even though we do manufacture a great deal of goods here! They are of higher quality and because of that more expensive, BUT SAVE YOUR MONEY and this means nothing. We also are one of the biggest countries landwise (horizontally)... Since we have more horizontal space instead of vertical we can produce an abundance of crops in mass quantities in many states. China also has this advantage, but is nowhere near the producer we are in big ag.

What should be discussed here is the Fed buying up bonds for pennies on the dollar. Hundreds of BILLIONS worth of them...with y/our money

Anyone picking up what I'm putting down?....The "villain" lies on our own soil not across the ocean.

Originally posted by iltsbas
Start stocking food and investing in precious metals, their value won't depreciate during this time and will probably go up even more. Also, I've been hearing about new local currencies that are popping up to replace the U.S. dollar. Pretty interesting.

Actually it's another conjob

the FED is begining to realise time is coming to an end, so those SAME Banksters want to make a Global version of the FED, with a Global Currancy. And who owns, controls this Global Bank, NO I can't bring myself to say it.

These Banksters will do anything to ensure China does not hold the World Currency.

Originally posted by donatellanator
There is a lot of speculation and ignorance on this thread. I couldn't stand going through all 8 pages (which I will once I finish typing this)...

Everyone is so fearful of China and most have no confidence in America even though we do manufacture a great deal of goods here! They are of higher quality and because of that more expensive, BUT SAVE YOUR MONEY and this means nothing. We also are one of the biggest countries landwise (horizontally)... Since we have more horizontal space instead of vertical we can produce an abundance of crops in mass quantities in many states. China also has this advantage, but is nowhere near the producer we are in big ag.

What should be discussed here is the Fed buying up bonds for pennies on the dollar. Hundreds of BILLIONS worth of them...with y/our money

Anyone picking up what I'm putting down?....The "villain" lies on our own soil not across the ocean.

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

On same same page as you, there is tons of B.S. being spewed out on this thread. Jealousy, anger, frustration, envy are some of the emotions many of us are facing right now but we should be directing our energy torward our own government.

Something that I'm commonly hearing is that once the RMB is less restricted, U.S. regulations will get better and manufacturing will move back to the U.S. and all will be splendid. Guys it isn't that easy, there are still people in power that want to do us HARM.

Stop blaming other people and root out the negativity first.

I think this is a good post, but perhaps a bit misleading and VERY over hyped. Of course China wants to strengthen it's own currency in the worldwide markets and by taken the steps stated in the article, it will make it that much easier to do so. With that said, the dollar for now is still the reserve currency for buying commodities around the world (i.e oil). Until that changes the dollar will continue it's reign at the top.

Other countries around the world have to buy US currency in order to import raw goods such as crude. The main benefit the US currently holds is that we can produce money put of thin air. It is only a matter of time before the world says no to this practice. In the meantime, these micro conflicts around the middle east and Africa are actually strengthing the Dollar as the reserve currency. For example the stop in flow of crude in Europe is weaking the Euro. Does anyone else think this is not planned? Cheap oil is the only keeping everything together domestically and abroad.