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It’s Official: China Will Be Dumping US Dollars

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posted on Apr, 21 2011 @ 04:09 PM
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In politician speak, this is a clear, “we are sick of the US Dollar and will be taking steps to lower our holdings.” Remember, the US Dollar is China’s largest single holding. And China has already begun dumping Treasuries (US Debt).

This comes on the heels of China deciding (along with Russia) to trade in their own currencies, NOT the US Dollar. Not to mention the numerous warnings Chinese politicians have been issuing to the US over the last 24 months.

In simple terms, China is done playing nice and is now actively moving out of US Dollar denominated assets. This is the beginning of the US Dollar’s end as world reserve currency.


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The US is one of China's biggest consumer. China has taken our jobs, manufacturing companies, business, and now they want to dump the dollar. So much for an economic recovery.




posted on Apr, 21 2011 @ 04:13 PM
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I wish china good luck with that.

Maybe we'll get some factory jobs back here in the usa.
After all the US companies leave there because the cost of business is too high.



posted on Apr, 21 2011 @ 04:16 PM
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the big old guy always has its time! time for a new fresh man in charge!!

wonder what consequences this will have world wide, or local in usa. is this the start of what is often said in the global meltdown section as the collapse of the us doller?? and SHTF for the americans?



posted on Apr, 21 2011 @ 04:16 PM
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Originally posted by ambient moon



In politician speak, this is a clear, “we are sick of the US Dollar and will be taking steps to lower our holdings.” Remember, the US Dollar is China’s largest single holding. And China has already begun dumping Treasuries (US Debt).

This comes on the heels of China deciding (along with Russia) to trade in their own currencies, NOT the US Dollar. Not to mention the numerous warnings Chinese politicians have been issuing to the US over the last 24 months.

In simple terms, China is done playing nice and is now actively moving out of US Dollar denominated assets. This is the beginning of the US Dollar’s end as world reserve currency.


Link

The US is one of China's biggest consumer. China has taken our jobs, manufacturing companies, business, and now they want to dump the dollar. So much for an economic recovery.


China has beaten you without a single shot being fired.

This is how wars will be fought in future times. Just Feck up another country's economy and watch it the chaos ensue.



posted on Apr, 21 2011 @ 04:17 PM
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reply to post by grey580
 


The have to buy oil in us dollars so unless they change that, nothing will happen. Pure speculation OP.



posted on Apr, 21 2011 @ 04:19 PM
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Originally posted by grey580
I wish china good luck with that.

Maybe we'll get some factory jobs back here in the usa.
After all the US companies leave there because the cost of business is too high.


It doesn't matter.

The US makes it impossible for business to flourish by design.

It will still be cost effective to remain outside the US instead of bowing to Govt. greed in the US.



posted on Apr, 21 2011 @ 04:20 PM
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reply to post by KoolerKing
 


as far as i know china has done a deal to buy oil from russia! altho im not sure what percentage of their total needs it will take up but they seem to be moving away from us in my eyes.



posted on Apr, 21 2011 @ 04:21 PM
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If you actually read the article the OP linked, it just turns into an advertisement for investment advice.

Speculative "doom and gloom" articles get a lot more attention (clicks) than the "actually, things won't change much" ones.



posted on Apr, 21 2011 @ 04:22 PM
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This is pretty scary, but expected news.
I need to get out of the US. !



posted on Apr, 21 2011 @ 04:22 PM
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reply to post by grey580
 


too bad they've left everything to degrade so badly here though....
skilled laborers....lol....ummm...ya, beginning to think the reason they keep going after social security like they do is that they are finding out that they need those skilled laborers and well, what's left of them are about to retire!!
factories?? equipment......
heck, where I grew up there were tons of apple orchards all over the place, and, well, the factories to process those apples into whatever.....now, the one juice company that is left is rewarded by our gov't for buying their apple concentrate from some place overseas....
the orchards have basically been left to fend for themselves, or well, the land was sold off.....

the company I work for now, was at one time, huge, consisting of several building. the building across the street from us (also huge) used to manufacture the cotton cloth that they used to make clothing, and well, screen printing, ect....
well, we are all that is left...one small little shop of maybe 35 employees, importing our felt from overseas, and printing pennants and banners for the country's colleges. there's only a few other companies (outside of the small screenprinting companies) that are doing any textile work, and they really aren't doing that much....
it's all gone!!!
ya, outsourcing was just grand for us!!!



posted on Apr, 21 2011 @ 04:47 PM
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Regardless of the current state of the USD, no country can afford to " drop it ". To many assets are backed by the US dollar. For example, oil. Though China grouped with Russia for the oil pipeline in that region, where do you think Russia gets there oil?

Just misinformation and fear mongering.



posted on Apr, 21 2011 @ 04:47 PM
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reply to post by ambient moon
 


In all seriousness though, I wouldn't worry so much.

China, Russia and India will be setting up call centres in the U.S and U.K and we will be answering calls or cold calling to these countries.

Of course we will have to change our phone names to Vladimar, Sachin and Xiao, but hey ho.



posted on Apr, 21 2011 @ 04:48 PM
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Well America should stop giving its wealth to China.



posted on Apr, 21 2011 @ 04:55 PM
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Be prepared to say goodby to the US dollars as a reserve currency.
This is one of more steps to downgrade dollar.



posted on Apr, 21 2011 @ 05:14 PM
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Originally posted by TheRealm
Regardless of the current state of the USD, no country can afford to " drop it ". To many assets are backed by the US dollar. For example, oil. Though China grouped with Russia for the oil pipeline in that region, where do you think Russia gets there oil?

Just misinformation and fear mongering.


Thank God the new guy dropped in to school everyone on global finance.


Your example regarding oil is only in play for a short time. Each country that has determined to trade oil in a currency other than FRNs has either been invaded or is on the short list to do so. The only thing propping up the "dollar" is the US Military. Nobody is going to scramble to dump their dollar holdings since it will affect their national economy.

The FRN is being phased out and make no mistake that it will become the valueless paper that it is now.

The global chess board is quite a bit more complicated than you seem to realize which doesn't allow for a statement such as "Just misinformation and fear mongering" to be taken seriously by anyone other than those who haven't sat back and watched the game as it has unfolded.



posted on Apr, 21 2011 @ 05:14 PM
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Originally posted by KoolerKing
reply to post by grey580
 


The have to buy oil in us dollars so unless they change that, nothing will happen. Pure speculation OP.


they can buy oil with jelly beans if the seller takes em ..... the USD is not the only currency. Its whatever works for the moment.



posted on Apr, 21 2011 @ 05:37 PM
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reply to post by svpwizard
 


Dude please do your homework. Oil is bought only in US DOLLARS. Not gold or silver or credits. We set it up that way for a reason. The U.S will not allow other countries to use any currency other than dollars. Do some research and come back to the thread.



posted on Apr, 21 2011 @ 05:46 PM
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reply to post by KoolerKing
 


That's the reason you have been able to sell it at such a low rate, until now. China owns you, and you have to acknowledge this.

We did when you owned us.



posted on Apr, 21 2011 @ 05:46 PM
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Though I believe that China selling its holdings of fake paper money is very serious, they are not nearly the biggest holders of US debt, not even close. Americans hold almost all of the US debt. Japan owns almost as much US debt as China does.

Some people make it seem like China owns 90% of our debt or something, and that's just not true from what I know. They own less than 10%. It's like 8% IRRC.

I'm just an armchair spectator here, certainly not an expert. Please feel free to point it out if you believe my statement to be wrong.



posted on Apr, 21 2011 @ 07:57 PM
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Great I hope they do. Let's slap a 50% tariff on all of their cheap junk. Let's see how long their export economy survives. Unfortunately I suspect they are doing this at the order of the elites who cut this Ponzi scheme deal back in the 1970s.




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