Originally posted by threewisemonkeys
reply to post by LittleBlackEagle
As pointed out, it's been speculation for quite some time. Was it Subramanian and Kessler in The Economist who speculated that the Yuan would have
overtaken the USD by 2035 or there abouts? Perhaps that time frame is a little too long for the Chinese, and switching to a gold standard may speed up
the process, and the demise of the US as a superpower. America, a broke homeless sichophant selling nukes to third world countries in order to scrape
together enough spare change to buy a loaf of bread from a chinaman. Would be quite funny really.
edit on 24-1-2013 by threewisemonkeys because: (no reason given)
Please bare with me I'm on my phone so I can't link sources or spell check.
How would they do it? Raise the value of the yean to astronomical levels? ...........yeah right.
What makes you people think that they would invest OVER A TRILLION hard earned dollars in United States
bonds just to kill its aconomy and throw all their money away? .....yeah right.
And lets put this into perspective. How many ounces of gold China has times how many yaun each ounce is worth and you get .A. you take how many yaun
China has in circulation lets call it .B. so you would take .A. and devide it by .B. then you would take that number and see the value of their
currency backed by gold. Im guessing it would be quite a low number so what they would have to do would be to inflate the value of their currency to
bring it up to par with the dollar then eventually surpassing the dollar.
Seriously guys take a minute and do the math and really think about it.
If any of you buy the fact that China is even THINKING about attempting this then I got some ocean front property in Arizona I'll sell you reeaal