Breaking news from China's ZGC Focus economics - Dollar is dead?

reply to post by lucentenigma

Interesting fact that on September 9th the amount of SDRs increased by almost 1500%.

That could have a lot to do with this billDemocrats in the U.S. Congress have reached a deal to boost support to the International Monetary Fund, lawmakers' aides said on Tuesday... the funding measure will provide a $100 billion credit line to the IMF

thanks Sliadon, made that much clearer , i just dont understand how that process would go through with all the chaos that could be going on in that time

if a civil war does break out and the banks start dropping like flies, i cant see why it would be a good idea.

But until then, ill keep myself debt free

Originally posted by SenorChili
ATS

Would it be wise to max out my credit cards and just start buying everything I need?

with the coming collapse of the dollar, would any debt would be completely erased and lost ?

I was wondering the same thing... but i guess if everyone did this it would be anarchy.

reply to post by SenorChili


Not a problem man

I'd like to think that this will become nothing, but I am watching it closely along with a handful of other international issues trying to figure out if I need to get prepared also.

With all the banks collapsing, now THAT would be a scary situation. There would be martial law declared in every nation to keep control of the situation. Imagine a Stock Market collapse on a global scale but add in modern MSM and increased stakes nations hold around the world.


-Sliadon

Originally posted by johnwayne
Fake, the first guy was talking about some home baked deserts and making some at home. Second guy talked about nothing about what video subtitle said.

Yes I speak fluent mandarin chinese.

[edit on 26-9-2009 by johnwayne]

ni hao?

I am going to try to email one of my old vendors and see if they can translate.

Only thing it's around 2 in the morning over there in Guangdong.

[edit on 26-9-2009 by lucentenigma]

reply to post by Sliadon


For me it's the best time to run up credit card debts. If you want to try it too just make sure you meet the following criteria.

1. You live in a country with a welfare system that will keep a roof over your head if you get made redundant (for me that's the UK).

2. You live in rented accommodation.

3. You live in a country where you cannot be imprisoned for owing money.

4. You have no dependants.

Since June of 2007 just before Gold rocketed and northern rock hit the fans I have been exclusively using my credit cards. I saw it coming. I'm out of work due to disability with over £35,000 in credit card limits, and the limits keep going up! whats that all about? One card is up to £11,000.

So when my minimum payments can no longer be met by my bank balance I will inform them that I have no money, they can garnishee £2.40 a week and stuff the rest.

Don't try this at home folks, unless you know the system. Revenge is sweet and best served cold!

SDR proposal helped rebuff China critics -Zhou

Zhou proposed an overhaul of the global monetary system, outlining how the dollar could eventually be replaced as the world's main reserve currency by Special Drawing Rights (SDR), the International Monetary Fund's unit of account.

www.forbes.com...

Rich nations give India and China more sway in IMF

www.theglobeandmail.com...

New world economic order takes shape at G20

www.reuters.com...

Originally posted by really
This may or may not be true (obviously). We should also keep in mind that this is Chinese National Television. Why do you think they'd be more honest than our MSM? Just something to keep in mind.

I would not use the term 'honesty' or 'integrity' in the same sentence as 'U.S. mainstream media'. The terms are mutually exclusive.

What I know for sure is that you don't openly rob the treasury of a country that will remain a viable governing entity. The coming destruction of the currency is just another building block to the plan for the destruction of the US.

reply to post by lucentenigma


Yea I sent it to my buddy in Guangzhou as well, hopefully get a reply later tonight

reply to post by sharps


I don't mean to derail this but I have to say it....

Not to sound like a D*ck, but you are the reason people are paying more! To take care of your damn DEBT. Granted I (we) have to pay back the Governments Debt, I don't want to take care of yours to.

I know your in the UK, but come on.



[edit on 26-9-2009 by TrainDispatcher]

The sdr is not only a type of reserve note it is a weighted scale. You could say that currency will be SDR backed.

Instead of common forex statements such as Euro is trading at 1.50 US, you would say that the Euro has a SDR value of 1 and the USD has SDR value of .75 etc. Pardon my estimation lol.

The SDR will be a requirement. No international selling or buying with a member nation unless you are from a member nation. And most countries make their money by trading with would be member nations.

Both good and bad at the same time. Bad for the USD, no doubt, but good on real producers with undervalued currency. Especially good for intellectual property / piracy etc. Countries like China will lose value based on intellectual theft etc. There will be "global financial constitution/guiding principles/ethics laws" in place as part of signing on. Much like the WTO has.

Global financial cops. Bad and good, depending which side of the fence you are on at any given time.

reply to post by DevilJin


I have been lurking for quite a while but just registered because I saw this thread though Mandarin is not my mother language but I understand it. The video is just about some Chinese official visiting a village in China. It has nothing to do with G20 or anything of that kind.


And I found another link, the person who uploaded the video has admitted it was actually an April Fool's joke.

www.youtube.com...

Originally posted by LovePeaceFreedom
reply to post by DevilJin

 

I have been lurking for quite a while but just registered because I saw this thread though Mandarin is not my mother language but I understand it. The video is just about some Chinese official visiting a village in China. It has nothing to do with G20 or anything of that kind.


And I found another link, the person who uploaded the video has admitted it was actually an April Fool's joke.

www.youtube.com...

Your comment is very similar to a comment on the page you linked.

I speak Chinese. The video has nothing to do with what the title nor the caption indicates. The video was in fact about a visit of a Chinese official to a local village. It is not at all about the G20. Makes me wonder if the maker of the video made an innocent mistake or was the mishap intentional.

csquare319 (3 months ago) Sh

Youtube Link

So this could be correct or your parroting a comment on the youtube page, just sayin....

An interesting article in the WSJ puts this in perspective.

The IMF had said Wednesday that China agreed to purchase approximately $50 billion worth of bonds denominated in Special Drawing Rights, a fund-raising effort that is part of a broader push to bolster the IMF's resources. Brazil and Russia have also said they each intend to buy as much as $10 billion of bonds from the IMF, which hasn't issued debt before.

online.wsj.com...

Here, the IMF is issuing credit, like a bank. And the credit is in SDR's

The SDR is strictly electronic money, opening the gate for the chip and global currency, global rule.

The dollar is going to tank, so the US will be forced into accepting the SDR,
at a greatly reduced rate, putting the US further into debt.

No choice, no freedom.

Edit to add:

The crazy this is, guess where the IMF is headquartered.

Headquarters:
International Monetary Fund
700 19th Street, N.W.
Washington, D.C. 20431

In the District of Columbia, a separate entity from the UNITED STATES of America.

The people have lost all sovereignty.

[edit on 26-9-2009 by kingswillquiver]

Im calling hogwash aswell.Things like this take years to change,not in a few days,plus as far as i can see there is absolute no evidence for any of these assumptions.No doubt the dollar will be replaced as a reserve currency in the future.

Brits using SDR's as a currency within a few days what nonsense.

[edit on 26-9-2009 by Solomons]

reply to post by Solomons


hey sol
it's unfortunate that you think so but if you read my other posts in this thread which link to articles discussing this then you will see that it is not "far fetched".

The IMF has accepted China and India amongst others into the big boys club and there is serious discussion and a drive, to change the principal reserve currency to something else completely.

Do some reading and don't fall for the idiots posting that he is discussing food or whatnot.

An educated mind is a dangerous mind.

reply to post by SenorChili


Sure, go ahead. If you believe everything on ATS, the world is coming to an end in 2012, so may as well get as many loans and credit cards as you can.

Heres a babel fish translation of a popular chinese news website from today

President of China Hu Jintao on 25th warns the US, takes the world main reserve currency release country, when implements the domestic currency policy, should consider and be balanced it to our country economy and the world economics influence, maintains the international money market to be stable. This is following Chinese Premier Wen Jiabao in many public occasions, has after China the large amount US dollar property indicates worried, the Chinese supreme leaders once again express his concern. Attends G20 finance summit's Chinese Ministry of Foreign Affairs Vice-minister He Yafei along with Hu Jintao in Pittsburgh, when makes the explanation to Hu Jintao's conversation indicated that China worried the main reserve currency fluctuation can affect the economic growth, nibbles China foreign exchange assets the value. He Yafei pointed out that China to reserve currency stable worrying is very really. In recent years, China's foreign exchange reserve grew day by day, including many US dollar valuation properties. He indicated: “we worry these currencies the fluctuation, because this has the immediate influence to our property's value.” Hu Jintao on 25th makes the speech at the G20 summit, and appealed that various countries maintain the stimulation economical plan dynamics. He simultaneously appealed that the steadfast advancement international finance system reform, opposes and resists the multiform protectionism firmly. “the Wall Street Journal” pointed out that Hu Jintao about penetrates the enhancement domestic demand, to reduce to the export the dependence, reorganizes the economic development pattern the viewpoint, is consistent with the European Pama president's viewpoint. Hu Jintao indicated that inside and outside China adjusts positively needs the structure and the investment consumption pattern, realizes the speed and the structure, the quality, the benefit diligently in the economic development is unified. However he indicated that fundamentally speaking, the global economic unbalanced root is the north and south development serious is not balanced. Has developed the country to take the practical measure to increase to develops the national support. Accompanies Hu Jintao attending China country Development and Planning Commission external affairs Director Ma Xin to point out that the government large-scale involvement market, is in the financial crisis situation the non-conventional behavior, will have the involvement definitely to have the withdrawal, the key will be the opportunity question, when namely will withdraw well. Ma Xin said: “we thought that now discussed the withdrawal strategy is too early, because the world finance has not gone out crisis's shadow, American and Europe's economy still in downward, now will withdraw completely will possibly have the influence to people's confidence. May study the withdrawal the opportunity and the plan, simultaneously makes pays attention to the large-scale involvement the negative influence, prepares for which withdraws.”He indicated that China worried the withdrawal opportunity will grasp not well, possibly will create US dollar depreciation and the inflation. Hu Jintao on 25th travelled by the special plane to return to China in the afternoon.

reply to post by lucentenigma


"Focus on Zhongguancun" is a programme on Beijing TV station, it talks about technology. I'm not sure if it's still broadcasting because I don't live in Beijing.

Here is an you.video.sina.com.cn..." target="_blank" class="postlink">example, it talks about energy saving. The guy in the video is the Chairman of this company.

Sorry none of those are in English, but I guess you could use google translate to translate what it says about that video.

Edit: fix the link





[edit on 26-9-2009 by LovePeaceFreedom]

reply to post by johnwayne


-retracted-

[edit on 26-9-2009 by threekings]