Welcome To Fiat Currency Hell

Well I never thought I would see this day. Fincancially speaking this could make a lot of sense.

China's economy is booming, and in the West, everyone from President Obama on down is demanding that the Chinese currency be allowed to rise in value. Now, it's possible for small investors in the U.S. to capitalize on this opportunity. The Bank of China's New York Branch announced this week that Americans will now be able to open FDIC-guaranteed accounts in the bank in a way that was never before permitted -- by converting their deposits into the Chinese currency, known officially as the renminbi and colloquially as the yuan.

See full article from DailyFinance: srph.it...

However, I just can not bring my self to consider it.

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www.abovetopsecret.com...

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

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www.textfiles.com...
www.hawaii.edu...

Well, if we can't beat them, maybe we can buy them (back)?

But why would the Chinese want even more of our rapidly failing US dollars?

It's all a CIA plot to topple the Chinese, I tell ya!

reply to post by Bhadhidar


Well Obama says it is to allow the Yuan to rise in value.
Lets see...lets help a naked extreme maniacal goverments currency rise in value.

the last paragraph in the OPs linked article says it all:

Of course, the recent opening of the renminbi bank accounts in the U.S. may just be part of the public relations show China is mounting in advance of President Hu Jintao's visit to the White House next week. As Obama presses him to allow the renminbi to climb, Hu can claim that his country is doing everything possible to improve the exchange rate -- including allowing Americans to invest in it's currency more freely.

see... the currency is not in the Forex, where money is traded/speculated daily...
next off... China's leadership is encouraging the population to buy Gold in its' physical form...
so you guess why the Bank of China is allowed to trade in its currency (non physical currency)
in the NYC market place

---do the account fees and exchange rate fees alone... make it profitable for them to provide
this suckers bet to the USA investors---you betcha
otherwise, the "Forex" would be available to their citizens...instead of the central planners directing
the Chinese citizenry into holding & hoarding physical gold.

It seems like at least one state is beginning to take an interest in examining the problems with our own fiat currency.

A member posted this yesterday-VA Looking Into Gold As Alternative To Dollar When SHTF

So it seems the times are just getting very, very, very interesting. (say with dr evil voice)

reply to post by St Udio


St Udio you highlight one of the most important aspects of this story.
Are people really this gullible?

Perhaps this is the interm move?

Originally posted by saltheart foamfollower
It seems like at least one state is beginning to take an interest in examining the problems with our own fiat currency.

A member posted this yesterday-VA Looking Into Gold As Alternative To Dollar When SHTF

So it seems the times are just getting very, very, very interesting. (say with dr evil voice)

Yes they are. I posted a thread on that as well here in the GM forum. www.abovetopsecret.com...
Not much interest. It seems that right now the weather has everyone mesmerized.

The times they are a changing.

i would not be suprised to see the fed scrambling in a near distant future, as well as the taxes, interesting times ahead