China signals plans of swapping its $1TRILLION+ reserves for Euros/CDN

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  • $5 submissions
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    • Nov 2003
    • 32189
    #1

    China signals plans of swapping its $1TRILLION+ reserves for Euros/CDN

    http://www.washingtontimes.com/apps/...111080086/1001

    China roiled financial markets around the globe yesterday when it asserted that the dollar is losing its luster as the world's reserve currency and that Beijing will swap some of its $1.4 trillion in reserves out of U.S. dollars and into stronger currencies like the euro and Canadian dollar.

    Looks like some rough times for the USD up ahead.

    My initial thought: Wait for the bottom and buy in to USD. Over the long haul (5+years), I see it going back to previous levels.

    Your thoughts?
    Tags: None
    • u-Bob
      there's no $$$ in porn
      • Jul 2005
      • 33063
      #2
      the Arabs have an old saying: "May you live in interesting times"

        Comment

        • SinisterStudios
          Confirmed User
          • Nov 2003
          • 3087
          #3
          The US dollar is not going anywhere, the US is still the largest economy in the world and americans spend freely (too freely and thats what got us into all this shit) The low dollar actually helps US exports alot and will help to drop our huge deficit. We havent seen the bottom yet, but when we do it should be a good investment. Once Bush is out of office there should be rebound.

          Its a normal cycle with currency, its happened before and it will continue to happen. Does anyone remember when the Japense Yen was out of control back in the early 90's, the dollar was in the dumps then too and it rebounded.
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            • Brad Gosse
              Confirmed User
              • Jan 2002
              • 2616
              #4
              http://www.nationmaster.com/graph/ec...ccount-balance

              I think it will spiral the dollar even further down when they do this. Americans don't seem to care about their own dollar because the effects have not yet been realized.
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                Comment

                • koalat
                  Registered User
                  • Dec 2005
                  • 63
                  #5
                  Originally posted by SinisterStudios
                  The US dollar is not going anywhere, the US is still the largest economy in the world and americans spend freely (too freely and thats what got us into all this shit) The low dollar actually helps US exports alot and will help to drop our huge deficit.
                  Haha dude, that sounds like pure wishful thinking.

                  See, America doesn't export anything anymore (besides produce) because it was so much cheaper to make in China etc... Every day that the dollar slides buying back all the that stuff was outsourced overseas is only going to get more and more expensive...
                  The Porn Sampler - CLICK HERE!

                    Comment

                    • Snake Doctor
                      I'm Lenny2 Bitch
                      • Mar 2001
                      • 13449
                      #6
                      The Chinese official who made that statement recanted it later in the day.

                      Also remember, China has their currency pegged to ours, so a run on the dollar is the same as a run on the yuan for them.
                      sig too big

                        Comment

                        • StuartD
                          Sofa King Band
                          • Jul 2002
                          • 29903
                          #7
                          Originally posted by Snake Doctor
                          The Chinese official who made that statement recanted it later in the day.

                          Also remember, China has their currency pegged to ours, so a run on the dollar is the same as a run on the yuan for them.
                          Currency around the world used to be based on England's currency in 1900. It changed... it can change again.
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                            Comment

                            • polish_aristocrat
                              Too lazy to set a custom title
                              • Jul 2002
                              • 40377
                              #8
                              Originally posted by $5 submissions

                              My initial thought: Wait for the bottom and buy in to USD. Over the long haul (5+years), I see it going back to previous levels.

                              Your thoughts?
                              what do you mean by previous levels?
                              I don't use ICQ anymore.

                                Comment

                                • dready
                                  Confirmed User
                                  • Oct 2002
                                  • 5247
                                  #9
                                  US Dollar hegemony will end, it's just a matter of sooner or later.
                                  ICQ: 91139591

                                    Comment

                                    • infecto
                                      Confirmed User
                                      • May 2003
                                      • 1697
                                      #10
                                      Originally posted by koalat
                                      Haha dude, that sounds like pure wishful thinking.

                                      See, America doesn't export anything anymore (besides produce) because it was so much cheaper to make in China etc... Every day that the dollar slides buying back all the that stuff was outsourced overseas is only going to get more and more expensive...

                                      Ummm look again and then come back. The US exports billions of dollars worth of output. Its not wishful thinking but elementary economics.

                                        Comment

                                        • sltr
                                          Confirmed User
                                          • Dec 2002
                                          • 3191
                                          #11
                                          u.s. had a neg trade balance of -725 billion just in 2006 alone

                                            Comment

                                            • Snake Doctor
                                              I'm Lenny2 Bitch
                                              • Mar 2001
                                              • 13449
                                              #12
                                              Originally posted by StuartD
                                              Currency around the world used to be based on England's currency in 1900. It changed... it can change again.
                                              *Yawn*
                                              And what does that have to do with the price of tea in China? (literally)

                                              They have their currency pegged to ours, it's something we've been trying to get them to change for years. If they let their currency trade freely they will lose the huge trade advantage they have with us, their biggest customer.

                                              They would literally be cutting of their nose to spite their face.
                                              sig too big

                                                Comment

                                                • sltr
                                                  Confirmed User
                                                  • Dec 2002
                                                  • 3191
                                                  #13
                                                  also, china has a monetary policy that keeps its currency weak in relation to the dollar, by design.

                                                  that will change

                                                    Comment

                                                    • Snake Doctor
                                                      I'm Lenny2 Bitch
                                                      • Mar 2001
                                                      • 13449
                                                      #14
                                                      Originally posted by sltr
                                                      u.s. had a neg trade balance of -725 billion just in 2006 alone
                                                      Quoting our trade deficit during a discussion of the falling dollar is like quoting that smoking rates have dropped when discussing runaway health care costs.

                                                      A falling dollar actually HELPS our negative trade balance.
                                                      sig too big

                                                        Comment

                                                        • Snake Doctor
                                                          I'm Lenny2 Bitch
                                                          • Mar 2001
                                                          • 13449
                                                          #15
                                                          Originally posted by sltr
                                                          also, china has a monetary policy that keeps its currency weak in relation to the dollar, by design.

                                                          that will change
                                                          If it does, China's imports to the US will drop substantially. There are alot of people over here who want to see that happen.
                                                          sig too big

                                                            Comment

                                                            • buzzy
                                                              Confirmed User
                                                              • May 2007
                                                              • 2606
                                                              #16
                                                              People who think the USA will go back up in a few years are surley mistaken, it is not going up, not anytime soon - not ever.

                                                                Comment

                                                                • sltr
                                                                  Confirmed User
                                                                  • Dec 2002
                                                                  • 3191
                                                                  #17
                                                                  Originally posted by Snake Doctor
                                                                  Quoting our trade deficit during a discussion of the falling dollar is like quoting that smoking rates have dropped when discussing runaway health care costs.

                                                                  A falling dollar actually HELPS our negative trade balance.
                                                                  i was commenting in regards to the post previous to mine, not the overall topic.

                                                                    Comment

                                                                    • Eman - PG
                                                                      PG Co-Boss
                                                                      • Nov 2003
                                                                      • 524
                                                                      #18
                                                                      It was some official's opinion, not a decision of the Chinese goverment. Also, to whom exactly will they sell 1T worth of USD? China is something like the biggest or 2nd biggest holder of US treasury in their reseves next to Japan. Also why would they "buy" other assets at their 'peak'? That's certainly not the best strategy.
                                                                      Last edited by Eman - PG; 11-08-2007, 06:24 AM.

                                                                        Comment

                                                                        • Snake Doctor
                                                                          I'm Lenny2 Bitch
                                                                          • Mar 2001
                                                                          • 13449
                                                                          #19
                                                                          Originally posted by buzzy
                                                                          People who think the USA will go back up in a few years are surley mistaken, it is not going up, not anytime soon - not ever.
                                                                          Ever notice how all the "experts" on the U.S. economy and U.S. dollar aren't U.S. citizens?
                                                                          AND notice how they're constantly predicting the demise of our economy and standard of living?

                                                                          I know a lot about economics, I've read volumes on the subject, but I don't know jack shit about England's economy, or Germany's, or Brazil's, or anyone else's other than the one I live in.

                                                                          How is it that all of these foreigners are so "knowledgeable" about another countries' economy, and are so certain that it's going to collapse?

                                                                          My guess is that they're just pissed off that they're getting less euros for their dollars and since they're hurting, they're "praying" that people in the U.S. will feel the same pain.

                                                                          Guess what folks, you're the ones who made the decision to start a business where you sell things primarily to people in another country who use another currency. You were getting nice and fat when the dollar was strong, so now you gotta live with the lean times too.
                                                                          If you don't like it then start a business that sells things primarily to people in Europe.
                                                                          sig too big

                                                                            Comment

                                                                            • infecto
                                                                              Confirmed User
                                                                              • May 2003
                                                                              • 1697
                                                                              #20
                                                                              Originally posted by sltr
                                                                              i was commenting in regards to the post previous to mine, not the overall topic.
                                                                              The reply still makes no sense. Trade deficit yes but we have a huge amount of exports. Our exports are not 0 like someone was trying to imply earlier. I was supporting that economic theory states that with a depreciating currency exports become cheaper therefore foreign countries buy more which boosts the exports of that nation.

                                                                                Comment

                                                                                • buzzy
                                                                                  Confirmed User
                                                                                  • May 2007
                                                                                  • 2606
                                                                                  #21
                                                                                  Originally posted by Snake Doctor
                                                                                  Ever notice how all the "experts" on the U.S. economy and U.S. dollar aren't U.S. citizens?
                                                                                  AND notice how they're constantly predicting the demise of our economy and standard of living?

                                                                                  I know a lot about economics, I've read volumes on the subject, but I don't know jack shit about England's economy, or Germany's, or Brazil's, or anyone else's other than the one I live in.

                                                                                  How is it that all of these foreigners are so "knowledgeable" about another countries' economy, and are so certain that it's going to collapse?

                                                                                  My guess is that they're just pissed off that they're getting less euros for their dollars and since they're hurting, they're "praying" that people in the U.S. will feel the same pain.

                                                                                  Guess what folks, you're the ones who made the decision to start a business where you sell things primarily to people in another country who use another currency. You were getting nice and fat when the dollar was strong, so now you gotta live with the lean times too.
                                                                                  If you don't like it then start a business that sells things primarily to people in Europe.
                                                                                  lol. I earn my money in pounds which is good for me since I can buy whatever I want from the USA for half the price, trust me I'm not mad, the situation is just too predictable. I'm not being anti american or just saying that - hopefully some people will actually listen and get rid of all their USD right now before it's too late and they lose alot of money.

                                                                                    Comment

                                                                                    • sltr
                                                                                      Confirmed User
                                                                                      • Dec 2002
                                                                                      • 3191
                                                                                      #22
                                                                                      Originally posted by infecto
                                                                                      The reply still makes no sense. Trade deficit yes but we have a huge amount of exports. Our exports are not 0 like someone was trying to imply earlier. I was supporting that economic theory states that with a depreciating currency exports become cheaper therefore foreign countries buy more which boosts the exports of that nation.
                                                                                      i was simply mentioning our trade deficit, not debating anything, not challenging anyone's professional economic expertise. simply stating a fact as a posting in the thread.

                                                                                      i do not claim to be an economist and am not here to debate anything of sense.

                                                                                        Comment

                                                                                        • RegUser
                                                                                          Confirmed User
                                                                                          • Nov 2004
                                                                                          • 1472
                                                                                          #23
                                                                                          HERE is another anti american predicting serious slowdown
                                                                                          http://news.yahoo.com/s/ap/20071108/...rnanke_economy

                                                                                            Comment

                                                                                            • axelez
                                                                                              Confirmed User
                                                                                              • Sep 2007
                                                                                              • 121
                                                                                              #24
                                                                                              Originally posted by infecto
                                                                                              The US exports billions of dollars
                                                                                              Keep the hookers just give me the blow

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                                                                                                • GreyWolf
                                                                                                  So Fucking Banned
                                                                                                  • Jun 2007
                                                                                                  • 2036
                                                                                                  #25
                                                                                                  Originally posted by Snake Doctor
                                                                                                  Ever notice how all the "experts" on the U.S. economy and U.S. dollar aren't U.S. citizens?
                                                                                                  AND notice how they're constantly predicting the demise of our economy and standard of living?

                                                                                                  I know a lot about economics, I've read volumes on the subject, but I don't know jack shit about England's economy, or Germany's, or Brazil's, or anyone else's other than the one I live in.

                                                                                                  How is it that all of these foreigners are so "knowledgeable" about another countries' economy, and are so certain that it's going to collapse?
                                                                                                  Obviously an economist at heart Never knew anyone could read volumes about economics and know "jack shit" about anything other than "US economics" - that's an achievement.

                                                                                                  That must have been the volumes entitled - "The Evolution of Economics For Non-Foreigners"

                                                                                                    Comment

                                                                                                    • StuartD
                                                                                                      Sofa King Band
                                                                                                      • Jul 2002
                                                                                                      • 29903
                                                                                                      #26
                                                                                                      Originally posted by Snake Doctor
                                                                                                      I know a lot about economics, I've read volumes on the subject, but I don't know jack shit about England's economy, or Germany's, or Brazil's, or anyone else's other than the one I live in.
                                                                                                      Then you don't know a lot about economics.
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                                                                                                        • Mr.White
                                                                                                          Confirmed User
                                                                                                          • Sep 2007
                                                                                                          • 703
                                                                                                          #27
                                                                                                          i told you before.. was just a matter of time till this topic was brought up!

                                                                                                            Comment

                                                                                                            • Enemator
                                                                                                              Confirmed User
                                                                                                              • Mar 2007
                                                                                                              • 1252
                                                                                                              #28
                                                                                                              Originally posted by SinisterStudios
                                                                                                              The US dollar is not going anywhere,
                                                                                                              Ah..so is that why the dollar has been plummeting uncontrolably?
                                                                                                              I live in your nightmares. I make you dream you're getting bumfucked by a razor blade only to wake up and find I gave your wife an enema and tube-fed you her shit.

                                                                                                                Comment

                                                                                                                • Brad
                                                                                                                  Confirmed User
                                                                                                                  • Jan 2007
                                                                                                                  • 2510
                                                                                                                  #29
                                                                                                                  Originally posted by infecto
                                                                                                                  Ummm look again and then come back. The US exports billions of dollars worth of output. Its not wishful thinking but elementary economics.
                                                                                                                  Who in the top tier doesn't export billions of dollars of goods and services? It's not like people are trying to compare the US to the 3rd world here.
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                                                                                                                    • _Richard_
                                                                                                                      Too lazy to set a custom title
                                                                                                                      • Oct 2006
                                                                                                                      • 30989
                                                                                                                      #30
                                                                                                                      man that's bad news

                                                                                                                        Comment

                                                                                                                        • JP-pornshooter
                                                                                                                          Confirmed User
                                                                                                                          • Sep 2006
                                                                                                                          • 4007
                                                                                                                          #31
                                                                                                                          Originally posted by SinisterStudios
                                                                                                                          The US dollar is not going anywhere, the US is still the largest economy in the world and americans spend freely (too freely and thats what got us into all this shit) The low dollar actually helps US exports alot and will help to drop our huge deficit. We havent seen the bottom yet, but when we do it should be a good investment. Once Bush is out of office there should be rebound.

                                                                                                                          Its a normal cycle with currency, its happened before and it will continue to happen. Does anyone remember when the Japense Yen was out of control back in the early 90's, the dollar was in the dumps then too and it rebounded.
                                                                                                                          US exports is not considered any significance, yes it is there and yes it is going strong right now, but it is still much much less than what we import.
                                                                                                                          perhaps we should sell some american made porn in china to get our hands on those dollars over there...
                                                                                                                          "Obscenity is whatever gives the Judge an erection." -- Author Unknown

                                                                                                                            Comment

                                                                                                                            • JP-pornshooter
                                                                                                                              Confirmed User
                                                                                                                              • Sep 2006
                                                                                                                              • 4007
                                                                                                                              #32
                                                                                                                              Originally posted by Snake Doctor
                                                                                                                              Quoting our trade deficit during a discussion of the falling dollar is like quoting that smoking rates have dropped when discussing runaway health care costs.

                                                                                                                              A falling dollar actually HELPS our negative trade balance.
                                                                                                                              i believe they were merely trying to make a point that despite the high exports volume, there is still a huge deficit, which was mentioned in a reply above quote:
                                                                                                                              "The low dollar actually helps US exports alot and will help to drop our huge deficit." end quote
                                                                                                                              so in fact despite strong export, there is still deficit.
                                                                                                                              a revaluation of the chinese currency would help the situation or americans should think twice before buying chinese made goods.
                                                                                                                              "Obscenity is whatever gives the Judge an erection." -- Author Unknown

                                                                                                                                Comment

                                                                                                                                • quantum-x
                                                                                                                                  Confirmed User
                                                                                                                                  • Feb 2002
                                                                                                                                  • 6863
                                                                                                                                  #33
                                                                                                                                  Originally posted by SinisterStudios
                                                                                                                                  The US dollar is not going anywhere, the US is still the largest economy in the world and americans spend freely (too freely and thats what got us into all this shit) The low dollar actually helps US exports alot and will help to drop our huge deficit. We havent seen the bottom yet, but when we do it should be a good investment. Once Bush is out of office there should be rebound.

                                                                                                                                  Its a normal cycle with currency, its happened before and it will continue to happen. Does anyone remember when the Japense Yen was out of control back in the early 90's, the dollar was in the dumps then too and it rebounded.
                                                                                                                                  HAHAH
                                                                                                                                  RAINBOW PONIES


                                                                                                                                  Most stupid post in gfy history, right there.
                                                                                                                                  The Asian crash in the 90s is entirely different. This is the calculated suicide of the dollar.

                                                                                                                                  If you don't know what the impact of this move can produce, strap in. Australia's dollar was boosted from the .54 > .74 over the last 3 years SOLEY on mining companies investing in AUD to offset costs of inflation later.

                                                                                                                                  If china really drops this, it'll be intense.
                                                                                                                                  PrettyInCash.com - BoozedGFs.com - TeenGFs.com - JizzGFs.com- MilfUploads.com -

                                                                                                                                    Comment

                                                                                                                                    • AlienQ - BANNED FOR LIFE
                                                                                                                                      best designer on GFY
                                                                                                                                      • Mar 2003
                                                                                                                                      • 30307
                                                                                                                                      #34
                                                                                                                                      Fucking Tards

                                                                                                                                        Comment

                                                                                                                                        • infecto
                                                                                                                                          Confirmed User
                                                                                                                                          • May 2003
                                                                                                                                          • 1697
                                                                                                                                          #35
                                                                                                                                          Originally posted by Adult Lounge - Brad
                                                                                                                                          Who in the top tier doesn't export billions of dollars of goods and services? It's not like people are trying to compare the US to the 3rd world here.
                                                                                                                                          Read the context of my post. You have no clue but thanks for trying. Go back home idiot.

                                                                                                                                            Comment

                                                                                                                                            • yahoo-xxx-girls.com
                                                                                                                                              Confirmed User
                                                                                                                                              • Jul 2006
                                                                                                                                              • 3143
                                                                                                                                              #36
                                                                                                                                              The Chinese yuan is not very stable, from what I understand and I feel a bit bad if the Chinese dumps their US dollars... I'm no expert in finance, however it can't be good for the US!

                                                                                                                                              .
                                                                                                                                              sig too big

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                                                                                                                                                • $5 submissions
                                                                                                                                                  I help you SUCCEED
                                                                                                                                                  • Nov 2003
                                                                                                                                                  • 32189
                                                                                                                                                  #37
                                                                                                                                                  Originally posted by u-Bob
                                                                                                                                                  the Arabs have an old saying: "May you live in interesting times"
                                                                                                                                                  Heheheh I get it

                                                                                                                                                    Comment

                                                                                                                                                    • xmas13
                                                                                                                                                      Confirmed User
                                                                                                                                                      • Dec 2004
                                                                                                                                                      • 5176
                                                                                                                                                      #38
                                                                                                                                                      Originally posted by Snake Doctor
                                                                                                                                                      A falling dollar actually HELPS our negative trade balance.
                                                                                                                                                      Oil prices are rising, and Chinese currency is pegged to the dollar.

                                                                                                                                                      Trade deficit reduction might have more to do with the housing crisis, it affected consumption.
                                                                                                                                                      Last edited by xmas13; 11-08-2007, 12:27 PM.
                                                                                                                                                      ICQ 557504926

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                                                                                                                                                        • $5 submissions
                                                                                                                                                          I help you SUCCEED
                                                                                                                                                          • Nov 2003
                                                                                                                                                          • 32189
                                                                                                                                                          #39
                                                                                                                                                          Originally posted by Brad Gosse
                                                                                                                                                          http://www.nationmaster.com/graph/ec...ccount-balance

                                                                                                                                                          I think it will spiral the dollar even further down when they do this. Americans don't seem to care about their own dollar because the effects have not yet been realized.
                                                                                                                                                          Good graphic.

                                                                                                                                                          One other disturbing dimension regarding the dollar's drop: the US enjoys lower inflation since many countries hoard dollars instead of sending them back to the US to circulate. This has the effect of lowering inflation in the US due to less greenbacks in circulation. However, if the countries hoarding start circulating it back to the US, this inflation lowering effect is gone. With inflation being stoked by higher fuel and commodity prices, the US can't afford yet another cause of inflation.

                                                                                                                                                            Comment

                                                                                                                                                            • ADL Colin
                                                                                                                                                              Too lazy to set a custom title
                                                                                                                                                              • Feb 2001
                                                                                                                                                              • 11929
                                                                                                                                                              #40
                                                                                                                                                              Originally posted by RegUser
                                                                                                                                                              HERE is another anti american predicting serious slowdown
                                                                                                                                                              http://news.yahoo.com/s/ap/20071108/...rnanke_economy
                                                                                                                                                              Bernanke forecast a slower two quarters but also said "We think that by the spring of early next year, as these credit problems resolve and as, we hope, the housing market begins to find a bottom ... the broader resiliency of the economy, which we are seeing in other areas outside of housing, will take control and will help the economy recover to a more reasonable growth pace".

                                                                                                                                                              For what it is worth.


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                                                                                                                                                                • sltr
                                                                                                                                                                  Confirmed User
                                                                                                                                                                  • Dec 2002
                                                                                                                                                                  • 3191
                                                                                                                                                                  #41
                                                                                                                                                                  Originally posted by xmas13
                                                                                                                                                                  Oil prices are rising, and Chinese currency is pegged to the dollar.

                                                                                                                                                                  Trade deficit reduction might have more to do with the housing crisis, it affected consumption.
                                                                                                                                                                  doesn't it have everything to do with the housing market?

                                                                                                                                                                    Comment

                                                                                                                                                                    • xmas13
                                                                                                                                                                      Confirmed User
                                                                                                                                                                      • Dec 2004
                                                                                                                                                                      • 5176
                                                                                                                                                                      #42
                                                                                                                                                                      Greenspan and former/current Fed officials should be shot on spot, and we should end their monopoly over US currency.
                                                                                                                                                                      ICQ 557504926

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                                                                                                                                                                        • $5 submissions
                                                                                                                                                                          I help you SUCCEED
                                                                                                                                                                          • Nov 2003
                                                                                                                                                                          • 32189
                                                                                                                                                                          #43
                                                                                                                                                                          Originally posted by polish_aristocrat
                                                                                                                                                                          what do you mean by previous levels?
                                                                                                                                                                          Clinton-era levels or close to it. US financial markets are still the most developed in the world. That's indisputable. However, this advantage may not last long as global finance markets continue to consolidate. Regardless, when the US economy snaps out of its current financial crisis, I see it improving. However, there's a limit to this.... there's still the impending crisis of SOCIAL SECURITY and other mammoth government entitlement programs that have to be dealt with as the Baby Boomers retire later in this decade and the following years.

                                                                                                                                                                            Comment

                                                                                                                                                                            • GreyWolf
                                                                                                                                                                              So Fucking Banned
                                                                                                                                                                              • Jun 2007
                                                                                                                                                                              • 2036
                                                                                                                                                                              #44
                                                                                                                                                                              Originally posted by ADL Colin
                                                                                                                                                                              Bernanke forecast a slower two quarters but also said "We think that by the spring of early next year, as these credit problems resolve and as, we hope, the housing market begins to find a bottom ... the broader resiliency of the economy, which we are seeing in other areas outside of housing, will take control and will help the economy recover to a more reasonable growth pace".

                                                                                                                                                                              For what it is worth.
                                                                                                                                                                              It's called Fedspeak - the same "words" you hear from a banker who has no desire to upset the company he just loaned $100 mill to last week. It's for the ears of the shareholders to keep them from panicking and to create confidence - kinda like the Iraqi Information Minister

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                                                                                                                                                                                • JP-pornshooter
                                                                                                                                                                                  Confirmed User
                                                                                                                                                                                  • Sep 2006
                                                                                                                                                                                  • 4007
                                                                                                                                                                                  #45
                                                                                                                                                                                  greenspan and actually even clinton administration were partly to blame for this overheating of the us economy. the interest rates were just kept too low too long and many peeps took out money out of their homes or made huge profits on the housing boom, which again was spent on import goods (cars and electronics etc..). greenspan tried to do the impossible, to keep the bubble just short of bursting..
                                                                                                                                                                                  "Obscenity is whatever gives the Judge an erection." -- Author Unknown

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                                                                                                                                                                                    • pocketkangaroo
                                                                                                                                                                                      Confirmed User
                                                                                                                                                                                      • Jan 2005
                                                                                                                                                                                      • 8452
                                                                                                                                                                                      #46
                                                                                                                                                                                      I can only imagine that those that are happy about the dollar falling are not making a lot of money in this industry. A weak dollar is bad news for everyone overseas on this forum.

                                                                                                                                                                                        Comment

                                                                                                                                                                                        • quantum-x
                                                                                                                                                                                          Confirmed User
                                                                                                                                                                                          • Feb 2002
                                                                                                                                                                                          • 6863
                                                                                                                                                                                          #47
                                                                                                                                                                                          Here's the thing: If China dumps 1.4trillion USD, the currency is going to take a fucking HUGE hit. That's the summary. Yes, if you live in the USD, 1$ == 1$, but when imports start costing more and inflation sets in, the $1 from 2007 will not each $1 in 2009
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                                                                                                                                                                                            • GreyWolf
                                                                                                                                                                                              So Fucking Banned
                                                                                                                                                                                              • Jun 2007
                                                                                                                                                                                              • 2036
                                                                                                                                                                                              #48
                                                                                                                                                                                              Originally posted by pocketkangaroo
                                                                                                                                                                                              I can only imagine that those that are happy about the dollar falling are not making a lot of money in this industry. A weak dollar is bad news for everyone overseas on this forum.
                                                                                                                                                                                              Can't see *anyone* being exactly happy about it PK - it's yet another pain in the butt for everyone, - don't matter where they are man.

                                                                                                                                                                                              The sooner net transactions are presented in local currencies and at a rate which take current under/over values into account the better. A few people have been doing this already (including us) and it sure cushions the effects of more extreme changes.

                                                                                                                                                                                              Can you imagine any other multi-national tolerating global signups in a depreciating currency? Nope - they already have their regional websites and "cash registers" pre-coded to allow for local currency and other factors.
                                                                                                                                                                                              It may be the US at the moment, but there is always more to gain in currency transacting even if there are minor changes - and the whole industry will gain more stability in revenue, and, most likely, better revenues. At the moment transactions in adult are about as sophisticated as a street-market trader.

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                                                                                                                                                                                                • $5 submissions
                                                                                                                                                                                                  I help you SUCCEED
                                                                                                                                                                                                  • Nov 2003
                                                                                                                                                                                                  • 32189
                                                                                                                                                                                                  #49
                                                                                                                                                                                                  Originally posted by quantum-x
                                                                                                                                                                                                  Here's the thing: If China dumps 1.4trillion USD, the currency is going to take a fucking HUGE hit. That's the summary. Yes, if you live in the USD, 1$ == 1$, but when imports start costing more and inflation sets in, the $1 from 2007 will not each $1 in 2009
                                                                                                                                                                                                  On the upside, US exports will cost less. Also, if China dumps the USD then unpegging the Yuan from the USD probably won't be too far behind. This will result in the Yuan appreciating faster and US export goods, again, becoming cheaper.

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                                                                                                                                                                                                    • GreyWolf
                                                                                                                                                                                                      So Fucking Banned
                                                                                                                                                                                                      • Jun 2007
                                                                                                                                                                                                      • 2036
                                                                                                                                                                                                      #50
                                                                                                                                                                                                      Originally posted by quantum-x
                                                                                                                                                                                                      Here's the thing: If China dumps 1.4trillion USD, the currency is going to take a fucking HUGE hit. That's the summary. Yes, if you live in the USD, 1$ == 1$, but when imports start costing more and inflation sets in, the $1 from 2007 will not each $1 in 2009
                                                                                                                                                                                                      Doubt China would "dump" as such - they have good biz sense and there are other ways of "dumping" without causing so much damage.

                                                                                                                                                                                                      Who knows, but also doubt they are thinking short-term either - there is nothing so far to think China is planning short-term. They are still laying down the infrastructure to enhance their exports globally and investing heavily in this - everything from the Panama Canal to "gifts" to other nations to construct/speedup construction of roads from dock areas (for their product of course )

                                                                                                                                                                                                      The economic thing is prob more along the lines of just gradually balancing their currency reserves - makes sense, tho there could be fractional hits on the dollar despite that.

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