China's Central Banker: We Own Too Much U.S. Debt - GoFuckYourself.com

Emil · 04-26-2011, 02:53 AM

China's Central Bank Chairman Zhou Xiaochuan told a Chinese monetary conference last week that ?Foreign-exchange reserves have exceeded the reasonable level that our country actually needs,? which is essentially code for China won't be buying U.S. government debt any more. China's foreign currency reserves exceeded $3 trillion at the end of March, more than $1 trillion of which is U.S. government debt.

The limit on America's national credit card may have been reached.

http://thenewamerican.com/economy/ma...o-much-us-debt

Paul Markham · 04-26-2011, 03:20 AM

A lot of people own to much US debt.

u-Bob · 04-26-2011, 03:27 AM

well, the longer it takes before they let the bubble burst, the more it will hurt....

HomerSimpson · 04-26-2011, 03:33 AM

I think that US(D) is fucked now...

spazlabz · 04-26-2011, 03:34 AM

that article is depressing as hell. I remember the inflation of the 70s and it sucked ass. If China stops buying the US debt couldn't that lead to super inflation?

- LOL - · 04-26-2011, 03:50 AM

USD is not backed by gold.

Basically, it is as valuable as paper.

Vendot · 04-26-2011, 04:18 AM

Quote:

Originally Posted by - LOL -

USD is not backed by gold.

Basically, it is as valuable as paper.

Id go one step forward and say the USD is as valuable as toilet tissue and probably will be about as useful.

Emil · 04-26-2011, 04:28 AM

Quote:

Originally Posted by spazlabz

that article is depressing as hell. I remember the inflation of the 70s and it sucked ass. If China stops buying the US debt couldn't that lead to super inflation?

Exactly. If you got dollars saved in your bank-account I suggest that you invest them into something that wont lose all of it's value. If there is a hyperinflation your money will be completely worthless.

Gerald Celente have foreseen many crashes and other stuff. I think you should listen to him.

USA in a couple of years?

spazlabz · 04-26-2011, 04:37 AM

Quote:

Originally Posted by - LOL -

USD is not backed by gold.

Basically, it is as valuable as paper.

what are you talking about? The Fed can always print up more!

kidding of course, since we went off the gold standard in the US a time of potential economic collapse was almost inevitable. And if you give a group of private companies the power to print as much money as they like and loan it to a government that is desperate for cash you are setting up a system intended to be abused and that's just what the US did at the beginning of the 20th century. Deregulate the financial institutions and bang! Runaway inflation which is the last thing the American economy needs right now.

I am not being a chicken little, I think there is a way to save the economy before hyper-inflation and financial collapse happens but I have no idea how to save it. That is a job for people a hell of a lot smarter than me. I would assume that would include placing very strict regulations in place but in the current political environment I don't see how that would be possible

Kiopa_Matt · 04-26-2011, 04:37 AM

Time to learn Chinese, and move to SE Asia!

spazlabz · 04-26-2011, 04:43 AM

Quote:

Originally Posted by Kiopa_Matt

Time to learn Chinese, and move to SE Asia!

maybe Europe, their economy is strong and they like titties and beer as much as us yanks

DWB · 04-26-2011, 04:55 AM

Yea but... but... the government says we are ok. Are you saying I shouldn't believe them, or the Fed?

I don't think they would lie to me.

Crazy talk.

spazlabz · 04-26-2011, 05:03 AM

Quote:

Originally Posted by DWB

Yea but... but... the government says we are ok. Are you saying I shouldn't believe them, or the Fed?

I don't think they would lie to me.

Crazy talk.

What WAS I thinking???

Jman · 04-26-2011, 05:17 AM

Quote:

Originally Posted by Kiopa_Matt

Time to learn Chinese, and move to SE Asia!

AS long as you stay out of Canada it's fine by me ;)

IllTestYourGirls · 04-26-2011, 05:25 AM

Emil · 04-26-2011, 05:28 AM

Quote:

Originally Posted by Vendot

Id go one step forward and say the USD is as valuable as toilet tissue and probably will be about as useful.

Id go one step forward and say the USD is not as valuable as paper as most of it is digital.

Phoenix · 04-26-2011, 05:40 AM

i bet that guy has a "heart attack" very soon...and replaced with someone that knows better ;)

time is ripe for someone to be taking massive loans from the usa

wonder who it will be?

wig · 04-26-2011, 06:19 AM

Quote:

Originally Posted by spazlabz

that article is depressing as hell. I remember the inflation of the 70s and it sucked ass. If China stops buying the US debt couldn't that lead to super inflation?

You mean Hyper-inflation? That's a radical forecast usually made by Ron Paulians, perpetual gold bugs, anarcho-capitalists and/or anti-Fed / Banker conspiracy theorists.

Here's the inflation data for the past 10 years. You can look at each decade prior to that going back to 1913. The average rate of inflation since then is around 3.2%.

Notice we had slight deflation in 2009 and were faced with a deflationary spiral and credit freeze world wide. That's bad and that's what the FED / Gov't would rather avoid and why they did what they did (monetary / fiscal stimulus). Now before the peanut gallery jumps all over me, I'm not making a value judgment on whether that is good or not, just offering the facts.

IMO, Inflation of the sort that we had in the 70's (stagflation) is possible. But then again, it is possible that we slip back into deflation which would be even worse. The least likely thing you can say at this point is that hyper-inflation is the threat.

Also worth pointing out is that not a single currency in the world today is backed even 1% by gold / silver. The Swiss Franc used to be back 40%, but they had to sell it to join the IMF.

spazlabz · 04-26-2011, 06:25 AM

Quote:

Originally Posted by wig

You mean Hyper-inflation? That's a radical forecast usually made by Ron Paulians, perpetual gold bugs, anarcho-capitalists and/or anti-Fed / Banker conspiracy theorists.

Here's the inflation data for the past 10 years. You can look at each decade prior to that going back to 1913. The average rate of inflation since then is around 3.2%.

Notice we had slight deflation in 2009 and were faced with a deflationary spiral and credit freeze world wide. That's bad and that's what the FED / Gov't would rather avoid and why they did what they did (monetary / fiscal stimulus). Now before the peanut gallery jumps all over me, I'm not making a value judgment on whether that is good or not, just offering the facts.

IMO, Inflation of the sort that we had in the 70's (stagflation) is possible. But then again, it is possible that we slip back into deflation which would be even worse. The least likely thing you can say at this point is that hyper-inflation is the threat.

Also worth pointing out is that not a single currency in the world today is backed even 1% by gold / silver. The Swiss Franc used to be back 40%, but they had to sell it to join the IMF.

incredible information thank you

amateurbfs · 04-26-2011, 06:46 AM

Quote:

Originally Posted by - LOL -

USD is not backed by gold.

Basically, it is as valuable as paper.

Care to name for us some countries not using a fiat currency?

DamianJ · 04-26-2011, 06:50 AM

Quote:

Originally Posted by Emil

China's Central Bank Chairman Zhou Xiaochuan told a Chinese monetary conference last week that ?Foreign-exchange reserves have exceeded the reasonable level that our country actually needs,? which is essentially code for China won't be buying U.S. government debt any more. China's foreign currency reserves exceeded $3 trillion at the end of March, more than $1 trillion of which is U.S. government debt.

The limit on America's national credit card may have been reached.

http://thenewamerican.com/economy/ma...o-much-us-debt

If they were running Windows this never would have happened. Fucking Apple.

BlackCrayon · 04-26-2011, 06:58 AM

Quote:

Originally Posted by - LOL -

USD is not backed by gold.

Basically, it is as valuable as paper.

as is basically every other currency on earth...

MrMaxwell · 04-26-2011, 11:52 AM

Quote:

Originally Posted by wig

You mean Hyper-inflation? That's a radical forecast usually made by Ron Paulians, perpetual gold bugs, anarcho-capitalists and/or anti-Fed / Banker conspiracy theorists.

Here's the inflation data for the past 10 years. You can look at each decade prior to that going back to 1913. The average rate of inflation since then is around 3.2%.

Notice we had slight deflation in 2009 and were faced with a deflationary spiral and credit freeze world wide. That's bad and that's what the FED / Gov't would rather avoid and why they did what they did (monetary / fiscal stimulus). Now before the peanut gallery jumps all over me, I'm not making a value judgment on whether that is good or not, just offering the facts.

IMO, Inflation of the sort that we had in the 70's (stagflation) is possible. But then again, it is possible that we slip back into deflation which would be even worse. The least likely thing you can say at this point is that hyper-inflation is the threat.

Also worth pointing out is that not a single currency in the world today is backed even 1% by gold / silver. The Swiss Franc used to be back 40%, but they had to sell it to join the IMF.

I just want to know where the stolen value goes... every year money you hold onto is worth less value. Well. That value goes SOMEWHERE. Right. Make sense? It doesn't go to the bottom 99.9% of us, as we're not the one printing it and loaning it

pistolspete · 04-26-2011, 11:53 AM

same as the Irish bankers ... all fucked up

Due · 04-26-2011, 11:54 AM

Quote:

Originally Posted by Vendot

Id go one step forward and say the USD is as valuable as toilet tissue and probably will be about as useful.

That's actually treated paper and far more expensive than just regular paper

wig · 04-26-2011, 12:25 PM

Quote:

Originally Posted by MrMaxwell

I just want to know where the stolen value goes... every year money you hold onto is worth less value. Well. That value goes SOMEWHERE. Right. Make sense? It doesn't go to the bottom 99.9% of us, as we're not the one printing it and loaning it

We lose it through lost purchasing power. Everyone loses it. Obviously, savers lose more because even under normal conditions (say 1-3% inflation) their purchasing power is decreasing. Of course, unless a saver sticks the money in his mattress, there is some return in even the most basic instruments, which is what is designed to offset or exceed the loss due to inflation. This is what a creditor aims to receive in order to be willing to loan the money in the first place. Borrowers put that money to work creating wealth (or attempting to) or by blowing it.

Ideally, we would have 0% inflation, but that is too hard to achieve and it runs the risk of deflation. Deflation causes individuals and businesses to postpone purchases and investment because of falling prices. It can then spiral.

Therefore, moderate, controlled inflation has always been the goal. Inflation prompts borrowing and investment. That's the idea, anyway.

04-26-2011, 02:53 AM	#1
Emil Confirmed User Join Date: Feb 2007 Location: Sweden Posts: 5,646	China's Central Banker: We Own Too Much U.S. Debt China's Central Bank Chairman Zhou Xiaochuan told a Chinese monetary conference last week that ?Foreign-exchange reserves have exceeded the reasonable level that our country actually needs,? which is essentially code for China won't be buying U.S. government debt any more. China's foreign currency reserves exceeded $3 trillion at the end of March, more than $1 trillion of which is U.S. government debt. The limit on America's national credit card may have been reached. http://thenewamerican.com/economy/ma...o-much-us-debt __________________ Free 🅑🅘🅣🅒🅞🅘🅝🅢 Every Hour (Yes, really. Free ₿itCoins.) (Signup with ONLY your Email and Password. You can also refer people and get even more.)

04-26-2011, 03:20 AM	#2
Paul Markham Too old to care Industry Role: Join Date: Jun 2001 Location: On the sofa, watching TV or doing my jigsaws. Posts: 52,943	A lot of people own to much US debt. __________________ Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500. PM me for a deal. Skype Paulmarkham70

04-26-2011, 03:33 AM	#4
HomerSimpson Too lazy to set a custom title Industry Role: Join Date: Sep 2005 Location: Springfield Posts: 13,826	I think that US(D) is fucked now... __________________ Make a bank with Chaturbate - the best selling webcam program Ads that can't be block with AdBlockers !!! /// Best paying popup program (Bitcoin payouts) !!! PHP, MySql, Smarty, CodeIgniter, Laravel, WordPress, NATS... fixing stuff, server migrations & optimizations... My ICQ: 27429884 \| Email:

04-26-2011, 04:37 AM	#10
Kiopa_Matt Confirmed User Industry Role: Join Date: Oct 2007 Posts: 1,448	Time to learn Chinese, and move to SE Asia! __________________ xMarkPro -- Ultimate Blog Network Management Streamline your marketing operations. Centralize management of domains, pages, Wordpress blogs, sponsors, link codes, media items, sales and traffic statistics, plus more!

04-26-2011, 05:25 AM	#15
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	__________________

04-26-2011, 03:27 AM	#3
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	well, the longer it takes before they let the bubble burst, the more it will hurt....

04-26-2011, 03:34 AM	#5
spazlabz Confirmed User Industry Role: Join Date: Jul 2003 Location: Kentucky Posts: 6,548	that article is depressing as hell. I remember the inflation of the 70s and it sucked ass. If China stops buying the US debt couldn't that lead to super inflation?

04-26-2011, 03:50 AM	#6
- LOL - So Fucking Banned Industry Role: Join Date: Sep 2010 Posts: 396	USD is not backed by gold. Basically, it is as valuable as paper.

04-26-2011, 04:55 AM	#12
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	Yea but... but... the government says we are ok. Are you saying I shouldn't believe them, or the Fed? I don't think they would lie to me. Crazy talk.

04-26-2011, 05:40 AM	#17
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	i bet that guy has a "heart attack" very soon...and replaced with someone that knows better ;) time is ripe for someone to be taking massive loans from the usa wonder who it will be? __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

04-26-2011, 11:53 AM	#24
pistolspete Registered User Join Date: Mar 2006 Posts: 37	same as the Irish bankers ... all fucked up