China worried about the dollar

**st0ned** · 03-24-2009, 06:19 PM

Originally posted by pigman

http://abcnews.go.com/Business/wireStory?id=7073605

"Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference Friday after the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."

If China stops buying US treasuries the dollar is fucked. The global economy is going down, who are the US going to borrow from in a year or two?

They can just print some more.

Our government is truly fucked..

**camgirlshide** · 03-24-2009, 06:23 PM

They are not going to dump dollars. It's mutually assured destruction. They can stop buying treasuries and kill our economy. The US can stop buying cheap goods from China and kill theirs.

**J. Falcon** · 03-24-2009, 06:23 PM

Everything will be fine.

**onwebcam** · 03-24-2009, 06:28 PM

The Fed is already monetizing the debt so what's this year or two talk?

http://www.federalreserve.gov/newsev.../20090318a.htm

**DWB** · 03-24-2009, 06:37 PM

Originally posted by camgirlshide

They are not going to dump dollars. It's mutually assured destruction. They can stop buying treasuries and kill our economy. The US can stop buying cheap goods from China and kill theirs.

China would survive and doesn't give a shit about their people. They produce and WE consume. If we don't consume, they will just be dirty poor again they way they were not too long ago.

Meanwhile in Asia, there is a LOT of news on about China talking about dumping their dollars. Just about every Asian news channel has something about it every day. It could happen. The more the US prints money, the more it devalues the dollar the less important that dollar is to China. There is a breaking point and we are running to it as fast as we can regardless of whatever destruction comes our way. In fact, we started driving down the road of destruction the moment we stopped backing our currency by gold and began printing money out of thin air.

**pigman** · 03-24-2009, 06:53 PM

The dollar dont need to be backed by gold.
The dollar need a responsible country. Not a country that borrows huge sums of money year after year to cut taxes.

**slavdogg** · 03-24-2009, 10:32 PM

what they gonna change the dollars into ?
euros, pounds, franks ? those are all fucked too even more than the dollar
yen ? i doubt it

rubbles ? good fucking luck

maybe china should let its yuan float as an open currency instead

**slavdogg** · 03-24-2009, 10:33 PM

china and russia talk about global currency ?
well we've had that not so long ago in GOLD
that didnt work out so well

**NinjaSteve** · 03-24-2009, 10:40 PM

Can't they just print more money and not tell anybody?

**WoW!** · 03-24-2009, 10:50 PM

Originally posted by pigman

The dollar dont need to be backed by gold.

Just when you thought you heard it all.

China worried about the dollar

China worried about the dollar

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment