This should be front page news on every newspaper, but instead only a very small news organization is publishing the information.
http://www.fin24.com/Economy/Brics-move … y-20120325
The dollar is being unseated as the reserve currency because we've been inflating it so horribly.
What does this mean? It means that the US's economy will start to have to answer directly to all the dozens of trillions of dollars we've printed in the past few years.
It's going to be bad.
If anyone don't want their dollar bills, send them to me! I'll pay postage!
Maybe the news also missed the creation of Chinese debt, bonds or whatever, that can be traded. Japan has already brought up the first few billions worth and China is recoprocating by buying Japanese debt.
Also RMNB currency trading is already underway between the ASEAN nations, the biggest free trade bloc in the world.
On a personal level, would I rather have my funds in a steadily appreciating RMNB or a declining dollar, espcially with the impending crash that should result in the dollar when China dumps its couple of trillion it hods in US debt.
Yep - it is going to be bad, but hey, I live and get paid in China.
Not immune but a bloody sight less likely than it is that the US and European economies will continue their record of more bust than boom
- and the room for Chinese expansion is vast
- and they are creating their own dependant emerging economies all around them and around the world to bolster their position.
and they do not follow weird economic philophies that include a requirement that everything must increase, which demands colonistaion either physical or through puppet governments.
Actually, China has been a state of massive boom for the last few years. It's only natural to expect a horrific bust. IF I'm not mistaken there are numerous ghost towns and people basically having their lives uprooted to make room for the state's intervention into the economy.
Whatevs, good luck.
The ghost town story is just that, a story. There are vast numbers of empty properties owned by speculators but then there are vast numbers of people migrating into a rapidly growing house owning middle class. The horrific 'bust' is pure wishful thinking from the failed economists who have engineered the western descent into misery for many of its working people, created the conditions for the the pensions and savings to be stolen and generally got it wrong.
People are getting uprooted, but then development does that doesn't it. How do you work out that this is state intervention in the economy ?
"creating their own dependant emerging econs"? (just another form of colonization) China's no better than the U.S. Government power and money. The Mongol kings will rule the world for a while and then another shift will come.
Of course it is just another form of colonisation in part, every country must have resources and trading partners. However, I don't see China out in these places enforcing compliance with the gun, only a trivial difference I guess but hey, it is an improvement
We should also consider that China and most of the countries who are part of ASEAN formed the worlds biggest and richest trade area for the whole of modern man time until the Industrial Revolution on top of aggressive colonisation pushed the 'west' generally to the top (for just over 200 years). Things are just returning to that natural state it appears.
I'm not claiming to support either country but didn't China gain it's power by war mongering other 'territories' back in their first heyday?
I actually have no bias to any country, except maybe my own, the UK. I am just trying to point up the realties of what is happening that the news never tells.
Warmongering, difficult to compare with other historical country making events, although China has generally remained within what is now Chinese territory and most of its wars were internal, such as those of the seven kingdoms that ended in the unification (if you like) of China under an Emporer - all a few thousand years ago. However comparing it with the vast scale and extent of the business of American warmongering is more simple and there is no comparison whatever.
If you don't want dollars, I'll take them off your hands. For a fee, of course.
This isn't news. The fact that so many people put all of their trust in the American dollar and invested in U.S.-based companies and real estate was tantamount to putting all the world's eggs in one basket. The only way to stabilise the global economy - because it is increasingly about that now, whether massively egocentric Americans like it or not - is to create a new cooperative system with hubs in the U.S., the E.U. and China/Japan, so that one hegemonic financially-ruling nation doesn't drag everyone else down when it falters.
by Rhonda D Johnson 5 months ago
What did the US use for collateral when we borrowed money from other countries?We know that the US government has borrowed billions of dollars from China, Japan and other countries. But what did we use for collateral? I've been told that the United States is actually a...
by Dennis L. Page 5 years ago
Why aren't governments calling China, Communist China anymore?I know that China is a global force to be reckoned with, but I'm confused at why the world is no longer calling them "Communist China?"
by ga anderson 4 years ago
I stole this from another thread, so the topic could be discussed without further hijacking the thread it was on. I hope that was OK.John, I am not putting forth criticisms for you to defend. I do not know enough about MMT to hold an intelligent conversation about it. I was merely pointing to...
by SparklingJewel 2 years ago
I picked this up from an online source...is it true???February 26, 2009FEDS GRANT EMINENT DOMAIN AS COLLATERAL TO CHINA FOR U.S. DEBTS!Beijing, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED to me that the United States of America has tendered to China a written...
by rhamson 9 years ago
For years the US has been setting up businesses in China and trading at a deficiet for the last few. China has accepted our credit and continued to loan us money to carry on wars and other policy while the debt accrues. If the Euro replaces the dollar such as is the movement in the middle...
by aware 3 years ago
Why is it that fight for things, die for things, pay for things? And get nothing in return? Iraq should be ours shouldnt it? The 51st state. Anyone?
Copyright © 2019 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|