Dump the Dollar, China State TV Tells Viewers

Originally posted by TheoOne

Originally posted by never_tell
soon this guy will be tried for treason...

Will? Uh, isn't he dead already, hello?

ya sure he is... dead like Elvis!

Originally posted by mad scientist
Hmm interesting considering that ordinary Chinese don't have dollar accounts. So basically this article means absolutely nothing.

Private Chinese citizens, investors, along with equity & currency traders do hold US Dollars in domestic mainland bank accounts. They also buy US Treasuries...the Chinese are savers.

Remember the last time the Dollar bottomed back in December 2004?

Chinese citizens were lining up outside the Bank of China in downtown Shanghai last week to exchange US dollars for their own currency, the yuan, according to The Wall Street Journal. They fear an official revaluation of the yuan, which if it happens would cut into the value of their dollar savings. www.csmonitor.com...

Take a peek at the current downtrend price objective on the COT long term Dollar Chart.

*Click-on image to enlarge*

I wonder though, that if the US goes into recession, how long they will still be able to hide their secret technologies. It's possible they may even start to sell it. At least perhaps they may not be able to cover up anything as well anymore.
I wonder what will happen though, will they be able to sustain a country that size? Will there be sepratist states? Who knows. It will be interesting to see how this unfolds.

China citizens do have dollar account, it is free to buy and sell only their dollars is legally acquired. Now, chinese can buy 20 thousand dollars per year for traveling abroad.

personal foreign exchange transantion is pervasive in China now.

dont surprise.

Stop buying all that "Made in China" stuff. Why cut our own throats?

Americans are too sensitive about the "Chinese lunchtime television"
and the "wealth management experts".
"experts" are just expressing their own opinions, those opinions have
nothing to with Chinese government and its policy.
Do you know how many TV channels Chinese can receive?
I'm in Beijing, here we can receive at least 40 different channels
if adding digital TV channels and internet TV, that amount will more
than 100.
You can't judge the government policy just by one "lunchtime television"
and a certain "experts".
I recorded this several minutes ago



[edit on 23-11-2007 by gs001]

"free" people were always brainwashed by their "free" government and
"free" media, in the eyes of "free" people, China always conspire to
damage USA, but why?
The economy of China and USA is highly integrated,
If USA collapse. China's prosperity will end.
so if USA won't interfere in Taiwan affair, the two will always be partner.


[edit on 23-11-2007 by gs001]

China is currently divesting it's holdings of 1 Trillion Dollars in U.S. Securities thru a Investment Bank into European Companies and U.S. Companies by purchasing a 10% investment so as not to be regarded as a security threat. As they were with the UNOCAL deal. Very smart those Chinese after all they own Wal-Mart

The dollar is falling like a stone and no matter how much worthless dollars the Federal Reserve prints it will not save our consumer driven economy. We are at War all right an Economic War why else do you think oil is at 100 dollars a bbl. It is not a War on Terror it is an Economic War against OPEC. Wake up!!!!!

LongGone

I find funny how much people defend the US and trash the ability of China to survive if US collapse.

Wake up people China already has taken care of such an event because they are not as stupid as Americans think.

They have been planning what they are doing for a long time and their drive and motive is not to become the losers at all.

Originally posted by marg6043
I find funny how much people defend the US and trash the ability of China to survive if US collapse.

You're not the only one.
But, who knows, maybe we're wrong. Maybe we're just a bunch of alarmists.
Guess we'll just have to wait and see.

As far as I'm concerned, it's the money from China, Japan, and the Arab states that finance the Iraq and Afghan wars. Without which, the US government wouldn't be able to hide the hyperinflation that ravages America.

reply to post by Jazzyguy


Exactly, China has now his own central bank to rival in low rate loans that the world bank can not compete with, anymore when it comes to keeping developing countries permanently on debt.

They also have Africa Markets they have Iran, Russia and South America, with so much discontent in the world against our nations deals and wars is going to be more nations that when the time comes to chose we are going to be surprise who they rather start doing business with.

US depend on China to keep buying our debt and China depend on US for the outsourcing of US technologies and industries.

But when China gets hold of the rest of the markets in the world they can decide if they want to keep financing US wars or not, then where will our nation be turning too.

India?

reply to post by marg6043


India?
as an indian myself, let me tell you,though most indians have positive image of usa , they oppsoe the imperialism of USA too , and secondly india has a forex of 150 billion$ , unlike China which has a far larger reserve

[edit on 23-11-2007 by manson_322]

Originally posted by marg6043
I find funny how much people defend the US and trash the ability of China to survive if US collapse.

Wake up people China already has taken care of such an event because they are not as stupid as Americans think.

They have ? Care to enlighten us on your insight ? Chinese people are very smart, I know I have lived with them and conducted business with them fo quite some time. In fact they have more honors students at scholl than America has students. From what I have seen of American colleges there are plenty of stupid students, whose degrees aren't worth the paper they are printed on.
This does not mean that China can live without the US. What information do you have ? Do you have any or is this a throw away comment ?

reply to post by manson_322


First came the UK finacing our debt. up to 210 billion plus investments.

Then was Japan with 610 billion plus investments.

Now come China 400 billion plus up a trillion on US investments in Europe and India our number 24 with 14 billions so India is already putting money out for our nation, China has been able to get itself deep enough opening their doors to the sell out of America and outsourcing but they have also been able to use the new found wealth to expand.

www.economyincrisis.org...

India is just getting there and doing well thanks to US help, I think that when US ask India to help support our debt I think India will have a hard time saying no.

BTW for those interested in Chinas road to wealth I have posted plenty of links and information in many threads so It doesn't cost anything to do a search.

As I remembered, the first man who advocated "Dump the Dollar"
in China is not a Chinese expert but an American, his name is jim Rogers.
several years ago, he had already successfully predicted the fall
of USD and told Chinese public Dumping the Dollar and keeping
Chinese assets. he himself sold all his American assets and bought
a lot of Chinese assets, so many smart individuals (include some Americans ) are trying to avoid their fortune loss by diversifying their
assets while USD fall.


[edit on 24-11-2007 by gs001]

the shadow banking system, run through company's like gold man sach's and Jp morgan does not have any emotional ties or have any heart strings attatched to ensuring the betterment of the united states economy.

they care less about the standard of living of it's citizens, they plan on taking this game of their's to emerging markets and american's standard of living will be left very low. i have speculated in the last few days how it will happen, and i understand that although i may sound sure of myself and opinions on how this will happen, i confess they are still merely a guess, not that my opinions have changed, but figuring out how the road to serfdom will be paved and when and how asset class prices will fall, and or how consumer prices and wages will rise to make the difference not so unsustainable (or likely a combination of both) is like trying to guess how many hurricane's will form in the atlantic basin next season (a year out).

how am i certain the standard of living is going to plummet. look at our debt to gdp ratio's. and look at our service economy and it's dependance on cheap credit being avialable to us, and the spending we employ thanks to the illusion of wealth inflated asset classes (from debt) have given us.
guessing when is too dificult and gives people a false sence of security or a head in sand dismissal of the possibility/likliehood when nothing happens in the time frame given.

federal intrest rates are going to go very low domestically (fed will keep cutting) this would put tremendous down side pressure on the dollar until other country's start seeing GDP growth slow and begin to cut their own rates, this is when it becomes nearly impossible to determine which currency will be worth more, because soon Euro land will reverse policy and cut which will mean both the dollar and euro will be getting devalued.

china should see its currency appreciate, along with the japanese yen, substantially in the coming years and this would be a unique pretty solid investment with high reward, lower risk in a period (next two years) which will see a continuation of a credit crunch hopeless tied to the housing industry with effects felt around the global banking system. risk premiums in markets will rise while rewards lower (basically the opposite of the enviornment speculators have become addicted to)

Originally posted by rockets red glare
don't worry pal, the american economy is byond strong.

This has to be the most frightening statement in the whole thread... it shows how the media really influences what people think they know.

I thought the economy would have crashed by now though, but its still fighting on... I think the crash is inevitable though. Its coming.


[edit on 24-11-2007 by Copernicus]

Originally posted by marg6043
reply to post by manson_322

 

First came the UK finacing our debt. up to 210 billion plus investments.

Then was Japan with 610 billion plus investments.

Now come China 400 billion plus up a trillion on US investments in Europe and India our number 24 with 14 billions so India is already putting money out for our nation, China has been able to get itself deep enough opening their doors to the sell out of America and outsourcing but they have also been able to use the new found wealth to expand.

www.economyincrisis.org...

India is just getting there and doing well thanks to US help, I think that when US ask India to help support our debt I think India will have a hard time saying no.

BTW for those interested in Chinas road to wealth I have posted plenty of links and information in many threads so It doesn't cost anything to do a search.

India is just getting there and doing well thanks to US help, I think that when US ask India to help support our debt I think India will have a hard time saying no.

hard time saying 'no'
and during 1971 indo-pak war , US military threatened to attack india and deployed a aircraft carrier battle group in the bay of bengal(CBG) and soviets saved us by sending a destroyer task force armed with nukes ,
then during the 80's india had max trade with SU and SU hinted that they wanted india to be junior partner implicitly and provide a naval port in south or andamans , but india never gave a answer

i doubt that india will ever sacrifice its interests , for other nations

reply to post by manson_322


Thanks for the history class Interesting bit of information, I imagine that in this time and day, the same greed that is corrupting our nations government while being ruled by corporate entities had a way to lure other nations in the world to do anything to preserve the new found wealth that nations like India is having now, remember that the same outsourcing that is been taken to China is also been taken to India.

Many US base companies are now in India and India has been allow to buy a piece of America in their road to wealth.

Is there any chance, any chance at all, that the US government actually wants the dollar to collapse. Is it possible they actually want to pull some sort of a stunt, like they did to the Japanese?
Although maybe China had already thought that over, and had planned to sell the yuan in such a way, that makes the yuan seems like the better currency than the dollar in the long term.
Maybe it's a chicken game and a chess game at the same time! Who exactly got the upper hand here?
Either the current administration got everything figure out, and become one of the smartest administration in the US history, OR the dumbest one, the one that makes the US bites the dust.
You know, this whole thing about the Amero, maybe when everything unravel, it will not be such a nutty thing after all.