China attacks the Dollar

And on top of all that,our gas just went to $3.49 a gallon and I heard it's expected to rise at least 16 cents.
Stockpile,be ready,here it comes.

Wasnt there some internal trouble the other day in China concerning the population getting upset and wanting to get inflation and pricing under control, and the information minister coming out and proclaiming that steps were going to be taken?
If I remember correctly there was an increase in China with internet calls for democracy and government change,
(hold on let me look)

www.nytimes.com...

news.yahoo.com...

www.telegraph.co.uk...

www.dailymail.co.uk...

I thought I read some things over the last few days,
seems there's some unrest going on as well in China, the way it's being dealt with is why we're hearing these things.
Theres just a small amount of reading involved but truly worth it.
It doesnt mean there isnt trouble,it just will give you a better understanding of why.
Dont forget,their solution,whatever it is, still requires production and shipment and sales to continue at cureent levels at a minimum, they may say theyre not affected or like us in a governmental way but the truth would quickly reveal itself should chaos show up.

wowza!

Things are really escalating in a bad way..

middle to end of the month, and April aught to be damn insane at this rate. Especially with all the stuff coming down the pipe.

Wonder if it will all let loose in the course of a day, or over a week..

Ugh.. get it over with..

Originally posted by JanusFIN
Same moment when US Navy is closing Libya...

www.abovetopsecret.com...

- Great information war has started today
- China attacks dollar today
- New rumors today from Israel attacking soon Syria and Lebanon
- Missile warning training all over Israel today
- India is sliding with Russia and China, news out today
- Russia moving navy to islands near Japan, ousting japanese CEO:s from country today
- Korean peninsula is in high alert

--- I dont want to rush to any conclusions, but...

2 US servicemen just got shot dead at Frankfurt airport. A Kosovo gunman opened fire at army bus.

The man is in German police custody. Things get really noisy by the minute.

reply to post by Shenon

I wonder when Wal-Mart will start accepting yuans at the check out.....

The collapsing US dollar is bad for the Americans, the Chinese, and the Arabs,
it is good for the bankers.

According to the patriot act hoarding is illegal.
According to your neighbours your stash belongs to them...
IMHO
this is going to require deeper thinking to solve.

BUY USA products and INVEST in US businesses.
Support the troops but bring them home.

I thought it would happen in another decade or so, but it was bound to happen...the dollar was never going to have it's tentacles wrapped around the world forever, this is just a natural shift that will play out over the coming years. Americans are going to be worse off in the short term but that is unavoidable and will probably do you some good in the long run.

Hmmm..."The higher you climb,the harder the Fall,for no Ladder is endless" Just popped in my Head

Originally posted by PurpleDog UK
reply to post by DragonTattooz

 

I think you will find there are literally Billions of consumers either 'Home grown' in China or popping up, in the billions in India and a few hundred million in south America........

These NEW consumers also seem to have money unlike 90% of Americans........ and Europeans come to think of it...

PDUK

edit on 2-3-2011 by PurpleDog UK because: (no reason given)

The US is still the world's #1 economy by a huge margin. We are, by far, the world's #1 consumer of Chinese goods. The people in China and India who are making $0.50 an hour aren't big consumers. Remember, that's why US companies outsource? Because Chinese and Indian labor is so cheap? How are those people big consumers? Just because there is a lot of them? Most Chinese and Indians, by most I mean MOST, are so far below what the US calls poverty level, that we actually use a different phrase to describe their economic status; it called Third World Country.

i went to a website where i can watch the active trade in currency right now...6:54p.m. P.S.T. march 3, 2011, there is no change in EUR/USD, AUD/USD, OR USD/JPY trading...so as of right now...the OP is lying.

Well, on the one hand we have the USD getting a handy beat-down as of late. It is currently testing a lower resistance and the next week or so will be very critical. The good news is that this story does not seem to be making much of a difference in the USD index, nor does it seem to be hitting any of the other markets either. I am inclined to think this is just a rumor and won't pan out (at least in the near-term).

All that aside, the USD is definitely in a critical position right now. Let's see if it continues a drop below 76 (hovering at 77 right now) because if it goes under 76 with some steam, we are looking at some troubles on the horizon.

Oh, and although I too believe that we should buy American, I am afraid to report that it is not only easier said than done but it is also too little too late. The next time you are shopping for hard goods make it a point to look at all tags. You will be surprised at how difficult it is to find truly American goods.

Originally posted by jimmyx
i went to a website where i can watch the active trade in currency right now...6:54p.m. P.S.T. march 3, 2011, there is no change in EUR/USD, AUD/USD, OR USD/JPY trading...so as of right now...the OP is lying.

The Sources,"Welt" and "Spiegel" are pretty reliable German News-Outlets. So there has to be some Truth to it. Don´t ask me why its not covered elsewhere...a Gag-Order on other News is probable,because an Announcment like that would wreak havoc on the Markets.

Wait till tomorrow...

Originally posted by Shenon
Spiegel - Google Translation
Welt - Google Translation

The Chinese central bank surprises with a spectacular announcement: The would-be superpower, wants to complete trade in yuan handle their future, not in dollars.Beijing shakes America's claim to represent the key currency - with serious consequences for the U.S..

And so it begins...discuss.

Edit: Added another Source

edit on 2-3-2011 by Shenon because: Added link

This is all playing-out to the US's advantage.

reply to post by kon1foundas


How so?
Explain please

Originally posted by DragonTattooz

Originally posted by PurpleDog UK
reply to post by DragonTattooz

 

I think you will find there are literally Billions of consumers either 'Home grown' in China or popping up, in the billions in India and a few hundred million in south America........

These NEW consumers also seem to have money unlike 90% of Americans........ and Europeans come to think of it...

PDUK

edit on 2-3-2011 by PurpleDog UK because: (no reason given)

The US is still the world's #1 economy by a huge margin. We are, by far, the world's #1 consumer of Chinese goods. The people in China and India who are making $0.50 an hour aren't big consumers. Remember, that's why US companies outsource? Because Chinese and Indian labor is so cheap? How are those people big consumers? Just because there is a lot of them? Most Chinese and Indians, by most I mean MOST, are so far below what the US calls poverty level, that we actually use a different phrase to describe their economic status; it called Third World Country.

Well, China has a population of 1,300 million and India has a population of 1,100 million. The US is at 360 million.
While you are partly right about the fact that most are at a very low standard of living you are incorrect about the perceived absence of a middle class. Thanks to the rampant consumerism and outsourcing of the US, both China and India have experienced the development of a professional middle class. While the vast majority of citizens of these countries are still in poverty, don't discount the fact that they are growing economies while ours is not. Their economies are also based on the production of goods while ours is on the manufacture of debt.

This story may turn out to be bunk, but I have no doubt that the US economy is unhealthy. It may take many years before that unhealthy state translates to tangible results, but that is part of the cycle anyway.

Originally posted by Wetpaint72
reply to post by Misoir

 

This may be off topic. And I may be misinterpreting what you are saying...

But does this mean that they could slip a new world currency in under our noses that only the ultra wealthy deal in. While the rest of us deal in our respective currencies of equal but lesser valve.

Wouldn't that...or couldn't that be a result. "serf" currencies remain the same and we go about our lives trading worthless paper for menial goods and services. While the big banks deal in real property, gold, oil, and other resources and commodities, all baed on a different currency.

Just look at gold. The conversion will be astronomical.

edit on 2-3-2011 by Wetpaint72 because: Spelling.

If this was charades.....finger on the nose!

Originally posted by Shenon
reply to post by kon1foundas

 

How so?
Explain please

The plan from the United State's perspective is to weaken its own currency, or more to the point with respect to this thread, strengthen the yuan any way it can. It's all about weakening the USD and helping US exports. The Federal Reserve's in on it too, even though it can not admit this.

Ah yes,i guess we can call it CONFIRMED now huh?
New ATS Thread with "Zerohedge.com" Source

I actually find this article quite humorous. Let's see, a country that still artificially controls their currency. Their economic indicators ( ex. housing , GDP ) are exponentially far more manipulated than ours could ever be. Does this sound like a reserve currency to you? Not remotely close to me personally. I am not sure why any legitimate news service would run this to be honest.

They still have a massive wealth disparity. They are building those "ghost cities" just to build them right now. My guess is that the money spent on all of this isn't all correctly reported. All of this expansion and they do not let the Yuan float against the dollar. Doesn't seem to fit in the category of "flight to safety", IMO.

It might have also been a "piece" sent in for the news companies to run headlines. Hedge Fund Manager "x" with 50 Billion assets under management has one of his minions run something by the Associated Press because he is short 500 contracts in the DX Futures (US DOLLAR INDEX) going into the weekend. I know ( believe I personally know many examples, can't say for 100% sure of course ) this happens quite regularly.

How much do you think it costs to get a rumor floated around the opening bell on CNBC at let's say 9:15AM? Whatever the cost it will most likely pay handsomely.