Posted on 04/24/2011 4:53:51 PM PDT by BfloGuy
China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.
The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.
China's foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.
(Excerpt) Read more at news.xinhuanet.com ...
Meanwhile, Xia Bin, a member of the monetary policy committee of the central bank, said on Tuesday that 1 trillion U.S. dollars would be sufficient. He added that China should invest its foreign exchange reserves more strategically, using them to acquire resources and technology needed for the real economy.
Sooner or later -- when the Chinese are convinced that the Fed is determined to crash the dollar -- they will spend their reserves doing what we've always wanted them to: by buying U.S. products.
And the trade-deficit-fearing populace will cheer. But that flood of dollars returning to the country will be the spark that triggers the widespread inflation we've only, up till now, seen in food and energy.
The Federal Reserve has maneuvered us into a position where we lose no matter what happens.
Some of the headlines discussing what will be done with FOREX are, if not shocking, startling, and carry meanings the writers certainly never intended!
The Federal Reserve has maneuvered us into a position where we lose no matter what happens.
The unfortunate truth is that you are absolutely on the money. Arrg.
But, this is a favor. It is telling Congress, no you can't get anyone to borrow that next Trillion. So, cut now and cut hard.
soooo, does this mean they won’t lend us 1.6 trillion dollars.
BTW, for about four years, “journalists” have been sponsored to write free traitor propaganda stating that China’s crashing and will allow oil prices to fall. But China, India and other east Asian nations continue to increase manufacturing and drive oil prices up. And the dollar is still falling. The globalist house of cards is falling. Our USA is going to default. Big government needs a heavy manufacturing base for sustainable revenues. So tomorrow, there won’t be any big government for favored constituents to manipulate.
Many of us can look forward to tomorrow.
This would be a good time for America to “cap” Chinese imports.
Commence the trade war. Right now.
If not now, when?
That's my take. I'd be perfectly happy if no one will lend us money which runs up the debt. Supposedly there's money on OUR sidelines, if need be.
Interesting. If China puts a credit limit on the US, the Congress won’t have to worry about raising our debt limit. The Chinese will do it for us, and those spendthrifts will have to live on the billions they coerce from their subjects.
That would be a whole new world.
Tang Shuangning, chairman of China Everbright Group... The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars... that the current reserve amount is too high... increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.Kind of a lot, really.
China is attacking the USD. This is economic warfare.
Send the US Navy out to turn around Chinese container ships heading for US ports, and let’s just shut down Chinese unfair trade practices.
We’re going to have to some time.
Might as well be right now.
The chinese buying/ US inflation has begun already with agricutural products.
Edit the last to read “will ever return the favor by allowing themselves to run trade surpluses with the US.”
Do you understand what this man is really saying?
Free trade has nothing to do with inflation. That's an utterly nonsensical comment.
Free trade has nothing to do with debt. When I buy something from China (or Germany), I pay for it with cash. If I put it on a credit card, the money is borrowed from an American bank.
What is the basis for your conflation of free trade with debt?
I’m really tiring of “understanding” what weenies who work to tear down my country are saying.
Time for that man to understand what I and many other Americans are saying.
Get out of the way, “free traders”. Now.
Your time is over.
Don’t we have some of our fine Senators over there right now? Or they were just there—what a coincidence!
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