Posted on 08/07/2011 9:54:01 AM PDT by jafojeffsurf
The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating.
(Excerpt) Read more at cnbc.com ...
You think ANYONE trusts China?
Now I found it, Duplicate thread
http://www.freerepublic.com/focus/f-news/2759972/posts
Coming from a country whose economy is built on a “house of cards”.
It is also highly lucrative for currency traders like, say, George Soros.
Obamunism has consequences, election are not American Idol Contests.
Welcome to Weimar Amerika, folks....
COMMENCE THE TRADE WAR.
Now. Enough of this sh*t.
America first.
Ummm, China's got the money and we're BROKE. Yeah, people trust them...
We're broke because dems gave away the wealth of our nation to buy the votes of their victim group supporters.
Thanks dems, for bankrupting the country.
Yes, with the emphasis on all.
I keep wondering why The Usurping Marxist Onada continues to adopt policies that blatently and by design kill the American economy. Aftrall, every American is being affected by his Marxist-driven agenda. He seems unconcerned with the 2012 elections.
Within the last couple of days I’ve begun to think international—not just America. Isn’t it curious that the economies of the entire non-Marxist world are in deep doodoo simultaneously? If there’s an odds maker out there, what would be the odds of that happening and all for essentially the same reasons?
I think we’re witnessing a Marxist assault on the global economy. Marxists, because they are historically better organized (neighborhood organizers anyone?) than their opposition almost always benefit from chaos. Objective: Create international chaos in order to impose a world-wide Marxist Utopia.
In the end, I can see currencies worldwide going back to an asset-based system based on gold, silver, platinum, palladium, copper and nickel--the metals commonly used for coins and bullion blocks used in monetary transactions.
Obama&Co. do.
I think the world is done using one country's currency as the world currency. A basket of currencies is one possibility; some selection of metals of limited availability is another. Gold is only important if you carry it in your purse. A train full of lead or copper is also a good store of value; certainly better than debt notes of some Swiss or Chinese bank. Been there, done that.
China??Hell Thank Bent Bill,He pushed them with MFN and everything they needed.
It’s the Tea Party’s fault!
And what are they going to use instead, the Euro? Certainly not the Chinese Renminbi. Currency is all about faith. There may be little of it in currency right now but there are few options besides USD. The main risk will be that no currency will be acceptable.
That has always been his goal. Somehere along the line we seem to have forgotten that. And who was it again that was pulling Obamas' strings?
You just described the use of special drawing rights, more or less. In fact, don’t be surprised that SDR’s will soon be defined as a combination of the Euro, British pound, Swiss franc, US dollar, Japanese yen, South Korean won and Chinese yuan.
“China” should be used to refer to the legitimate government, the Republic of China.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.