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Dollar to Be 'Discarded' by World: China Rating Agency
CNBC ^ | 7 Aug 2011 | Ee Sing Wong

Posted on 08/07/2011 9:08:35 AM PDT by barmag25

click here to read article


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To: SouthTexas

We are only 1/4 of the trade for china.


101 posted on 08/07/2011 5:02:21 PM PDT by Chickensoup (In the 20th century 200 million people were killed by their own governments.)
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To: ken21

My guess in either Russia or India.

China’s crash will follow ours. And it depends on who is left standing after WWIII


102 posted on 08/07/2011 5:26:13 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: Nuc 1.1

We can thank Republicans and Democrats.


103 posted on 08/07/2011 5:35:58 PM PDT by SideoutFred (B.O. Stinks...it really does)
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To: barmag25

Soros is making money off the downgrade as we read this...


104 posted on 08/07/2011 5:43:22 PM PDT by StAnDeliver (/)
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To: _a_0_0_

Standard and Poors isn’t the only game in town, too. What was Moody’s last pronouncement, can’t remember.


105 posted on 08/07/2011 5:56:28 PM PDT by yup2394871293
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To: _a_0_0_

need a picture of the recent Chinese high speed rail crash


106 posted on 08/07/2011 5:58:13 PM PDT by griswold3 (Character is Destiny)
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To: barmag25
The dollar is equivalent to using sea shells for money except that the Libs would expect me to move by the ocean, collect the shells and give it to them.
107 posted on 08/07/2011 6:00:20 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: stars & stripes forever

Either that, or we can all learn to speak Chinese.

When it comes to Central Planning and State run capitalism, we can’t beat them at that game. They are Masters. 4th degree blackbelts in the ancient martial art of Hu Flung Poo. They’ll kick Obama, Reid and every leftist editorial writer up and down the sidewalk for global public entertainment.

We can’t beat them at their own game. Try freedom. It’s uniquely American.


108 posted on 08/07/2011 6:14:51 PM PDT by Eric Blair 2084 (I don't always drink beer, but when I do, I prefer to drink a bunch of them. Stay thirsty my FRiends)
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To: ken21

This freaking worst economy since Carter, we just all have to LOL. This is beyond Carter. The old coots didn’t realize what marxists we had in place. The old coots wanted a commie regime. We’ll take care of that next election. Obama gave them that tool. We MUST remove the commies from within. McCarthy was right. He was 50 years too late.


109 posted on 08/07/2011 6:17:00 PM PDT by Indy Pendance
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To: barmag25

China loves any one world government. They win every “election”.


110 posted on 08/07/2011 6:22:13 PM PDT by Christian Engineer Mass (25ish Cambridge MA grad student. Many conservative Christians my age out there? __ Click my name)
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To: Indy Pendance

amen.

an excellent book is “blacklisted by history” by m. stanton evans.

ann coulter called it the most important book since the Bible.

mcarthy got done in by democrat progressives and rino-progressives.


111 posted on 08/07/2011 6:31:17 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: barmag25

This is BS.Warren Harding figured it out in 1920...

Congress and the Executive Branch have lots to do.

So far they’re not doin’ it right..

Its been done before..

Harding cut the government’s budget nearly in half between 1920 and 1922. The rest of Harding’s approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third. The Federal Reserve’s activity, moreover, was hardly noticeable. As one economic historian puts it, “Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction.” 2 By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and was only 2.4 percent by 1923.

http://www.firstprinciplesjournal.com/articles.aspx?article=1319&loc=r

BTW..ole Warren ALSO fixed immigration...

Mr. Harding signed into law the Emergency Quota Act[3] which sought to control immigration following World War I and preserve the distinctive American culture by ensuring the majority of immigrants came from the historically compatible cultures of Northern Europe. This law aimed to bring wages of hard working Americans under control by limiting immigration to 3% of the 1910 census. It was followed on by a similar act in 1924, after Mr. Harding’s death.[4]

A warren Harding prescription...if filled ...would ignite the afterburners on the US job machine and the economy. However DC would have to yield on a tremendous amount of power. Our job as We the People...is to persuade them of the “utlitity” ..shall we say..of doing so.


112 posted on 08/07/2011 6:36:12 PM PDT by mo
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To: ken21
I'm reading, The Witness, by Whittacker Chambers, the man who testified against Alger Hiss. The book details how he became a communist, his experience as a member of the Communist Underground, and what brought him to his senses. Chambers was born in 1908 and died about 1963. It's a must read for anyone who really wants to understand communists and what motivates them.
113 posted on 08/07/2011 6:42:27 PM PDT by Eva
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To: Eva

thanks.


114 posted on 08/07/2011 6:53:03 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: barmag25

Retirements have already been taken over folks.

The market has been govt. tooled by bailout #I and this debt ceiling raise further diluting private 401Ks, retirements, by mixing them together with govt. and govt. contractor
retirements/pensions in the former free market.

And thus is a homogenous government system.

These moves, down-grading etc.,, will be used by the government to extract more what is not theirs, by using the homogeneous ex-free market as blackmail.


115 posted on 08/07/2011 7:12:32 PM PDT by Varsity Flight
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To: ozarkgirl
I looked him up on line and could not BELIEVE what I was reading on his website, he was waaaayyy left of Hillary.

Not so sure about that. Hillary tried to force Honduras to put Hugo Chavez's buddy as permanent ruler. I think Hillary is better able to hide her real agenda, and would have been a bigger threat to serve 2 terms.

Either one of them is ideologically and morally hideous.

116 posted on 08/07/2011 7:26:03 PM PDT by ding_dong_daddy_from_dumas (Budget sins can be fixed. Amnesty is irreversible.)
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To: barmag25

Dagong made headlines last week when it became the first rating agency to cut its U.S. credit rating from “A+” to “A” after policymakers in Washington failed to act in a timely manner to lift its debt celing-—

Dagong It! when will we have statesmen running things instead of these political asses.

leaders who act nobly and behave humbly instead of the other way around.

teeman


117 posted on 08/07/2011 7:32:09 PM PDT by teeman8r (armageddon won't be pretty, but it's not like it's the end of the world.)
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To: AfricanChristian
American workers are paid way too much in relation to what they produce.

Some certainly are, but that is a loaded comment. The US has a GDP of ~$14.6T on a population basis of approximately 375M total. Global GDP is ~$62T.

Based on simple math the US which has approximately 6% of the population produces approximately 24% of the global production of goods and services.

Put another way - if the other 6.2 billion people on the plant were as productive as Americans - the global GDP would be on the order of $226T. But they aren't as productive for a host of reasons.

Those envious people in other nations that like to take pot shots at our real warts and shortcomings tend to do so while turning a blind eye to the host of reasons that their nation cannot be as successful.

And they - with all do respect can piss off in my opinion and decline any aid from the US at their option.

118 posted on 08/07/2011 7:32:09 PM PDT by !1776!
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To: ken21

A basket of currencies will likely replace it.


119 posted on 08/07/2011 7:44:23 PM PDT by Rick_Michael (Obama Debt-Laden)
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To: mamelukesabre

Read up on those SDR’s. I think it will be more related to a debit type card that is set up on a barter system for everyone. Only the extremely rich will have actual denominational assets.


120 posted on 08/07/2011 8:04:16 PM PDT by proudtobeanamerican1 (A house divided against itself cannot stand.” Abraham Lincoln)
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