as long as the Yuan is pegged to the dollar, how it it any different??? they will have to unpeg and they don't want to do that...
Posted on 12/27/2011 7:47:43 PM PST by JohnKinAK
When the Dollar loses it’s reserve status, we will be so hosed.
And we aren't dead in the water quite yet.
Tell me again when silver pesos aren't being cut up by Texas Rangers for stars to wear on their chest.
You did know that's where that came from, right?
/johnny
as long as the Yuan is pegged to the dollar, how it it any different??? they will have to unpeg and they don't want to do that...
there are many economic crises brewing.
NK full melt down famine, government melt down.
China - banks, large financial, local gov sponsored businesses are bankrupt. The first wave of delayed loan repayments have hit ad will only get much worse. R/E bubble make our look small. prices off 20% this year and will continue collapsing. industrial output falling. They have all but admitted they’re in recession.
Euro- must fail soon or all 27 countries will lose their sovereignty to germany, 4th Reich?
Thats just a start, chavez has crapped his country, syria and thus iran are now likely to fall, even the Muslim brotherhood is making squeaky noises to try to continue to get us aid.
All in all lots of problems, but if we had competent leadership it could be navigated, now we have to hope he french will do the right thing.
I’m not happy one bit with what our government has done to the dollar. At some points, it really gets to be disconcerting. You start to think all manner of bad things about our dollar’s status.
There are things to be concerned about, no doubt about it. The luck of the draw has the dollar being challenged by the Euro, China’s currency, or an as yet to be named currency.
The dollar will remain the haven of choice for the time being, and should we get someone in the White House whose head doesn’t reside in their posterior, the dollar will remain strong for a number of decades, perhaps a century to come.
I agree with your 2012 outlook, but the EURO or RMB will not be replacing the USD anytime soon. Both regions have far worse long term economic problems than we do.
The USD has been steadily dropping against the RMB - and just hit a new low.
so it is no longer pegged then?
yup it is, why don't they let the Yuan trade on the open market without the peg???
“so it is no longer pegged then?”
If I remember correctly, it’s been nearly a year.
marker
it still is, just down from 8 to the dollar The People's Bank of China (PBOC) pegged the exchange rate of US dollar against Chinese yuan at 6.3167, higher than 6.3209 last Friday and close to 6.3165, a historic high. The Chinese yuan had appreciated 4.1% against the US dollar since the beginning of this year, pointed out market observers, attributing the appreciation to the first 10 months of the year, when the country tried to rebalance the trade and fight against the inflation with exchange rate.
Ah, ok. It seems like I remember reading about it being depegged (maybe just lowered, as you mentioned), early in the year. I’m not well versed in international exchange of currencies, so by no means take my word for it. After I said that, I did a search, and there was a lot of talk about the peg being loosened late fall of last year, so that must be what happened. I also remember a discussion with another FReeper at that time who said that while that had officially “de-pegged” from the dollar, that they were maintaining a de facto peg by manipulation to keep it at a similar rate, without it officially being so. Is that correct?
Does this look pegged?
One has only to look around oneself and think a little to understand where all this must ultimately lead.
uumm the majority of Americans are more concerned about what those Krazy Kardashians are up to that they can't be bothered with figuring out what complicated things like "reserve currency" and "hegemony" even mean, never mind have any type of assumption.
it still is, just down from 8 to the dollar The People's Bank of China (PBOC) pegged the exchange rate of US dollar against Chinese yuan at 6.3167, higher than 6.3209 last Friday and close to 6.3165, a historic high. The Chinese yuan had appreciated 4.1% against the US dollar since the beginning of this year, pointed out market observers, attributing the appreciation to the first 10 months of the year, when the country tried to rebalance the trade and fight against the inflation with exchange rate.
They certainly seem to move that peg quite a bit... Doesn’t make it much of a peg at all, does it?
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