I have to display my ignorance a bit and ask a question.
So China manipulated their own currency to devalue it against the dollar. I assume this is to hold a price point from it’s own manufacturers to offset the taxes and market price increase here in the USA. But I’m struggling to grasp how that doesn’t also hurt China’s economy.
If they artificially devalue their money, doesn’t it also increase the cost of international commodities (like energy) for their investors and citizens? It seems like that would do more damage to their economy than just losing sales in one industry. Hell they are creating inflation, right?
I’m sure I am missing something or am confused. A smarter FReeper is welcome to explain the China Strategy to me.
That’s OK.
The main thing is that they are not selling US treasuries, which would hurt the US.
$88.9 billion for an economy with a 12 trillion GDP is hardly “de-dollarizing”, it’s more like a drop in the bucket ...
they could buy all 7.5 trillion dollars of gold ever mined in history, and it STILL wouldn’t do them much good ...
So, those guys on the radio who have been arguing that gold is the smart buy for the last six years have finally been proven right?
Get some silver.
They are giving it away at the current prices.
A monster box of eagles is less than 10,000
It’s an insurance policy....
Gold’s up to 2013 levels... something’s up...
If the Chinese think they can attack the dollar as reserve currency they’re wrong. ‘They’ve already sold a lot of our debt so their old leverage is gone... and we can ride this out longer than they can.
We should work out our trade problems and stop this insanity. They’ve ripped us off long enough... who wants to fight for the right to be a crook? No they can NOT steal from us anymore.
I wouldn’t be surprised if the Chicoms banned private gold holdings for this very reason.