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well the pink yaun is prettier
" Anyone can become angry. That is easy. But to be angry with the right person, to the right degree, at the right time, for the right purpose and in the right way - that is not easy." --Aristotle
Yaaaay!
Its a win win if ya ask me.
I mean, anything that speeds us on the path to dollar devaulation, is one step closer to getting back to sound money.
Combine this with a recent interview with Ji Gang, a primary central banker where he states China will not sell U.S. dollars in the short term, however, was clear to say he meant "short term".
It may be time to buy Renminbi. Jim Rogers has been saying it for a year. Seems final decoupling from U.S. dollar could happen anytime now when the Yuan should theoretically skyrocket in value.
Wat d hell, thats unamerican!Originally Posted by Lafayette
Just joking, I couldn't agree more, unfortunately I don't think most people here in the U.S. will agree and understand that.
are there any masonic symbols on them yuans?
best part....
"this reveals, in other words, the persistence among the Chinese authorities of a concept of international trade unchanged since the European mercantilism of the eighteenth century: the wealth of nations is the quantity of gold and silver they possess. The devastating impact of this conception can be illustrated by just one example. According to a "flash" on the Dow Jones Newswire (November 19, 2008) the Chinese central bank is considering increasing its gold reserves from 600 tons to 4,000 [8]. At current prices, 3,400 tons of gold are only 95 billion dollars, compared with reserves at the end of October of 652.9 billion dollars in U.S. Treasury bonds, for total Chinese foreign exchange reserves of over 2 trillion dollars. These rumors are not fully confirmed. If China intended to stockpile that much gold, the price of the yellow metal would skyrocket"
There's a good inteview on NPR about Chinese finance:
http://www.npr.org/templates/story/s...oryId=99039196
http://digg.com/business_finance/Nig..._its_US_Assets
One of the things it discusses is whether or not China will cut us off. Short term - no, since they rely on exports, long term - yes, if the US doesn't get it's financial act in order.
When the Chinese stop buying the US TREASURIES and the world mostly dumps the dollar...
Lookout... here comes the Massive Zimbabwe type Inflation Tsunami!
The American Dream, Wake Up People, This is our country! <===click
"All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
Thomas Jefferson June 1826
Rock The World!
USAF Veteran
if the yen skyrockets in value...yikes....retail here in the US will utterly collapse as imports will become very expensive quite quickly.....then, imagine if the Chinese began dumping dollars at the same time...talk about chaos.
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