Skip to comments.Pay Attention, This Was A Huge Week For The Yuan Becoming A Global Currency
Posted on 01/16/2011 4:21:57 PM PST by Dubya-M-DeesWent2SyriaStupid!
The big message in Hu Jintao's interview with the WSJ is that China is ready for the yuan to play a larger role in the global economy.
But the interview just caps what was already a big week for the Chinese currency.
For example, China said for the first time that it will low foreign investors to participate in yuan-denominated private equity vehicles.
(Excerpt) Read more at businessinsider.com ...
Some of us don’t want to be future Chinese slaves and will fight on for what’s left of the USA.
May God damn the leadership!
Wonder how Russia will react to this? They are both on the march for power.
Probably explains why gold took a hit...the fed and IMF dumped gold inventory on the market to keep the dollar from collapsing.
May God damn the leadership!
couldnt have said it better
Protecting the economic interests of the United States is one of the primary responsibilities of our government, and is a huge component of national defense. They are failing miserably. China doesn’t innovate, and could easily be taken down economically, IF we had competent people in government and IF we realized that nationally we all do better, and social justice is best served when government gets out of the way and allows Americans to compete and win on their own merits.
Trouble is who is going to actually trade as there is no transparancy to what China is actually doing...it’s all taking their word for it.
Must be running low on domestic greater fools.
chinese BUBBLE...? I have never been so sure about anything:
Obama’s next campaign theme will be, unity in diversity.
Russia saw this coming, that is why a month or two ago they called for a global currency.
Yes,... but Russia is not ‘really’ favorable toward China by any means. Neither trusts each other and they shouldn’t, but they are certainly putting on a show of cosyness non-the-less. This will not have any lasting affect between these two...they both are after the “oil” and other resources for no other reason than the power to control.
Baring a spine in the Republicans back that I don’t think is there, they are preparing for the inevitable collapse of the US Government.
We are adding 10% to the Debt every year. 20% if you don’t include the Debt to SS ($14T vs. $8T). The minimum payment on our debt this year is $464.7billion. If interest rates double, triple or quadruple, it will wipe out one or two of the following, Defense, SS or Medicare.
How much capital will this suck away from our markets, and how bad will it hurt the dollar?
“Protecting the economic interests of the United States is one of the primary responsibilities of our government, and is a huge component of national defense.”
The soundest way to provision for the well-being of Americans is to let Americans provide for themselves. To sacrifice Americans to preserve the Dollar, is not a substitute for the obligation of protecting the American people from harm.
For that reason, there was no central banking. America does not need or require central banking in order to thrive and prosper. All she needs is her people, and they must be paramount.
The defense of the realm, is to provide for the military. The obligation of the government is to enforce contracts throught the judiciary and to maintain the rule of law, such that business and the objects of business can thrive.
Beyond that there is no constitutional obligation.
Surely China has no leaders who as objectionable and damaging as Barney Frank(?)
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