Quote:
Originally Posted by GatorB
Does anybody fucking read? They're not talking about replacing the US dollar as America's currency. geez!
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Of course not. They are talking about not using the dollar as the world currency for trade. That would mean a total collapse of the USD and probably send the USA into a serious downward spiral. Think of it like this, one day you will wake up and all the money you have in the bank will be worth maybe 20% of what it was the day before. Maybe less.
The trick is, they have about 2 trillion dollars worth of US treasury bonds. So they will have to cut their losses if they are going to get out of the USD. That's a huge hit for them. Nothing they couldn't recover from, but a blow none the less.
When / if China pulls the plug on the dollar, it's curtains for the USA.