China suggests switch from dollar - GoFuckYourself.com

halfpint · 03-25-2009, 05:56 PM

Will this ever happen ...

China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar.

Central bank governor Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency.

With the world's largest currency reserves of $2tn, China is the biggest holder of dollar assets.

Its leaders have often complained about the dollar's volatility.

China has long been uneasy about relying on the dollar for trade and to store its reserves and recently expressed concerns that Washington's efforts to rescue the US economy could erode the value of the currency.

His speech was, unusually, published in both Chinese and English, signalling it was intended for an international audience.

the whole story here

http://news.bbc.co.uk/1/hi/business/7960620.stm

Libertine · 03-25-2009, 05:58 PM

Of course it will happen eventually. And statements like this might just make it happen a bit faster.

David! · 03-25-2009, 06:00 PM

It can't happen because of reserve issues.
No need for anti America statements here, this has nothing to do with it..

Socks · 03-25-2009, 06:07 PM

GFY taught me everything I know about macroeconomics

Therefore I have no idea.

J. Falcon · 03-25-2009, 06:53 PM

Quote:

Originally Posted by PussyMan

It can't happen because of reserve issues.
No need for anti America statements here, this has nothing to do with it..

retard......

David! · 03-25-2009, 06:54 PM

Quote:

Originally Posted by J. Falcon

retard......

why don't you go fuck your dog?

JC Maldini · 03-25-2009, 08:20 PM

I hear the Al Jourgensen / Ministry music playing.....NWO....New World Order coming soon!!

E$_manager · 03-25-2009, 08:34 PM

can happen, but not in near future

notoldschool · 03-25-2009, 08:36 PM

Quote:

Originally Posted by Socks

GFY taught me everything I know about macroeconomics

Therefore I have no idea.

DWB · 03-25-2009, 10:06 PM

This topic is getting very little coverage in the American media. It's ALL OVER Asian news and as of today, it looks like it very well may be the start to it happening. If it does, it's curtains for the USA.

Barefootsies · 03-25-2009, 10:31 PM

Quote:

Originally Posted by Libertine

Of course it will happen eventually. And statements like this might just make it happen a bit faster.

PornMD · 03-25-2009, 10:44 PM

Quote:

Originally Posted by DirtyWhiteBoy

This topic is getting very little coverage in the American media. It's ALL OVER Asian news and as of today, it looks like it very well may be the start to it happening. If it does, it's curtains for the USA.

Can't wait to see how the dollar does as this starts to unfold, ugh. Not looking good for the U.S.

sexandcash · 03-26-2009, 02:56 AM

(plays "you're a grand old flag" in the background)
high-five US!

The Seduction of Art · 03-26-2009, 06:49 AM

I live near a lake, so I propose bringing back clamshells as currency like they had on Flintstones and B.C.

pornguy · 03-26-2009, 06:50 AM

Funny. Got some double talk in that.

Let me see if I can copy it.

"Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency."

"China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar."

Thats doing the same thing.

just a punk · 03-26-2009, 07:12 AM

Quote:

Originally Posted by halfpint

China suggests switch from dollar

And not only China... Russia is also about to rise this problem on g20. As far as I know, there are many other countries which want to get rid of useles green paper.

cherrylula · 03-26-2009, 07:24 AM

will they use cheap poisonous substances to create the money?

geedub · 03-26-2009, 07:29 AM

get rid of useless green paper to replace with a global fiat monetary system? whats the fucking change here? worthless green paper goes bye bye and new worthless yellow paper is printed?

Twistys Tim · 03-26-2009, 07:29 AM

Quote:

Originally Posted by DirtyWhiteBoy

This topic is getting very little coverage in the American media. It's ALL OVER Asian news and as of today, it looks like it very well may be the start to it happening. If it does, it's curtains for the USA.

Quite right. No demand for the US$ equals devaluation, which in turn creates hyper-inflation. If the US$ devalued, then it would be dropped as the petro-dollar as well (in favor of the Euro, most likely) -- which would cause further devaluation and more inflation.

Having said that, the Chinese would not be happy to see the value of their billions (trillions..?) of US$ turn into monopoly money -- so they would not take any action that would chain react into a devaluation of the US$, I think.

Dirty Dane · 03-26-2009, 07:30 AM

As long there are american oil consumers, it won't happen. But Obama wants to get rid of oil ...

just a punk · 03-26-2009, 10:32 AM

Quote:

Originally Posted by geedub

get rid of useless green paper to replace with a global fiat monetary system? whats the fucking change here? worthless green paper goes bye bye and new worthless yellow paper is printed?

The change is HUGE. The "global fiat monetary system papers" won't be printed in one single coutry

Reak AGV · 03-26-2009, 10:34 AM

Sounds clear, dollar sucks regardless.

David! · 03-26-2009, 12:29 PM

Damn, a lot of clueless fucks here.
This has as much chance of happening as Mother Theresa coming back from the dead and getting married to Elvis...

_Richard_ · 03-26-2009, 12:32 PM

now we know the reason for this 'repression'

with how the euro is doing, i doubt this is going to get much traction

Andy CHOOPA · 03-26-2009, 12:36 PM

The Amero!

buyandsell · 03-26-2009, 12:46 PM

lets all go back to Cowrie shells

just a punk · 03-26-2009, 12:52 PM

Quote:

Originally Posted by PussyMan

Damn, a lot of clueless fucks here.
This has as much chance of happening as Mother Theresa coming back from the dead and getting married to Elvis...

China and Byelorussia already signed on a money swapping deal for their currencies in equivalent of 2.2 billion usd, to avoid using dollar in their mutual trading. Course it's not a big deal at all, but you can consider it as a first signal

03-25-2009, 05:56 PM	#1
halfpint GFY's Halfpint Industry Role: Join Date: Jun 2007 Location: UK Posts: 15,223	China suggests switch from dollar Will this ever happen ... China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar. Central bank governor Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency. With the world's largest currency reserves of $2tn, China is the biggest holder of dollar assets. Its leaders have often complained about the dollar's volatility. China has long been uneasy about relying on the dollar for trade and to store its reserves and recently expressed concerns that Washington's efforts to rescue the US economy could erode the value of the currency. His speech was, unusually, published in both Chinese and English, signalling it was intended for an international audience. the whole story here http://news.bbc.co.uk/1/hi/business/7960620.stm __________________ Get FREE website listings on Cryptocoinshops.net

03-25-2009, 05:58 PM	#2
Libertine sex dwarf Join Date: May 2002 Posts: 17,860	Of course it will happen eventually. And statements like this might just make it happen a bit faster. __________________ /(bb\|[^b]{2})/

03-25-2009, 06:00 PM	#3
David! By the wrath of Agamemnon Industry Role: Join Date: Apr 2004 Location: Miami Posts: 6,501	It can't happen because of reserve issues. No need for anti America statements here, this has nothing to do with it.. __________________ .

03-25-2009, 08:20 PM	#7
JC Maldini Confirmed User Join Date: Dec 2008 Location: New Jersey Posts: 490	I hear the Al Jourgensen / Ministry music playing.....NWO....New World Order coming soon!! __________________ JC Maldini Business Development ICQ: 223 643 Skype: jc_maldini

03-25-2009, 08:34 PM	#8
E$_manager Too lazy to set a custom title Join Date: Apr 2006 Location: pink adult dreams Posts: 13,557	can happen, but not in near future __________________ Enjoy more sales with EnjoyBucks! Homemade: Asian : Ebony : GFs : Voyeur : Nudist : Public : 3D

03-25-2009, 06:07 PM	#4
Socks Confirmed User Industry Role: Join Date: May 2002 Location: Toronto Posts: 8,478	GFY taught me everything I know about macroeconomics Therefore I have no idea.

03-25-2009, 10:06 PM	#10
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	This topic is getting very little coverage in the American media. It's ALL OVER Asian news and as of today, it looks like it very well may be the start to it happening. If it does, it's curtains for the USA.

03-26-2009, 02:56 AM	#13
sexandcash Confirmed User Join Date: Nov 2008 Location: Los Angeles, California Posts: 1,566	(plays "you're a grand old flag" in the background) high-five US! __________________ SexandCash ICQ: 490-947-295

03-26-2009, 06:49 AM	#14
The Seduction of Art Confirmed User Join Date: Feb 2009 Posts: 416	I live near a lake, so I propose bringing back clamshells as currency like they had on Flintstones and B.C. __________________ Custom adult artwork for your business from a veteran artist. Click below or ICQ# 488024725

03-26-2009, 06:50 AM	#15
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,912	Funny. Got some double talk in that. Let me see if I can copy it. "Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency." "China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar." Thats doing the same thing. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

03-26-2009, 07:24 AM	#17
cherrylula lol Industry Role: Join Date: Jan 2002 Posts: 15,969	will they use cheap poisonous substances to create the money?

03-26-2009, 07:29 AM	#18
geedub Confirmed User Industry Role: Join Date: Jun 2005 Location: concrete jungle Posts: 3,488	get rid of useless green paper to replace with a global fiat monetary system? whats the fucking change here? worthless green paper goes bye bye and new worthless yellow paper is printed? __________________ Reliable web host that actually cares, tell em geedub sent ya. Vacares

03-26-2009, 07:30 AM	#20
Dirty Dane Sick Fuck Industry Role: Join Date: Feb 2004 Location: www Posts: 9,491	As long there are american oil consumers, it won't happen. But Obama wants to get rid of oil ... Last edited by Dirty Dane; 03-26-2009 at 07:33 AM..

03-26-2009, 10:34 AM	#22
Reak AGV Confirmed User Join Date: Dec 2004 Location: Unknown Posts: 4,283	Sounds clear, dollar sucks regardless. __________________ Need Mainstream Content and SEO? SEO * Website Copy * Blogs Blogging - PR Work - Forum Marketing - Social Marketing - Link building - Articles 100% Guaranteed Content!

03-26-2009, 12:29 PM	#23
David! By the wrath of Agamemnon Industry Role: Join Date: Apr 2004 Location: Miami Posts: 6,501	Damn, a lot of clueless fucks here. This has as much chance of happening as Mother Theresa coming back from the dead and getting married to Elvis... __________________ .

03-26-2009, 12:32 PM	#24
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Vancouver Posts: 30,986	now we know the reason for this 'repression' with how the euro is doing, i doubt this is going to get much traction

03-26-2009, 12:36 PM	#25
Andy CHOOPA Confirmed User Join Date: Jul 2008 Location: Red Bank NJ Posts: 1,156	The Amero! __________________ Andy Choopa ICQ: 412-203-056 DUAL XEONS W/100 Mbps UNMETERED- $199/ month!!

03-26-2009, 12:46 PM	#26
buyandsell Confirmed User Industry Role: Join Date: May 2008 Location: USA Posts: 692	lets all go back to Cowrie shells