It could..in theory, but its not going to happen all that quickly.
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It could..in theory, but its not going to happen all that quickly.
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hard to say but I think once it starts it will spiral pretty quickly. once oil goes the jig is up and there are a lot of forces pushkng that one. all it takes is the inflation that all this fiat money has to bring to kick in. and when I read that the administration is looking to inflation to kick start the economy, that tells me that they see the spike hitting soon and they are trying to spin it as a good thing. now thats scary.
Dr.Who
Well-Known Member
We are the reserve currency largely because of an oil agreement that countries participating must hold a certain amount of US funds. But as we print more money holding our currency becomes less attractive. China has already hinted that they want us to stop being the reserve currency. As long as QE continues we hasten the day when the rest of the world gets fed up.
China would obviously like this, but there is nothing currently that could really offer any alternative. We certainly are making bad choices and pushing up the day when this could occur, but I still would not estimate that this is any time in the near future.
Texas_tea
Well-Known Member
I believe ..... this is intentional via the Obama regime and that "day" may be closer than you think!
Dr.Who
Well-Known Member
I was reading this morning that China is accumulating gold. I dont understand why but once they own about 5000 tonnes, which they probably do right now, then they have the ability to compete with other nations to determine which is the worlds reserve currency. I don't have to understand why to see that the intentionally bought all that gold so they would be in position to determine who the reserve currency is.
China is buying gold to strengthen their currency while we are printing our money which weakens ours. meanwhile they have accumulated the 5000 tonnes. Then we saw that Pres Obama et al sold 200 m grams of gold so that the price would not skyrocket and show the world how weak our currency is. I wonder if any of that gold will end up in China? Anyway, I don't see how the US can continue to print money, manipulate gold prices and successfully wage this currency war.
IMO, we just don't have enough people working and producing and paying taxes to be productive enough to have a strong currency. all the QE in the world is not going to make us strong as a nation if our people are not strong individually as workers.
China solved that problem first by forcing people to work (probably having a near zero unemployment rate) and weakening their currency to ensure a positive trade balance for them. now that everyone is employed and they are manufacturing things full throttle they can shift focus and take control of the world reserve currency to strengthen theirs. We too should have been focused on strengthening our workforce instead of social programs that weakened it. What good is it to provide affirmative action if it causes a super high unemployment rate and our dollar loses half of its buying power over time?
Dr.Who
Well-Known Member
Historically every country that has had major currency problems thought it would never happen to them. The inflation that is caused by QE expands exponentially so it starts out small and snowballs.
we literally doing everything we can to bring on our collapse. mrs thatcher pointed out that socialism was fine til you run out of other peoples money. we crossed that line years ago and kept running toward the cliff full tilt.
Texas_tea
Well-Known Member
Choose the muslims, choose the muslims .............
Who does Indonesia need more ? Wealthy Australia right next door or nobody ?
Their help would be nice but it us not hecessary. Moreover ut is not in their interest to help as this trade is lycrative forthem. But I thought this was settled with PNG taking them ?
Cruella
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We could keep them out of our country, but the liberals want them for their votes. Of course we have no jobs for them, but that doesn't seem to matter to the liberals.
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Cruella I am not sure you are using liberal in the American sense. Our main conservative party calls itself Liberal. It is true that the previous labor government and the new Liberal government says the boat people will go to New Guinea but many do not believe them , and some bats arte still coming.
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