China has become the world's second-biggest economy

[CUBert]

Chinese economy overtakes Japan - Business - Al Jazeera English


Chinese economy overtakes Japan

China has become the world's second-biggest economy after the US, pushing Japan to third place in 2010.

 

[captain morgan]

Looks like China will be having to get with the program in terms of WTO, fair trading practices, etc... There's nothing like mutual dependency to generate a good ole Mexican stand-off i terms of trade

 

[petros]

Looks like China will be having to get with the program in terms of WTO, fair trading practices, etc... There's nothing like mutual dependency to generate a good ole Mexican stand-off i terms of trade

And now China doesn't need a reserve currency to do trade, the relationship is over. They no longer need to w hore themselves.

 

[captain morgan]

That reserve currency only lasts until the supply runs out and as it is the American currency, the US is in the enviable position to manipulate the supply and therefore the value of that dollar... Hell, the Chinese gvt was recently rattling their sabre about that.

 

[petros]

That reserve currency only lasts until the supply runs out and as it is the American currency, the US is in the enviable position to manipulate the supply and therefore the value of that dollar... Hell, the Chinese gvt was recently rattling their sabre about that.

What good is a money supply if nobody any longer accepts it? If you don't have pesos before you head into Mexico good luck spending them or exchanging for a fair rate. The banks aren't taking them so resorts and bars are nervous.

 

[MHz]

Chinese economy overtakes Japan - Business - Al Jazeera English


Chinese economy overtakes Japan

China has become the world's second-biggest economy after the US, pushing Japan to third place in 2010.

I hate to point this out but maxing out your debt every single year does not mean you have a vibrant economy.

 

[captain morgan]

What good is a money supply if nobody any longer accepts it? If you don't have pesos before you head into Mexico good luck spending them or exchanging for a fair rate. The banks aren't taking them so resorts and bars are nervous.

But everyone does accept it. In fact, one might say that it is the closest thing that we have to a world currency.

In terms of Mexico, its been a while since I have visited, but I'd wager that things haven't changed much in that they prefer the greenback to the Peso

I hate to point this out but maxing out your debt every single year does not mean you have a vibrant economy.

You're right. But this isn't about debt, it's about the trading platform (ie Greenback). Further, the Chinese have been buying up US dollars for years when teh dollar was strong. Today it is weaker and they (the Chinese) have (relatively) lost money on the FX exchange

 

[MHz]

Today it is weaker and they (the Chinese) have (relatively) lost money on the FX exchange

Only because they haven't tried collecting that debt yet. All those Federal blocks of 'heritage/wildlife lands' will also be down in value to compensate for the decline of the dollars worth.

 

[petros]

But everyone does accept it. In fact, one might say that it is the closest thing that we have to a world currency.

In terms of Mexico, its been a while since I have visited, but I'd wager that things haven't changed much in that they prefer the greenback to the Peso




You're right. But this isn't about debt, it's about the trading platform (ie Greenback). Further, the Chinese have been buying up US dollars for years when teh dollar was strong. Today it is weaker and they (the Chinese) have (relatively) lost money on the FX exchange

Mexican Government successfully sheds the US Dollar from its economy

February 3rd, 2011

Von Helman

Mexico has always considered the US dollar almost a secondary currency to their Peso as the fact that billions of US dollars spent their way through the Mexican economy in 2009 and 2010 which speaks for itself, but sometimes even the best of friendships come to an end.

The Mexican government in September 2010 enacted a new law which basically restricts the use of US Dollars for almost all purchases inside of Mexico.

In early 2010 travelers and visitors could shop at many of the large US corporations inside of Mexico such as Wal-Mart, Home Depot or even one of the hundreds of American food establishments such as McDonalds or Dominoes Pizza and pay for their meal using US Dollars but under the new law using US Dollars is no longer an option.

My kid is in Cabo as we speak. I had to drop some money on her credit card yesterday. No est bueno.

 

[captain morgan]

Only because they haven't tried collecting that debt yet. All those Federal blocks of 'heritage/wildlife lands' will also be down in value to compensate for the decline of the dollars worth.

I don't really see the relevancy in that issue... Those lands will never be sold off regardless of the economic situation.

 

[petros]

China and Russia do zero oil sales in US dollars. They once used to but not any more.

 

[Said1]

Their not the only ones, the Yen is appreciating - although the Ruble will not be used just yet etc, etc. There are several types of currencies being used, I guess it depends on it's value and oil prices.

 

[captain morgan]

China and Russia do zero oil sales in US dollars. They once used to but not any more.

Any business that they do in North America are (almost exclusively) done in USD.

To this day, the Chinese currency is tightly controlled and rarely traded in Western markets.

 

[petros]

Any business that they do in North America are (almost exclusively) done in USD.

To this day, the Chinese currency is tightly controlled and rarely traded in Western markets.

Really? Seen the price of silver since they told their proletariat too offload any US currency and start investing in silver and copper? HSBC won't touch US cash with a bamboo pole. What about the already off loading off mas amounts of treasury bonds? Remember the cash from clunkers program where Obama handed out money for used cars? ALL of that steel went straight to China as payment because they refused T-Bills

They hold the US by the balls.

 

[MHz]

I don't really see the relevancy in that issue... Those lands will never be sold off regardless of the economic situation.

They already have been. Let the 90% who are not the elite to die off in a 5 year campaign of starvation/poison/shooting and China has an open country with a population that would gladly serve China's wishes or the new immigrants will just kill them off like we killed off the Indians when Europe claimed the land as theirs. The issue isn't what language we end up speaking it is if we will have a tongue that wags at all.

[FONT=&quot]CRITIQUE OF[/FONT]​

[FONT=&quot]“Feds Grant Eminent Domain as Collateral to China for U.S. Debts.”[/FONT]​

[FONT=&quot]by Bernadine Smith[/FONT]​

[FONT=&quot] [/FONT]
[FONT=&quot]This is written in response to criticisms regarding the article on eminent domain being circulated, entitled: "Feds Grant Eminent Domain as Collateral to China for U.S. Debts." Whether it is based on information gained or not, the circumstances tie into facts that need to be taken into consideration, and it most likely characterizes reality. In the least it could be a warning of circumstances which need to be taken into consideration. The thoughts it evokes is something dreadful, but these possibilities have to be dealt with! Let's examine the similarity to the facts: [/FONT]
[FONT=&quot]http://www.libertygunrights.com/CritiqueOfEminentDomain.html
[/FONT]

 

[Said1]

It's easier to do business with a country in their own currency instead of raising the funds abroad or exchanging. At little international competition never hurt anyone anyway, right? :lol:

 

[captain morgan]

They already have been. Let the 90% who are not the elite to die off in a 5 year campaign of starvation/poison/shooting and China has an open country with a population that would gladly serve China's wishes or the new immigrants will just kill them off like we killed off the Indians when Europe claimed the land as theirs. The issue isn't what language we end up speaking it is if we will have a tongue that wags at all.

[FONT=&quot]CRITIQUE OF[/FONT]​

[FONT=&quot]“Feds Grant Eminent Domain as Collateral to China for U.S. Debts.”[/FONT]​

[FONT=&quot]by Bernadine Smith[/FONT]​

[FONT=&quot]This is written in response to criticisms regarding the article on eminent domain being circulated, entitled: "Feds Grant Eminent Domain as Collateral to China for U.S. Debts." Whether it is based on information gained or not, the circumstances tie into facts that need to be taken into consideration, and it most likely characterizes reality. In the least it could be a warning of circumstances which need to be taken into consideration. The thoughts it evokes is something dreadful, but these possibilities have to be dealt with! Let's examine the similarity to the facts: [/FONT]
[FONT=&quot]http://www.libertygunrights.com/CritiqueOfEminentDomain.html
[/FONT]

Sorry, but I don't consider "what ifs" as fact.

They hold the US by the balls.

Bottom line... They got each other by the balls.

Mexican stand-off

 

[petros]

Yeah the US ends up like Mexico

 

[MHz]

My kid is in Cabo as we speak. I had to drop some money on her credit card yesterday. No est bueno.

If you both use the same bank you could have her account added to you account as a 'bill payment' (without the 3 day delay)

 

[captain morgan]

Yeah the US ends up like Mexico

That's life in the big city