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#1
11-07-2007, 10:21 AM
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USA can thank China....
For the dollar going down even more vs CND$ and Euro...overnight there was discussion about China possibly selling up to $500b of the estimated $1trillion in US holdings. CND$ spiked @ $1.10 vs US green back in overnight action if I where American I would be very very worried.
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#2
11-07-2007, 10:27 AM
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Re: USA can thank China....
[ QUOTE ]
For the dollar going down even more vs CND$ and Euro...overnight there was discussion about China possibly selling up to $500b of the estimated $1trillion in US holdings. CND$ spiked @ $1.10 vs US green back in overnight action if I where American I would be very very worried. [/ QUOTE ] I already had to switch from maple syrup to Karo. [img]/images/graemlins/frown.gif[/img]
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#4
11-07-2007, 10:35 AM
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Re: USA can thank China....
Someone should tell China you're supposed to buy low and sell high.
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#5
11-07-2007, 10:38 AM
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Re: USA can thank China....
If China goes through with this proposed sell off....gg US economy for many many years. They will replace with Euro which will only strengthen other markets.
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#6
11-07-2007, 10:47 AM
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Re: USA can thank China....
[ QUOTE ]
If China goes through with this proposed sell off....gg US economy for many many years. They will replace with Euro which will only strengthen other markets. [/ QUOTE ] We could use a good, hard slap in the face and learn a lesson: Don't let anybody get a strangle-hold on us again. And all for a couple of bucks off on a TV.
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#7
11-08-2007, 08:14 AM
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Re: USA can thank China....
Does anyone believe this is related with upcoming war with Iran? China’s US$ reserves are maybe one of their best arguments against the USA. I’d say they would use that weapon as their last escape. Changing too much dollars wouldn’t be profitable for them either, but in case of war against Iran they might be forced to that. That would put the dollar under intense pressure and send U.S. interest rates skyrocketing, especially since the Russians hold another 330B$ in their reserves. After all those reserves in US$ aren't the best option for them anyway (compared with euro or other currencies) and probably many countries be forced to do the same.
Domino effect. Killing me softly scenario. 
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#8
11-08-2007, 08:37 AM
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Re: USA can thank China....
[ QUOTE ]
Does anyone believe this is related with upcoming war with Iran? China’s US$ reserves are maybe one of their best arguments against the USA. I’d say they would use that weapon as their last escape. Changing too much dollars wouldn’t be profitable for them either, but in case of war against Iran they might be forced to that. That would put the dollar under intense pressure and send U.S. interest rates skyrocketing, especially since the Russians hold another 330B$ in their reserves. After all those reserves in US$ aren't the best option for them anyway (compared with euro or other currencies) and probably many countries be forced to do the same. Domino effect. Killing me softly scenario. [/ QUOTE ] I have a much more depressing view of the situation. economic upheavel is a prequisite for regime change in a republic. rb
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#9
11-08-2007, 10:51 AM
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Re: USA can thank China....
Is anyone suprised?
I mean, really. We've been running the money changer scam on the world for four decades. Is it suprising that everyone has wised up and is beginning to not want anything to do with our money if they can help it? This is in addition to intimidation, exploitative relationships, and downright refusal to trade with people we don't like. This is why I have pinned my financial strategy on a ever declining dollar. It will probably be a sound strategy for another decade or two.
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