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Is China trying to get rid of the U.S. $$ as a Gold Standard?


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Old 08-02-2009, 12:03 AM
click click is offline
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Default Is China trying to get rid of the U.S. $$ as a Gold Standard?

I don't feel the "Los Angeles Times" is the pinnacle of unbiased truth but this article on July 27th in the Business section is NOT the 1st time I heard wind of this as follows "Although leaders on both sides have been stressing the importance of cooperation, Chinese leaders have not been shy lately about expressing concern about the dollar's dominance. China has introduced about $95 billion in currency swaps with other countries since December (2009) and floated the idea of an international currency (other than U.S. $) for trade. The moves signal a sharper tone out of Beijing."What are your thoughts on this? Any links would be appreciated.Oh...and I know about how "Gold" is not what U.S. currency is based on any longer...duh.excuse me, "since December 2008..." sorry.

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Old 08-02-2009, 12:03 AM
commerce commerce is offline
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Default Is China trying to get rid of the U.S. $$ as a Gold Standard?

it's true. They own so much, over $800 bil. in U.S.Treasuries. This summit is full of politicians tippy-toeing around the Chinese. Really bad. We let anyone buy our land, property, bribe our reps w/so-called campaign contributions & gifting...now other countries, mostly China own so much of U.S. it's sickening.We let our politicians make deals to benefit themselves and sell our country and ruin our economy to boot. Now China wants to get rid of us now that they've taken as much as they could get when we were instrumental in jump-started their economy. Now they move on to destroy us.
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Old 08-02-2009, 12:03 AM
John John is offline
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Default Is China trying to get rid of the U.S. $$ as a Gold Standard?

China wants to get rid of the USD as the standard trade currency because the USD has become unstable and China now realises the US is going down and will likely never be able to pay it's debt to China. This means China will inevitably forgive a huge portion of the debt.For the future, China and the rest of the world want to trade in stable currencies with countries that repay their debts. They do not want a repeat incident like this. The Euro will likely replace the USD in this regard in the coming years. Investors around the world have lost faith in the USD.It's not just China though. The news in the US always makes it look like China holds all US debt. I guess it's because Americans view China as the enemy so it's more sensational to report on the debt to China. Truth is, Japan holds a bigger protion, but Canada, Russia, India, S.Korea and many others all have lent great deals of money to the US. Nobody in the world is happy with the US government. The US hasn't put even 1 penny against it's debt since 2005. The US government seems to think they can just keep taking, and the world will just go along with it.The USD is dropping which is devaluing the treasury bonds these countries have bought, which in turn forces them to buy more bonds so the US won't print more money. That further increases US debt to these countries. The debt is becoming so large now that it is on the verge of becoming valueless as it can never be repaid. This pushes the world to the point of potential economic Armageddon. Not only does China and the rest of the world want to pull away from the USD, they have to. The US refuses to pay it's debts, therefore they need to cut their losses and invest elsewhere before it gets any worse. They will all take a huge hit, but it must be done. There is no other choice left by the idiots running America. Well, besides war.
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Old 08-02-2009, 12:03 AM
Caribbean Caribbean is offline
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Default Is China trying to get rid of the U.S. $$ as a Gold Standard?

Hi,Why must you American's think negatively about everything China does?********************************************* ****************#1. We are lending you money, when you need it. ************************************************** ************- Canada, Japan, in May 2009 have been sellers of US Treasury notes, while China continues to buy. Which keeps the US dollar afloat.- China says to Obama and Clinton, please make sure "our" US Treasury investments are stable, secure and sound. What is wrong with that?- America we understand is going through a tough time, so are we, and we understand America's success in recovering will lead to our recovery as well. That is why we Chinese continue to support America by lending you money. Vast amounts.Now tell me, why do you have to see this negatively? You're probably thinking China makes cheap goods and kill American jobs etc etc...NOT true. America sells it's products to China just as much. Come here and see how many McD's, Starbucks, there are.
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Old 08-02-2009, 12:03 AM
France France is offline
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Default Is China trying to get rid of the U.S. $$ as a Gold Standard?

Its not just China that wants to get rid of the US standard.The US standard is the main reason for the world economical crisis and why should the standard be in US dollars and other countries fincial health do subjected to it?The is one error of your logic China would still need the US to survive, if the USA went bust so would China. If the USA had no money to spend Chinese exports would drop and it too would go bankrupt. The end effect is that China would became more unstable and the people would because more anti-government.
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Old 08-02-2009, 12:03 AM
Australia Australia is offline
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Default Is China trying to get rid of the U.S. $$ as a Gold Standard?

I'm neither American or Chinese, but why should my country suffer the economical crisis because USA money lenders are greedy. The knock on effect caused by having the standard as the USA dollar as caused much trouble around the world. Why shouldn't I want a system that is more stable.BTW BLATANT and GETACLUE does happen to follow the same pattern of only logging in at the same time.
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Old 08-28-2009, 11:51 PM
JayMay JayMay is offline
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Everyone is trying to export the US Dollar. Nobody seems to want it in their hands anymore. I don't really see that happening though, just because its kind of widely used know. I mean there are some countries that have made USD their main currency. What are they suppose to do if no one else uses it?

I guess we just gotta sit back and see what happens.
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Old 09-14-2009, 09:41 PM
ind ind is offline
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I think the chinese economy is very strong,it does not depend on the us $ too much and they have large deposits of the USD in their banks, i think the economy will rise above us
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Old 03-08-2011, 10:21 PM
sharemanga sharemanga is offline
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If China is doing so, than may be it has some policy matter issues. But in my point of view it is less favorable for US in long run..

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Old 05-25-2011, 08:30 AM
minubilly minubilly is offline
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The is one absurdity of your argumentation China would still charge the US to survive, if the USA went apprehension so would China. If the USA had no money to absorb Chinese exports would bead and it too would go bankrupt. The end aftereffect is that China would became added ambiguous and the humans would because added anti-government.
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