China will not be lending the US much more money, wants US currency replaced!

[richardhutnik]

Viper1 said:

Replacing the world currency is no easy thing to undertake and would require many, many years to transition. Even as bad as the US dollar is right now, it's still the most stable of the major currencies.

I agree with China on the halting the purchase of T-bonds (which I think they should have stopped doing many years ago) but I don't think they'll bet able to get a new reserve currency standard going unless the US dramatically implodes.

Have wonder how the heck anyone is going to go: "Hello world!  Welcome to your new FIAT currency".  Are they suddenly going to come up with some currency backed by gold or some other metals, in order to get people to use it?

Will see what happens to China if they halt purchasing T-Bills, or try not to use the dollar in any capacity.  Looking at China's currency to then float on the Forex exchanges, as they decouple their currency to the dollar?  Get ready for equalization and China to slit its own throat in the process.  China has rose on the back of America's debt.