By using this site, you agree to our Privacy Policy and our Terms of Use. Close

Forums - Politics Discussion - China will not be lending the US much more money, wants US currency replaced!

MARCUSDJACKSON on 07 August 2011

hell wht are we going to change it to?



 Zarx's unofficial The Witcher 3    

Official Playstation Vita Thread!

write reveiws, articles, share thoughts, and expand on discussion like never before on gamewise.co/brainwaves

Around the Network
dahuman on 07 August 2011
kitler53 said:
SpartenOmega117 said:
Rpruett said:
SpartenOmega117 said:
china is the new superpower so it can do what it wants. at least that's what the US did when it was a superpower.

They have a long, long way to go till they reach our status.  Don't believe all the doom day non-sense.  They are rapidly becoming a strong country, but in the grand scheme of things, they have a very long way to go still and that's to even be at our 'current' state.


If there was anything i learned from taking WHAP class is that China has always throughout history been a major power. China is basically a superpower now. They don't have a long way to go. Almost every country bascally depends on China to make everything. What will happen if all of that gets cut off?

and china depends on almost every country to export their shit ... what will happen when that get's cut off?

... i go to china on occasion and trust me, they have a long long way to go to reach the same level as the US is even in our current damaged state.  unemployment is high, the workers are realizing they are being exploited, an they are getting very angry.  china has just as many if no more woes to worry about as the US and everyone else atm.

Yeah, I give them about 20 more years before the country advances to a more completed stage, they are moving pretty damn fast though, literally skipping generations in tech since they didn't even have a lot to work with on the civillian level in the past, it's really fucked up to see people with smart phones and the most disgusting public restrooms I've ever witnessed in my life time all together though, there is no balance on their advancements yet.



snakenobi on 07 August 2011
Rath said:
snakenobi said:
Viper1 said:
snakenobi said:
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.


stable?

they keep it that way by borrowing

 

no currency is stable for long

the country needs to keep it at the level of borrow

5 midgets are standing in line.  The one at the end is the tallest of all 5.  Does that mean he's tall or just taller than the others?


When I said the US dollar was the most stable, that doesn't mean it is stable, just more so than the other major curencies.


and i said its not

us government is just keeping it stable but that won't go for long as they can't just keep on borrowing.

you have to repay the debt too.

 

dollar is stable as US isn't the country it used to be and the government is borrowing to keep it at the old rate

The only other really major currency in the world is the Euro and compared to that the US Dollar is rock solid.

Also a world reserve currency would probably turn out badly - it'd require a whole lot of leaders from a whole lot of countries to agree on stuff occasionally.

rock solid...................lmao

they have $14trillion of debt and set to grow more with the country giving jobs and production to other countries.

USA is a joke at this point in time

 

USA can keep borrowing but one day when other countries are developed like china,they wills top lending money to usa

USA is nowhere near stable,they are jst prolonging the the default

 

and a currency significance has nothing to do with its stability so stop comparing euro and dollar.



yo_john117 on 07 August 2011

The US currency would be ok if some of the leaders hadn't been dumbasses and gone away from the gold/silver standard.

I believe no country has ever survived more then 100 years without a gold/silver standard.



Kasz216 on 07 August 2011
Lostplanet22 said:
It is not only China or UK that want to replace the Dollar basically it is half the world who wants, only need the solve the question with what they will replace it;

Indeed, there just isn't a viable choice.

I mean, people talk about creating an "international" currency as a stand it....

Except when you see the recent problems with the Euro... it would just be like that but 100 times worse.



Around the Network
Kasz216 on 07 August 2011
Final-Fan said:
I'm no economist but I expect they are just trash talking.

Mostly trash talking.  I mean, the whole "Replace the Dollar" has been the talk of countries for at LEAST a decade.  I started reading about it during Bush, but I'm pretty sure talk was going on under Clinton too.

The problem is, there really isn't any better thing to tie it to, no currency is as good, and making up an international currency would be disasterous.

It's just more trash talk intended for the ears of the third world resource markets China is buying into to support themselves.



Kasz216 on 07 August 2011
yo_john117 said:

The US currency would be ok if some of the leaders hadn't been dumbasses and gone away from the gold/silver standard.

I believe no country has ever survived more then 100 years without a gold/silver standard.

I don't think any country has tried too.  Fiat based money systems weren't really in use until the late 1900's as far as i know.

Outside of like... the Yuan Dynasty I think... which I believe lasted a bit over 100 years... but I don't know when they instituted fiat based money.



Venji on 07 August 2011

Well now that the US dollar has fallen, and the Euro is in tatters, it's time to bring back the Pound Sterling as the world Currency - backed by a triple A rated Country.
The rest of Europe really should join the Sterling Zone, with all financial policy decided safely in Westminster.
(Extract from "The Rise of The Second British Empire", Chapter 1)



Playing : PC  AOE, DiRT 2, Runes of Magic, Wings of Prey & Planetside 2  

Wii U : Nintendoland, Super Mario U  & Fifa 2013 demo

DS : Guitar Hero : On Tour


Formerly unknown as Vengi

http://vgchartz.com/profiles/profile.php?id=2331

non-gravity on 07 August 2011
Venji said:
Well now that the US dollar has fallen, and the Euro is in tatters, it's time to bring back the Pound Sterling as the world Currency - backed by a triple A rated Country.
The rest of Europe really should join the Sterling Zone, with all financial policy decided safely in Westminster.
(Extract from "The Rise of The Second British Empire", Chapter 1)

As if the UK isn't running huge deficits

No it's time for the new Dutch-German Deutsch Mark



Netyaroze on 07 August 2011

@rath

I meant relatively rocksolid. So the Euro was in the past relatively solid but the prospect of the weaker Euro Countrys makes it weak because the US future seems brighter ? Europe has its problems but so does US I cant see why one currency should be more solid then the other. people overestimate the economical value of greece and portugal both countrys have an economy as big as a bank.

i need a reason why the outlook for the Euro is weaker then for the Dollar the Eurozone has equal problems to the US.

Sure there are the Piig states but we also have: France, Germany, Netherlands, Austria, Belgium, Luxemburg, Denmark , Finnland, Slovenia, Slovakia,Estland, Cyprus.

I just now read various Articles from the year 2008 to now and actually they say the opposite. The financial world HAS and still thinks (despite the PIIGS problems) the Euro will be the more stable currency. Greenspan said himself the Euro could take away the Dollars reserve Statues and very recently (22 July before the AAA ranking was lost) the world reserve of Euros increased another 0.3% and climbed to 26.3% totals world reserve value. http://www.france24.com/en/20110722-euro-still-worlds-second-reserve-currency-ecb

And a lot of states want rather the Euro then the Dollar as the reserve like China/Russia for example. Since the Euro the Dollar went down from 72% to 61% and the trend continues.

If it would be true that the future Dollar is considered more stable then the future Euro (which it isnt i looked it up just now) why has none of the AAA states in Europe been downranked ? The Dollar is up for harder times then the Euro (as it seems right now)

Both Currencys are as good as it gets to be qualified as a reserve currency (besides the Euro WAS more stable after the first years it doubled its value against the dollar in 12 years and since the most time its ranging constantly between 1.30 and 1.50 Dollar. Besides the stability of a currency is also reflected in its value. There were times at the beggining where you could get just 75 US Cents for one Euro currently you get 1,42. And the value of the Euro didnt increase that much against other currencys MEANING the DOLLAR WAS UNSTABLE NOT THE EURO.

Both currencys have their problems and both can become unstable. But I simply couldnt find evidence that the Dollar was, is, or will be more stable then the Euro.

If it really is and I dont understand what you are talking about please explain to me economy is not my specialty tbh.