Guest:
Login
|
Register
|
Search
|
FAQ
Chinadaily BBS
»
News Talk
»
Chinese economy
» The Almighty USD
Last Thread
Next Thread
25
1/2
1
2
>
Subject: The Almighty USD
Visited forums ...
Friendship, Love, Relationships
Easy Time 休闲英语
Translation Tips 翻译点津
World Affairs Today
Media download 下载区
Free Talk
Tibet Issue
United States
Fun
China Today
satsu_jin
Super Member
UID 138675
Digest Posts 0
Credits 11619
Posts 10280
Registered 2007-6-26
Location 日本国東京都
Status
Online
The Almighty USD
Who is calling the shots in Russia?
Russia’s Kudrin Signals No Alternative to Dollar's Global Status
Bloomberg
Russian Finance Minister Alexei Kudrin said the dollar is in “good shape,” further affirming that there’s no substitute for the world’s reserve currency.
Kudrin rushed to reassure investors of Russia’s confidence in the dollar just days after his boss, President Dmitry Medvedev, questioned its global status, joining China’s central bank Governor Zhou Xiaochuan in suggesting the world may need another benchmark for settling international debts.
“It’s too early to speak of an alternative,” Kudrin said in an interview two days ago in Lecce, Italy after meeting officials from the Group of Eight nations.
Kudrin’s comments underscore the dependence of Brazil, China, Russia, and India on the currency of the U.S., the world’s largest economy and a $2.5 trillion export market. Even as some of their leaders questioned the dollar’s status, the four nations increased foreign reserves by more than $60 billion in May to limit their currencies’ gains and support their exports. They now have combined reserves of $2.8 trillion and are among the largest holders of Treasuries.
“At this point there’s no alternative to the U.S. dollar in terms of deep liquid markets and trading 24-7 globally,” Michael Woolfolk, senior currency strategist at the Bank of New York Mellon in New York, said yesterday in a telephone interview. “Nothing even comes close to the dollar in terms of reserve status.”
2009-6-15 03:08 PM
#1
interesting
(Steven Schreiber)
Super Member
UID 144857
Digest Posts 0
Credits 6536
Posts 6376
Registered 2007-9-9
Status Offline
Duh. It's my continuous refrain.
2009-6-15 05:51 PM
#2
Kbay
Senior Member
UID 196200
Digest Posts 0
Credits 3453
Posts 3172
Registered 2009-2-4
Status Offline
QUOTE:
Originally posted by
satsu_jin
at 2009-6-15 15:08
Who is calling the shots in Russia?
Russia’s Kudrin Signals No Alternative to Dollar's Global Status
Bloomberg
Russian Finance Minister Alexei Kudrin said the dollar is in “good shape,” ...
"Who is calling the shots in Russia?"
Russia is a disfunctional society, with a government that's totally out of touch with reality!
Putin's biggest mistake was to pretend Russia a demoncretin country.
Putin, a KGB trained pony, his role as President was excellent.
He gives out orders, and Medvedev enacted them into law.
In the reverse PM role, he has been disappointing! Not really made for the 'give and take' part.
Hence the left feet doesn't know what the right hand wants in his Government.
Apart from commodities and a few old jets, what else has Russia to export?
It needs to convert its oil for the most liquid money available; and that's the Dollar!
China on the other hand can barter with its numerous homemade products for commodities or hi-tec products, and avoid the need role of the dollars.
A two way barter system is a good way for China's to lessen its dollar reserve.
2009-6-15 06:20 PM
#3
totothedog
Senior Member
UID 147490
Digest Posts 0
Credits 3194
Posts 2793
Registered 2007-10-13
Status Offline
Yeah, Right Until Russia Says it's Dumped all its dollars
Russia and Brazil have just said they're diversifying from US Treasuries and China has called for the SDR to diversify too.
The dollar is finished.
2009-6-15 06:22 PM
#4
interesting
(Steven Schreiber)
Super Member
UID 144857
Digest Posts 0
Credits 6536
Posts 6376
Registered 2007-9-9
Status Offline
"Diversify" hasn't meant any serious change, however. The amounts are negligible.
2009-6-15 06:31 PM
#5
satsu_jin
Super Member
UID 138675
Digest Posts 0
Credits 11619
Posts 10280
Registered 2007-6-26
Location 日本国東京都
Status
Online
QUOTE:
Originally posted by
totothedog
at 2009-6-15 19:22
Russia and Brazil have just said they're diversifying from US Treasuries and China has called for the SDR to diversify too.
Yes, they invest ten or twenty billion $ into the IMF, so does China with 40 or 50 billion US$. This is no diversification. That's not more than one month's forex surplus. Matter of fact is that there is
NO
alternative, at least not yet. .
2009-6-15 09:01 PM
#6
pjtran
(陳青龍 aka 真多花色)
Super Member
UID 119233
Digest Posts 0
Credits 6616
Posts 5074
Registered 2006-12-2
Location 唐人街
Status Offline
3 strikes you're out...
the world needs at least 3 sort of reserved currencies not just the USD itself...i guess we all can see it very clearly now
2009-6-15 10:34 PM
#7
Kbay
Senior Member
UID 196200
Digest Posts 0
Credits 3453
Posts 3172
Registered 2009-2-4
Status Offline
I guess the Gold Standard will make a come back sooner rather than later.
2009-6-15 10:44 PM
#8
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
Reply #1 satsu_jin's post
Top 15 exporter to the USA. (2008)
1. China $337.8 billion, surplus US$266.3 billion.
2. Canada $335.6 billion, surplus US$74.2 billion.
3. Mexico $215.9 billion, surplus US$64.4 billion.
4. Japan $139.2 billion, surplus US$72.6 billion.
5. Germany $97.6 billion, surplus US$42.9 billion.
6. UK $58.6 billion, surplus US$4.8 billion.
7. Saudi Arabia US$54.8 billion, surplus too!
8. Venezeula US$51.4 billion,
9. South Korea US$48.1 billion, surplus US$13.3 billion
10. France US$44.0 billion, surplus US$15 billion
11. Nigeria US$38.1 billion
12. Taiwan US$36.3 billion, surplus US$11 billion
13. Italy US$36.1 billion
14. Ireland US$31.6 billion
15. Malaysia US$30.7 billion
That's 75% of USA total imports in 2008.
ha ha ha
Everybody depends on the USA for their trade surplus. What we worry about is a ERROR run on the US$. It will really cause a big ruckus and disrupt global trading!
I wonder, does the Amerikan Regime buy almost everything they use?
No doubt, the AMERIKAN ARMED FORCEs on those oil fields, and on those protectorates of Germany, Korea and Japan is pretty crucial.
as is the link to the British Club with their banking system which direct cash back to the United States is vital.
Everybody, including China is BRIBED to accept the Amerikan DOLLAR as forex reserves.
ha ha ha
Green DRagon
Game Master
2009-6-16 12:58 PM
#9
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
If nations dumped the DOLLAR, they must be ready to replace...
...the dollar as global chief forex reserves, and be able to access the resources "lock in" by the Amerikan Regime and it's PIPELINE GUILD network.
ha ha ha
So, we do need to produce our own NATIONAL MINTING to sustain our domestic national economy.
but FOREIGN FREE TRADE which has been basis of global prosperity will be hurt, and still unable to access the crucial energy supply controlled by the United State. The Amerikan most advanced rivals are it's protectorates.
so, GIRTH YOU LOINs! Amerikan Regime is powderful!
ha ha ha
Green DRagon
Game Master
note: China can expand domestic credit to grow, but eventually it would be faced with FOREX SHORTAGEs, to import the needed Crude oil, Gas, and Ores once it's labour and other cost becomes bigger. I reckon at level US$5,000 per capita (2006 prices) would be the level where it's exports would start to weaken, probably around 2018!
2009-6-16 01:06 PM
#10
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
Dollar collapse is a possibility during that period.
But the controlled of key states would mean recovery is possible.
It will just wipe out Amerikan Debt.
unless the other 4 powers are willing to go to war to dislodge the Amerikan Regime from it's protectorates, especially the crude oil producing regions!
It's hard to imagine such a scenerio. Would the Amerikan Regime rapidly produce a new currency to pay for his huge armed forces, or maybe strong armed it's protectorates to pay for their military. Rather a "difficult scenerio"
GIRTH YOUR LOINs!
Green DRagon
Game Master
2009-6-16 01:13 PM
#11
satsu_jin
Super Member
UID 138675
Digest Posts 0
Credits 11619
Posts 10280
Registered 2007-6-26
Location 日本国東京都
Status
Online
QUOTE:
Originally posted by
greendragon
at 2009-6-16 13:58
Top 15 exporter to the USA. (2008)
1. China $337.8 billion, surplus US$266.3 billion.
2. Canada $335.6 billion, surplus US$74.2 billion.
3. Mexico $215.9 billion, surplus US$64.4 billion.
4. ...
From the surplus figures presented it seems that only ranks 1 to 5 are important. The others are 'also run'.
2009-6-16 01:50 PM
#12
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
Reply #12 satsu_jin's post
Told you so, only Mexico, China seems DANGER for USA.
Others have troops in place in their capital cities, very likely to be disciplined.
While British Club needs the Amerikan Defisit to run our Banking Business.
Also look at the OIL SUPPLYING states too, ALSO quite significant.
ha ha ha
Green DRagon
Game Master
2009-6-16 02:00 PM
#13
totothedog
Senior Member
UID 147490
Digest Posts 0
Credits 3194
Posts 2793
Registered 2007-10-13
Status Offline
They're only holding the doors open
. . . until they all get out of the dollar.
Although Medvedev said Russia will diversify out of US treasuries, his finance minister is saying, not yet to avoid a kollapse until they all get out.
China, Russia, Brazil and now Mexico too, have all said they will diversify, offering to buy International Mobster Fund bonds instead, presumably denominated in SDRs which at the moment are still 44% Great Satan dollars and 11% Poodles.
2009-6-16 11:39 PM
#14
Kbay
Senior Member
UID 196200
Digest Posts 0
Credits 3453
Posts 3172
Registered 2009-2-4
Status Offline
QUOTE:
Originally posted by
greendragon
at 2009-6-16 14:00
Told you so, only Mexico, China seems DANGER for USA.
Others have troops in place in their capital cities, very likely to be disciplined.
While British Club needs the Amerikan Defisit to run ...
How much will Malaysia cost?
This may be the quickest way to empty China's mighty dollar FX reserve.
2009-6-17 12:35 AM
#15
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
Reply #15 Kbay's post
Exactly!
That's the idiocity of it all!
So, that why the gold, crude oil and minereal stockpile as well.
SAFETY!
We must be aware of all the gaming above so much rubbish in the global media.
Green DRagon
Game Master
2009-6-17 12:49 PM
#16
satsu_jin
Super Member
UID 138675
Digest Posts 0
Credits 11619
Posts 10280
Registered 2007-6-26
Location 日本国東京都
Status
Online
China "may buy more US Treasuries"
The US$ is still irresistible.
A F P
China may buy more US Treasury bonds but Washington must take action to ensure the safety of foreign countries' assets, a former Chinese central bank governor said.
"In the short term, if our foreign exchange reserves rise and the US dollar remains stable, China will probably increase investment in the US Treasury bonds at appropriate times," said Dai Xianglong in an essay.
"However, the US government should adopt practical measures to live up to its commitment to ensuring the safety of foreign assets," the essay, published by the China Finance magazine Wednesday, said.
Dai is currently chairman of the Social Security Fund, China's national pension fund, which had a total asset value of 563 billion yuan (82.3 billion dollars) by the end of 2008.
Dai, 64, was governor of the central bank from 1995 to 2002, helping to steer the Chinese economy through the Asian financial crisis in the late 1990s.
His comments came after China reduced its US Treasury holdings in April for the first time in nearly a year.
According to some local experts, this reflected rising concern that the value of Chinese assets could be battered by a growing US budget deficit.
According to US Treasury data issued Monday, Beijing owned 763.5 billion dollars in US securities in April, down from 767.9 billion dollars in March.
China's foreign exchange reserves, the world's largest, stood at 1.95 trillion dollars at the end of March, official data showed.
More than 1.5 trillion dollars in the reserves are held in US securities, including agency and corporate bonds as well as equities, according to the latest estimate by Standard Chartered.
2009-6-18 08:11 PM
#17
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
Amerikan kongfu is very interesting and effective.
Whether is CRUCIFICATION kongfu.
or SANCTION Kongfu, and their adaptation of Middle Eastern, South Asian, Chinese kongfu as well.
We have to prepare to absorb all kinds of possible shocks.
Green DRagon
Game Master
2009-6-19 12:42 PM
#18
greendragon
Super Member
UID 53124
Digest Posts 0
Credits 15679
Posts 15225
Registered 2005-1-13
Status Offline
Balancing each other tends to create very funny situations!
ha ha ha
hopefully peaceful
Green DRagon
Game Master
2009-6-19 12:52 PM
#19
satsu_jin
Super Member
UID 138675
Digest Posts 0
Credits 11619
Posts 10280
Registered 2007-6-26
Location 日本国東京都
Status
Online
QUOTE:
Originally posted by
greendragon
at 2009-6-19 13:42
We have to prepare to absorb all kinds of
possible shocks
.
Shock absorbers are available from Chongqing AOK Shock Absorber Co., Ltd.
Just try this product.
2009-6-19 09:40 PM
#20
25
1/2
1
2
>
Printable Version
|
Email to Friend
|
Subscription
|
Favorites
Forum Rules
Feedback
Privacy
Copyright By chinadaily.com.cn. All rights reserved
