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SeaGypsy wrote:Na, the dollar can go to sh#t without creating a glassbowl where American cities were. The best thing about this is that there is nothing the US can do to enforce their immoral embargo. The great plan at total world domination has only 1 brake/ it cannot print oil. Nor can it justify forcing other nations to trade in it's currency. Really it's amazing the dollar reserve status (really only based on an OPEC treaty) has been held up and lasted so long.
ralfy wrote:The problem is that most recent U.S. incursions have led only to increasing war costs for the country, and ironically passed on to sheeple. Meanwhile, China and others continue to set deals with new authorities in Afghanistan, Iraq, and other countries.
What makes matters worse is that probably 40 pct or more of U.S. war costs are being funded through foreign loans, with the interest alone impossible to pay. Given it, it should not be surprising if the U.S. military starts turning on U.S. sheeple, especially given the imposition of more draconian measures and the irrelevance of things like voting rights.
Finally, the same thing will take place for other military powers. That is, armed forces will follow the local populace only as long as the vote matters and the former will obey the government, if not the financial elite. Otherwise....
seahorse3 wrote:I Now, it seems the US risk the fate accompli of the long feared dollar demise by in fact, forcing our biggest holder of US dollars to use something other than dollars to buy Iranian oil. What a retarded move. Now, the dollar may not have kept its reserve status forever, but how was this smart? The blowback from this is to obvious. These US politicians aren't retards to not see they risk the dollar on this move. .
Plantagenet wrote:seahorse3 wrote:I Now, it seems the US risk the fate accompli of the long feared dollar demise by in fact, forcing our biggest holder of US dollars to use something other than dollars to buy Iranian oil. What a retarded move. Now, the dollar may not have kept its reserve status forever, but how was this smart? The blowback from this is to obvious. These US politicians aren't retards to not see they risk the dollar on this move. .
Its the Obama administration. What do you expect?
NickyBoy wrote:And when faced with an external threat, your first instinct is to try to score points off each other in petty partisan politics.
You are an excellent example of why your country is in trouble.
In a move towards internationalising the yuan, the State Council said yesterday it will unveil an operational plan this year to make the currency fully convertible under capital accounts.
The plan is likely to include a clear-cut time frame.
The cabinet also said it would establish a comprehensive system for individuals' outbound investments, indicating that Beijing would make a renewed effort to relaunch the "through train" scheme allowing mainlanders to directly buy Hong Kong stocks - a plan that was scrapped in 2007. While the yuan is already convertible under the current account, covering trade, the capital account, which covers portfolio investment and borrowing, is closely controlled.
The announcement, which followed a meeting chaired by Premier Li Keqiang , indicated the leadership may already have drafted a time frame for a freer capital flow. It had been speculated earlier that full convertibility would come by 2015.
The State Council said the decisions at the meeting were in compliance with directives from the Communist Party's Central Economic Working Conference in December chaired by President Xi Jinping .
"The statement shows the leadership has attached great importance to the convertibility issue and the operational plan will give the all-clear for liberalisation," said Li Huiyong, chief economist with Shenyin Wanguo Securities.
Global and domestic economic conditions have pushed the leaders to accelerate the pace for reforms.
In 2007, Beijing first announced its ambition to internationalise the yuan and promote its use worldwide in step with China's rising economic heft.
Liberalisation of the capital account would allow businesses or individuals from home and abroad to freely convert their currencies to buy assets and equities across the border. However, it is likely that, at least initially, the exchange of foreign currencies would still be subject to restrictions by regulators to prevent an entirely free flow of capital.
Beijing opened the current account in 1996, allowing companies to exchange foreign currencies for trade deals. The central bank put full convertibility on the agenda in 1996, with 2000 as a target date, but the Asian financial turmoil derailed the plan.
As China integrates further into the global economy, with domestic capital seeking fresh markets and foreign funds gravitate to the mainland, an open capital account would facilitate capital flow and investments.
"The meeting discussed a lot of issues, but it's not easy to get all of them done," said Industrial Bank chief economist Lu Zhengwei . "The thing that Premier Li is set to do in the near term is to reduce administrative approvals."
ROCKMAN wrote:...there is one thing I do know for sure: the Chinese govt is calling all the shots in these matters so I can only assume all these diverse pieces fit together in their long term plan. Which has always been their advantage over the rest of the free market system where each component focuses on its own interest and not the collective good of the entire system.
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