JOKE: China calls for alternate currency to US dollar.

[GoFlyKiteNow]

Only last week the PRC premier went on television with these words " I implore the USA to protect our money invested in USA "...he was referring to the trillion over dollars that PRC has stocked up un US treasury bonds over the last 10 years.

Now the PRC central bank governor calls for an alternate cuurency to the US dollar and offers support for such a move.

Over 98 % of global trade is done in US dollars..and it is so because there is a gaurantee ..backed by a democratic system that is acountable to the people, has an independant judicial and legal system and several independant oversee institutions and above all the right of the people to transparent government. That is the fundamental strength of the USA and its economy.
Besides it has a GDP that is 10 times that of the PRC.

Something which PRC and many other countries dont have.

So , these wanna bes will keep on dreaming ..becoz..when it comes to money
people have no faith in commie regimes and their secrecy.

 

[halsey02]

How about Malaysian Ringgit?..will make Dr.M very happy!!

 

[scoobyhoo]

it's a joke that they are the biggest holder of the us junk bonds.

 

[cowbehcowbu]

How can a nation with t2 T in debt to the world...still PRINTING trillion money within her country, can allowed such disaster to happen by a bunch of crooked and greedy financial vultures,,with hedge funds not regulated and monitored....STILL TO BE USED as the global reserved currencies?????????
Listen to the top economisr ,nible laureates...NOT those stooges from wall street...not even GREENBERGE ..he was resposible with a extremely low interest that INDUCED the subprime debacle..wall street is ruled by GREED AND ONLY GREED..the world cannot trust such a system at all.
China n Russian is calling for a super currency,,not RMB, or Rouble...so be objective in your commentsw..dont trist it
start thinking......everybody...U4 is worthless..if tghe world start dumping it...it has backed BU 12 tRILLION DEBT TO THE WORLD..

 

[red amoeba]

in time - there will be 3 major currencies - RMB, USD and INR (indian rupees).

三国鼎立-三分天下。

USD - Liu Bei - in one corner - power limited
RMB - Cao Cao - rising and threatening the world
Indian rupee - Sun Quan - holding his own

 

[Zombie]

This new currency proposal comes from UN panel.

http://www.reuters.com/article/newsOne/idUSTRE52H2CY20090318

U.N. panel says world should ditch dollar
Wed Mar 18, 2009 11:16am EDT
By Jeremy Gaunt, European Investment Correspondent

LUXEMBOURG (Reuters) - A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.

http://www.google.com/hostednews/afp/article/ALeqM5hPdAL1QnNnYKQE69vdeq63KqSTng

UN panel touts new global currency reserve system
7 hours ago

UNITED NATIONS (AFP) — A UN panel of expert economists pressed Thursday for a new global currency reserve scheme to replace the volatile, dollar-based system and for coordinated steps by rich countries to stimulate their economies.

 

[Zombie]

if tghe world start dumping it...it has backed BU 12 tRILLION DEBT TO THE WORLD..

nobody can dump without getting hurt

 

[Einfield]

Only last week the PRC premier went on television with these words " I implore the USA to protect our money invested in USA "...he was referring to the trillion over dollars that PRC has stocked up un US treasury bonds over the last 10 years.

Now the PRC central bank governor calls for an alternate cuurency to the US dollar and offers support for such a move.

Over 98 % of global trade is done in US dollars..and it is so because there is a gaurantee ..backed by a democratic system that is acountable to the people, has an independant judicial and legal system and several independant oversee institutions and above all the right of the people to transparent government. That is the fundamental strength of the USA and its economy.
Besides it has a GDP that is 10 times that of the PRC.

Something which PRC and many other countries dont have.

So , these wanna bes will keep on dreaming ..becoz..when it comes to money
people have no faith in commie regimes and their secrecy.

China become very rich in reserve mainly because of trade with US.

But ironically, they also buy up billions of junk bond from the US and will be devastated when the US$ devalue faster then their printing press can print new money.

 

[po2wq]

... Now the PRC central bank governor calls for an alternate cuurency to the US dollar and offers support for such a move. ...

dey definitely shud use sgd ... world crass, world no 1 ...

 

[yellowarse]

Only last week the PRC premier went on television with these words " I implore the USA to protect our money invested in USA "...he was referring to the trillion over dollars that PRC has stocked up un US treasury bonds over the last 10 years.

Now the PRC central bank governor calls for an alternate cuurency to the US dollar and offers support for such a move.

Over 98 % of global trade is done in US dollars..and it is so because there is a gaurantee ..backed by a democratic system that is acountable to the people, has an independant judicial and legal system and several independant oversee institutions and above all the right of the people to transparent government. That is the fundamental strength of the USA and its economy.
Besides it has a GDP that is 10 times that of the PRC.

Something which PRC and many other countries dont have.

So , these wanna bes will keep on dreaming ..becoz..when it comes to money
people have no faith in commie regimes and their secrecy.

US GDP 10x larger than China's?

When will you stop your racist lies? America's GDP is only about 4x that of China's, and rapidly shrinking. Besides, America is the world's largest debtor to the tune of some $12 trillion, and China is America's largest creditor, holding $1.2 trillion in US treasury bonds.

Racism aside, what are you smokin'? Surely not the same stuff as your beloved hero Phelps?!

CIA's World Fact Book:

China — US$3.251 trillion
US — US$13.84 trillion

 

[3_M]

Only last week the PRC premier went on television with these words " I implore the USA to protect our money invested in USA "...he was referring to the trillion over dollars that PRC has stocked up un US treasury bonds over the last 10 years.

Now the PRC central bank governor calls for an alternate cuurency to the US dollar and offers support for such a move.

Over 98 % of global trade is done in US dollars..and it is so because there is a gaurantee ..backed by a democratic system that is acountable to the people, has an independant judicial and legal system and several independant oversee institutions and above all the right of the people to transparent government. That is the fundamental strength of the USA and its economy.
Besides it has a GDP that is 10 times that of the PRC.

Something which PRC and many other countries dont have.

So , these wanna bes will keep on dreaming ..becoz..when it comes to money
people have no faith in commie regimes and their secrecy.

U are sour grape that people are not talking about Indian rupees?

 

[zhihau]

Something which PRC and many other countries dont have.

good to see you here, bro

 

[banova888]

US GDP 10x larger than China's?

When will you stop your racist lies? America's GDP is only about 4x that of China's, and rapidly shrinking. Besides, America is the world's largest debtor to the tune of some $12 trillion, and China is America's largest creditor, holding $1.2 trillion in US treasury bonds.

Racism aside, what are you smokin'? Surely not the same stuff as your beloved hero Phelps?!

CIA's World Fact Book:

China — US$3.251 trillion
US — US$13.84 trillion

How are your mandarin lessons coming along? You would need to speak mandarin to the billions of workers who are out of jobs now because of the US debt. Or will you speak to them in dialects?

 

[banova888]

U are sour grape that people are not talking about Indian rupees?

China has triilions thanks to its sweat shop workers.

 

[besotted]

The US is going down and the system is broke

Obama and Geitner are all hype and no substance while Bernanke just prints more and more money

Very soon the American economy will implode

The scary thing is that some faction within the US will stir trouble globally, even start a war to sow anarchy worldwide

 

[banova888]

The US is going down and the system is broke

Obama and Geitner are all hype and no substance while Bernanke just prints more and more money

Very soon the American economy will implode

The scary thing is that some faction within the US will stir trouble globally, even start a war to sow anarchy worldwide

China and Singapore have a lot of money invested in US. What you said will not go down with many Chinese investors in China and Singapore.

 

[besotted]

China and Singapore have a lot of money invested in US. What you said will not go down with many Chinese investors in China and Singapore.

PRC will take their losses and stand tall

Singaporeans - older ones can take it, younger ones are ah guas and cannot

 

[singveld]

there is no alternative to US dollar at this time.
best of the worse are EURO and YEN.

 

[Zombie]

there is no alternative to US dollar at this time.
best of the worse are EURO and YEN.

http://en.wikipedia.org/wiki/Special_Drawing_Rights

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