| Submit your comments on this article |
| Economy |
| China Is Going To Stop Stockpiling U.S. Dollars |
| 2013-11-23 |
| h/t Gates of Vienna China just dropped an absolute bombshell, but it was almost entirely ignored by the mainstream media in the United States. The central bank of China has decided that it is "no longer in ChinaÂ’s favor to accumulate foreign-exchange reserves". During the third quarter of 2013, China's foreign-exchange reserves were valued at approximately $3.66 trillion. And of course the biggest chunk of that was made up of U.S. dollars. For years, China has been accumulating dollars and working hard to keep the value of the dollar up and the value of the yuan down. One of the goals has been to make Chinese products less expensive in the international marketplace. But now China has announced that the time has come for it to stop stockpiling U.S. dollars. And if that does indeed turn out to be the case, than many U.S. analysts are suggesting that China could also soon stop buying any more U.S debt.. |
| Posted by:g(r)omgoru |
| #8 If they do that, Chinese industry will collapse(already running on a 1% margin) and these "huge" reserves will last them three months...then you'll see the rise of "warlords" with new names...as it happened in the past countless times...And epic massacres, again, like in the past... |
| Posted by: Herb Gloluger9960 2013-11-23 21:37 |
| #7 China has also been buying up gold like crazy. Some suspect the want to create an new reserve currency, not the Yaun, backed by gold. Being Chinese gold it will of course be 1/2 lead alloy, with some asbestos thrown in. |
| Posted by: Uninemp Crimble3015 2013-11-23 19:50 |
| #6 I understand they stopped buying US debt a while back. So some of this is old news. I have to figure out how to get the lathe stuff worked out before the economy locks up. This news item indicates I may lose the race. Yet more headaches. |
| Posted by: Thing From Snowy Mountain 2013-11-23 13:41 |
| #5 China is not the smart economic powerhouse people think that it is. There are lots of shaky business loans out there. A drop in demand for Chinese goods could make things ugly and unstable in China. The US and China are two partners on a boat with little freeboard, and the wind is picking up. |
| Posted by: Alaska Paul 2013-11-23 13:13 |
| #4 Wait until they start dumping US Treasury notes; then we'll know for sure shit just got real. |
| Posted by: Raj 2013-11-23 13:11 |
| #3 The finally figured out that the paper they're getting from the Americans has inflated itself beyond the cost of production (to include the welfare effect of keeping their masses employed). They're losing value on each unit shipped, but even they figured out they're not making it up in volume. |
| Posted by: Procopius2k 2013-11-23 10:57 |
| #2 Survivalist site, Highly suspect. |
| Posted by: Redneck Jim 2013-11-23 08:01 |
| #1 This obviously means China will stop selling stuff to the USA. |
| Posted by: Anguper Hupomosing9418 2013-11-23 06:51 |