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Another Nail In The Dollar Coffin - Hungary

DA60

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Beaudreaux

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Umm...10 minutes long?

My attention span is not that long...could you give me the short of it?

The new Yuan is here and it looks to replace the U.S. dollar as the world reserve currency I guess is the gist of it.

Is that it?

It basically says that because Hungary is issuing debt in Yuan (Chinese currency) that the Dollar is collapsing and we are all in dire danger. I watched it, and have to go find my Excedrin Migraine now. This should have been put in the CT forum.
 

Dibbler

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Umm...10 minutes long?

My attention span is not that long...could you give me the short of it?

The new Yuan is here and it looks to replace the U.S. dollar as the world reserve currency I guess is the gist of it.

Is that it?

If you can't keep on a topic for 10 minutes try changing your diet, exercise and perhaps look into a detox plan, that is, if you have that long.
 

DA60

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If you can't keep on a topic for 10 minutes try changing your diet, exercise and perhaps look into a detox plan, that is, if you have that long.

Oh come on now...obviously I was exaggerating.

My point was that I am not going to watch a 10 minute video when I have virtually no idea what it is about or what the source is.

Next time give more details.


Good day.
 

csbrown28

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Chinese lack the imports, at least right now, to supplant the US dollar as the worlds reserve currency.

Futhermore, there is no long term danger in the unloading of US debt, even if the Chinese currency does replace the US dollar as the primary reserve currency.
 

DA60

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China has three major problems to work out before they can start to be taken seriously as a true world power.

1) they are propping up/controlling their economy as much as anyone. If it cannot stand on it's own...forget it.

2) their income per capita is still tiny compared to most western countries.

3) eventually their citizens are going to demand western rights/freedoms...it is inevitable. And when they do, will their leaders give it to them or kill them (ala Tiananmen Square)?
So far, China has had huge growth, so the people have been quiet about this (more or less). But this growth cannot last forever, and when it slows, the people will lose their patience for more rights/freedoms.
That is the crossroads that China has to face (and pass through successfully) before it can truly be a solid, world power, IMO.
 
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