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China Just Threatened a Currency War If the Fed Doesn’t Stop Printing
Ms Sans Serif
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[quote:Nikola Tesla:MV8yMTIzMTM0XzM1ODI5MDEzXzY0MzUzNjU4] [quote:Anonymous Coward 23414035:MV8yMTIzMTM0XzM1ODI4Mzc0XzE2RjFERDQx] the very fact that the fed reserve prints american money is unconstitutional. look up thomas jefferson's quotes in regards to private central banks. everything he stated came true (banks would take citizen's homes, throw them in debt, etc) If the fed reserve stopped printing worthless paper $ then it will be a good thing for both China and America. Money is supposed to be notes representing gold and silver that you can redeem at any time. Now it's worth no more than the toilet paper I wipe my ass with :butt: [/quote] Yep, wipe your ass with one dollar FRN's. The dollar has lost 96% of it's purchasing power since the Federal Reserve Act was authorized by [b]CON[/b]gress in 1913. They have really done a number on us. [/quote]
The tension between Central Banks that we noted yesterday continues to worsen. This time it was China and the EU, not just Germany, that fired warning shots at the US Fed.
A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy if the world is to have confidence in the dollar.
Asked whether he was worried about the dollar, the chairman of China’s sovereign wealth fund, the China Investment Corporation, Jin Liqun, told the World Economic Forum in Davos: “I am a little bit worried.”
“There will be no winners in currency wars. But it is important for a central bank that the money goes to the right place,” Li said.
Speaking at the same session, French Finance Minister Pierre Moscovici voiced concern that the euro was becoming overvalued as a result of quantitative easing and other stimulus actions taken by other nations’ central banks.
link to investmentwatchblog.com
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