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Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency

 
Anonymous Coward
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11/08/2012 09:03 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
goldielucks

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11/08/2012 09:11 PM

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they forget to add cambodia to their list... the central bank now has renminbi in their reserve besides the dollars and china is investing and loaning money very heavily there...that 's what worry the US and panetta is scheduled to visit there soon.
 Quoting: Anonymous Coward 12064276


Panetta is more of a godamn commie than Hu Jin Tao.
 Quoting: Anonymous Coward 27343763


clappaclappa

That's what petrodollar warfare is really about.

Who's the bigger fuckin' commie on the planet with the most money.
"Democracy is nothing more than mob rule, where 51% of the people may take away the rights of the other 49%." ~ Thomas Jefferson

Mrs. Powel of Philadelphia asked Benjamin Franklin, “Well, Doctor, what have we got—a Republic or a Monarchy?”
With no hesitation, Franklin replied, “A republic, if you can keep it.”
Kirk

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11/08/2012 09:15 PM

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these pricks can't sell drywall that is not toxic , think they can get people too trust their currency ?

ha the day the fucko's try to gold back their currency as in exchange currency for gold , their whole fucking stash of PM's will be gone.

given the chinese are wily bastards and meant in a good way, they will have counterfeiting problems up the ass , along with a good dope slapping of idenity theft ) it will be an epic clownfuck
 Quoting: Anonymous Coward 957572


Its funny that you bring up gold. There have been many reports that china has recently been calling in for all their physical gold from the US and European reserves. There have also been reports that a foundry in Switzerland has been pouring kilo sized bars for them along with china doing it themselves. They are very likely positioned to have the only true gold backed currency in the world. All the while, they have been buying up our debt as leverage to do this. Once they dump that debt back on us and prop up their currency with a true gold backing, its lights out for the dollar and the US in general.
 Quoting: Anonymous Coward 21588115


Then the real gold will be food and heat.
Worry is a misuse of the imagination.
Anonymous Coward
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11/08/2012 09:29 PM
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My gold buys a ton of food an d heat
Anonymous Coward
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11/08/2012 09:30 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
I wonder where Obama's first economic booster trip will be now that he's been re-elected?

oridin

"...during the Nov. 17-20 trip. In Cambodia, the president will attend the East Asia summit in Phnom Penh and meet with leaders of the Association of Southeast Asian Nations."
Anonymous Coward
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11/08/2012 09:32 PM
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Now that Obama has been re-elected, this will accelerate rapidly.
 Quoting: Anonymous Coward 10971613


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
Anonymous Coward
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11/08/2012 09:36 PM
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Now that Obama has been re-elected, this will accelerate rapidly.
 Quoting: Anonymous Coward 10971613


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
 Quoting: Anonymous Coward 26957116


lulz. silly liberal, you're on the menu.
Anonymous Coward
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11/08/2012 09:51 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
these pricks can't sell drywall that is not toxic , think they can get people too trust their currency ?

ha the day the fucko's try to gold back their currency as in exchange currency for gold , their whole fucking stash of PM's will be gone.

given the chinese are wily bastards and meant in a good way, they will have counterfeiting problems up the ass , along with a good dope slapping of idenity theft ) it will be an epic clownfuck
 Quoting: Anonymous Coward 957572


all those cash for gold places?who do you think is buying it?we pay them in dollars for all the shit they send over here.probably this computer.then they lend us back our own money to buy more shit and to pay interest on the shit we already borrowed for.they got shitloads of dollars so why not buy up all our gold 1 shitty gold chain at a time,get rid of worthless dollars and build up gold reserves.they also purchase iranian oil in gold.they gotta love the fuck outta christmas,probably build three aircraft carriers just on walmart profits
Anonymous Coward
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11/08/2012 09:54 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Now that Obama has been re-elected, this will accelerate rapidly.
 Quoting: Anonymous Coward 10971613


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
 Quoting: Anonymous Coward 26957116


so will american liberals dumbass.
Anonymous Coward
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11/08/2012 09:55 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Now that Obama has been re-elected, this will accelerate rapidly.
 Quoting: Anonymous Coward 10971613


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
 Quoting: Anonymous Coward 26957116


lulz. silly liberal, you're on the menu.
 Quoting: Anonymous Coward 1421478


clappa
Anonymous Coward
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11/08/2012 09:58 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Now that Obama has been re-elected, this will accelerate rapidly.
 Quoting: Anonymous Coward 10971613


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
 Quoting: Anonymous Coward 26957116


so will american liberals dumbass.
 Quoting: Anonymous Coward 27253239


But you don't hear of liberal parasites going 'Galt' only the conservative parasites. Liberals are more humble and realize they've had help to get where they are and tat welfare dollars flow to ALL OF US while conservative trash thinks they did it 'all on their own' Dumbass
Anonymous Coward
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11/08/2012 10:02 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Now that Obama has been re-elected, this will accelerate rapidly.
 Quoting: Anonymous Coward 10971613


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
 Quoting: Anonymous Coward 26957116


so will american liberals dumbass.
 Quoting: Anonymous Coward 27253239


But you don't hear of liberal parasites going 'Galt' only the conservative parasites. Liberals are more humble and realize they've had help to get where they are and tat welfare dollars flow to ALL OF US while conservative trash thinks they did it 'all on their own' Dumbass
 Quoting: Anonymous Coward 26957116


If "conservatives" are such useless parasites then it really ought not matter how Galt they go. You can do just as good of a job, right? Your new Blackspanic workforce will soar to untold heights with the White debbils out of the way -- just like in Rhodesia, South Africa, Bolivia, Cuba, Zanzibar, Detroit, Chicago, etc.

You can do it. I believe in you.

Anonymous Coward
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11/08/2012 10:07 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the U.S. dollar and peg their currency to the Chinese yuan…

And now seven out of 10 economies in the region – including South Korea, Indonesia, Malaysia, Singapore and Thailand – track the renminbi more closely than they do the U.S. dollar…

According to the latest report by the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, renminbi-denominated trade accounted for 10 percent of China’s total foreign trade in July. The figure was zero just two years ago.

From July 1 to August 31, global payments in the renminbi rose 15.6 percent, according to Swift as payment in other currencies fell 0.9 percent on the average… [emphasis mine]

We see three obvious points in the quote above:

1) The move from the dollar to the renminbi is now occurring rapidly.

2) Demand for the U.S. dollar is falling as a direct result of this shift.

3) Even Chinese media are attempting to cover-up the collapse of the dollar.

Read more:

[link to etfdailynews.com]
 Quoting: Anonymous Coward 10971613


Do you realize how grossly stupid your comments are? Just because a price is quoted in Dollars or Pounds or Euros or Yuan means absolutely nothing. Euros are not changed into Dollars to buy oil. The only reason the price is quoted in Dollars is that the Dollar has gone up against all the other currencies on the planet in the past few years and the past 100 years. It makes sense to quote a price in a currency that is stable.

European countries can pay with Euros. Japan can pay with Yen. It usually does not matter what Electronic currency they present for payments as long as it is the momentary equivalent of the Dollar as priced on world markets. Almost all foreign purchases are done electronically now. They are not paid with actual currency. Almost nobody uses Currency now a days.
Anonymous Coward
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11/08/2012 10:09 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
...


As it should. It's about time american conservatives faced the music and owned up to their true parasitical nature feeding off the rest of the world with the USD as the reserve currency. If we lose that, you'll be eating dinner at the local garbage dump.
 Quoting: Anonymous Coward 26957116


so will american liberals dumbass.
 Quoting: Anonymous Coward 27253239


But you don't hear of liberal parasites going 'Galt' only the conservative parasites. Liberals are more humble and realize they've had help to get where they are and tat welfare dollars flow to ALL OF US while conservative trash thinks they did it 'all on their own' Dumbass
 Quoting: Anonymous Coward 26957116


If "conservatives" are such useless parasites then it really ought not matter how Galt they go. You can do just as good of a job, right? Your new Blackspanic workforce will soar to untold heights with the White debbils out of the way -- just like in Rhodesia, South Africa, Bolivia, Cuba, Zanzibar, Detroit, Chicago, etc.

You can do it. I believe in you.


 Quoting: Anonymous Coward 1421478


It is a scientific fact that white people are lazy workers. give me an Asian in the workforce any day.
Anonymous Coward
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11/08/2012 10:10 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
clappa
Anonymous Coward
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11/08/2012 10:11 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
It is a scientific fact that white people are lazy workers. give me an Asian in the workforce any day.
 Quoting: Anonymous Coward 16674316


They're so lazy they've created societies that non-Whites tirelessly seek to get into.
Anonymous Coward
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11/08/2012 10:15 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
China =Satan
Obama bow to China =Obama bow to Satan

US people vote for Obama=US people vote for Satan

Rome did the same. Not a surprise.
So 21/12/2012 is true!!

Human vote their own doom.
Hoshiro Tanaka
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11/08/2012 10:17 PM
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It is a scientific fact that white people are lazy workers. give me an Asian in the workforce any day.
 Quoting: Anonymous Coward 16674316


They're so lazy they've created societies that non-Whites tirelessly seek to get into.
 Quoting: Anonymous Coward 1421478


I never hire whites. I do not hate them. They are just too lazy. I will not hire Asians to do dirty jobs. They do not like that kind of work. If I have hard dirty work to do I almost always hire a Mexican or an outside Mexican company, because you always know that the Mexicans will do it right and they will do it quickly.
Anonymous Coward
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11/08/2012 10:25 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
It is a scientific fact that white people are lazy workers. give me an Asian in the workforce any day.
 Quoting: Anonymous Coward 16674316


They're so lazy they've created societies that non-Whites tirelessly seek to get into.
 Quoting: Anonymous Coward 1421478


I never hire whites. I do not hate them. They are just too lazy. I will not hire Asians to do dirty jobs. They do not like that kind of work. If I have hard dirty work to do I almost always hire a Mexican or an outside Mexican company, because you always know that the Mexicans will do it right and they will do it quickly.
 Quoting: Hoshiro Tanaka 16674316


You don't need to pretend to be Japanese to try and win the argument, Deandre. This is the new Blackspanic, America.

There aren't going to be millions of Nips to do everything for you.
Anonymous Coward
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11/08/2012 10:32 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
these pricks can't sell drywall that is not toxic , think they can get people too trust their currency ?

ha the day the fucko's try to gold back their currency as in exchange currency for gold , their whole fucking stash of PM's will be gone.

given the chinese are wily bastards and meant in a good way, they will have counterfeiting problems up the ass , along with a good dope slapping of idenity theft ) it will be an epic clownfuck
 Quoting: Anonymous Coward 957572


You forgot most of the counterfeit were pioneered here way before China even had an economy. We also have many natural resources polluted until those industries were outsourced, maybe you are too young to know that. They have developed rapidly so you are simply witnessing all of our problems compacted into two decades happening on their turf.
tard
Anonymous Coward
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11/08/2012 10:42 PM
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finally! sheesh!

5a
Luke
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11/08/2012 10:46 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Isn't this supposed to be why Obama needed to start a war with China?

And the Aircraft carrier George Washington is sitting right off the coast of Shanghai in the East China sea as of Nov. 7th..
Anonymous Coward
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11/08/2012 10:51 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Isn't this supposed to be why Obama needed to start a war with China?

And the Aircraft carrier George Washington is sitting right off the coast of Shanghai in the East China sea as of Nov. 7th..
 Quoting: Luke 26420303


Can you imagine Obama's address to the nation for that?

"My fellow Americans, we beez needin' to fight deez Chinks cuz dey be tryin' to take your gibsmedats!"
TraderRob

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11/08/2012 10:52 PM

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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
they forget to add cambodia to their list... the central bank now has renminbi in their reserve besides the dollars and china is investing and loaning money very heavily there...that 's what worry the US and panetta is scheduled to visit there soon.
 Quoting: Anonymous Coward 12064276


NOT CAMBODIA!!
Anonymous Coward
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11/08/2012 10:54 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
It's pegged to the USD. Who cares.
TraderRob

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11/08/2012 10:58 PM

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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Do you realize how grossly stupid your comments are? Just because a price is quoted in Dollars or Pounds or Euros or Yuan means absolutely nothing. Euros are not changed into Dollars to buy oil. The only reason the price is quoted in Dollars is that the Dollar has gone up against all the other currencies on the planet in the past few years and the past 100 years. It makes sense to quote a price in a currency that is stable.

European countries can pay with Euros. Japan can pay with Yen. It usually does not matter what Electronic currency they present for payments as long as it is the momentary equivalent of the Dollar as priced on world markets. Almost all foreign purchases are done electronically now. They are not paid with actual currency. Almost nobody uses Currency now a days.
 Quoting: Anonymous Coward 16674316


Ok, professor... so what happens to the value of the dollar in a few years, and I do mean a few years, when oil is priced in Renminbi?

Dollars -- physical or electronic -- are out there -- and if no one wants them... what then?
Anonymous Coward
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11/08/2012 11:16 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
But what is the purpose of having an aircraft carrier sitting by China in East China Sea?
Anonymous Coward
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11/08/2012 11:29 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
This guy sums it up nicely...IT'S OVER! AMERICA IS DONE!

[link to www.youtube.com]
Anonymous Coward
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Canada
11/08/2012 11:38 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
the renminbi is not the yuan dipshits
Anonymous Coward
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China
11/08/2012 11:41 PM
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Re: Renminbi Relentlessly Replacing U.S. Dollar As Global Reserve Currency
Who can even pronounce Renminbi?
If they shorten it to Ren, like Ren and Stimpy,
I'll buy some.
 Quoting: Anonymous Coward 27314276


It's called kuai (kwai) or rmb or yuan, colloquially, for the tonge-twisted lao wais.

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