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partypup.
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September 15, 2009 at 3:53 PM #457762September 15, 2009 at 4:00 PM #456972
Eugene
Participant[quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?
September 15, 2009 at 4:00 PM #457165Participant[quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?
September 15, 2009 at 4:00 PM #457507Participant[quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?
September 15, 2009 at 4:00 PM #457578Participant[quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?
September 15, 2009 at 4:00 PM #457772Participant[quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?
September 15, 2009 at 4:02 PM #456953Participant[quote=partypup]
I’m just curious: where do you see the dollar heading? Specifically, it now hovers at 76.49 on the USD index, which represents a 3.67% loss in one month1. Where do you think the dollar will sit on that index by Dec 2010?
[/quote]Probably about the same. Maybe somewhat higher. Our trade deficit is very low by historical standards. Annualized July trade deficit was at the lowest level since 2001.
[quote]2. Do you believe the U.S. will retain its sole reserve currency status by Dec 2010?[/quote]
Reserve currency status is irrelevant. It’s merely a notational agreement. Balance of trade is what matters. I do not foresee any significant changes in the balance of trade, with China in particular, by Dec 2010.
[quote]And as for food…there is this little issue called “climate change” that you should probably prepare yourself for.[/quote]
Oh yeah, how could I forget that … a 34 cm rise in sea levels and a 4 C increase in mean surface temperature by 2100 (mostly in Canada and Siberia). The horror!
On the other hand, there’s this neat picture that shows how much India & such can increase their agri output when they industrialize…
[img_assist|nid=11897|title=|desc=|link=node|align=left|width=90|height=100]
Extra points to anyone who can identify the source.
September 15, 2009 at 4:02 PM #457146Participant[quote=partypup]
I’m just curious: where do you see the dollar heading? Specifically, it now hovers at 76.49 on the USD index, which represents a 3.67% loss in one month1. Where do you think the dollar will sit on that index by Dec 2010?
[/quote]Probably about the same. Maybe somewhat higher. Our trade deficit is very low by historical standards. Annualized July trade deficit was at the lowest level since 2001.
[quote]2. Do you believe the U.S. will retain its sole reserve currency status by Dec 2010?[/quote]
Reserve currency status is irrelevant. It’s merely a notational agreement. Balance of trade is what matters. I do not foresee any significant changes in the balance of trade, with China in particular, by Dec 2010.
[quote]And as for food…there is this little issue called “climate change” that you should probably prepare yourself for.[/quote]
Oh yeah, how could I forget that … a 34 cm rise in sea levels and a 4 C increase in mean surface temperature by 2100 (mostly in Canada and Siberia). The horror!
On the other hand, there’s this neat picture that shows how much India & such can increase their agri output when they industrialize…
[img_assist|nid=11897|title=|desc=|link=node|align=left|width=90|height=100]
Extra points to anyone who can identify the source.
September 15, 2009 at 4:02 PM #457487Participant[quote=partypup]
I’m just curious: where do you see the dollar heading? Specifically, it now hovers at 76.49 on the USD index, which represents a 3.67% loss in one month1. Where do you think the dollar will sit on that index by Dec 2010?
[/quote]Probably about the same. Maybe somewhat higher. Our trade deficit is very low by historical standards. Annualized July trade deficit was at the lowest level since 2001.
[quote]2. Do you believe the U.S. will retain its sole reserve currency status by Dec 2010?[/quote]
Reserve currency status is irrelevant. It’s merely a notational agreement. Balance of trade is what matters. I do not foresee any significant changes in the balance of trade, with China in particular, by Dec 2010.
[quote]And as for food…there is this little issue called “climate change” that you should probably prepare yourself for.[/quote]
Oh yeah, how could I forget that … a 34 cm rise in sea levels and a 4 C increase in mean surface temperature by 2100 (mostly in Canada and Siberia). The horror!
On the other hand, there’s this neat picture that shows how much India & such can increase their agri output when they industrialize…
[img_assist|nid=11897|title=|desc=|link=node|align=left|width=90|height=100]
Extra points to anyone who can identify the source.
September 15, 2009 at 4:02 PM #457559Participant[quote=partypup]
I’m just curious: where do you see the dollar heading? Specifically, it now hovers at 76.49 on the USD index, which represents a 3.67% loss in one month1. Where do you think the dollar will sit on that index by Dec 2010?
[/quote]Probably about the same. Maybe somewhat higher. Our trade deficit is very low by historical standards. Annualized July trade deficit was at the lowest level since 2001.
[quote]2. Do you believe the U.S. will retain its sole reserve currency status by Dec 2010?[/quote]
Reserve currency status is irrelevant. It’s merely a notational agreement. Balance of trade is what matters. I do not foresee any significant changes in the balance of trade, with China in particular, by Dec 2010.
[quote]And as for food…there is this little issue called “climate change” that you should probably prepare yourself for.[/quote]
Oh yeah, how could I forget that … a 34 cm rise in sea levels and a 4 C increase in mean surface temperature by 2100 (mostly in Canada and Siberia). The horror!
On the other hand, there’s this neat picture that shows how much India & such can increase their agri output when they industrialize…
[img_assist|nid=11897|title=|desc=|link=node|align=left|width=90|height=100]
Extra points to anyone who can identify the source.
September 15, 2009 at 4:02 PM #457752Participant[quote=partypup]
I’m just curious: where do you see the dollar heading? Specifically, it now hovers at 76.49 on the USD index, which represents a 3.67% loss in one month1. Where do you think the dollar will sit on that index by Dec 2010?
[/quote]Probably about the same. Maybe somewhat higher. Our trade deficit is very low by historical standards. Annualized July trade deficit was at the lowest level since 2001.
[quote]2. Do you believe the U.S. will retain its sole reserve currency status by Dec 2010?[/quote]
Reserve currency status is irrelevant. It’s merely a notational agreement. Balance of trade is what matters. I do not foresee any significant changes in the balance of trade, with China in particular, by Dec 2010.
[quote]And as for food…there is this little issue called “climate change” that you should probably prepare yourself for.[/quote]
Oh yeah, how could I forget that … a 34 cm rise in sea levels and a 4 C increase in mean surface temperature by 2100 (mostly in Canada and Siberia). The horror!
On the other hand, there’s this neat picture that shows how much India & such can increase their agri output when they industrialize…
[img_assist|nid=11897|title=|desc=|link=node|align=left|width=90|height=100]
Extra points to anyone who can identify the source.
September 15, 2009 at 4:48 PM #456981partypup
Participant[quote=Eugene][quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?[/quote]
Actually, the Chinese are steering their citizens into gold and silver to prepare for the inevitable dollar collapse so they WON’T riot and revolt.
http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=88452&sn=Detail
Americans, on the other hand, are being told to stay in fiat, so Obama WILL have a revolt when the dollar collapses. China knows that a new global currency is coming to replace the dollar, and that currency WILL be backed by gold. The world will absolutely demand this in order to avert another crisis of this magnitude.
And BTW, the U.S. used to be one of China’s largest export markets. But with real unemployment at 21.6% now according to Shadow Stats, those days are long over. This is precisely one of the reasons that China is bailing on the dollar. They invested in us only so long as we were deemed useful to them, i.e. willing to buy their cheap crap. We are no longer useful to them or anyone else.
Lastly, reserve currency status DOES matter. Without this built-in demand for dollars, our currency tanks. It’s a mathematical certainty. There are simply way too many dollars sloshing around the world, but they are currently being soaked up only because dollars are needed for most trade. When the dollar is no longer required for trade, the game ends.
Sorry to break the news to you, Eugene 🙁
And hey, you speak with such confidence. Will you PLEASE take my bet?? I’m an easy target, right? I’m just a silly little gold bug. Why do you hesitate to take advantage of me if you remain so confident of the dollar’s staying power? 😉
September 15, 2009 at 4:48 PM #457175Participant[quote=Eugene][quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?[/quote]
Actually, the Chinese are steering their citizens into gold and silver to prepare for the inevitable dollar collapse so they WON’T riot and revolt.
http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=88452&sn=Detail
Americans, on the other hand, are being told to stay in fiat, so Obama WILL have a revolt when the dollar collapses. China knows that a new global currency is coming to replace the dollar, and that currency WILL be backed by gold. The world will absolutely demand this in order to avert another crisis of this magnitude.
And BTW, the U.S. used to be one of China’s largest export markets. But with real unemployment at 21.6% now according to Shadow Stats, those days are long over. This is precisely one of the reasons that China is bailing on the dollar. They invested in us only so long as we were deemed useful to them, i.e. willing to buy their cheap crap. We are no longer useful to them or anyone else.
Lastly, reserve currency status DOES matter. Without this built-in demand for dollars, our currency tanks. It’s a mathematical certainty. There are simply way too many dollars sloshing around the world, but they are currently being soaked up only because dollars are needed for most trade. When the dollar is no longer required for trade, the game ends.
Sorry to break the news to you, Eugene 🙁
And hey, you speak with such confidence. Will you PLEASE take my bet?? I’m an easy target, right? I’m just a silly little gold bug. Why do you hesitate to take advantage of me if you remain so confident of the dollar’s staying power? 😉
September 15, 2009 at 4:48 PM #457517Participant[quote=Eugene][quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?[/quote]
Actually, the Chinese are steering their citizens into gold and silver to prepare for the inevitable dollar collapse so they WON’T riot and revolt.
http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=88452&sn=Detail
Americans, on the other hand, are being told to stay in fiat, so Obama WILL have a revolt when the dollar collapses. China knows that a new global currency is coming to replace the dollar, and that currency WILL be backed by gold. The world will absolutely demand this in order to avert another crisis of this magnitude.
And BTW, the U.S. used to be one of China’s largest export markets. But with real unemployment at 21.6% now according to Shadow Stats, those days are long over. This is precisely one of the reasons that China is bailing on the dollar. They invested in us only so long as we were deemed useful to them, i.e. willing to buy their cheap crap. We are no longer useful to them or anyone else.
Lastly, reserve currency status DOES matter. Without this built-in demand for dollars, our currency tanks. It’s a mathematical certainty. There are simply way too many dollars sloshing around the world, but they are currently being soaked up only because dollars are needed for most trade. When the dollar is no longer required for trade, the game ends.
Sorry to break the news to you, Eugene 🙁
And hey, you speak with such confidence. Will you PLEASE take my bet?? I’m an easy target, right? I’m just a silly little gold bug. Why do you hesitate to take advantage of me if you remain so confident of the dollar’s staying power? 😉
September 15, 2009 at 4:48 PM #457589Participant[quote=Eugene][quote=scaredycat]reserve currency status matters, I think. i mean, isn’t part of the enormous demand for dolalrs the fact that that’s the unit business is done in? if no one did business in dolalrs, there wouldn’t be as much demand, we couldn’t print em, and we’d have a lot less money flowing throught he system. I geuss i don’t understand how you can say that status is irrelevant to the value of the dolalr.[/quote]
The demand for dollars in countries like China and Japan exists because we’re one of their biggest export markets. If they stop buying our dollars, exchange rate adjusts, their exports fall, and they’ll have mass unemployment and riots on their hands. Do they want that?[/quote]
Actually, the Chinese are steering their citizens into gold and silver to prepare for the inevitable dollar collapse so they WON’T riot and revolt.
http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=88452&sn=Detail
Americans, on the other hand, are being told to stay in fiat, so Obama WILL have a revolt when the dollar collapses. China knows that a new global currency is coming to replace the dollar, and that currency WILL be backed by gold. The world will absolutely demand this in order to avert another crisis of this magnitude.
And BTW, the U.S. used to be one of China’s largest export markets. But with real unemployment at 21.6% now according to Shadow Stats, those days are long over. This is precisely one of the reasons that China is bailing on the dollar. They invested in us only so long as we were deemed useful to them, i.e. willing to buy their cheap crap. We are no longer useful to them or anyone else.
Lastly, reserve currency status DOES matter. Without this built-in demand for dollars, our currency tanks. It’s a mathematical certainty. There are simply way too many dollars sloshing around the world, but they are currently being soaked up only because dollars are needed for most trade. When the dollar is no longer required for trade, the game ends.
Sorry to break the news to you, Eugene 🙁
And hey, you speak with such confidence. Will you PLEASE take my bet?? I’m an easy target, right? I’m just a silly little gold bug. Why do you hesitate to take advantage of me if you remain so confident of the dollar’s staying power? 😉
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