China won't dump USD, they may 'flex muscles' here & there, but think about it they have over $2t in reserves, their economy has got miles to go yet (GDP per capita), they need a global economy to heal & establish return of demand. Even if 'healing' process does take 10 years. They might lose $500b due to debasement but stand to make x10 more in years to come, so risk to reward is awesome. USD is the ONLY reserve currency (paper) on this planet.
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China, Russia quit dollar on bilateral trade
- Thread starter bearice
- Start date
China won't dump USD, they may 'flex muscles' here & there, but think about it they have over $2t in reserves, their economy has got miles to go yet (GDP per capita), they need a global economy to heal & establish return of demand. Even if 'healing' process does take 10 years. They might lose $500b due to debasement but stand to make x10 more in years to come, so risk to reward is awesome. USD is the ONLY reserve currency (paper) on this planet.
A part of Russia's currency reserves has been in Euro for a few years. Now they are adding Candian Dollar.Quote from JSSPMK:
USD is the ONLY reserve currency (paper) on this planet.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=at5XsdLU.68wRussiaâs central bank will add Canadian dollars to its reserves and may include more currencies as it seeks to reduce its dependence on the U.S dollar.
I'm sure Renminbi would be on the list if the Chinese government allowed it.
Lets face the reality.
There is no hope in http://en.wikipedia.org/wiki/American_dream
There is no hope in http://en.wikipedia.org/wiki/American_dream
Quote from bearice:
Remember the story "the boy who cried wolf". One day the wolf finally arrived and killed the boy (if I am correct).
He sure did. But until that time, the villagers thought the boy was a fucking idiot for falsely crying wolf all of the time.
"The markets can remain irrational longer than you can remain solvent."
Maybe this boy had supernatural powers/heavan powers so he could see death coming well in advance. He was not an idiot.Quote from Kassz007:
He sure did. But until that time, the villagers thought the boy was a fucking idiot for falsely crying wolf all of the time.
There are many people in this modern world who can see future.