China's president says dollar should no longer be world's top currency


#1

‘A product of the past’: China’s president says dollar should no longer be world’s top currency | Mail Online

this probably will occur at some point in the future, seeing as its already happened to an extent in Europe with the Euro. But what will replace the $?


#2

Global economic collapse.

As I see it.


#3

I believe the Mexican peso will be the world’s top currency. :v


#4

I advise everyone to save up their Coca-Cola caps once World War III is upon us.


#5

Wouldn’t Nitro, or Jolt cola caps be more apt for such a future?

As I see it.


#6

China keeps its yuan super low by artificially keeping it down compared to the U.S. dollar. A lot of countries in the world keep their currency stable by just straight pegging it to the U.S. dollar. Pretty much all the reserves in the world are based on the U.S. dollar and the Euro has been on the downhill and questions have arose whether it will even exist in the future.

tl; dr version: China is trolling.

Hugh Mad.


#7

U MAD

sterling>dollar

Why is everyone getting their news from the Daily Mail today :looney:


#8

jealous


#9

americans need to GET BACK TO WORK. the rest of the world is generating REAL valuable advances and americans are still concerned about consumption of every resource, commodity and service available. hooray for the american way of life. :rolleyes: the only thing that i can foresee reversing it is biotech.


#10

You realize most of the countries that were successful in evolving their economies did so because of America’s consumption, right? Of course you didn’t.

Hugh Mad.


#11

We need to stop outsourcing our work, let’s get off the face book and back in the factory!


#12

yeah, thats right buddy, gratitude will save the day. let me know how well that works out for you in the end.


#13

I dont blame them. Our country has too many Republicans who dont understand the first thing about monitary policy or economics, despite the fact that they remain arrogant about the idea that they do.


#14

Yeah exactly. The USA helped fuel everyone else’s economy via a massive trade deficit, outsourcing all our core competencies overseas, and debt based consumption. Obviously this kind of strategy is not sustainable. Add on top of that a gigantic federal deficit we have no hope of ever paying back. Yes. Yes I am mad.


#15

no hope at paying back our debt? you realize we were in way worse shape in the 80’s right and had it turned around in less than 15 years, right?

either way, that article is old. not to mention there’s no better alternative. iran tried to talk that greasy shit awhile ago about OPEC needing to switch to the euro and nothing came of it.


#16

There is something wrong with our system when someone that used to make 45k/year is getting 20k in unemployment for the past 2 years and what looks to be another few more years.


#17

In summary:

America, fuck yeah.


#18

how do you figure that they were worse? our deficit is currently at 14 trillion. the deficit has only ever grown since reagan’s time, not shrunk. there was a budget surplus under clinton, but bush quickly got rid of that, and obama has gone balls to the wall maynard keynes in response to the crisis, and is planning a couple more stimulus packages. so this deficit is going to keep ballooning out of control. i don’t see how it is better than in the 80s, but I don’t know much about the 80s, so I’d like to hear your reasoning.


#19

I can wait a few decades until we canucks buy you up, in exchange for Timbits.

United States of Canada…has a nice ring to it

the FUNNY thing is, in all honesty your guys economy seems fucked. I remember as a kid wondering how would people live if all the jobs were gone. What if robotics takes over completely. Imagine robo Mcdonalds, were conveyor belts and PC’s make you the exact same burger and shit? I’ve heard of Blockbuster wanting to just do giant vending machines, to cut down on costs. When jobs started getting outsourced, I kept wondering wtf was gonna happen.

the SAD thing is, I don’t think your way of life is sustainable. More and more problems creep up, other countries get closer (or more superior), and shit is just plain getting grim for some folks. Shit’s still DAMN good in the ol’ US of A, obviously, but little by little people are realizing there ARE problems, and they AREN’T being dealt with. I think the only solution, might be something drastic.

But then again, I never got this ‘well democracy is the best government ever so lets stop there’ mentality


#20

Of course it isn’t sustainable. The point was to stimulate other countries’ economies so they would develop a middle class, so they would consume the stuff that America is very efficient at producing such as services and intellectual property. We are beginning to see the effects of this play out and the evolutions of the other countries’ middle class is beginning to consume the things we are good at producing.

Hugh Mad.