Time to learn Chinese, New 1 world currency in the works????

[mrsleeve]

Now we all know we have been devaluing our currency to the brink of solvency. We all have been over the quantitative easing and and the ills that brings with it.

Well it seems that we may really be past the point of no return, and we are owned in whole by China. Seems Turbo tax Fed Reserve chairman let some thing slip.

US backing for world currency stuns markets
US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.

"The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation," he said.

Mr Geithner later qualified his remarks, insisting that the dollar would remain the "world's dominant reserve currency ... for a long period of time" but the seeds of doubt have been sown.

The markets appear baffled by the confused statements emanating from Washington. President Barack Obama told a new conference hours earlier that there was no threat to the reserve status of the dollar.

"I don't believe that there is a need for a global currency. The reason the dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world," he said.

http://www.telegraph.co.uk/finance/e...s-markets.html

Really WTF is this administration doing, get ready to grab your ass

Discuss

[bmwstephen]

these fuckers ought to be gutted like a fish for fucking around with their faith based policies for so long. I would sacrifice all of them in a heart beat

[mrsleeve]

I say buy metals, not gold and silver either

Lead and brass

[Vedubin01]

Just wait till Japan (2nd largest holder of US Treasuries) starts dumping its US bond holdings on the open market to help pay to rebuild. As well as Pimco last week removing all of its US Bonds from its portfolio. Pimco is the largest private bond holder in the world.

If you think times are bad, it's only coming. Food prices are about to skyrocket. The United States is about hit a point of no return.


Brass and Lead!

http://www.thetradingarcade.com/bonds/the-world%E2%80%99s-top-bond-fund-has-dumped-us-government-debt/

[xwill112x]

we're fucked. definitly shouldnt have read this.

[Vedubin01]

we're fucked. definitly shouldnt have read this.

Dont worry though the Bible is a fairytale!

[mrsleeve]

Dub you have a good source for .308. Everyone I know of is sold out up here I need more lead and brass ;)

[Vedubin01]

ammoman.com is about the best you can go....

[bmwstephen]

Just wait till Japan (2nd largest holder of US Treasuries) starts dumping its US bond holdings on the open market to help pay to rebuild. As well as Pimco last week removing all of its US Bonds from its portfolio. Pimco is the largest private bond holder in the world.

If you think times are bad, it's only coming. Food prices are about to skyrocket. The United States is about hit a point of no return.


Brass and Lead!

http://www.thetradingarcade.com/bond...vernment-debt/

thats just the beginning, all it takes is just one large bond holder to dump and the rest will follow. in the financial industry we are already bracing for the worse.

[xwill112x]

I really do not need to be reading all of this...

[DeM3nted]

Yall Gonna Learn Chinese

http://www.youtube.com/watch?v=v9YYfEFTrgY

[mrsleeve]

thats just the beginning, all it takes is just one large bond holder to dump and the rest will follow. in the financial industry we are already bracing for the worse.

I know, that is really a entire other thread in and of it self, but this shit with turbo tax really threw me off the deep end

[AbeSonic]

And you know all this is just adding fuel to the 2012 crap.... gawd...

[mrsleeve]

And you know all this is just adding fuel to the 2012 crap.... gawd...

Really ............................... Come on fer srs Really ???

[Ryan Stewart]

Its a currency, its a trade off. Importing gets expensive but then american goods become price-competitive on a global market. People keep bitching about how there are no manufacturing jobs, a falling dollar would revive the US steel industry all by itself.

In the short term it would hurt like a bitch because we have shipped EVERYTHING overseas but it would come home as "american made" wouldnt cost 3x as much.