It wont be to long now friends..

[yesme]

China announced today that they will no longer use the US dollar as their reserve currency and will instead use the Euro.

Most of the news outlets seem to have buried this...

On fox business, Neil Cavuto had this to say...

http://www.foxbusiness.com/markets/2010/08/16/cavuto-euro-tops-dollar-beijing/

Basically China it seems made the decision more than a year ago to divest away from the dollar.

At the time, they held almost 950 Billion dollars worth of US treasuries. Since June 2009, the total value of US treasuries held by the Chinese has dropped 11% and in the past 2 months alone it has fallen 6%.

http://wallstreet.blogs.fortune.cnn.com/2010/08/16/china-sells-treasurys-again/

So to sum it up. China began divesting it US treasuries holdings in June 2009, and basically fired a shot across the bow on August 16th, with the announcement that they were going to the Euro and actively divesting their American holdings.

The spin doctors are hard at work right now figuring out how to call this a non event but this is really a death knell for the US.

Think about it. The Chinese, on the same day they become the 2nd largest economy on the planet, announce they have lost faith in the US and are going to be divesting their US treasury holdings

[Shpira]

Re: It wont be to long now friends..

yeah...i knew this was coming. Just interested at what pace it will happen.

[runningman]

Re: It wont be to long now friends..

Yes the decline of the empire is happening. War is only days away as well. Harvard has dumped all of it's Israel investments because they know that once the bombing starts Israel will be a crater in the ground.

Also not only did they bury the story but they are now making major news that China is building up their army... Funny how the media works.

[res0nat0r]

Re: It wont be to long now friends..

[runningman]

Re: It wont be to long now friends..

No not us in Canada but in the US you guys are FUCKED!

[res0nat0r]

Re: It wont be to long now friends..

If the US is fucked, then the world is fucked sonny...you know you hate to think that....

[floridaorange]

Re: It wont be to long now friends..

Yesme returns after a 9 month hiatus to spread doom and gloom on an electronic music message board... that's just great

[runningman]

Re: It wont be to long now friends..

If the US is fucked, then the world is fucked sonny...you know you hate to think that....

HAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!! Now who is spreading the Doom and Gloom lies.. You couldn't be more wrong. Most of the world is distancing themselves from the US because we on the outside have seen the demise for a few years now. China is dumping the dollar slowly to ensure a smooth transition. Canada has increased it's exports to China and India over the last 2 years.

Keep holding onto that kind of hope and logic Reso. Hyperinflation is inevitable now. With nobody to buy your bonds the only thing to do will be to inflate.

Also Canada is the leader in the world when it comes to Research and Development. Our manufacturing base left some 10 years ago. Ontario has converted to R & D and out West they export oil. Will we take a hit---- absolutely, but it will be peanuts compared to what you guys will go through.

[res0nat0r]

Re: It wont be to long now friends..

HAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!! Now who is spreading the Doom and Gloom lies..

Doom and gloom? I have damn cookie monster as my avatar....you think this is my agenda on here?

http://en.wikipedia.org/wiki/List_of_the_largest_trading_partners_of_the_United_States

[Jenks]

Re: It wont be to long now friends..

Time to invade Canada.

[res0nat0r]

Re: It wont be to long now friends..

Blame Canada.

[runningman]

Re: It wont be to long now friends..



That trade stat you put up is funny because we export to you to consume our goods. I'm sure other people on the planet would love to consume our goods.

[res0nat0r]

Re: It wont be to long now friends..

better git on it then since we are TOTALLY FUCT in 90 days ya?

[Jenks]

Re: It wont be to long now friends..

That trade stat you put up is funny because we export to you to consume our goods. I'm sure other people on the planet would love to consume our goods.

hey buddy, if shit hits the fan down here like you suspect, you're kidding yourself if you don't think we won't march up there and take whatever the hell we want from you guys.



desperate times are gonna call for desperate measures, ya know. eat the weak first.

[runningman]

Re: It wont be to long now friends..

You guys think Minnesota is cold try coming to Canada in the winter. It's to cold for you guys up here that is why you guys stayed south