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Topic: China's Central Bank says: No Longer in China’s Interest to Increase Reserves (Read 1512 times)

full member
Activity: 196
Merit: 101
Oh please you mean like how they 'successfully' shut down Piratebay and Silkroad? Like how they went after filesharing?

*Downloads an episode of The Daily Show and The Big Bang Theory just to piss them off more*

well, they did in fact shut down Silk Road, this Silk Road operating now I think has no relation to the pervious one, it just took their name and their customers Cheesy
legendary
Activity: 1540
Merit: 1000
Oh please you mean like how they 'successfully' shut down Piratebay and Silkroad? Like how they went after filesharing?

*Downloads an episode of The Daily Show and The Big Bang Theory just to piss them off more*
full member
Activity: 196
Merit: 101
It could happen, but with Bitcoin the whole game has changed, I think people will just move their money out and let the governments collapse before they come up with anything, we now have a way to effectively protest against government decisions that politicians can't change.

oh, you're mistaken
they can change it, they surely can..

and they are douchbags so don't think they won't be such ass*les to turn on us..
legendary
Activity: 1540
Merit: 1000
It could happen, but with Bitcoin the whole game has changed, I think people will just move their money out and let the governments collapse before they come up with anything, we now have a way to effectively protest against government decisions that politicians can't change.
hero member
Activity: 826
Merit: 501
in defi we trust
Quote
Also you already said that 10 years it's a possibility. It means you don't see this as certain. That's enough for me.

That's because I have calculated there's a chance that the leaders might band together and suddenly 'save' the economy through some mad scheme like discovering an alien race and dumping all the debt on them. I very rarely am 100% sure on something unless it's blatantly obvious to me.

You see , I believe they will find a way of keeping the s* going for at least 10-20 years.
legendary
Activity: 1540
Merit: 1000
Quote
Also you already said that 10 years it's a possibility. It means you don't see this as certain. That's enough for me.

That's because I have calculated there's a chance that the leaders might band together and suddenly 'save' the economy through some mad scheme like discovering an alien race and dumping all the debt on them. I very rarely am 100% sure on something unless it's blatantly obvious to me.
hero member
Activity: 826
Merit: 501
in defi we trust
Have you seen the rate that we're printing money and how the federal reserve is acting exactly like you while also bluffing about tapering at the same time? I think 10 years is a real possibility, 5 years could also happen depending on how desperate they get. The financial crisis in 2008 - 2009 practically happened overnight as well, you're going to be in denial about that too or are you going to claim nothings going to happen still? America and Europe's biggest creditor is getting ready to abandon it, that's actually one of the biggest signs I've seen so far and leads me to believe western economies will end up collapsing far sooner than 10 years depending on how eager China are to get rid of the government treasuries they hold.

We won't know for sure the exact timing but with how desperate all our leaders are getting I'm not sticking around to see if they do anything sensible.

There were lots of people who new the 2008 will happen. There were lots of signs in the air.
Also you already said that 10 years it's a possibility. It means you don't see this as certain. That's enough for me.
Also as an European , I really don't care too much about Europe's debts since it looks like this:



Nor , do I give a F*** , about the dollar.
legendary
Activity: 1540
Merit: 1000
Have you seen the rate that we're printing money and how the federal reserve is acting exactly like you while also bluffing about tapering at the same time? I think 10 years is a real possibility, 5 years could also happen depending on how desperate they get. The financial crisis in 2008 - 2009 practically happened overnight as well, you're going to be in denial about that too or are you going to claim nothings going to happen still? America and Europe's biggest creditor is getting ready to abandon it, that's actually one of the biggest signs I've seen so far and leads me to believe western economies will end up collapsing far sooner than 10 years depending on how eager China are to get rid of the government treasuries they hold.

We won't know for sure the exact timing but with how desperate all our leaders are getting I'm not sticking around to see if they do anything sensible.
hero member
Activity: 826
Merit: 501
in defi we trust
Stop being in denial Niothor, that kind of thing doesn't work now Tongue

It will collapse , that's is certain. But 10 years?
Common , search for papers that we're saying the same in 2004 and guess what.
Things like this don't happen overnight. And for a country and a currency 10 years it's overnight.
legendary
Activity: 1540
Merit: 1000
Stop being in denial Niothor, that kind of thing doesn't work now Tongue
hero member
Activity: 826
Merit: 501
in defi we trust
Is the US dollar a worldwide ponzi scheme? Yes, there are no doubts. I predict the collapse in less than 10 years.

Yeah , the same was said for the EU , in 2007, 2008 and .. so on.
Less than 10 years?  You must be joking.
full member
Activity: 199
Merit: 100
Is the US dollar a worldwide ponzi scheme? Yes, there are no doubts. I predict the collapse in less than 10 years.
legendary
Activity: 3430
Merit: 3080
The reason other countries' currencies are low is because they are being continuously devalued or countries hardly produce anything and trade it, it's fraud, plain and simple, why should China just keep letting itself get conned out of it's exports for nothing? That's all that's happening here, sure they could lower the price but they'd have to make sure that they were actually getting something in return.

Also, paper being debt is a fact and not something you can just brush off whenever you debate currencies/economics.

That's not the problem! You're saying the opposite.
China is keeping the yuan undervalued so their products could be sold cheaper. They don't want to lower the price of their currency.

But they are doing it anyway. And it is their plan, I think. They have focused on building up the best reserves of truly valuable capital, production and manufacturing. And now they're flushing the old monetary system down the toilet, and promoting a new monetary system while buying lots of gold to hedge. It's a smart game plan. If a little high-wire.
hero member
Activity: 826
Merit: 501
in defi we trust
The reason other countries' currencies are low is because they are being continuously devalued or countries hardly produce anything and trade it, it's fraud, plain and simple, why should China just keep letting itself get conned out of it's exports for nothing? That's all that's happening here, sure they could lower the price but they'd have to make sure that they were actually getting something in return.

Also, paper being debt is a fact and not something you can just brush off whenever you debate currencies/economics.

That's not the problem! You're saying the opposite.
China is keeping the yuan undervalued so their products could be sold cheaper. They don't want to lower the price of their currency.
legendary
Activity: 1540
Merit: 1000
The reason other countries' currencies are low is because they are being continuously devalued or countries hardly produce anything and trade it, it's fraud, plain and simple, why should China just keep letting itself get conned out of it's exports for nothing? That's all that's happening here, sure they could lower the price but they'd have to make sure that they were actually getting something in return.

Also, paper being debt is a fact and not something you can just brush off whenever you debate currencies/economics.
hero member
Activity: 826
Merit: 501
in defi we trust
They're getting fuck all in return for those exports, paper money is debt, so all those western countries who are 'helping' China grow are really just in a parasitic relationship, it's the equivalent of someone staying in your house, eating your food and sleeping in your bed forcing you to work for longer hours and then having the balls to tell you that they're giving you extra employment by making you work longer for them. The only difference is this is happening with entire countries.

The same thing is happening with other resource/production based countries in Europe as well, Germany, Norway etc. are feeding the habits of all the other countries like Italy, Greece and Spain who don't produce anything or trade things in equal value.

The thing is that without their low price yuan they won't be exporting anything and getting anything in return.
I'm not going to get into a paper money debt debate with you. Just the facts. Valued currency bad for exports good for imports. China needs the opposite.
legendary
Activity: 1540
Merit: 1000
They're getting fuck all in return for those exports, paper money is debt, so all those western countries who are 'helping' China grow are really just in a parasitic relationship, it's the equivalent of someone staying in your house, eating your food and sleeping in your bed forcing you to work for longer hours because of the higher bills and then having the balls to tell you that they're giving you extra employment by making you work longer for them. The only difference is this is happening with entire countries.

The same thing is happening with other resource/production based countries in Europe as well, Germany, Norway etc. are feeding the habits of all the other countries like Italy, Greece and Spain who don't produce anything or trade things in equal value and all they're getting is the 'promise' these countries will pay them back in return at a later date.
hero member
Activity: 826
Merit: 501
in defi we trust
so basically now china wants the strengthen its own currency, which will drive out foreign investment right?

It will drive out weak and debt based investment, if other countries want to trade with them they're going to have to fix up their economies and make their currency worth something to others. Not only that, we have Bitcoin ffs, it's worth $1000 right now, I'm pretty sure that any of us who have half a brain are going to be entirely capable of trading with the Chinese.

The people who complain about a rising Yuan are the ones who benefit from the previous system of money printing.

Are you insane?
A strong yuan will kill 90% of the chinese exports. Why the hell do you think they keep the price in check and only allow small fluctuation.
legendary
Activity: 1540
Merit: 1000
so basically now china wants the strengthen its own currency, which will drive out foreign investment right?

It will drive out weak and debt based investment, if other countries want to trade with them they're going to have to fix up their economies and make their currency worth something to others. Not only that, we have Bitcoin ffs, it's worth $1000 right now, I'm pretty sure that any of us who have half a brain are going to be entirely capable of trading with the Chinese.

The people who complain about a rising Yuan are the ones who benefit from the previous system of money printing.
sr. member
Activity: 434
Merit: 250
so basically now china wants the strengthen its own currency, which will drive out foreign investment right?
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