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Title: Jintao: dollar-denominated international currency system "product of the past" Post by: Cryptoman on January 16, 2011, 05:25:47 PM http://online.wsj.com/article/SB10001424052748703551604576085803801776090.html
Maybe we can help push the dollar along on the road to extinction. ;) The Chinese president also said that U.S. Federal Reserve policy was fueling inflation in emerging economies. Time for more yuan<->BTC exchangers? Title: Re: Jintao: dollar-denominated international currency system "product of the past" Post by: BioMike on January 16, 2011, 06:54:41 PM The Chinese have been tightly regulating their yuan (compared to the dollar). And now he starts complaining about the dollar? ::)
Title: Re: Jintao: dollar-denominated international currency system "product of the past" Post by: kiba on January 16, 2011, 08:13:55 PM The Chinese will lose too!
Title: Re: Jintao: dollar-denominated international currency system "product of the past" Post by: jimbobway on January 17, 2011, 05:19:42 AM Bitcoin is the solution to China's problems! We need to get Bitcoin to China!!!
Title: Re: Jintao: dollar-denominated international currency system "product of the past" Post by: ShadowOfHarbringer on January 19, 2011, 04:55:03 PM Bitcoin is the solution to China's problems! We need to get Bitcoin to China!!! The problem with Chineese is that they may get a bullet in their head for doing something the government doesn't like. They don't fuck around with dissidents in China like they do in democracies. If they even suspect that you're doing something nasty, you get sent to labor camp or worse. Title: Re: Jintao: dollar-denominated international currency system "product of the past" Post by: MoonShadow on January 19, 2011, 09:44:09 PM Maybe we can help push the dollar along on the road to extinction. ;) No need to do anything but wait. All fiat currencies have followed the same path. Although the FRN has had a pretty good run, perhaps the longest in the history of fiat currencies, it looks like the game is almost up. Quote The Chinese president also said that U.S. Federal Reserve policy was fueling inflation in emerging economies. That's actually a fair accusation, but it's almost as true for the Yuan. The Chinese government has been understating their inflation rate for a number of years now. Perhaps the past decade. They aren't as careful at it as the Federal Reserve, and they are going to have a currency crisis pretty soon. An in China, that is likely to lead to civil unrest, since the working man there ddoesn't even have the pretense of having some say in his own government's policies, and therefore the only path towards reform is bloody. I would caution anyone considering large investments into China. We know that China is a powder keg and the fuse is already lit, we just don't know how long the fuse is. |