China: We hate you guys x2 for depreciating the dollar
This actually came out a few days ago. I guess I missed it buried by the LMSM somehow (kinda like the democrats did with Burris’s admission).
In the current financial crisis, many people wonder how much longer China will buy American debt, or whether they will start dumping it and create an even deeper crisis for Washington. China apparently answered that question earlier this week in its assessment of its options — which is to say, none. Like Richard Gere in An Officer and a Gentleman, they’ve got nowhere else to go:
China will continue to buy US Treasury bonds even though it knows the dollar will depreciate because such investments remain its “only option” in a perilous world, a senior Chinese banking regulator said on Wednesday.
China has used the dollars it accumulates selling manufactured goods to US consumers to accumulate the world’s largest holding of Treasuries. …
Mr Luo, speaking at the Global Association of Risk Management’s 10th Annual Risk Management Convention, said: “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.”
Mr Luo, whose English tends toward the colloquial, added: “We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”
Related posts:
- No Youtube for you China (again) China has apparently blocked the YouTube video-sharing website because it...
- Geithner speaks, dollar plummets, now tax cheat is open to the ‘China Proposal!’ Treasury Secretary and Tax Cheat Tim Geithner sent the dollar...
- China dumps the dollar for copper! A ‘Copper Standard’ for the world’s currency system? Hard money...
- Gulf Arab State in Secret Talks to Drop Dollar The world’s oil producing Arabs, as well as China and...
- Russia ready to abandon dollar in oil, gas trade with China Rut-Roh. Did anyone else hear Putin say this past Wednesday...
Related posts brought to you by Yet Another Related Posts Plugin.
Comments
One Response to “China: We hate you guys x2 for depreciating the dollar”
Lets hear your point of view! - A warning to the liberal whiners who seem intent to flood our comment section with profanity. Save your keystrokes. The anti spamming script will just automatically delete your comment. Feel free to disagree with the host on any article posted here, but flame baits, racism, and profanity laced tirades will NOT be tolerated, and will eventually get your IP address banned!
Obama Joker Poster
Random Idiots
-
Tax Day Tea Parties
-
Posters
Newsbusters- Bad Headline: 'Homeowner Holds Burglar Hostage'
- NYT Environmental Writer Confirms Probable Authenticity of Hacked Climate Change Messages
- CNN's Phillips: Kids Who Bully Pledge Spurner Are 'Wads, Dork Wads'
- CNBC’s Regan Worries 'Freshman Congressmen from Timbuktu' to Have Too Much Policy Influence if Fed Audit Bill Passed
- Oops! Frequent Maddow Guest Cox Undercuts Nicolle Wallace's Catty Claims About Palin
Resources
Crooked Liberals
Obama’s Corrupt Cabinet
Tim Geither - Tax Cheat
Tom Daschle - Tax Cheat
Kathleen Sebelius - Tax Cheat
Hillary Clinton - Overseas conflicts of interests
Bill Richardson - Pay to Play
Judd Gregg - Obama steals GOP senate seat
Eric Holder - Pardons terrorists and Marc Rich
Barney Frank - Banking Queen
Nancy Pelosi - War Criminal/Liar!
Charlie Rangel - Tax cheat
Chris Dodd - Mortgage Fraud / AIG
Bill Richardson - Pay to Play
Chuck Schumer - Porky
Well said