oldtime
Registered: Jun 2011
Posts: 7357 |
07-13-12 04:33 AM
Quote from Eight:
News from China is not from a free press.. they have riots all the time, they have massive unemployment among peasants from the countrysides that never worked on the books so they never get counted in the statistics, etc.. They are centrally planned and that has zero instances of success over the entire world history probably, it doesn't seem to work in the last couple of centuries..
How would we know if they had a crash? Do their leaders even care if they have a crash?
China's central bankers are savvy for sure, they are plenty well educated and they all have worked on Wall Street as traders. That is something to think about, maybe they want to lose the battle but win the war. They have been in talks with India/Russia/Japan about using a basket of regional currencies to replace the USD as the currency of choice and in fact, I believe they started doing that. They are more into economic warfare than prosperity and trade maybe. Totalitarian states don't need prosperity for everybody, just for the people that toe the line. Look at North Korea, what a hellhole that place is for those that don't worship the leaders very devoutly...
no kidding, it doesn't even have to include India and Japan, just a China/Russia currency that they both honor and exchange between themselves could be quite disconcerting to the world.
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