Thailand calls on Asia-Pacific region to dump USD as reserve currency, adopt Yuan.

Discussion in 'Economics' started by MohdSalleh, Nov 15, 2010.

  1. They trying to get the ball rolling?

    Abhisit calls on Asia to use yuan in trade
    G20 makes no progress in curbing capital flows

    * Published: 13/11/2010 at 12:00 AM
    * Newspaper section: News

    Prime Minister Abhisit Vejjajiva, fearful of the effects of the soaring baht due to massive capital inflows, has proposed the use of the Chinese yuan as a major regional trading currency.

    Mr Abhisit echoed a call made by the Asian Development Bank (ADB) to use China's yuan as a major trading currency in the region to reduce the impact of currency volatility, especially linked to the weakening of the US dollar. He said he was the one who proposed the idea to the ADB.

    He added, however, that for the Chinese yuan to have a greater role in transactions in the region, China would have to relax its tight controls on the currency and its capital account.
  2. U.S. president, sec of state, and sec of def acted like amateurs, tookt an Asia tour and tried to drive a wedge between China and its Asian neighbor. But U.S. had almost nothing to offer except empty promises and non-diplomatic bad-mouthing of China; and those Asian neighbors all have China their biggest trading partner without exception. U.S. needs to do better than that to be relevant in Asia.
  3. One can only support Thailand´s proposal. The US is not anymore a super power country - it´s a super printing country. Why not use your printer at home and just print as you need ( rhetoric question ) ? :confused:
  4. Why are we no longer a Super Power country? Because WE PISSED IT ALL AWAY.

    1. Gave away our manufacturing base

    2. Went broke because
    a. Gave too much money in foreign aid
    b. Spent too much money maintaining too many military bases around the world
    c. Spent too much money fighting other people's wars while getting nothing in return except pride
    d. We have no effective illegal immigration policy
    e. We have no effective energy policy
    f. We have gone too far in the direction of Communism
  5. The US has more gold than any other nation. It is also a custodian of many other nations' gold.

    In my view, when the current debt based fiat system ends, the US will still be ahead as gold will likely be used again.

    That doesn't mean that it will be good times again for the average American, though. That's another issue.
  6. Thailand can't even keep their people happy. They are always about to get another coup d' etat. Like all failed countries they are blaming the USA for their problems.
    Maybe it's just a retaliation against the western world for the crackdown on their main "industry": prostitution, including children prostitution.
    Thailand is a zero.
  7. India has the most gold.

  8. I'm speaking of official gold holdings. Gold that the government already owns. The US has about 8,100.

    India (officially) has only 557 tons. 200 were recently (last year) purchased by the IMF @ just over $1,000 an ounce.
  9. I do not recall the source, but I remember reading U.S. government does not own a single once of gold. The gold at Fort Knox belongs to FED. There was one female secreatary to one of the big IB president reveal to the press a few decades ago on how the bankers took possession of U.S. gold. She was found falling to death from her office in a skyscraper the second day. At the highest level of U.S. ruling class, it is very insidious, corrupt, and scary.
    #10     Nov 15, 2010