The Fed is Getting Serious about Creating a Fake err. Digital Dollar

Discussion in 'Economics' started by JSOP, May 20, 2021.

  1. JSOP

    JSOP

    For the record, China does not own USA, not yet. 99.75% of the US debt is held by the US people, not foreign countries. Foreign countries only own 0.25% of the outstanding US debt and out of this 0.25% of the foreign debt, China owns 25%. So in total, China owns 0.25 * 0.25% = 0.0625% of the outstanding US debt. So even if China tomorrow wants to call in all of the US debt, if US can't pay up, US would've just defaulted on 0.0625% of the debt and China would've owned just 0.0625% of USA IF it's collateralized which I am not even sure if it is so in terms of buying US out, China is nowhere near of doing that.

    mRNA actually does not penetrate into the nucleus of the cells in the body where the DNA lies so they won't modify our genetic material in anyway. So unless you mate with a Chinese and have children, your children won't look Chinese even if they are fully vaccinated. That I am not concerned.
     
    #31     May 23, 2021
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  2. JSOP

    JSOP

    Bitcoin is not really the ideal digital currency imo nor is it an answer to digital currency. Its freely traded value is way too volatile for it to be a bona fide tender, the value has to be more stable.
     
    #32     May 23, 2021
  3. Turveyd

    Turveyd

    US Owes China about 1 Trillion, 1 Trillion used to be a big number, but these days yep pretty small. ( From a quick Google search )
     
    #33     May 23, 2021
  4. Innovated? No, that would imply creating something new. What they did was blatantly lying, stealing, corrupting, and nepotistically enriching themselves. Please don't confuse those two very different concepts.

    The Japanese innovated and pushed many things couple notches forward. The Chinese so far have only stolen and lied to everyone.

     
    #34     May 23, 2021
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  5. JSOP

    JSOP

    Yeah that I agree. At most what they did was improving upon what's already invented by someone else.
     
    #35     May 23, 2021
  6. You are flattering the Chinese copy machine. What many Japanese companies did was improving things. They took existing technology and made it many fold better. Chinese so far copied everything and figured out how they can replace quality components with plastics to drive up profit margins, because they know perfectly well that western trailer park trash buys anything at a low price.

     
    #36     May 24, 2021
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  7. JSOP

    JSOP

    That's what they consider as "improving". :)
     
    #37     May 24, 2021
  8. Turveyd

    Turveyd

    If you build things to last, then you'll only sell it once, old chinese proberb probably defo what they practice.
     
    #38     May 24, 2021
  9. SunTrader

    SunTrader

    Japan "invented" copying (and China then beat them at that game) and not much else.
     
    #39     May 24, 2021
  10. Of course. Electric shavers that just don't break, walk man that looked cool (at that time), going small with laptops (Vaio and many others), making many electronic and non electronic items smaller for better daily use, most durable cars in the world, beautiful, clean parks cared for by the impeccable work of Japanese gardeners, a work ethic even at fast food outlets that is unsurpassed anywhere else. I can continue the list forever

    What has China invented or improved recently other than very efficiently spreading the Wuhan virus? ,...oh wait, wasn't it gun powder and printing? Must have leaked by mistake.

     
    Last edited: May 24, 2021
    #40     May 24, 2021