Re: What could China do to the American economy if they traded their dollars for Euros?
- From: "Robert Miller" <stargazzr@xxxxxxxxxxxx>
- Date: Sat, 21 Oct 2006 22:18:06 -0600
"Nospam" <nospam@xxxxxxxxxxx> wrote in message
news:1479791.Me3fSUsGI7@xxxxxxxxxxxxxx
Nospam wrote:One thing that happened in '27 that helped bring about '29. Silver had been
US dollar has been artificially kept high by Chinese crediting us and
buying bonds. If they decide to wage an economic war against US, they
have
all what is required to bring US to it knees in a mater of few months.
Well, that being said don't fall into the trap of taking seriously RM
proposal of a bulion currency. Into a collapsing economy, the fact that a
bulion currency keep and even increase it value this prompt people with
money to hoard it rather than invest into economy.
This is going to transform any strong recession into a depression, as it
happened in 29. So, RM intention to popularize bulion currency as a weapon
against an economic war it wrong. Well, yes it is a weapon. But will harm
the country using it and not the other side. It is a weapon that can be
use
by rich to destroy and enslave and the working and middle class people.
losing value since 1865 with the big silver strike in New Mexico. Rather
than
increase the amount of silver in the silver dollar. The Congress kept the
silver
dollar the same and pocketed the difference. Europe and Japan were doing
the same thing. No major problem as only India and China were on a Silver
Standard. In '27 at the recommendation of the Bank of England. The bank
of India liquidated their Silver coinage which caused a crash in the price
of
Silver. It was thought at the time that the price of Silver could fall
below the
price of Tin.
People were dumping Silver and switching to gold as a store of value.
Contracts
were payable in Gold, but American banks had shipped much of the Gold to
the bank of England which was paying a higher rate on Gold deposits than
American Banks. An artificial shortage of gold in America, and a falling
silver
price as well as other factors of policy by the Federal Reserve regulating
banks
and lending institutions led to the Depression.
The libertarians (corporate party) have a long time intent to bring back a
neo-feudalism and enslave everybody else, and their support for a bulion
currency it is just another trick into that direction.
So yes. China have a huge economic weapon against US, but no the solution
is
not a bulion currency but to put stronger regulation on the market to stop
multinational corporations of looting US and en-powering China.
.
- References:
- What could China do to the American economy if they traded their dollars for Euros?
- From: Robert Miller
- Re: What could China do to the American economy if they traded their dollars for Euros?
- From: Zerge
- Re: What could China do to the American economy if they traded their dollars for Euros?
- From: Nospam
- Re: What could China do to the American economy if they traded their dollars for Euros?
- From: Nospam
- What could China do to the American economy if they traded their dollars for Euros?
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