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Old 05-26-2012, 12:29   #152
Glocksanity
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Join Date: Feb 2012
Location: Los Angeles, Man, Los Angeles
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Quote:
Originally Posted by Glotin View Post
Sure. But like Devil Dog said, while the dollar will someday be replaced by something, there is no viable replacement currently available.
Okay, not to belabor the point, but you are totally missing the point. Not using the US Dollar is real easy.

From the AP: "Japan and China are expected to start direct trading of their currencies as early as June as part of efforts to boost bilateral trade and investment, according to reports.

With the planned step, exchange rates between the yen and the yuan will be determined by their transactions, departing from the current "cross rate" system that involves the dollar in setting yen-yuan rates, Kyodo News said on Saturday.

The two governments are eyeing setting up markets in Tokyo and Shanghai, the Yomiuri Shimbun said."


You see, there does not need to be a new fiat reserve currency to replace the US Dollar. Countries can go bi-lateral, bypassing the US Dollar altogether. They can also us gold as well. This is going to be an economic disaster for the US...and soon.


Get gold and hold on for dear life. It is your life boat. US Dollar denominated financial assets are in a bubble that is getting ready to burst. Ha ha ha for those that stick with them. You have been warned.
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Last edited by Glocksanity; 05-26-2012 at 12:30..
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