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Post by The Great Aztec Joe on Sept 11, 2010 8:07:32 GMT -8
We have been losing the war because we refuse to admit that they are attacking us. They are not just attacking us, they are destroying us, and we sit back and do nothing about it.
I propose we go to war and win instead of losing all of the time.
The war, of course is an Economic War.
As long as China is allowed to price their Yuan (Renminbi -- RMB
1.00 Chinese Yuan = 0.1476 U.S. Dollar) at "Pennies" to the Dollar, their products will continue to undercut ours in the international marketplace. We have asked and asked and asked and asked and pleaded and moaned, but the Chinese continue to wage this war.
The way we go to war is we refuse to buy any Chinese products until they float their currency in the international market place.
What's sauce for the goose (is sauce for the gander) applies.
I propose that we do this until their goose is cooked.
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Post by aztecwin on Sept 11, 2010 11:09:16 GMT -8
Should we just stiff them on our debt? After all it is just a book keeping entry.
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Post by The Great Aztec Joe on Sept 12, 2010 6:58:39 GMT -8
Should we just stiff them on our debt? After all it is just a book keeping entry. Actually, no. That would not be a good thing to do. Remember it is the Chinese who have been pegging their Yuan at pennies to the Dollar. The one thing that we do not want them to do is start to frantically sell our Dollar. If they did, we would have to order the FED to buy all of them that China wants to sell in their fire sale. By having the FED buy, we ensure that the Dollar remains stable. Panics could destroy the dollar and nobody would buy our products. No, in that area, we continue to do business the old fashioned way by having a mythical bank funding all of our debt for free. THAT is the best damn system in World History. If we did not have the FED we would collapse. |
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Post by aztecwin on Sept 12, 2010 8:28:07 GMT -8
Should we just stiff them on our debt? After all it is just a book keeping entry. Actually, no. That would not be a good thing to do. Remember it is the Chinese who have been pegging their Yuan at pennies to the Dollar. The one thing that we do not want them to do is start to frantically sell our Dollar. If they did, we would have to order the FED to buy all of them that China wants to sell in their fire sale. By having the FED buy, we ensure that the Dollar remains stable. Panics could destroy the dollar and nobody would buy our products. No, in that area, we continue to do business the old fashioned way by having a mythical bank funding all of our debt for free. THAT is the best damn system in World History. If we did not have the FED we would collapse. I see, you would have them stiff us. All of that "funding our debt for free" just debases the dollar. I think you better get a new fantasy funding system dreamed up. This one does not hold water and is getting old. |
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Post by The Great Aztec Joe on Sept 16, 2010 5:50:04 GMT -8
WASHINGTON — The Obama administration is moving to take a harder stance on the Chinese government’s trade and currency policies, with anger toward China rising in both political parties ahead of midterm elections. Treasury Secretary Timothy F. Geithner, in separate hearings before House and Senate panels, plans to acknowledge on Thursday that China has kept the value of its currency, the renminbi, artificially low to help its exports and has largely failed to improve the situation as it promised to do in June. “We are concerned, as are many of China’s trading partners, that the pace of appreciation has been too slow and the extent of appreciation too limited,” Mr. Geithner plans to say, according to excerpts of his statement released on Wednesday night by the Treasury Department. The United States brought two cases to the World Trade Organization on Wednesday, accusing China of improperly blocking imports of a specialty steel product and denying credit card companies access to its markets. The move came just hours before House lawmakers demanded action on the currency issue. finance.yahoo.com/news/US-Adopts-Tougher-Stance-on-nytimes-3527568843.html?x=0&sec=topStories&pos=2&asset=&ccode= |
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