Bad Tidings from China

Discussion in 'Preparedness & Survival' started by Quackerbacker, Apr 25, 2011.

  1. Quackerbacker

    Quackerbacker
    Springfield, OR
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    BEIJING, April 23 (Xinhua) -- China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

    The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.

    China's foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.

    Tang's remarks echoed the stance of Zhou Xiaochuan, governor of China's central bank, who said on Monday that China's foreign exchange reserves "exceed our reasonable requirement" and that the government should upgrade and diversify its foreign exchange management using the excessive reserves.

    Meanwhile, Xia Bin, a member of the monetary policy committee of the central bank, said on Tuesday that 1 trillion U.S. dollars would be sufficient. He added that China should invest its foreign exchange reserves more strategically, using them to acquire resources and technology needed for the real economy.

    China should cap forex reserves at 1.3 trillion U.S. dollars: China banker

    There were 10 senators in China last Thursday. Pray they managed to kick the can a little further down the road.
     
  2. Sasquatchvnv

    Sasquatchvnv
    Port Orchard
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    Sick of kicking the can down the road - how about some real fixes? Start by clearing out the District of Criminals and putting some americans with morals and a brain in charge. Wake up America!!
     
  3. armedredneck

    armedredneck
    Oregon
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    Pretty much knew this was coming. They're talking about it now. That means they're not far from following through with it. Here comes the suck.
     
  4. Sasquatchvnv

    Sasquatchvnv
    Port Orchard
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    Embrace the suck.
     
  5. mjbskwim

    mjbskwim
    Salmon,Idaho
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    Do you,or have you ever voted for an incumbent?

    If so you haven't helped the problem.Every time we re-elect the same people,they see their job as a career and forget about the "doing this for America and it's people" speech they gave at election time.

    Kinda like putting term limitations in place when we already have them-VOTING

    But,alas, we are too stupid to just elect someone else and we need a law to tell us to put new people in Washington.

    Start limiting their terms by voting them out of office.Real simple
     
  6. Just Jim

    Just Jim Well-Known Member

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    LOL take two trillion from the Chinese and all the US debt Japan owns then sell it back to the fed. If this happens you will be officialy third world. China will be the new super power.

    Read a little history and see how we became no. one, we just loaned out money. Your progressive politicions have sold you out and you don't even know where the trillions went..

    jj
     
  7. Just Jim

    Just Jim Well-Known Member

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  8. svxr8dr

    svxr8dr
    Vancouver, WA
    OathKeeper #004404

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    Amen
     
  9. Markjz

    Markjz
    Longview, WA
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    when_the_shit_hits_the_fan_3215952.jpg
    here we go.. sure would be nice if we could just be wrong for once.
    I wouldn't mind if I was laughed at the rest of my life. -_-
     
  10. OPAWY

    OPAWY
    NorthCentral Wyoming
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    Put on the crash helmets and seat belts. Gonna be a rough ride. Ya can't buy any silver right now in my area. Nothing available.
     
  11. EZLivin

    EZLivin
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  12. Sasquatchvnv

    Sasquatchvnv
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  13. armedredneck

    armedredneck
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    SSSSSSSSCCCCCCCCCCCCCCCCCRRRRRRRRRRREEEEEEEEEEEEEEEEWWWWWWWWWWWWWWWWEEEEEEEEEEEEEEEEEEDDDDDDDDDDDDDDDDD!!!!!!!!!!!!!!!!!!!!
     
  14. simpleguy

    simpleguy
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    The short story is if the politicians we all elected continue to vote along the lines of "kicking the can down the road", instead of really and proactively solving our problems economically, then the rest of our world will "help" us by not continuing to take part in the sham....

    My take, I am glad that China is doing this. We put ourselves in this situation, it's sad we are not solving our own problems.
     
  15. EZLivin

    EZLivin
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    At least everyone in the US has had ample warning if they chose to pull their heads out of the sand and look around. This has been years in coming. Who I feel sorry for is my parent's generation. They are not internet savvy, and continue to get their information from newspapers and the mainstream media. They see problems in the making, but they just don't get how serious it is (how could they get it with the information sources they use?).

    I am quick to voice my disagreement with those who have put all their funds into supplies (with the intention of using them for barter) while disregarding safe-haven currencies (metals, Canadian $, Swiss Franc, etc.). But I certainly applaud them for having recognized the problem and having acted to plan as they saw/see fit. All of us who have planned and acted should be infinitely better off than those who chose to ignore the signs.
     
  16. salmonriverjohn

    salmonriverjohn
    N.W Oregon coast, Gods country
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    6/30, QE2 ends.
     
  17. Just Jim

    Just Jim Well-Known Member

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    "I am quick to voice my disagreement with those who have put all their funds into supplies (with the intention of using them for barter) while disregarding safe-haven currencies (metals, Canadian $, Swiss Franc, etc.). But I certainly applaud them for having recognized the problem and having acted to plan as they saw/see fit. All of us who have planned and acted should be infinitely better off than those who chose to ignore the signs."

    Let's see now, a good bag of rice cost about $16 for 25 lbs. I won't sell it for gold or silver when the dollar goes down. I will eat it. Got to see the seasonings people will put on their gold and silver LOL.

    The Fed is doing a press conference tomorrow. I wonder what news they bring?

    jj
     
  18. EZLivin

    EZLivin
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    Me too. But I will likely add some country gravy or perhaps a few herbs from the garden.

    Good grief Jim; haven't you learned anything on these threads! :D People will exchange metals for the local currency in order to buy fresh tasty food items from local merchants who will be pleased to make the sale. But SOME people here will be waiting at the merchant day in and day out until such time as the merchant is willing to barter his/her precious items for something he does not need (like ammo, or rodent jerky, or whatever). ;)

    I think the FED's news will be something like "blah blah blah BS blah blah BS"...
     

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