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Do you know about the currency war with China right now?

Discussion in 'Off Topic' started by SheepDog223, Nov 13, 2010.

  1. SheepDog223

    SheepDog223 Salem Well-Known Member

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    Here is the link. The U.S. is trying to devalue our dollar to... Reduce the debt it has to pay off, increase the cost of things including your house so the financial sector doesn't have that burden, make our products compete on the global market to increase job rates in the U.S. I'm sure I'm forgetting something right now but read the article and research for yourself.

    The QE2 started yesterday, the U.S. started dumping money onto the market. China stated before anything happened that they were going to do whatever it took to counter our move.... They did. While we are printing 600 billion dollars our dollar is going UP! How long do you think we can play this game when we're up against China? The U.S. is deep in debt and China saves something like 25% og it's GDP.

    I do not like this one bit sam I am. Not with China, not with Iran. Looks like the rich will be eating rice and spam.
     
  2. Just Jim

    Just Jim Well-Known Member

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    Yep, people in the USA lost 20% of the value of their dollar with QE2. Next comes QE3 and QE4. The SHTF

    jj
     
  3. Just Jim

    Just Jim Well-Known Member

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  4. SheepDog223

    SheepDog223 Salem Well-Known Member

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    No, the dollar went up because china is countering our efforts.
     
  5. Just Jim

    Just Jim Well-Known Member

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    Next time you go to the grocerie store tell me how much the dollar went up LOL

    jj
     
  6. SheepDog223

    SheepDog223 Salem Well-Known Member

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    There is no LOL about it. The dollar has lost 0% due to the QE2 so far. It has gained because like I said, China is lowering it's currency to keep ours in check.
     
  7. powersbj

    powersbj Seattle Area Active Member

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    Oil is traded in the dollar, and food doesn't come from china. So the price of the barbie dolls might hold, but everything else is gonna rise. Although JJ, the rise in food might have more to do with the fires in Russia and a terrible crop the world over.
     
  8. saxon

    saxon springfield Active Member

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