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| drocillo |
 Posted: Fri Jan 06, 2006 8:36 pm |
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Guest
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I am reposting this message -- I posted it yesterday, but it never
showed up.
I think the world's crisis of the US currency (about which people
talked a lot for a long time) has started, as can be seen from the
article below. The bumpy ride is ahead of us; not everyone will survive
it. (The prospective of my permanent job will go "poof !" with it as
well.)
\/
================================================================
Translated into English from http://www.vz.ru/news/2006/1/6/17917.html
by http://www.worldlingo.com/wl/translate
Friday, 6 January 2006
China frightened the world currency market
In the alert situation began today the tradings on the world currency
market after the unexpected statement of China about the intention to
diversify their foreign currency reserves with the decrease in them of
dollar component.
The corresponding brief statement was disseminated on Thursday by the
in the evening government organ of China on to currency exchange
regulation - by state administration of foreign exchange.
Today dollar part in the foreign exchange reserves OF C.P.R. - CHINESE
PEOPLES' REPUBLIC reached sum of 800 billions. dollars. It represents
in essence the treasury bonds of the Board of Exchequer OF THE USA. It
is expected, that in the present year China will available to itself on
the hands of the bills of the U.S. Government for the gigantic sum into
1 trln. dollars.
Now the operators of world currency market are lost in the guesses
relative to the follow-ups of the financial authorities of China.
However, as stated today the representative of actively working in
China bank Morgan Stanley, the new deal of China will not blow up the
global positions of US dollar, however, it will lead to the greater
presence in state reserves OF C.P.R. - CHINESE PEOPLES' REPUBLIC
currency and securities of the European Union, and also neighboring
with China states, ITAR- TASS transfers.
At the same time dollar a little grew on Friday on the Asian tradings,
however, his increase was that limited in connection with the
expectation by the traders of the publication of the data about the
employment in THE USA, which will help to more precisely forecast the
future money policy OF THE USA. Data will be published into 16.30 msk.
At the same time, as reports Reuters, some traders count, that even the
high level of employment will hardly considerably increase dollar. "the
mood of market in reality changed to the side of sale of dollar. Even
if we have strong numbers, many will attempt to sell during ralli ", -
said manager Trust & Custody Services Bank Mr Hideaki Furuyama.
To 11.25 msk the dollar was sold for 116,05 yen, after rising with
115,90 in New York. Euro- a little was reduced to 1,2091 for the
dollar.
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| Straydog |
| Posted: Fri Jan 06, 2006 9:16 pm |
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Guest
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Interesting news and I heard about some of it. Well, if China dumps USD on
the market, my first guess is that might depress the value of USD and
increase the value of whatever they want to replace it with which might
actually help US exports and make US imports more expensive. There will be
a whole wave of secondary effects and I can't begin to guess how that will
all end up or if the secondary effects might cancel out the main move.
Be aware that most stock markets in the world (except, I think, Russia,
China, and US) have been going up quite a bit in the recent months. China
may be thinking about buying positions in stock markets going up, or
buying US real estate and/or corporations? If they dump USD, maybe it will
make interest rates go down? I'll keep my eyes open for news on this and
pass it on.
On Fri, 6 Jan 2006, drocillo wrote:
[quote:97ec604c32]I am reposting this message -- I posted it yesterday, but it never
showed up.
I think the world's crisis of the US currency (about which people
talked a lot for a long time) has started, as can be seen from the
article below. The bumpy ride is ahead of us; not everyone will survive
it. (The prospective of my permanent job will go "poof !" with it as
well.)
\/
================================================================
Translated into English from http://www.vz.ru/news/2006/1/6/17917.html
by http://www.worldlingo.com/wl/translate
Friday, 6 January 2006
China frightened the world currency market
In the alert situation began today the tradings on the world currency
market after the unexpected statement of China about the intention to
diversify their foreign currency reserves with the decrease in them of
dollar component.
The corresponding brief statement was disseminated on Thursday by the
in the evening government organ of China on to currency exchange
regulation - by state administration of foreign exchange.
Today dollar part in the foreign exchange reserves OF C.P.R. - CHINESE
PEOPLES' REPUBLIC reached sum of 800 billions. dollars. It represents
in essence the treasury bonds of the Board of Exchequer OF THE USA. It
is expected, that in the present year China will available to itself on
the hands of the bills of the U.S. Government for the gigantic sum into
1 trln. dollars.
Now the operators of world currency market are lost in the guesses
relative to the follow-ups of the financial authorities of China.
However, as stated today the representative of actively working in
China bank Morgan Stanley, the new deal of China will not blow up the
global positions of US dollar, however, it will lead to the greater
presence in state reserves OF C.P.R. - CHINESE PEOPLES' REPUBLIC
currency and securities of the European Union, and also neighboring
with China states, ITAR- TASS transfers.
At the same time dollar a little grew on Friday on the Asian tradings,
however, his increase was that limited in connection with the
expectation by the traders of the publication of the data about the
employment in THE USA, which will help to more precisely forecast the
future money policy OF THE USA. Data will be published into 16.30 msk.
At the same time, as reports Reuters, some traders count, that even the
high level of employment will hardly considerably increase dollar. "the
mood of market in reality changed to the side of sale of dollar. Even
if we have strong numbers, many will attempt to sell during ralli ", -
said manager Trust & Custody Services Bank Mr Hideaki Furuyama.
To 11.25 msk the dollar was sold for 116,05 yen, after rising with
115,90 in New York. Euro- a little was reduced to 1,2091 for the
dollar.
====================================================================
[/quote:97ec604c32] |
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| Luigi Donatello Asero |
| Posted: Fri Jan 06, 2006 9:22 pm |
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Guest
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"Straydog" <asd@panix.com> skrev i meddelandet
news:Pine.NEB.4.63.0601062109350.8325@panix1.panix.com...
[quote:3fb0312df7]
Interesting news and I heard about some of it. Well, if China dumps USD on
the market, my first guess is that might depress the value of USD and
increase the value of whatever they want to replace it with which might
[/quote:3fb0312df7]
What are they likely to replace it with in your opinion?
--
Luigi Donatello Asero
https://www.scaiecat-spa-gigi.com/sv/boende-i-italien.php |
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| Guest |
| Posted: Fri Jan 06, 2006 9:29 pm |
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On Fri, 6 Jan 2006 21:16:52 -0500, Straydog <asd@panix.com> wrote:
[quote:fb29562ff3]Be aware that most stock markets in the world (except, I think, Russia,
China, and US) have been going up quite a bit in the recent months. China
may be thinking about buying positions in stock markets going up, or
buying US real estate and/or corporations?
[/quote:fb29562ff3]
As you say - and a cheaper dollar also means more of this:
http://www.economyincrisis.org/article_15.html
- - - -
Just another albino black sheep |
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| Guest |
| Posted: Fri Jan 06, 2006 9:29 pm |
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On Sat, 07 Jan 2006 02:22:11 GMT, "Luigi Donatello Asero"
<jaggillarfotboll@telia.com> wrote:
[quote:109e9b9ac2]"Straydog" <asd@panix.com> skrev i meddelandet
news:Pine.NEB.4.63.0601062109350.8325@panix1.panix.com...
Interesting news and I heard about some of it. Well, if China dumps USD on
the market, my first guess is that might depress the value of USD and
increase the value of whatever they want to replace it with which might
What are they likely to replace it with in your opinion?
[/quote:109e9b9ac2]
A larger differentiated basket of currencies. Euros, Pounds
Australians Dollars,
- - - -
Just another albino black sheep |
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| Straydog |
| Posted: Fri Jan 06, 2006 10:47 pm |
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Guest
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On Sat, 7 Jan 2006, Luigi Donatello Asero wrote:
[quote:19f7f7ce56]
"Straydog" <asd@panix.com> skrev i meddelandet
news:Pine.NEB.4.63.0601062109350.8325@panix1.panix.com...
Interesting news and I heard about some of it. Well, if China dumps USD on
the market, my first guess is that might depress the value of USD and
increase the value of whatever they want to replace it with which might
What are they likely to replace it with in your opinion?
[/quote:19f7f7ce56]
I don't know enough, and don't have any "clairvoyance" like the economist
pundits that all the media ask whenever this happens, to even dare
speculate on this. I know from reading a few books on econ & banking
recently that one can form lots of lines of thinking and lots of
rationalizations. I read one of the other responses about buying up rafts
of other currencies, but no matter what there will be lots of secondary
effects. Probably a good idea to NOT read the speculative stuff and better
to pay attention to exchange rates, stocks etc., interest rate changes,
orders for goods, central bank bond floats, and other stuff that shows up
in the stats pages of for example Business Week or The Economist, etc.
[quote:19f7f7ce56]--
Luigi Donatello Asero
https://www.scaiecat-spa-gigi.com/sv/boende-i-italien.php
[/quote:19f7f7ce56] |
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| BMJ |
| Posted: Fri Jan 06, 2006 11:09 pm |
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Luigi Donatello Asero wrote:
[quote:30ae935de0]"Straydog" <asd@panix.com> skrev i meddelandet
news:Pine.NEB.4.63.0601062109350.8325@panix1.panix.com...
Interesting news and I heard about some of it. Well, if China dumps USD on
the market, my first guess is that might depress the value of USD and
increase the value of whatever they want to replace it with which might
What are they likely to replace it with in your opinion?
[/quote:30ae935de0]
The euro?
[quote:30ae935de0]
--
Luigi Donatello Asero
https://www.scaiecat-spa-gigi.com/sv/boende-i-italien.php
[/quote:30ae935de0] |
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| Guest |
| Posted: Sat Jan 07, 2006 1:49 am |
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retrogrouch@comcast.net wrote:
[quote:2896524b8b]On Fri, 6 Jan 2006 21:16:52 -0500, Straydog <asd@panix.com> wrote:
Be aware that most stock markets in the world (except, I think, Russia,
China, and US) have been going up quite a bit in the recent months. China
may be thinking about buying positions in stock markets going up, or
buying US real estate and/or corporations?
As you say - and a cheaper dollar also means more of this:
http://www.economyincrisis.org/article_15.html
[/quote:2896524b8b]
Natl Semiconductor Corp-Bus VIA Technologies Inc Taiwan $0.167
Billion
For example, National Semi bought and then sold a business that wasn't
making them enough money for them. Tossing out lists like that makes
you look smart, but it doesn't really explain much, does it? But I
guess in your little world, keeping unprofitable businesses means
America is doing better, huh? |
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| Guest |
| Posted: Sat Jan 07, 2006 12:21 pm |
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On 6 Jan 2006 22:49:03 -0800, nightoftheratpires@gmail.com wrote:
[quote:4e87af682b]
retrogrouch@comcast.net wrote:
On Fri, 6 Jan 2006 21:16:52 -0500, Straydog <asd@panix.com> wrote:
Be aware that most stock markets in the world (except, I think, Russia,
China, and US) have been going up quite a bit in the recent months. China
may be thinking about buying positions in stock markets going up, or
buying US real estate and/or corporations?
As you say - and a cheaper dollar also means more of this:
http://www.economyincrisis.org/article_15.html
Natl Semiconductor Corp-Bus VIA Technologies Inc Taiwan $0.167
Billion
For example, National Semi bought and then sold a business that wasn't
making them enough money for them. Tossing out lists like that makes
you look smart, but it doesn't really explain much, does it? But I
guess in your little world, keeping unprofitable businesses means
America is doing better, huh?
[/quote:4e87af682b]
Actually the list says quite a bit. With our runaway debt financed by
foreign countries (all net debt issued since 2001 has increased int he
foreign side of the ledger) and with the massive trade deficit we are
flooding the world in dollars. Since our manufacturing base has
eroded there's damn little we have to export to bring the dollars back
beyond agricultural products. What can these offshore dollars most
readily buy? On shore businesses.
You cherry pick one example you may know something about out off over
8000 US companies that have shifted to foreign ownership since 1995 -
totaling over 1.3 TRILLION dollars.
You can do your eyes closed cherry picking , lalala I won't hear you
dance and pretend the problem away for yourself to keep your cognitive
dissonance at bay. But it is very real.
All your showing is a partisan wish to maintain your world view free
of contrary facts and considerations.
And you presume to call me simple minded? Sheesh.
- - - -
Just another albino black sheep |
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| Straydog |
| Posted: Sat Jan 07, 2006 3:23 pm |
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Guest
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On Sat, 7 Jan 2006, retrogrouch@comcast.net wrote:
[quote:d0800302d3]On 6 Jan 2006 22:49:03 -0800, nightoftheratpires@gmail.com wrote:
retrogrouch@comcast.net wrote:
On Fri, 6 Jan 2006 21:16:52 -0500, Straydog <asd@panix.com> wrote:
Be aware that most stock markets in the world (except, I think, Russia,
China, and US) have been going up quite a bit in the recent months. China
may be thinking about buying positions in stock markets going up, or
buying US real estate and/or corporations?
As you say - and a cheaper dollar also means more of this:
http://www.economyincrisis.org/article_15.html
Natl Semiconductor Corp-Bus VIA Technologies Inc Taiwan $0.167
Billion
For example, National Semi bought and then sold a business that wasn't
making them enough money for them. Tossing out lists like that makes
you look smart, but it doesn't really explain much, does it? But I
guess in your little world, keeping unprofitable businesses means
America is doing better, huh?
Actually the list says quite a bit. With our runaway debt financed by
foreign countries (all net debt issued since 2001 has increased int he
foreign side of the ledger) and with the massive trade deficit we are
flooding the world in dollars. Since our manufacturing base has
eroded there's damn little we have to export to bring the dollars back
beyond agricultural products. What can these offshore dollars most
readily buy? On shore businesses.
You cherry pick one example you may know something about out off over
8000 US companies that have shifted to foreign ownership since 1995 -
totaling over 1.3 TRILLION dollars.
[/quote:d0800302d3]
So, once the rest of the world owns the USA, all they have to do is raise
the rent, eh? How to take over a country without a war!
[quote:d0800302d3]You can do your eyes closed cherry picking , lalala I won't hear you
dance and pretend the problem away for yourself to keep your cognitive
dissonance at bay. But it is very real.
All your showing is a partisan wish to maintain your world view free
of contrary facts and considerations.
And you presume to call me simple minded? Sheesh.
- - - -
Just another albino black sheep
[/quote:d0800302d3] |
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| Guest |
| Posted: Sat Jan 07, 2006 4:03 pm |
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On Sat, 7 Jan 2006 15:23:14 -0500, Straydog <asd@panix.com> wrote:
[quote:35d84d8f48]You cherry pick one example you may know something about out off over
8000 US companies that have shifted to foreign ownership since 1995 -
totaling over 1.3 TRILLION dollars.
So, once the rest of the world owns the USA, all they have to do is raise
the rent, eh? How to take over a country without a war!
[/quote:35d84d8f48]
The profits these companies now generate move to their offshore
parents, further exacerbating the pillaging.
- - - -
Just another albino black sheep |
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| Just Cocky |
| Posted: Sat Jan 07, 2006 4:37 pm |
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Guest
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On Sat, 7 Jan 2006 15:23:14 -0500, Straydog <asd@panix.com> wrote:
[quote:2a787b5fce]
So, once the rest of the world owns the USA, all they have to do is raise
the rent, eh? How to take over a country without a war!
[/quote:2a787b5fce]
Your post has just been nominated for the silliest post of the day.
Thanks for playing. |
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| kim1 |
| Posted: Sat Jan 07, 2006 8:33 pm |
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Guest
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On 6 Jan 2006 22:49:03 -0800, nightoftheratpires@gmail.com wrote:
[quote:a144552abb]
retrogrouch@comcast.net wrote:
On Fri, 6 Jan 2006 21:16:52 -0500, Straydog <asd@panix.com> wrote:
Be aware that most stock markets in the world (except, I think, Russia,
China, and US) have been going up quite a bit in the recent months. China
may be thinking about buying positions in stock markets going up, or
buying US real estate and/or corporations?
As you say - and a cheaper dollar also means more of this:
http://www.economyincrisis.org/article_15.html
Natl Semiconductor Corp-Bus VIA Technologies Inc Taiwan $0.167
Billion
For example, National Semi bought and then sold a business that wasn't
making them enough money for them. Tossing out lists like that makes
you look smart, but it doesn't really explain much, does it? But I
guess in your little world, keeping unprofitable businesses means
America is doing better, huh?
[/quote:a144552abb]
They got much more than you think numbnuts. The cross-licensing that
Cyrix had with Intel when it was sold to VIA means that Intel lost a
leg. That's why VIA (Taiwan) can churn out out all kinds of chipsets
and processors without fear of legal reprisals from Intel.
Don't forget to add to the list : IBM-PC ---> Lenovo (Chinese) |
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| Guest |
| Posted: Mon Jan 09, 2006 12:30 am |
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Of course "it" is coming. The US can't continue to run trade and
budget deficits forever. So "it" is coming.
1) The budget deficits will be corrected through inflation, which is
happening already and which is why the dollar has been falling against
the euro and against gold, and why interest rates have been rising.
This is probably not good, but is not necessarilly bad.
2) The trade deficit will either be corrected when all the dollars
we've sent abroad finally return (which will mean an increase in our
exports), or if the dollars never return then we got real resources in
return for little pieces of paper (an absolute smash deal for
us)...either way it isn't necessarily bad.
So, yeah, a shift is coming. You can't expect the U.S. to dominate the
world forever. But it isn't necessarily bad. The U.S. retains great
natural and human resources and we will be fine.
Craig |
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| Guest |
| Posted: Mon Jan 09, 2006 9:48 am |
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Kamal R. Prasad wrote:
[quote:d7218f3254]rmorea@satx.rr.com wrote:
[/quote:d7218f3254]
snip
[quote:d7218f3254]
The U.S. retains great
natural and human resources and we will be fine.
Human resources are aplenty in densely populated 3rd world countries
and one of the reasons why outsourcing has gained traction is because
there is no special calibre that comes with being a citizen of a first
world country.
[/quote:d7218f3254]
Except the better conditions under which to be a citizen.
However, those are significant, which you will realize if
you read the suggestions below with an open mind. The
probably of that appears small, unfortunately.
[quote:d7218f3254]You do need to ask yourself why people in first world
countries **deserve** a better std of living without possessing any
special faculties.
regards
-kamal
[/quote:d7218f3254]
What we need to ask ourselves is why *you* keep thinking
that *we* think we deserve a better standard of living? Up
to this point in time, we've earned it (aside from the natural
resources advantage which we stole from the natives and
the advantages we got from other historical accidents,
both of which have been considerable). Whether or not
we'll continue to earn it is an open question. Why don't you
do a little less uninformed writing and a little more reading?
I suggest _The Birth of Plenty_ which addresses how the
West has earned its wealth, and I second Art's suggestion
of _Guns, Germs, and Steel_ which addresses some of the
historical factors, accidents if you will, which have favored
some groups versus others. Once you've done a little study
of history, maybe you'll realize that your point of view is
extremely parochial, to the point of making most Americans
appear open-minded which is quite a feat. Most Americans
largely don't think they *deserve* a given standard of living
as much as they merely have come to accept the standard
of living that history has provided. In this sense they are no
different than anyone else, such as you who has a chip on
your shoulder about historical accidents that no one alive
today had anything to do with. And if you are correct about
the imminent decline of the U.S., then why not just shut up
and enjoy it instead of continuing to complain about the
attitudes of Americans, whether or not those attitudes are
justified?
Cheers,
Russell |
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