The US dollar will be easy to collapse

[lem34]

Okay, let's see how you evaluate the coming 12 months for the dollar. I will be happy to see how your opinion evolves too.

actually cheng just b4 i go to bed the short term (12months) analysis is actually quite good for us dollar cos of the weakness of the euro persists which it should etc . But i just cant help thinking about what I think is the unsustainable debt. I think there is a lack of political will. american leaders are forced to look short term cos of elections and are unable to make the drastic changes needed. and I think aipac and bankers have so much power at the moment that american people who generally contrary to what you may think i like are being sold short by their govt.

 

[Donatello]

These trends are cyclic; USA will fix these issues well in time, I am sure.

Adam Smith and John Maynard Keynes believed recessions to be cyclic..........Americans have seen more than their share of recessions in the 20th and 21st century, yet they have been clueless and helpless in fixing them.

That is, perhaps, that leading to every recession, some very few make some shyt loads of money........

Anyway, this whole idea of just having one currency as the world's reserve currency is flawed. In today's global world, which is no longer dominated by USA only, who the eff gives Americans the only right to print and flood the market with paper, which in reality is not worth what it says on the paper bills...

hmmm......

 

[VCheng]

actually cheng just b4 i go to bed the short term (12months) analysis is actually quite good for us dollar cos of the weakness of the euro persists which it should etc . But i just cant help thinking about what I think is the unsustainable debt. I think there is a lack of political will. american leaders are forced to look short term cos of elections and are unable to make the drastic changes needed. and I think aipac and bankers have so much power at the moment that american people who generally contrary to what you may think i like are being sold short by their govt.

All valid concerns, yes. But, there is no need to be alarmed, because that is exactly how USA has worked so well for over 200 years. Seriously, look at past history of how bad the US government is, and it is a wonder this country became the superpower that it is.

Those reasons are still alive and well today, and therein lies the foundation of my confidence that USA will prevail over these issues too.

 

[lem34]

All valid concerns, yes. But, there is no need to be alarmed, because that is exactly how USA has worked so well for over 200 years. Seriously, look at past history of how bad the US government is, and it is a wonder this country became the superpower that it is.

Those reasons are still alive and well today, and therein lies the foundation of my confidence that USA will prevail over these issues too.

I will end on we have never had a systemic failure before. ignored by the western press on the whole system has failed. capitalism has failed. lets catch up on that tmro lol

 

[VCheng]

I will end on we have never had a systemic failure before. ignored by the western press on the whole system has failed. capitalism has failed. lets catch up on that tmro lol

Wrong again.

Cyclic failures are part of the process, and that will continue of course. Capitalism has not failed yet. Why do you think nearly one-third of new Chinese millionaires want to emigrate to the West, if only they could?

 

[lem34]

Wrong again.

Cyclic failures are part of the process, and that will continue of course. Capitalism has not failed yet. Why do you think nearly one-third of new Chinese millionaires want to emigrate to the West, if only they could?

No mate you are wrong:


http://www.unctad.org/en/docs/gds20091overview_en.pdf doubt you will read all this but there you go.


This downturn is a systemic failure. The failure is due mainly down to de-regulation and failure to enforce rules. Capitalism is based on supply and demand, as well as risk and reward. If one takes the risk of cheating and gets away with it, he gets a reward, this leads to more cheating (heard about Mr Ponzi). By not properly regulating the system, cheaters got rewards. Multiply this by several million, and you get our current issues. If regulations had been implemented, this would never have happened. Instead, we might have had another mild recession and your cyclic crax would have resulted.

oh and btw where chinese rich want to travel is totally irelevant. very rich people have never been on the whole patriotic and wanted to travel and have homes around the globe,

 

[VCheng]

No mate you are wrong:


http://www.unctad.org/en/docs/gds20091overview_en.pdf doubt you will read all this but there you go.


This downturn is a systemic failure. The failure is due mainly down to de-regulation and failure to enforce rules. Capitalism is based on supply and demand, as well as risk and reward. If one takes the risk of cheating and gets away with it, he gets a reward, this leads to more cheating (heard about Mr Ponzi). By not properly regulating the system, cheaters got rewards. Multiply this by several million, and you get our current issues. If regulations had been implemented, this would never have happened. Instead, we might have had another mild recession and your cyclic crax would have resulted.

oh and btw where chinese rich want to travel is totally irelevant. very rich people have never been on the whole patriotic and wanted to travel and have homes around the globe,

Since when did a United Nation's Agency become a source of authoritative opinions?

The balance between regulation and laissez-faire always needs fine-tuning, but my premise still stands.

And the reason I mentioned the new Chinese millionaires is because they might rightly suspect that the Chinese system is more at risk of instability than capitalism, not because of the mobility afforded by wealth.

 

[lem34]

Since when did a United Nation's Agency become a source of authoritative opinions?

The balance between regulation and laissez-faire always needs fine-tuning, but my premise still stands.

And the reason I mentioned the new Chinese millionaires is because they might rightly suspect that the Chinese system is more at risk of instability than capitalism, not because of the mobility afforded by wealth.

once again this is your dishonesty coming through and this is why people dont like talking to you. that source is better than any you have provided in fact come to think of it other than I think this or i think that you havnt provided any source in rebuttel. btw the source that you find funny and have not read was done by

Report by the UNCTAD Secretariat Task Force on Systemic Issues and
Economic Cooperation: Executive summary

but then mr bongiman how can a group of economists specially selected compare with the frakkin crap that comes off your keyboard

 

[fallstuff]

As long as the Chinese and the Saudis are trading in dollars and buying treasuries the $ will not tank. It will lose more value, but not tank.

 

[VCheng]

once again this is your dishonesty coming through and this is why people dont like talking to you. that source is better than any you have provided in fact come to think of it other than I think this or i think that you havnt provided any source in rebuttel. btw the source that you find funny and have not read was done by

Report by the UNCTAD Secretariat Task Force on Systemic Issues and
Economic Cooperation: Executive summary

but then mr bongiman how can a group of economists specially selected compare with the frakkin crap that comes off your keyboard

Yes, "specially selected" economists indeed. Think about that for a moment if not beyond you totally.

As long as the Chinese and the Saudis are trading in dollars and buying treasuries the $ will not tank. It will lose more value, but not tank.

Exactly. The float will be managed closely and will not change the dollar's dominance.

 

[below_freezing]

Wrong again.

Cyclic failures are part of the process, and that will continue of course. Capitalism has not failed yet. Why do you think nearly one-third of new Chinese millionaires want to emigrate to the West, if only they could?

there are over 1 million Chinese millionaires yet only 700 applied for investment immigration EB-1 to the US (all other countries were lower; 300 to Canada and 160 to Australia).

 

[VCheng]

there are over 1 million Chinese millionaires yet only 700 applied for investment immigration EB-1 to the US (all other countries were lower; 300 to Canada and 160 to Australia).

Here you go:

from: Most of Chinese millionaires want to emigrate | The China Times

Excerpt:

More than half of the richest Chinese are planning to leave the country to settle in preference to the United States and Canada. Said a survey conducted by the authors of Hurun report that presents annual list of richest people in the second world economy.

About 46% of Chinese whose assets exceed 10 million yuan are considering a departure abroad, while 14% have already initiated steps towards this direction, according to the survey conducted jointly by the Bank of China and Hurun Report, a company that publishes magazines on luxury market and operates a research institute.

 

[Developereo]

First of all, the article is about the euro; the dollar is only mentioned as an aside.

Secondly, the euro was created, not to control Europe, but to counter the USD. It is the financial equivalent of the political entity called the EU, both of which were a (failed) Franco-German attempt to counter US dominance. That is why Britain has been reluctant on both counts.

Finally, the articles's premise is flawed. By their logic, all confederations are bad since they cede sovereignty; all fifty states in the US should go their separate ways to exercise more "sovereignty". Clearly, there are significant benefits to a unified currency for a confederation.

 

[Chinese-Dragon]

Here you go:

from: Most of Chinese millionaires want to emigrate | The China Times

Excerpt:

It says:

"About 46% of Chinese whose assets exceed 10 million yuan are considering a departure abroad."

Everyone "considers" their options. I myself have considered moving overseas before, and recently I was considering moving to one of the bigger mainland cities like Shanghai.

But in the end I love Hong Kong too much.

So just because someone is "considering" moving doesn't mean that they are likely to actually go. Most people have thought above moving to another location at least a few times in their lives.

 

[below_freezing]

Here you go:

from: Most of Chinese millionaires want to emigrate | The China Times

Excerpt:

That's fake news. A successful man like you should know to do his own research.

China

China has more than a million millionaires as economic growth, savings and a strengthening currency helped swell their ranks by 262,000 last year, according to a Boston Consulting Group survey.

Millionaire households jumped 31 percent in 2010 from the previous year to 1.11 million, the BCG Global Wealth Survey released yesterday showed.

Immigration Canada: Surge in Rich Chinese Who ‘Invest’ in U.S. Citizenship

In 2011, 2,969 Chinese citizens applied for the program and 934 were approved, according to the Immigration Service. (Approval doesn’t mean they get citizenship, it just means they can start the program). Their numbers represented more than three quarters of the total number of applicants and approvals.
It’s also a huge increase from previous years. In 2007, only 270 Chinese citizens applied and only 161 were approved, accounting for only about a third of the totals.

---------- Post added at 09:49 AM ---------- Previous post was at 09:47 AM ----------

That is pure Garbage, Vcheng.

Dollar has lost atleast 25% to japanese Yen.

Dollar typically traded at 110 Yen few years ago.

Last time I checked it was down to 78 Yen.

The comparison with Chinese Yuan is inappropriate because Chinese find it advantageous to keep the value of Yuan low because of Export orientation of their Economy.

Comparison with Euros and Pound Sterling is also not useful because their Economies are in a bigger Shithouse than ours.

compare to RMB is even worse. don't believe the media bullsh!t; the RMB isn't artificially low, the USD is artificially high. The RMB rose 40% compared to the USD since 2005, from 8.5 to 6.33.

There have been no losers for any RMB investors but big losses for USD holders.