US national net worth increased $5.3T in Q4; overall net worth now $150T

[Hamartia Antidote]

Never did it, how many people do this, did you ever?

You can. There's a well known Bank of America right in Harvard Sq that is known for doing large currency exchanges. They have all the rates on a big board on the wall.

They would certainly take my $100,000 dollars for Yuan but not sure about a limit for vice versa.

 

[beijingwalker]

You can. There's a well known Bank of America right in Harvard Sq that is known for doing large currency exchanges. They have all the rates on a big board on the wall.

They would certainly take my $100,000 dollars for Yuan but not sure about a limit for vice versa.

I never did, did you? how often do people try to do this?

 

[gambit]

I guess we better get ready for a new batch of Chinese mothers on those birth citizenship tours.

 

[beijingwalker]

I guess we better get ready for a new batch of Chinese mothers on those birth citizenship tours.

If US always believes today's China is the same as she was 10 years ago, one morning you guys will have a rude awakening.

 

[Hamartia Antidote]

I never did, did you? how often do people try to do this?

Apparently enough for them to open a bank branch that specializes in currency exchanges. While local branches also exchange currency this is the one that actually has a large supply of different currencies on hand.

I don't think they opened it to have people sit around all day doing nothing. Of course with Covid they probably have had limited hours with airlines not as busy. This was the place travelers would go to exchange money before an international trip.

There is no limit as to how much cash you can bring on a plane for a domestic/international flight..you just have to declare it...oh and try not to look like a drug addict/dealer or you may end up in some room answering a lot of questions.

So if you need a suitcase full of money this was the place to go.

 

[Han Patriot]

LOL! Numb numb go into a bank in Beijing and try and convert a suitcase full of 635,000 Chinese Yuan at the going rate into US dollars and they will laugh you out of the bank.
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Then try and convert $100,000 USD into Chinese Yuan and they will take it immediately and give you high praise.

Huh, you are not coherent bro, calm down,dont get so excited and animated when I tell the truth, lol. Calling toilet paper style printing as hard currency is beyond my belief. The only reason people is using it is because of legacy issues and the pain associated with sudden change, hence change has to be gradual which is what China is doing, quietly accumulating gold, creating a digital rmb and creating Cips. At first, the move will be gradual, slowly it will become a peer currency. Check out US debt now and tell me it's sustainable. Why do you think Biden is not increasing tariffs even when we blatantly just bought 50% of what was agreed. America stronk right? Lol come on cowboy, why don't ioi dare send troops to Ukraine? You know the answer.

 

[LeGenD]

Following links explain American economic system:

Does the National Debt Matter?| St. Louis Fed

Although the national debt has grown exponentially over the past 12 years, causing concern for many, it does have its uses—especially in the U.S. Treasury market.

www.stlouisfed.org

Servicing the National Debt

While household debt must eventually be repaid, a government can, in principle, roll over its debt indefinitely.

www.stlouisfed.org

It is not traditional and cannot be understood in traditional sense.

 

[Han Patriot]

Following links explain American economic system:

Does the National Debt Matter?| St. Louis Fed

Although the national debt has grown exponentially over the past 12 years, causing concern for many, it does have its uses—especially in the U.S. Treasury market.

www.stlouisfed.org

Servicing the National Debt

While household debt must eventually be repaid, a government can, in principle, roll over its debt indefinitely.

www.stlouisfed.org

It is not traditional and cannot be understood in traditional sense.

It's called printing money and inflation, and China is key to maintain this system since we help reduce the inflation and absorb the printed money.

 

[Hamartia Antidote]

The only reason people is using it is because of legacy issues and the pain associated with sudden change,

haha! I'm glad you realize the true state of your currency.

Remember that next time when you talk about the US printing money to increase personal wealth...well it looks like the Chinese are pros at that.

 

[Han Patriot]

haha! I'm glad you realize the true state of your currency.

Remember that next time when you talk about the US printing money to increase personal wealth...well it looks like the Chinese are pros at that.

I recognise the inherent strength of my currency producing real things rather than printing paper and pushing it around. Legacy systems can only get you so far, and if history is not a lesson, please remember how your whole industry base got destroyed printing money. When you print too much money, wages and inflation increase and you gave no choice but to import to reduce inflation. Over time, China created this industrial machine.

China printing money to increase wealth? do you even understand what you are saying? Chinese wealth increase is real with infrastructure and industrial production. That's why printing paper while having crappy ports like LA is a symptom of this disease. You sound pretty incoherent in your ideas matey.

 

[hualushui]

China doesn't even have a hard currency. You basically print endless multi-colored Monopoly money.

8% inflation. really hard.