The Yuan the new reserve currency?

[Canna Sylvan]

I've been hearing lately China has been trying to make a grab as the next international currency. That would be an insane move. Who else but stupid America will buy poisonous Chinese goods? To this day, after several years, Trader Joe's refuses to buy anything exported out of China. I say the US needs to bring it on and stop all chinese imports with an embargo. Then we'll hear how loudly China squeals.

Nearly all of our depression problems would go away if we went back to producing nearly everything for ourselves. It's really sad the only American made tv anymore is by Westinghouse. My hdtv is American, a Dwin.

 

[redivider]

only problem is that China controls a lot of the rare earth metals required for manufacturing electronics...

we embargo goods produced in china, they embargo the raw materials required....

everybody loses...

 

[NoDrama]

I've been hearing lately China has been trying to make a grab as the next international currency. That would be an insane move. Who else but stupid America will buy poisonous Chinese goods? To this day, after several years, Trader Joe's refuses to buy anything exported out of China. I say the US needs to bring it on and stop all chinese imports with an embargo. Then we'll hear how loudly China squeals.

Nearly all of our depression problems would go away if we went back to producing nearly everything for ourselves. It's really sad the only American made tv anymore is by Westinghouse. My hdtv is American, a Dwin.

Westinghouse is an American company, but they don't make their TV's here. Chi Mei Optoelectronics is probably the manufacturer of the LCD component and Philips, mitsubishi, NEC make up a bulk of the other parts.

The only way the Yuan will become reserve currency is if they back it with precious metal. Currently the Yuan is pegged to the US Dollar so for every dollar devaluation there is a equal Yuan devaluation.

Placing a embargo on all Chinese goods would be rough on the US population for the first several years, as it takes more than a few days to get factories built and operating again. You might hear Americans squealing louder than the Chinese.

 

[NLXSK1]

only problem is that China controls a lot of the rare earth metals required for manufacturing electronics...

we embargo goods produced in china, they embargo the raw materials required....

everybody loses...

They dont control the rare earth metals, that is bullshit PR.

The metals are available her in the USA, in Canada, etc. The rare earth mines here and there were closed because China could produce them much more cheaply.

This is one of the key things that turned me off to Glen Beck. He made this seem like a major crisis when it was simply economics.

 

[NoDrama]

They dont control the rare earth metals, that is bullshit PR.

The metals are available her in the USA, in Canada, etc. The rare earth mines here and there were closed because China could produce them much more cheaply.

This is one of the key things that turned me off to Glen Beck. He made this seem like a major crisis when it was simply economics.

10 years ago the USA and China produced about the same 90 million metric tons of steel. Last year the USA made about that same amount, while China made 360 Million Metric tons. China is making reserves of metals, the USA sold theirs in the 90's. Even in production of other metals that aren't rare earths or steel, China leads the USA in other key elements such as germanium, indium, antimony,tungsten, manganese, zinc, magnesium, cadmium, pig iron, graphite and fluorspar.

​

I think you might be onto something with this whole "simply economics" theory.

China is willing to take a beating in the finances in order to gain control of the markets. How is this possible? While the USA devalues its currency to bail out banks, China devalues its currency to increase production. The USA dips further into the future pockets of people not yet born in order to help those in need now and in China they let those people fend for themselves. Other countries are forced to give into Chinese demands or they will have trade sanctions barring them from the labor pool which in effect makes them uncompetitive in the global markets.

Ramblings.

 

[NLXSK1]

There is no doubt that China is currently kicking our ass in production.

However, they have the population and landmass to do it.

Our country is relatively small in population when compared with China, Russia or India.

 

[NoDrama]

There is no doubt that China is currently kicking our ass in production.

However, they have the population and landmass to do it.

Our country is relatively small in population when compared with China, Russia or India.

Well US is 3rd most populous country in the world. The EPA has plenty to do with our production.

 

[NLXSK1]

Well US is 3rd most populous country in the world. The EPA has plenty to do with our production.

Remember when there was a huge fear that Japan would buy up all of the US real estate in the 80's?

Remember how badly they got burned when the market turned?

 

[NoDrama]

Remember when there was a huge fear that Japan would buy up all of the US real estate in the 80's?

Remember how badly they got burned when the market turned?

Ya, the 90's really sucked for them, now they are at 200% debt to GDP and 5% of their country is uninhabitable.

 

[Brick Top]

Remember when there was a huge fear that Japan would buy up all of the US real estate in the 80's?

Remember how badly they got burned when the market turned?

I remember that. But then I also remember when seeing the words Made in Japan on goods of any type it meant they were the cheapest lowest grade you could possibly find.

There was that one bad 'stumble,' but pretty much other than that you have to tip your hat to them for coming from what they were when I was a kid and going as far as they did before the cream turned sour on them. And in the end, they're still way ahead of when I was a kid.

 

[NLXSK1]

I remember that. But then I also remember when seeing the words Made in Japan on goods of any type it meant they were the cheapest lowest grade you could possibly find.

There was that one bad 'stumble,' but pretty much other than that you have to tip your hat to them for coming from what they were when I was a kid and going as far as they did before the cream turned sour on them. And in the end, they're still way ahead of when I was a kid.

I am just pointing out how things change. China might seem like a major powerhouse now but it has it's own internal problems. There is no way to determine if it will continue to progress and challenge America or end up like the former country of Russia did.

 

[NoDrama]

Ior end up like the former country of Russia did.

I sometimes wonder if America won't end up like Russia.

 

[NLXSK1]

I sometimes wonder if America won't end up like Russia.

I dont see it breaking up into regions but anything is possible.

 

[NoDrama]

I remember that. But then I also remember when seeing the words Made in Japan on goods of any type it meant they were the cheapest lowest grade you could possibly find.

There was that one bad 'stumble,' but pretty much other than that you have to tip your hat to them for coming from what they were when I was a kid and going as far as they did before the cream turned sour on them. And in the end, they're still way ahead of when I was a kid.

Yeah, you would turn the item over and see it was made in japan and that explained why it didn't work and why those things originally got called "Jap Crap". Japan didn't dominate certain segments like China does though, except the small electronics scene and even now Japan has lost that edge, to China.

 

[Rob Roy]

If we didn't live in a country that forces people to use fraudulent "money" we would be better off.

I'd like to see a currency based on Cannabis. Then people will be able to say "money DOES grow on trees."

I think in the Colonies some people used hemp to pay taxes with...

 

[OGEvilgenius]

only problem is that China controls a lot of the rare earth metals required for manufacturing electronics...

we embargo goods produced in china, they embargo the raw materials required....

everybody loses...

A rare earth deposit has been discovered in the Northwest Territories that the US military and gov't has expressed immense interest in.

 

[redivider]

They dont control the rare earth metals, that is bullshit PR.

The metals are available her in the USA, in Canada, etc. The rare earth mines here and there were closed because China could produce them much more cheaply.

This is one of the key things that turned me off to Glen Beck. He made this seem like a major crisis when it was simply economics.

China effectively controls 97% of the market in terms of rare earth metals required to make goods such as flat screen tvs, touch screens (every fucking smartphone), among others...

it's not bullshit PR, it's the truth.

while they only control 30% of the world's deposits, they've managed to step up production and flood the market to where they dominate it entirely.

prove me wrong... i'm waiting...

 

[NLXSK1]

Yes, they have flooded the market and provide 97% of the metals needed.

Where the hype leaves the road is the fact that we have deposits here in the USA, there are large deposits in Canada and other friendly nations.

If they suddenly cut off the spigot tomorrow it would be painful for a while but other countries including the USA could ramp up production to meet demand at some elevated cost.

Some people make it seem as if 97% of the resources are in China and nobody could do anything if they suddenly decided not to supply them anymore.

 

[massah]

Unions would make the cost of labor to pull rare earth minerals out of the ground in the US impossible to compete...and even if we could get it out of the ground relatively cheaply, we would just ship it overseas like we do our trees to have paper made...

 

[NLXSK1]

Unions would make the cost of labor to pull rare earth minerals out of the ground in the US impossible to compete...and even if we could get it out of the ground relatively cheaply, we would just ship it overseas like we do our trees to have paper made...

It is just supply and demand. If China set up an embargo the cost of rare earth metals would skyrocket. Major changes would have to occur and it would be as close to if no an act of war so other things would be involved.

But stuff like Fracking cannot be done when the cost of oil is below something like $60.00 per barrel because it just isnt economical. When the costs rise it becomes worthwhile to use certain technologies.