China no longer buying US$

http://www.infowars.com/china-announces-that-it-is-going-to-stop-stockpiling-u-s-dollars/

So the dollar will fall. Will it drag the Euro, Pound and other currencies with it?
Will this be the beginning of the rise of the dragon?

America's time as a (financial) world power is up, but I wonder if China will do any better.

'The false prosperity that most Americans are enjoying today will soon start disappearing, and most of them will have no idea why it is happening.'

 

I don't care about anything, as long as my Swiss Francs are fine.

 

Depends how you look at it. Against the US$ they are probably fine. Against the Chinese Yuan they might drop.

 

To be fair that is Info Wars though lol

 

Ok fine, Bloomberg then.

http://www.bloomberg.com/news/2013-...n-china-s-favor-to-boost-record-reserves.html

 

Well to be completely honest, I don't think in that terms.
The only thing I think about is - how is this going to affect me, is it good or bad for me?

 

Probably bad. I am sure many of the products you use are manufactured in China, where the RMB has been kept artificially low in order to be able to have cheap labor.
The dollar will drop like a rock, although this is expected to happen over years, and taking other currencies with it. Your buying power will decrease.

 

hehe cool, I guess it was the kind of "The end is nigh!" stuff on Info Wars that I was mainly referring to, but yeah the core story probably holds together better!

 

All Infowars does is takes the mainstream media's propaganda and exaggerates it. I have been hearing for years about China and the dollar, and nothing has happened yet. It's just more scaremongering. Most of the money in circulation was printed out of nothing by internationalist bankers who operate in every country and control the governments of those countries. China is merely a convenient scapegoat.

 

I never heard of that site before, I just posted a random link about the topic. Seems like I should have posted one of the more 'serious' ones instead for a topic that might have a huge impact like this.

 

Nothing has happened? The People's Bank of China has given an official statement. That is not exactly nothing.

Quoting for relevance again:
'The false prosperity that most Americans are enjoying today will soon start disappearing, and most of them will have no idea why it is happening.'

 

They have been saying that for years. It's going to happen eventually, nobody is denying that.

 

So China has stopped buying dollars because they think they have enough.If the dollar falls,who will step in to set up a new global reserve currency? I'm not sure China really wants the responsibility of that.Also Bitcoin I see as an investment tool of the rich and computer literate,I don't really see it helping the average person on the street.I certainly think we're in for a paradigm shift though,with Brics countries coming to the fore and eventually taking the lead away from US hegemony.The big thing that the US has though is its military,which they can use as tacit threats to try and remain in control.Also China needs the US and European market for its exports,so I see things ticking over pretty much as per normal for some time,although there will be continued austerity and the average person in the street will feel the pinch of lower wages as set against inflation,and a lack of purposeful fulfilling job options that produce real productivity for themselves and their country.