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LA, California, USA
Experience: Intermediate
Platform: NinjaTrader
Trading: CL,ES mainly
Posts: 520 since Sep 2011
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China is actively taking steps to phase out the US dollar which will decrease volatility in oil and commodity prices and deride the ‘exorbitant privilege' the USA commands as the issuer of the reserve currency at the centre of a post-war international financial architecture which is now failing writes Alan Wheatley, Global Economics Correspondent for Reuters.
China To Challenge US Dollar Reserve Currency Status
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"Invade! Invade now! NOW, NOW, NOW!!! OHmyGAWD we have to INVADE! China is full of Al Qaeda! China hates us for our freedoms! China has weapons of mass destruction (really)! China wants to kill your babies while they sleep! The Chinese dress funny! The Chinese eat weird food! The Chinese think farting in elevators is funny! The Chinese tear the tags off of seat cushions! We HAVE to invade!!!" -- Official White Horse Souse
(ahem)
Economics aside, China understands that the highest agenda behind the US rush into WW3 is to prop up the dollar as the world reserve currency. So if China (and then Russia) drop the dollar and offer a more stable and attractive alternative, the US dollar will collapse, and there really isn't much point for the US Government to continue to try to invade Syria and Iran. Even the US Government isn;t stupid enough to go head-to-head with Russia and China (although Israel would probably love to see that happen).
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