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China, Malaysia Ending use of American $ for Trade

Discussion in 'Political Discussion' started by mikey, Jun 3, 2009.

  1. mikey

    mikey In the Starting Line-Up

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    Malaysia, China May End Trade in Dollars - WSJ.com

    Malaysia, China Consider Ending Use of Dollar for Trade

    BEIJING -- Malaysia's prime minister said China and his country are considering conducting their trade in Chinese yuan and Malaysian ringgit, joining a rising number of nations thinking of phasing out the dollar.



    "What worries us is that the [U.S.] deficit is being financed by printing more money," Mr. Najib said. "That is what is happening. The Treasury in the United States is printing more notes."


    .
     
    Last edited: Jun 3, 2009
  2. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Your subject says "ending", your links say "considering"

    :rolleyes:
     
  3. maverick4

    maverick4 Banned

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    By starting up all these currency swaps with multiple major trading partners, China is politely turning away from the dollar as world reserve currency. It's a less direct approach to expressing little confidence in our dollar, compared to selling their trillion+ holdings of our treasuries.

    The most devastating part of it is that we keep printing money out of thin air. We used to get away with it because there was global demand for the dollar to buy oil or to conduct global trade. Now, the demand is shrinking.
     
  4. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    So does this mean you have been against bailing out U.S. corporations all along?

    Are you also against staring humongous new social programs until our financial system and our currency becomes more stable?

    I've been against all bailouts and do not support beginning mega-social programs at this time.
     
  5. KontradictioN

    KontradictioN Do you even lift? PatsFans.com Supporter

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    No Jersey Selected

    And my respect for you grows even more...
     
  6. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Here's to Rodney coming back for one more year!
     
  7. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey


    ...and the silence is defeaning. :rolleyes:
     
  8. maverick4

    maverick4 Banned

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    Yes. I was livid over even the first bailout, while everyone I talked with about it at the time thought it was a good thing. The media has way too much power in manipulating/manufacturing opinion to coerce people (using fear) to do something.
     
  9. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Wow...we agree.

    I sent multiple letters to congressman urging them NOT to vote yes on the original TARP. A lot of good that did. :rolleyes:
     
  10. godef

    godef In the Starting Line-Up

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    Who changed "consider[ing] ending use" to "ending use"? :confused:
     
  11. godef

    godef In the Starting Line-Up

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    As did the Bush administration.
     
  12. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    The Bush/Obama administration is the same thing as the media/ corporate/Wall Street interests. There is literally no difference anymore...not sure there ever was a difference.:(
     
  13. Real World

    Real World Moderator Staff Member

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    Nah-ha. It's different now. This is change you can believe in. A different kind of politics.
     
  14. Real World

    Real World Moderator Staff Member

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    Mav's tune is different now. Obama is awesome, and things aren't going to be as bad now. Forget the fact that Obama is GW² when it comes to spending.
     
  15. maverick4

    maverick4 Banned

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    Where did I ever say that? You've been outed as an ignorant GOP fool over the past year here, deal with it.

    Even with all of Obama's crazy programs, he won't come close to the spending/damage Bush did. Under Bush, with Iraq, his bailout, his real estate bubble, and the gov taking over toxic real estate assets, he has probably lost/cost the US more than 10Trillion.

    I said long before the election that whoever is elected is basically screwed no matter what and is going to look bad.
     
  16. Real World

    Real World Moderator Staff Member

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    Yeah, that's why I voted for Johnny McLame in November. :rolleyes:

    MMav, have you been paying attention, or are the blinders still on? Everything you blasted Bush for, and rightfully so, Obama's trippled. Thanks for shopping! :rolleyes:
     
  17. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    The defict for this year is quadrupled over the highest during Bush's spending spree, but keep drinking that kool aid
    .
     
  18. maverick4

    maverick4 Banned

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    I didn't vote for Obama. You're not bright enough to get out of this group mentality of "anyone against the GOP disaster is a commie democrat"
     
    Last edited: Jun 4, 2009
  19. Real World

    Real World Moderator Staff Member

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    Ahahahahaha, yeah, I'm not bright enough MMav. Ahahahahahaha....
     
  20. maverick4

    maverick4 Banned

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    That is true, and when did I ever say I was for it? I'm also sure that has nothing to do with anything that happened 5 months before Obama took office.

    The GOP has no moral or philosophical ground to stand on anymore, after it destroyed its own principles for last Fall's bailout, for spying on Americans, for condoning torture, for spinning lies to pre-emptively attack another country, and for instituting socialism for the i-banks.

    We're just going around in circles at this point with the narrow-minded partisan perspectives. Most people are incapable of looking at issues anymore without a party bias.
     

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