Chinese Yuan - Coin Community Forum

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Author	Replies: 6 / Views: 1,115
lukkyseven Pillar of the Community United States 880 Posts	Posted 07/13/2011 10:23 am So should I convert all of my greenbacks into Yuan since the economy is about to collapse? I feel like China pretty much owns us right now. That being the case, the Yuan is still devalued which means I can get more for my dollar. And once this debt ceiling is raised, the greenie is going to fall even more and the owners of the US (aka China) should see their currency increase. Thus then being able to buy more (devalued) US Dollar for my (appreciated) Yuan? Conspiracy theorist? I'm actually just posting this because the crazy old guy at work started talking about it. Makes sense, if you've lost you're mind :) Or does it... You'd really be humored by this more if you knew the guy. So sorry if looks more like a rambling. Report this Post to the Staff

Sap Moderator Australia 16808 Posts	Posted 07/14/2011 04:06 am My main problem with using Communist Chinese money as a reserve currency is that it's from, well, a Communist country. It's only been in the past few years that "investing" in renmimbi was even theoretically possible. And there's nothing to stop them reversing that relaxation once the global economy goes down the drain. I'm thinking that "protecting foreign investors" will be at the bottom of their priority list. If you feel you must bail from the US dollar, I'd recommend buying into some other country. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis Report this Post to the Staff
schockergd Valued Member United States 397 Posts	Posted 07/14/2011 08:14 am China isn't in much of a better situation than the US is, their economy is propped up by massive construction projects that have absolutely no use. Look at chinese ghost towns. Report this Post to the Staff
glenzy1 Pillar of the Community Canada 1554 Posts	Posted 07/14/2011 08:19 am Have you heard the latest? A Chinese delegation is currently visiting Harley Davidson Headquarters in Milwaukee and is currently negotiating to buyout Harley-Davidson. Your next Harley might be made in China! Next might be the U.S. Mint? (ya think) Glenn Edited by glenzy1 07/14/2011 08:21 am Report this Post to the Staff
nod2003 Pillar of the Community United States 3294 Posts	Posted 07/14/2011 08:50 am I would not look to the Yuan as a reserve currency in case of a bad US dollar. Where do you think most of China's exports go and what do you think will happen to those exports if the US dollar is doing very poor? Report this Post to the Staff
lukkyseven Pillar of the Community United States 880 Posts	Posted 07/14/2011 10:36 am Well I'm not looking anywhere. I don't have the know how to do trades like that. Something I doubt I'll look into either Report this Post to the Staff
schockergd Valued Member United States 397 Posts	Posted 07/14/2011 1:16 pm Everyone I know is buying silver................which puts me in a great position! Report this Post to the Staff
	Replies: 6 / Views: 1,115

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