China warns about the collapse of USD

Saudi Arabia is willing to consider funding itself in Chinese yuan, a senior Riyadh official said last week as the global oil markets are witnessing a rise of China and its currency.
The remarks made by Saudi's Vice Minister of Economy and Planning Mohammed al-Tuwaijri raised the possibility of the renminbi entering the oil kingdom's market.
[link to www.chinadaily.com.cn]

Thread: Here you Go : Gold-backed yuan may challenge flagging dollar

Thread: Powerful China RMB will replace fraudulent usa USD

China is the "Sick Man of Asia" and has lost face with the whole world. After the fake Chinese Gold scandal the Yuan isn't worth anything.


[link to economictimes.indiatimes.com (secure)]

Nope

Wont happen

USA warns about the collapse of CCP. Tick tock you shit will stop.

It doesn't matter. Thread: What's really going on?

If the USD does collapse, China will either have to devalue its Yuan or write off exports to America (one of its largest customers) entirely.


Quite a predicament.



They have helped kill their own golden goose, it appears.

fuck china..nuff said

They could only back about .3% of their money supply with gold.

:fuckchina2:

Okay, but why didn't they say anything in 2008?

It depends on how much is the exchange of fiat for gold. For instance if the US government revalued gold to $50,000 per ounce it would cover enough of our outstanding debts.

Ok, but at current prices, I've done the math.

There is no gold-backed Yuan on the horizon.

Only on internet conspiracy sites.

The amount of total debt is really secondary to the nature of fiat currency itself. Banks and governments won't give up the ability to naked short the economy with credit made out of thin air easily.

They won't go down without a really nasty fight. But the alternative is to keep going down this unsustainable path until the entire system freezes up.

Meanwhile, US Stores that Carry Chinese Junk are filled

with empty shelves, meaning it is really china that is in

collapse. America is rerouting its supply chain to trustworthy nations.

If China wants to survive they need to get rid of the CCP.

housing sales are booming so large in the USA there is a nationwide shortage

Last Edited by Slowly awakening on 08/17/2020 01:25 PM

The USD if it is going to be replaced as the international reserve currency will probably be replaced with a basket of currencies (still fiat) among which will be the Yuan.

I think the Chinese have been promised a seat at the table for their help with ushering in the NWO by the PTB.

Really strange you keep spamming your old op in every thread 4 months later. But even stranger is how you can have 49 pages of karma without one red! And how a person could have a couple dozen reported abuses every single day. Must not work, sleep let alone have a life of any kind.

WAS the "sick man of Asia", for a century up to the revolution in 1948. Certainly is not so anymore! Now the powerhouse of Asia, destined for regional and world supremacy this century.

If gold were revalued to $50K, the Chinese would be stupendously wealthy, since they have at least 20,000 tons of gold, possibly much more. India, too. U.S.? Hard to say. Depends on whether Fr Knox actually HAS the gold it is supposed to have (probably not, but who knows?)

Because they knew USD will not collapse then.

Guess what? China does not need the U.S. to anything like the degree it did 20 years ago. Probably does not need the U.S. at all anymore. Why? Internal markets have developed, plus trade with other trading partners has developed, to the point where U.S. is no big deal anymore. I know that American chauvinists HATE to face that, but it is true.

As for getting rid of the CCP: WHY? CCP has done a great job for decades.

Organized crime has moved from fiat to crypto. It is now time to put the final nail in the USD coffin. It will usher in cashless society for the world.

True enough I think the Chinese want the SDR to become the new reserve currency and they want the breakdown like:

Dollar 25% from 67%
Euro 25%
Yuan 25%
Yen 25%
Gold 25%

So there would be some partial backing, that breakdown came from James Rickards btw.

The big thing is the dollar, going from 67% or 2/3s to 25% or 1/4. That means the dollar will be devalued almost 2/3s it's current purchasing power (in terms of global trade). So a barrel of oil will cost us $121 per barrel in the current purchasing power of the dollar.

Terry Florence: The greatest transfer of wealth in human history...

Um yeah it's happening.

There is ZERO chance of this ever happening as long as China has a closed capital account. Nobody other than the Chicoms has a clue what assets are in China's capital account. This is total nutter fantasy until China opens up their books for the world to see.

Ask yourself why China refuses to open up their books after all this time.

The Chinese economy can collapse any minute.

They are talking shit.

Ok, well that is more realistic than a fully convertible Yuan becoming the sole reserve currency.

Sounds like a plausible scenario.

Yeah exactly.

They are fucked and they're not fooling anyone

Yep, you understand what's happening. Except the SDR can't be made up of 125% ;) 20% across the board would be the correct figure for the digital SDR for cross-border trade. The SDR isn't going to be domestic currency, just the unit of international trade.