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View Diary: McCaskill: No jobs bill this year (199 comments)

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  •  Don't count on China's rise being swift (0+ / 0-)

    they're hurt in two ways by this:

    1) they're going to stick with the deflation genie -- they'll be the last to inflate their currency
    2) who are they going to export to with everyone else inflating first?

    Happy little moron, Lucky little man.
    I wish I was a moron, MY GOD, Perhaps I am!
    -Spike Milligan

    by polecat on Tue Aug 09, 2011 at 10:00:34 PM PDT

    [ Parent ]

    •  Actually their currency is in dire danger (0+ / 0-)

      of flying out of control and the only way the Chinese central bank can stop that from happening is, amazing, buy more more more more gold..and keep churning out products and keep Americans happy with the idea of buying most of them.

      (at the moment, anyway)

      Now if the PRC ever gets desperate they could demand the USA pony up its debts in bullion- not that the US has to under the current world financial order but there might be additional concessions if this is done

      And it's not like the USA is light on gold; between Fort Knox and the various U.S. Mints, the country holds roughly half a trillion bucks worth of gold at today's prices. Yep. 8,965 tons of the stuff. Nice.

      http://www.cnbc.com/...

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