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Post by dg on Dec 5, 2008 11:04:36 GMT -5
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Post by bankedout on Dec 5, 2008 17:38:05 GMT -5
There really was no way out of this mess without devaluing the currency massively. So it is no surprise if that is the route it goes.
China must be willing to accept the new currency, otherwise they will unload their US paper on the market and cause a financial meltdown the magnitude of which, most people could never imagine.
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Post by dg on Dec 6, 2008 11:22:09 GMT -5
I agree. This is definitely one urban legend that has the potential of going from false to true as our economic situation worsens. Remember the phrase people used just before the stock market bubble burst (this time it's different)? I'm starting to suspect that this time it really is different. Hope I'm wrong.
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Post by sd on Dec 6, 2008 18:12:52 GMT -5
I should have read the links through- pressed for time-
However, this could almost be plausable as we evolve towards a world economy-SD
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