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Latibulum

The Yen is just paper too, next will come demands to be paid in goods, or raw materials.

Hamburger

What if we close off trade by sea with China? And China closes off Taiwan

May not be that easy for China to bash Taiwan since so many of the mega-factories in so. China employing millions of Chinese are Taiwanese owned. Lots of mutual back scratching going on there, I think. Still, I take your point.

This is the only place I can find linking Bushco war policy, oil, trade, FOREX reserves, the sinking dollar. Thanks again, Elaine for all the hard work of doing this every day.

Robin

First I laughed when I read this article because Iran's move was so obviously in favor of the Chinese, then I cried because I believe this is the first serious shot back by a nation-state in the world war that the US instigated in 2003 with the invasion of Iraq.

We might not think of it now as a world war, but we will . . . soon. The death of the dollar has been ordered and it's going to take our precious American way of life down with it. I'm quite sure our ruling elites have parsed the meaning of what Iran is doing. I fear, since we are ruled by thugs, that a military brutalization of Iran and larger swathes of the Middle East are in the offing in retaliation.

Elaine Meinel Supkis

Hitler and Hirohito both thought they were going to win WWII.

John

I fear, since we are ruled by thugs, that a military brutalization of Iran and larger swathes of the Middle East are in the offing in retaliation.

Yeah, I can see that.

christian

if japan buys else where how is china happy to move in and pay in yuan if there currency is already rising and this i thought is what u.s wants?

christian

or maybe i am mistaken and that is what a few deranged congress men were asking for with talk of china tariff's a week ago

and that the danger of china allowing the Yuan to rise would be felt by the united states in the form of higher prices for consumer goods (inflatiion) downward pressure on the dollar and weakening consumption and upward pressure on intrest rates and unemployment but i guess this would be better than the alternative of allowing the yen to rise and choking the carry trade. actually more like the difference between taking a punch to the face or getting beaten to death.

christian

sorry for all the posts (last post promise) but why would you think china wouldn't just buy more oil in Euro's not yuan like they have been, which would still put pressue down on dollar but not as bad collateral effects that i mentioned in above post.

is this fear mongering, or speculation, and i missing something

Elaine Meinel Supkis

You might be correct, Christian. We can't really tell so easily because there are so many backroom deals going on and a lot of backstabbing, too.


It is pretty messy now.

Rob George

China now makes a good deal of what leaders in the underdeveloped world want including military stuff. In which case, they will quite happily begin to trade in currencies that china are comfortable with as they can trade back into their export market, just like they have done with us for years. Its a simple swap. China can now begin to decouple so long as it has secured the natural resources it needs and doesnt need to use dollars as the nations it is trading with can buy Chinese stuff, which is just as good.

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