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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: gregor_us who wrote (42295)	4/21/2005 1:05:28 AM
From: energyplay	Read Replies (1) of 206159

Re: Daisy Chain & China selling USD - the biggest real, liquid asset of China's combined banking/government system is the pile of Treasury Bills - If they dump that, what backs up the Yuan ? Also, what would China sell it for ? JPY Yen - China would love to help Japan, of course... EUR Euros - They would soar in price as China moved in. Since the Euro debt markets are not yet as deep as the US, this could cause the Euro to soar, killing European exports, and making China's exports to Europe cheap. But Europe is unlikely to allow the social distruption from this, they will keep China's products out... So at the end of moving to Euros, China will have about 60% of the wealth they had in USD, and speculators will have made the rest... AND unemployment in China will be MUCH higher. You have to be genius like Gordon Brown to like this option. Gold is worse - except that would make Pierre LaSonnde of Newmount richer than Bill Gates, which would be interesting.

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