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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: axial who wrote (21078)	6/29/2009 4:11:51 PM
From: GST	6 Recommendations Read Replies (1) \| Respond to of 71456

<Stripped of hyperbolic language, your statement means the USD continues to decline gradually, not quickly. I think everyone is aware of that. So what's your point, exactly?> My point is that your post on Chinese reassurance is ridiculous -- that is what the Chinese would say even if they saw the dollar on the verge of being wiped out in value. The Chinese will say that they do not want others to panic -- but this will not in any way stop them from heading straight to the exit. By the way -- you are the one who tirelessly tries to pretend that the fate of the dollar is highly uncertain. You are the one who makes sweeping statements about how we can completely turn things around and deal with our debt issues -- leaving out the pointed facts of our inability to finance our current account deficit with anything that the rest of the world would accept as 'real money'. The Chinese don't believe that for a second. They know we are already defaulting as we speak. The fact that they need to offer reassurances at all and at this point in time -- the fact that they need to make statements to the effect that they do not want OTHERS to panic, is in itself a testimony to their complete loss of faith in the dollar. When the Chinese shout 'don't panic', it is time to run for your economic life. The house is on fire. The exit is small. The crowd is large. They are shouting 'stay calm', but the fact is they are doing that only in the hope of a momentary reprieve and a chance to be the first out the door. They know the house is on fire -- they care little for fools who talk about how the house being on fire does not serve anybody -- the house is on fire and it does not make allowance for whether or not you want it to be on fire.