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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (119556)	10/10/2009 5:14:06 PM
From: Skeeter Bug	Respond to of 132070

china has already said they want a new reserve currency. china has been refraining from buying as many treasuries and even selling treasuries. they've been buying commodities. have you hard of the "chinese put"? i've also heard that the fed agreed to buy up chinese debt so long as the proceeds went back into treasuries. how long can that last? there is a reason the fed is buying up 50% of the treasuries being issued. the writing is on the wall. it is true that it won't happen over night - but the reduction is confidence is already there. i heard the dollar is down 12% against other currencies in the last 7 months alone. that isn't an accident. if a guy like me is offended at the bullsh*t that comes out of the fed and treasury, imagine how the chinese feel. that's why their students laughed in the face of geithner when he said their investment in the dollar was safe. they don't believe him. he's a con artist and in the pockets of bankster frauds.