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Top Central Banker In China Says Beijing Is Ready For The 'Currency War' To Begin


boomer113189
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3 - 2 - 2013

 

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A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.

Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fueled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.

Yi said a currency war could be avoided if major countries observed the G20 consensus that monetary policy should primarily serve as a tool for domestic economy, the Xinhua report said.

But China "is fully prepared", he added.

"In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries."

South Korea's incoming president Park Geun-Hye has also signaled her willingness to step in to stabilize the won and protect exporters battling a stronger Korean currency and a weaker yen.

 

http://goo.gl/DnSln

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Soooooo, china has stolen & hoarded enough and embedded themselves in

enough other countries' economies and now wanna call the shots...

 

suck it, china.....

 

all in God's good time, you commie heathens.

Unfortunatetly, Sarge the Chinese don't want to be left holding the bag when the U.S. dollar goes down the ****-ter.  They therefore have used their vast supply of Dollars to buy every freaking gold/silver/platinum Mine they can get their hands on and all the gold and silver as well.  It's our Governments own Fault. Bernake has as much said we're never going to pay you back.... so the Chinese have answered by spending all those soon to be worthless dollars on commodities and hard assets.  Can you blame them?  China has been planning on backing it's currency with as much as 70% gold, essentially relegating the fiat U.S. Dollar to the perverbial scrap heap. Which would you rather hold? Commies yes, but stupid...... I don't think so! If nothing else it will put this Bankster Cartel, the IMF, the FED etc...OUT OF BUSINESS. I almost Can't wait. :twocents:

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That's not all that China wants. This is from Dec 2012 and most Canadians don't even see it going on. They have their heads buried in the sand. Political Points: Harper’s nightmare is China buying up all of Canada’s oil

Chris Hannay - Online Political Editor

 

Prime Minister Stephen Harper had been worried for months, sources tell The Globe’s John Ibbitson, that a rising China would snap up a major Canadian oil producer. State-owned CNOOC’s announcement that it wanted Canada’s Nexen was a bad omen for Mr. Harper. That’s why he felt he had to send a message. In Ottawa, the House of Commons will, among other things, debate the NDP’s Opposition Day motion about the Investment Canada Act – so expect a lot about the CNOOC/Nexen ruling, which the NDP says was too opaque.

 

http://www.theglobeandmail.com/news/politics/ottawa-notebook/political-points-harpers-nightmare-is-china-buying-up-all-of-canadas-oil/article6144594/

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GOLDIE --- Is that pipeline all the squawking is about which would run from NW Canada into

the US going to be owned and operated by chinese commies? :o

 

They took over the very strategic Panama Canal.... why not that , too, eh? <_<

 

Is that the way TPTB are getting them intergrated completely into North America even more? <_<

 

We do not like the commie chinese. :angry:

 

Whatta ya think, GOLDIE....? :huh:  :(

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china is mad because they are hording a couple trillion us dollars .. and the united staes is devaluing its worth ,, they thought they could just take our currency till we have no more .. well they found out that we will just print more  and devalue what they hold ..and the longer they hold it the less valuable it becomes ...the treasury dept .  printing 85 billion dollars a month comes out to just over a trillion a year  .. the fed says they wont shut it off till our economy picks up ... so it could be indefinate ..

i say as soon as our exports  go up .. that will be enough  devaluation ..and when exports go up  our companys start to hire again ..  well china can avoid all this  by spending those dollars they hoard  on us goods and services ... that would mean balanced trade .... the longer  they hoard the dollar  the less return they get from their exports ..

 

china will lose big time .. they can cry and complain all they want ..but they are the ones who accepted the  dollar for their goods .. and that dollar is only redeemable for goods and services ..

 

i suppose china could buy the chinese yaun with those dollars ..but that means they have to pay themselves with those dollars since the yaun isnt a reserve currency .. they cant buy back any of their curency from other countrys reserves ..china has a trade imbalance with every country by keeping the costs below everyone elses ..so no one has any chinese yaun,, and if they do its not for sale .. those who have it know the only way out for china is to raise its value of its currency so they hold it for profit ..its the chinese yaun thats going to rv .it has to .. .and they need to  start spending everyone elses currency they hold in their reserves ..and buy things that will be good for their economy and quit trying to rule the world ..its already set up  so we could have balanced trade .. but china wants to gain control of something that isnt controllable ..

 

give up china .. its over .. spend your reserves ...while they are hot ... china is in check .. one more move its check mate .. no matter what they do ,, theres only one way out .... spend the reserves.. and spend them wisely

Edited by dontlop
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china thought they were smart when they loaned us our own money back with interest  instead of balancing trade ..

 

well we sold them treasurys . and now the interest rates are 1% .. lol.. and the dollar is devaluing faster than the 1% .. so china is losing again .. theres only one answer thats balanced free trade .. spend the reserves ,, and dont hoard dollars .. if they do  .. we will devalue them ..



china can buy all the gold they want .. they can buy gold mines .. diamond mines .. but they have to spend those dollars .. we will sell china gold coins for a profit over and above the gold price per ounce ..i guess anyone can purchase the limited editions of  gold coins at the us mint . but they must convert their currency to us dollars  and pay the spread . lol and then a profit on the coins ..i dont think we sell ingots ..

Edited by dontlop
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GOLDIE --- they were on the 6 O'Clock again tonight....

 

Repubs: "Do the Keystone Pipeline deal from Alberta down!  Jobs, excellent, oil independence...." ^_^

Dems:  "No! Bad for nature, filthy sand polluting Canada! We need clean energy alternatives...!" :wacko:

 

and we thought about ALL THE BILLIONS THAT  TROLL TOOL OBUMMER WASTED 

on their supposed clean energy alternatives.... and puked.

 

They never quit with the lying B.S., do they...... <_<  

 

Whatta ya bet obummer and his PTB cronies are cookin' up a deal to hand Canada's

Alberta shale-oil deals over to the chi-coms? :angry:  :mad: 

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***///

 

GOLDIE --- Is that pipeline all the squawking is about which would run from NW Canada into

the US going to be owned and operated by chinese commies? :o

 

They took over the very strategic Panama Canal.... why not that , too, eh? <_<

 

Is that the way TPTB are getting them intergrated completely into North America even more? <_<

 

We do not like the commie chinese. :angry:

 

Whatta ya think, GOLDIE....? :huh:  :(

The name of the pipleline that Obummer stopped was called "Keystone" pipeline owned by TransCanada a different company.

 

This is a different company that China is trying to take over called Nexen.

 

http://business.financialpost.com/2013/03/01/cnooc-said-to-cede-operating-control-of-nexens-u-s-gulf-assets/?__lsa=e7a3-5df4

 

I'm with you on this Sarge...!!!!  I don't like them any more than you do.   They own much of the land in Western Canada and areas like Banff, Lake Louise, they own the forestry and many natual resources. Our gov't is just plain f-ing stupid to sell off our resources.

 

They have the largest army in the world. They want to take over the world and apparently they are...!!! How do you stop them?  At least Harper our PM had the gonads to stop this...sorry all you looser Canadian Liberals that don't like him. Somebody has to stop our cournty from being taken over. Canadians need to stop being so damn nice and be ready to go to war if we need to...!!!!

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We thank  you kindly, GOLDIE.... wanted it from a Canadian's point of view. :tiphat:

 

We feel terrible that you're all being taken over by the chi-coms. :angry: We're not far behind apparently.

 

We sure hope DONTLOP is right about them being on the verge of falling into the flames of financial hell... ;)

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Same in Australia...they have purchased so many of our farms...to feed THEIR people. Whilst Aussies do not get the jobs or any income..taxes...nuthin'.

One country we all need to study is ICELAND.... They have sacked and prosecuted the banksters...had a peaceful revolution......but Nothing in the news....nothing..not a peep about what great work they've done there.

http://www.dailykos.com/story/2011/08/01/1001662/-Iceland-s-On-going-Revolution#

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