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wavecrazed
Penny Sorter Member
USA
69 Posts |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 04/17/2009 : 11:25:17
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| I wonder how soon it will be before we can purchase fake Cu Pandas on Feebay? |
There's profit if you melt things!!
8{> |
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n/a
deleted
84 Posts |
Posted - 05/13/2009 : 19:35:06
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| great article!! |
I currently have no signature. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/13/2009 : 19:55:23
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| Copper wont become a currency standard, it's too plentiful. And China is just buying metals while its cheap, instead of buying U.S debt. |
Trolling is an art. |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/13/2009 : 20:57:00
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It's possible... If china pegs its currency to a "basket of commodities", everyone would rush to the yuan. It would easily overtake the dollar as the reserve currency.
By using a basket including copper, tin, aluminum, plat, pall, silver, gold, oil, agric. futures, etc etc. instead of solely silver/gold, china can spread out it's exposure to rising/falling commodity prices and may be more insulated from a "run on the currency" as the United States was under the gold/silver standard. |
Edited by - buyingsilvers on 05/13/2009 20:57:51 |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
 Posted - 05/13/2009 : 23:22:19
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quote:
Originally posted by buyingsilvers
It's possible... If china pegs its currency to a "basket of commodities", everyone would rush to the yuan. It would easily overtake the dollar as the reserve currency.
By using a basket including copper, tin, aluminum, plat, pall, silver, gold, oil, agric. futures, etc etc. instead of solely silver/gold, china can spread out it's exposure to rising/falling commodity prices and may be more insulated from a "run on the currency" as the United States was under the gold/silver standard.
Don't expect it to become the world's choice as reserve currency. The Chinese economy is not well balanced and developed. More importantly, the world's choice for a reserve currency has a lot to do with political stability under a democratic regime. China's economy is still new as a capitalistic industrialized nation. Consider the per capita output. A basket to base their own currency will provide a much needed base for their own identity to de-link the USD piggyback. |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/13/2009 : 23:27:28
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Unfortunately the world doesn't seem to have many choices. The US is busy f-ing up the USD.
Perhaps the US will stay strong in the Americas, Europe, Middle East, while China will dominate in Asia/Russia? |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 05/14/2009 : 21:50:19
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It is my understanding that a lot of US Error coins, ie, US cents are being manufactured (counterfeited)by the Chinese.
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 05/15/2009 : 14:19:23
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| Can any lone metal-backed currency survive against fiat? Gresham's Law bets against it. |
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China buying copper
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