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Thread: Not a Rant: I have an unsettled view of this country's future

  1. #171
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    carolina73's Avatar Senior Member
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    Quote Originally Posted by XavierOnassis View Post
    The Chinese have NOT devalued their currency.
    Of course they have. Otherwise with the growth of their economy and trade, the value of their currency would have skyrocketed vs the dollar. Good thing you didn't teach economics. They purposefully devalue their currency to undercut prices worldwide and subvert manufacturing in other countries.

    How else do you explain a Yuan vs the dollar of 7 +/- 15% since 1990. Despite a 4200% increase in their GDP.
    In that time they went from nothing to the 2nd largest economic power in the world and 1st in manufacturing.

    And you think their currency would not gain value against the dollar? Glad you didn't teach economics.
    Let's go Brandon !!!

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  3. #172
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    Quote Originally Posted by XavierOnassis View Post
    The Chinese have NOT devalued their currency.
    They just manipulate their currency.
    ΜOΛΩΝ ΛΑΒΕ


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    So the Chinese devalued their currency and as a result it gained value against the dollar. \
    Which of course made their products more desirable.
    Yeah, that's it.

    But then again, the Chinese received payment in DOLLARS for what wholesalers in the US bought from them.
    So how did this "devaluation" give them an advantage?


    The

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    Quote Originally Posted by carolina73 View Post
    Not until China stops manipulating exchange rates by devaluation. However since the West is pretending to be moving away from fossil fuels then China will be buying the most oil so it makes sense. But why not the Riyal as the Saudi's being the clear leader of OPEC and the dominate producer in the world. Other countries have oil but only the Saudi's can win a price war.
    I think, if it happens, it's because the Chinese would be the biggest single market.
    In quoting my post, you affirm and agree that you have not been goaded, provoked, emotionally manipulated or otherwise coerced into responding.



    "The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
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    Quote Originally Posted by XavierOnassis View Post
    So the Chinese devalued their currency and as a result it gained value against the dollar. \
    Which of course made their products more desirable.
    Yeah, that's it.

    But then again, the Chinese received payment in DOLLARS for what wholesalers in the US bought from them.
    So how did this "devaluation" give them an advantage?


    The
    The Yuan is not freely traded and the government limits its movement against the US dollar.

    The US also manipulates its currency as do most other countries by changing the money supply.
    By China banks not freely trading they just decide what the new rate is. They make sure they do not lose their price advantage vs the west.

    When your currency drops the exports become cheaper and imports become more expensive.
    Let's go Brandon !!!

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    Quote Originally Posted by Dr. Who View Post
    I think, if it happens, it's because the Chinese would be the biggest single market.
    Absolutely. Unless OPEC said our prices are based on the Riyal and if you want to buy from us then that's how you have to buy. Currently the Riyal is actually based on the dollar since they are dependent on oil exports for so much of their economy.
    Let's go Brandon !!!

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    The Yuan to dollar rate was stable up to 2005. Since then, it has fluctuated between 8.2 Yuan to the dollar and 6.06 to the dollar. At present it is Y7.27 to the dollar.

    https://www.macrotrends.net/2575/us-...storical-chart.

    This chart suggests that the rate of exchange bounces rather wildly, which is not what one would expect if the Chinese actually have total control over the exchange rate.

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    Quote Originally Posted by XavierOnassis View Post
    The Yuan to dollar rate was stable up to 2005. Since then, it has fluctuated between 8.2 Yuan to the dollar and 6.06 to the dollar. At present it is Y7.27 to the dollar.

    https://www.macrotrends.net/2575/us-...storical-chart.

    This chart suggests that the rate of exchange bounces rather wildly, which is not what one would expect if the Chinese actually have total control over the exchange rate.
    Because the Chinese banks are setting the exchange rate, not because that is the true value of the Yuan.
    The chart just reflects that. The Yuan is not freely traded on the open market.

    So the Yuan has a much higher value but you only have one buyer that you can ultimately cash the Yuan in and that is the Chinese banks and they are only going to give you what the Chinese government tells them the exchange rate is.

    You cannot explain how a country comes out of complete poverty in 30 years to become a world economic power without its currency growing in strength other than the devaluation of the currency.

    If China allows their currency to grow in value against the USD$ then their prices will skyrocket and we will stop buying their products.

    It is like buying gold at 20% of today's price but the only customer for gold is the dealer that sold it to you. He determines what price you will get for the gold, so you will only get 20% of the value when he buys it back.

    Meanwhile gold in the rest of the world that was traded freely is worth 5 times as much.


    The Yuan is worth far more if it was traded freely but it's not. So the Chinese banks will only give you what they want in exchange for foreign currency. No one else is going to give you a higher value because they still need to exchange with the Chinese banks and the Chinese banks have to use the exchange rate the Chinese government provides.
    Let's go Brandon !!!

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    Sad, sad Mr Veritas thinks that the US won't last until 2024. Every facet of the government is harassing, intimidating and imprisoning him, How can the country last without Mr Veritas? The Chinese will take over before Jan 1st 2024 and the dollar will be worthless and replaced by the yuan.

    How can this NOT be true if Glenn Beck says it?

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    Quote Originally Posted by XavierOnassis View Post
    Sad, sad Mr Veritas thinks that the US won't last until 2024. Every facet of the government is harassing, intimidating and imprisoning him, How can the country last without Mr Veritas? The Chinese will take over before Jan 1st 2024 and the dollar will be worthless and replaced by the yuan.

    How can this NOT be true if Glenn Beck says it?
    I do not share Mr. V's doom and gloom to the extent he does. However, it is undeniable that country has been further divided and the middle class and working man are falling behind.
    The government has asserted more control over us than at any point in my memory and they have not even used that to deliver for us. Poverty is up, homelessness up, housing cost out of control and student loan forgiveness blocked. They can't even deliver on their key issues! We have legit concerns about a targeted justice department, and many of the admin's policy such as green policy which would make the economic harm (to include inflation) worse than it already is and actually tried to tell the public that printing money could combat inflation! Perhaps worst of all is the pure negative politics of reversing the trend Trump started of bringing manufacturing back, which for some reason the beltway insiders do not want.
    Less important, but still a cultural issue is the impending destruction of women's sports. They tried to garner votes after a SC decision by saying they would do what the SC just said they could not do in terms on abortion. Said they would legislate it. I mean the level of disrespect.
    They have no viable plan for the economic rebuilds despite the catchy slogan.
    This is a dumpster fire, the recovery that should have happened coming out of COVID never happened, in fact things got worse!
    If you disagree, please speak to these points. Do you honestly believe we are in better position than we were in 2019? Also, there simply is not a viable plan to produce near enough green energy to even meet their national and state mandates much less their lofty goals!

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