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Meltdown of U.S. Dollar Underway as China Dumps the Currency

globalresearch.ca — China dumps $1.4 Trillion in reserves, switching to the Euro and Canadian dollar, causing the US Federal Reserve Fiat paper dollars to plunge in all world markets to new all-time lows. China is also the worlds largest holder of US Treasury Bonds and securities, for which they are nervously awaiting a buyer. Japan, is the 2nd largest nervous holder

Bury

AlwaysAwake 193 days ago

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32 Comments
Who Dugg It?

AlwaysAwake, on 05/09/2008, -5/+20The final plunge into the depths has begun for the US Federal Reserve Fiat Dollar. nearly worthless in it's best heyday, it is now rapidly descending into meaningless printed paper, nobody wants to take for currency at home in the US, or abroad.
55mph, on 05/09/2008, -4/+19And to top it off, Iran has stopped trading oil in US dollars. One more nail in the US Dollar's coffin.
- ThrstForKnwldge, on 05/10/2008, -1/+4They are definitely getting bombed now.
LewP, on 05/09/2008, -4/+12But, the stock market was up today. (failed smile)
life38, on 05/09/2008, -3/+11China and foreign oil will cause the greatest harm to the USA than any other issue.

Generation Next has said it all in this cartoon

http://mynonprofitwebsite.com/blog/2008/02/08/emo- ...
bstory, on 05/09/2008, -2/+15start planting gardens... you may need them before long
- Cyre, on 05/10/2008, -0/+4And collecting ammo.
allowners, on 05/09/2008, -6/+10No need to fret, think of it as opportunity.
- LadyKofNYC, on 05/10/2008, -8/+9Yes, an opportunity to starve penniless in the street.
  - Herkimer56, on 05/10/2008, -8/+9I hope that works out for you.
    - jcm267, on 05/10/2008, -8/+8I'm sure there's a big enough market for trannies in NYC that it would never get to that point.
    - LadyKofNYC, on 05/10/2008, -8/+9Hahaha, Herkle. I see you're still mad because I made you look like the ***** idiot tool box your are earlier today.
      
      JCM, I'm sure you know ALL about the NYC tranny market.
      
      ***** stalker losers. Lol!
    - Herkimer56, on 05/10/2008, -9/+10You did? I must have missed that. All I saw you do was confirm to the world over and over again that you are an ignorant, mindless, soulless bigot.
      - LadyKofNYC, on 05/10/2008, -8/+9You call me a racist because I call myself black and *I'M* the "mindless soulless bigot"??? LMAO!!!!
        
        You're ***** crazy Herkle. CRA-ZEE!!
      - Herkimer56, on 05/10/2008, -8/+9I called you a racist for your unending insistence on labeling people by racial stereotypes. That does indeed make you an ignorant, mindless, soulless bigot.
      - Jimmyb207, on 05/10/2008, -8/+8Oh yeah herk. definitely a Tool Box, made by ***** Idiot Inc.
      - keymanjim2, on 05/10/2008, -8/+5Lady, the last time you had an active brain cell in your body it had a penis attached to it.
        Get back on your corner. Barry-O need more "contributions".
      - LadyKofNYC, on 05/10/2008, -8/+7Now you're just LYING, Herkle. You're a ***** liar and you're ***** crazy.
        
        Conversation over.
      - LadyKofNYC, on 05/10/2008, -8/+7And herkle, tell your little boyfriends to stop sweating me.
      - Herkimer56, on 05/10/2008, -6/+8Lying? Looks like someone needs to do a little soul-searching. If you can't handle it by yourself then get some help. I'm sure that the New York State welfare people have a few psychiatrists on their payroll.
      - LadyKofNYC, on 05/10/2008, -8/+5Yes you are lying. I dare you to find just ONE quote where I used a racial stereotype. Just one Herkle. You're not going to find one because I don't do that .... unlike you Mr. "Islam is a gutter religion"
        
        But I challenge you, herkle. Prove that I racially stereotype people. I dare you.
        (now watch as Herkle runs away.....)
      - Herkimer56, on 05/10/2008, -4/+8I thought that this conversation was over? I guess that you're trying to save what little is left of your dignity. Well, find someone else to play with. Your ignorance and bigotry have become boring. There are many, many more intelligent people that I could be talking to instead of wasting my time on some small-minded moron.
      - LadyKofNYC, on 05/10/2008, -6/+2So you CAN'T find even one quote where I used a racial stereotype. Thought so.
      - Herkimer56, on 05/10/2008, -3/+6Thank you for making my point, idiot.
      - LadyKofNYC, on 05/10/2008, -4/+2Still cant find a quote where I used a racial stereotype I see.
lazerus9, on 05/09/2008, -5/+11...A great opportunity to buy low and sell lower!
- Cyre, on 05/10/2008, -0/+2Boardroom Jimmy in the house!
Look4Truth, on 05/09/2008, -5/+6"...A great opportunity to buy low and sell lower!"

Is that a joke? I hope it is because our faltering dollar will destroy this nation just as a destroyed currency has ALWAYS been the catalyst for the downfall of nations.
- lazerus9, on 05/09/2008, -1/+7Irony, its called irony, but doesn't that sound like the advice we are getting from all of the Wall Street gurus?
- 2oonhed, on 05/09/2008, -1/+5irony, it's like bronzy, or goldy, or coppery.
KMye, on 05/10/2008, -2/+4This is from a month ago. The dollar has climbed relative to the Euro for the past two weeks. The Fed won't be cutting rates again anytime soon. Our trade deficit is shrinking quickly, due to the weakened dollar. Nothing's for sure, but it would not be surprising if the dollar had already bottomed out for the time being...
- nobotz, on 05/10/2008, -0/+1The USD may not have bottomed out but sure the chinese definitely don't want a sudden massive depreciation of the value of their USD reserves by triggering such a downfall. Unless they are willing to write off their I owe you's. Sure whether they want it or not its going to happen gradually anyway. I don't think converting to euros is a reasonable solution. Instead of financing the US fiscal profligacy the big asians would end up supporting the social security of aging europeans.
  The only meaningful way of dealing with USD's decline is to copy the relatively just financial laws of the US into large countries like China,India and making their currencies fully convertible and moving the financial markets back to Asia as they always have been historically ;-).
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Meltdown of U.S. Dollar Underway as China Dumps the Currency

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