"We're Not Going to Negotiate Anymore"

[D Coyne + 305]

16 hours ago, Ward Smith said:

None of which are "currency" By definition

definition of hard currency

money that is backed by gold reserves and is readily convertible into foreign currencies.

I stand corrected, gold is no longer currency, most (perhaps all) mediums of exchange are simply paper not backed by anything today.US Dollar reserves could be reduced by buying a basket of other currencies (Euro, Yen, British Pound, Swiss Franc, etc).

We don't actually know what the reserve holdings of China are, it is a state secret.  They hold a basket of currencies, but we don't know the proportions.

I am mostly suggesting they could change the proportions to some degree.  Obviously dollar reserves would not fall to zero, that would be impossible (or at least highly unlikely).

 

 

[Tom Kirkman + 8,860]

50 minutes ago, D Coyne said:

Tom,

You seem to live in an alternative facts universe.  Very strange indeed.

Dennis, I have mentioned repeatedly that my general view of the world is exceedingly far removed from mainstream.  And I don't expect others to agree with my views.

On the other hand, CNN and ilk are so far removed from reality it is stunning that people actually pay attention to their hysteria.

[D Coyne + 305]

5 minutes ago, Tom Kirkman said:

Dennis, I have mentioned repeatedly that my general view of the world is exceedingly far removed from mainstream.  And I don't expect others to agree with my views.

On tbe other hand, CNN and ilk are so far removed from reality it is stunning that people actually pay attention to their hysteria.

As I suggested your alternate universe seems a strange place compared to the real world.

You are in good company here as many seem to share your point of view.

Does it not seem strange that a foreign power actively supported your hero?  There was a time when conservatives would have been highly skeptical of support from the Russian oligarchy, my how the world has changed.

Reality does seem to have a liberal bias.

Edited August 9, 2019 by D Coyne

[KeyboardWarrior + 527]

20 hours ago, SERWIN said:

Is that new deal going on with Europe exporting beef going to help you out?

Nope, and to tell you the truth, there's a lot more going on with beef than just lack of trade fairness or a glut in supply. 

[Douglas Buckland + 6,308]

51 minutes ago, Zhong Lu said:

I just look at results and on foreign policy Donald Trump has delivered a big fat zero.  

Depends on your perspective I suppose. Disengaging from China would be a 'fat' win!

[D Coyne + 305]

17 hours ago, SKEP said:

They're gonna buy $3.6 trillion worth of gold ? ? ?  Where ? Amazon Prime ?

SKEP,

They can reduce their currency reserves. Note that it is reported in dollars, but not all Chinese reserves are held in dollars, it is a basket of currencies, proportions are a state secret.

[SKEP + 229]

9 minutes ago, D Coyne said:

SKEP,

They can reduce their currency reserves. Note that it is reported in dollars, but not all Chinese reserves are held in dollars, it is a basket of currencies, proportions are a state secret.

I agree. But China is by far the largest holder outside of US itself of US Treasuries.  They really don't have any choice.

They're not going to start using Treasuries as a weapon against Trump

 

 

Edited August 9, 2019 by SKEP

[Zhong Lu + 845]

1 hour ago, Douglas Buckland said:

Depends on your perspective I suppose. Disengaging from China would be a 'fat' win!

For Vietnam and Russia, yes.  

Edited August 9, 2019 by Zhong Lu

[JR EWING + 123]

Trumps latest tweet is his way of telling the world the chinese arent interested anymore in a deal.

What a tweeter

 

[Emil Kaneti + 3]

You cant negotiate with them, they have no honor

[Emil Kaneti + 3]

1 hour ago, Zhong Lu said:

For Vietnam and Russia, yes.  

How so Russia?

[wrs + 893]

3 hours ago, Tom Kirkman said:

Dennis, I have mentioned repeatedly that my general view of the world is exceedingly far removed from mainstream.  And I don't expect others to agree with my views.

On the other hand, CNN and ilk are so far removed from reality it is stunning that people actually pay attention to their hysteria.

Those people are also hysterical but everyone believes in their own reality which isn't the same as that of the next person.  

[SERWIN + 749]

22 hours ago, ronwagn said:

I doubt Europe can export much of their beef. 

There is a new thing about US beef going to Europe, not the other way around. I remember Trump saying that we
"make the best beef in the world and everybody wants it". Sounds like the usual sensationalism that comes from his mouth, but I understood that a new deal has been set up for exporting US beef to the EU....

Edited August 9, 2019 by SERWIN

[SERWIN + 749]

3 hours ago, KeyboardWarrior said:

Nope, and to tell you the truth, there's a lot more going on with beef than just lack of trade fairness or a glut in supply. 

Is there a glut in the supply side of the beef market, you wouldn't know it by the pricing in the markets right now....It actually looks like there is a shortage by the prices

[SERWIN + 749]

46 minutes ago, Emil Kaneti said:

You cant negotiate with them, they have no honor

They have no INTEGRITY in China(government), they do what they want and skirt the rules however they can. I personally believe the world should cut China off for a couple of decades and see how they like that as repayment for the lack of integrity in the government. I also don't understand why they are still in the WTO if they haven't met the criteria in all the time they have been in it. Why haven't the other members done something by now if that is true. Like an emboldened child, they keep pushing the limits and getting away with it. Until most of those member countries unite and push back they will continue to push the boundaries.....

[BigJets + 87]

5 minutes ago, SERWIN said:

They have no INTEGRITY in China(government), they do what they want and skirt the rules however they can. I personally believe the world should cut China off for a couple of decades and see how they like that as repayment for the lack of integrity in the government. I also don't understand why they are still in the WTO if they haven't met the criteria in all the time they have been in it. Why haven't the other members done something by now if that is true. Like an emboldened child, they keep pushing the limits and getting away with it. Until most of those member countries unite and push back they will continue to push the boundaries.....

Because politicians are empty suits, shills, quid pro quo, tit for tat. 

Enter Trump; cannot be bought; only interest... America First. 

[Ward Smith + 6,615]

4 hours ago, D Coyne said:

All hat, no cattle.

Says the person with neither to his name. Telling no? 

[Ward Smith + 6,615]

3 hours ago, D Coyne said:

definition of hard currency

money that is backed by gold reserves and is readily convertible into foreign currencies.

I stand corrected, gold is no longer currency, most (perhaps all) mediums of exchange are simply paper not backed by anything today.US Dollar reserves could be reduced by buying a basket of other currencies (Euro, Yen, British Pound, Swiss Franc, etc).

We don't actually know what the reserve holdings of China are, it is a state secret.  They hold a basket of currencies, but we don't know the proportions.

I am mostly suggesting they could change the proportions to some degree.  Obviously dollar reserves would not fall to zero, that would be impossible (or at least highly unlikely).

Preceded by: 

"I said brink of recession, perhaps try a dictionary.  A nation can exchange their currency reserves for other assets such as gold, or platinum, or even oil.  They could also exchange dollars for Euros.  I understand very well what currency is.  

Your reading comprehension needs some work."

So, whose reading comprehension needs work? I'm right, you're wrong, that's that. 

Next definition you should work on is "recession". It has a real, economic definition, not to be confused with the opinions of whiny traders who aren't making enough returns to purchase their next yacht. GDP's can't grow at breakneck pace or guess what? Someone gets their neck broken. Central Banks have come to the conclusion that a little bit of fuel keeps the fire nice and toasty without anyone getting burned. 

[BenFranklin'sSpectacles + 762]

On 8/7/2019 at 4:36 PM, Zhong Lu said:

China does not particularly want a deal, at least not with this administration.  

Trump may believe the Chinese government wants a deal.  But that's not the same as the Chinese government actually wanting a deal, now, does it? 

Personally I'm wondering how long it takes before the real message (China is not going to negotiate) behind the yuan devaluation sinks in, that China isn't budging on trade. 

Obviously it hasn't sunk in yet.  

 

On 8/7/2019 at 4:56 PM, Jan van Eck said:

I think your analysis is correct.  This Chinese Government has written off "deals" with the Trump Administration.  It will be interesting to watch what happens at the next Treasury Bills auction.  The Chinese may be conspicuous for their absence. 

Trump doesn't care if there's a deal.  He's set the terms on which he'd agree to a deal, provided a deadline via tariffs, and allowed China to decide.  The US will be fine either way. 

[Enthalpic + 1,496]

11 hours ago, Douglas Buckland said:

Everyone seems to enjoy mentioning the US debt. Does anyone have a listing of the debt of other developed countries?

https://en.wikipedia.org/wiki/List_of_countries_by_external_debt

 

[footeab@yahoo.com + 2,129]

20 minutes ago, Enthalpic said:

https://en.wikipedia.org/wiki/List_of_countries_by_external_debt

 

That is not external debt.  External means held by foreign nations.  That is one very screwed up list.  Some may be external, but in most is internal as listed.

[KeyboardWarrior + 527]

6 hours ago, SERWIN said:

Is there a glut in the supply side of the beef market, you wouldn't know it by the pricing in the markets right now....It actually looks like there is a shortage by the prices

Yes, that's because the packing plants have lots of control over how much the consumer pays, and how much the rancher earns. 

[Zhong Lu + 845]

I find it ironic that supporters of Donald Trump are bad mouthing China's integrity.  

Personally I think the Chinese government has as much integrity as the current American president.  

Edited August 9, 2019 by Zhong Lu

[Zhong Lu + 845]

5 hours ago, BenFranklin'sSpectacles said:

 

Trump doesn't care if there's a deal.  He's set the terms on which he'd agree to a deal, provided a deadline via tariffs, and allowed China to decide.  The US will be fine either way. 

<shrug>  As will China.  

[footeab@yahoo.com + 2,129]

10 minutes ago, Zhong Lu said:

I find it ironic that supporters of Donald Trump are bad mouthing China's integrity.  

Personally I think the Chinese government has as much integrity as the current American president.  

So, you are saying that China does nothing but lie or blow hot smoke up peoples asses?