I still remember hearing that the dollar was going to be replaced by china’s currency (i don’t know the name), as the worlds reserve currency, because of how strong it was at the time. Looks like its all a paper tiger.
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A communist countrys $ will never be the reserve currency
Remnibi/Yuan China’s economy is starting to collapse. Unlike us they have no experience in how to handle a actual recession or even worse. Unlike the U.S.
I’m confused on this. You value the strength of a currency based on other currencies. That is the only definition for it.
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Correct. The very definition of “strength” is to compare currencies to one another.
One definition but misleading
If the dollar was strong, we wouldn’t have 8% inflation.
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It’s the only definition if you are talking about economics. The strong dollar is what is saying us from having inflation like so many other countries.
The “shocking problem” in oil supply right now. @crudegusher drills into the issues facing the energy market. $WTI https://twitter.com/CNBCFastMoney/status/1562189728065421315/video/1
China — Don’t know if Fortune mag link at bottom will work for others — here’s a snip —
Over the past several months, a surprising number of formerly devout evangelizers for the boundless possibilities of China’s consumer-facing digital “platform” companies—Alibaba, Tencent, Meituan, JD.com, and a handful of others—have dumped billions of dollars worth of those firms’ shares… The most prominent exit was by SoftBank CEO Masayoshi Son, who bankrolled Alibaba founder Jack Ma back in 2000. On Aug. 10, SoftBank said it would book a gain of $34 billion by selling a third of its 24% stake in the Chinese e-commerce giant. Days later, a filing with the Securities and Exchange Commission revealed that sometime in the three months to June 30, Bridgewater Associates—whose boss Ray Dalio last year derided investors fleeing China shares for over-reacting to “market wiggles“—cashed out of Alibaba, JD.com, and three other Chinese platform companies. A similar filing, made public in April, shows that in the first quarter, Daily Journal , the Los Angeles-based media company advised by Warren Buffett pal and ardent China bull Charlie Munger, slashed its stake in Alibaba by half. In June, Tencent’s biggest backer, Dutch investment firm Prosus NV, said it would pare its 29% stake in the Chinese company.
Ray Dalio is the biggest China apologist walking around.
China is a house of cards.
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Relative to other currencies, the dollar is strong. Relative to purchasing power, the dollar is not strong; it takes more dollars to buy the same goods.
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Going to do it before someone competent becomes president
Why some people underestimate Biden, man is former Senate head of the foreign relations committee, as well former VP with great understanding of international foreign affairs. Run circles around 45 in knowledge and how things work internationally. He has passed all kind of acts to weaken China’s technological base. Has imposed export controls of certain technology knowing it’s the CCP policy of using civilian use of technology towards the military, CCP calls it dual use technology
Hes an idiot, even Obama said that. BTW, what is cornpop doing now?
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You can’t underestimate his incompetence or corruption. Plus he’s a flat out liar.
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For the life of me, I don’t understand how someone can call Biden incompetent, a liar, and corrupt but not say the same about trump.
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Ok, is he?
All politicians lie, Bush, Obama, Trump, Biden. Only Biden in the group do I consider incompetent.