China's Renminbi approved by IMF as a main world currency

[UglyCasanova]

Link


What in the world is Christine Lagarde thinking? Bestowing recognition to a manipulated currency, one that depicts a person responsible for the death of millions, in a highly volatile and shady market, to country fraught with civil rights abuses and corruption. Hopefully this helps fuel some more island building in the South China Sea to muscle out the rest of those pesky nations that inhabit it.

Lovely

 

[HamburgerBoy]

...one that depicts a person responsible for the death of millions...

 

[master_shake_]

Link


What in the world is Christine Lagarde thinking? Bestowing recognition to a manipulated currency, one that depicts a person responsible for the death of millions, in a highly volatile and shady market, to country fraught with civil rights abuses and corruption. Hopefully this helps fuel some more island building in the South China Sea to muscle out the rest of those pesky nations that inhabit it.

Lovely

throw stones much?

well unless you are being ironic.

then my hat goes off to you, sir.

 

[UglyCasanova]

So both of you agree this is a good idea then? That China the Renminbi is stable, safe, and secure enough? On par with the dollar, pound, and euro? Which currency would you rather hold?

 

[5150Joker]

Link


What in the world is Christine Lagarde thinking? Bestowing recognition to a manipulated currency, one that depicts a person responsible for the death of millions, in a highly volatile and shady market, to country fraught with civil rights abuses and corruption. Hopefully this helps fuel some more island building in the South China Sea to muscle out the rest of those pesky nations that inhabit it.

Lovely

I can't tell if you're being clever or are serious?

 

[kage69]

Yup.


And that's not even addressing the irony of having Jackson on paper money, which he detested.

 

[Ham n' Eggs]

well, the US has been printing money like nobody's business.

then there's this: http://www.usdebtclock.org/
and the debt ceiling was just raised to 20 trillion... when will the house of cards fall, 25 trillion? 30 trillion?
then there's this: actual US debt closer to 65 trillion

then there is surging US stock market bubble that is being fueled almost entirely by Corporations borrowing at zero interest rate and using that money to buy back stock, driving up their stock price, thereby increasing their value, and using that value to get more zero interest loans, using that money to drive up stock prices,... etc, etc

Financial markets know all this, so don't be surprised when the world starts turning away from the Dollar

 

[Jaepheth]

So both of you agree this is a good idea then? That China the Renminbi is stable, safe, and secure enough? On par with the dollar, pound, and euro? Which currency would you rather hold?

Global economics really isn't my field...

Won't the market determine how reliable it is? Does the IMF have the power to shove China's currency down investors' throats?